20th June 2018
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Satchu's Rich Wrap-Up
 
 
Wednesday 20th of June 2018
 
Morning,
Africa

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Tsavo is in bloom and isn't it looking beautiful? it's a sheer paradise for elephants, with long grasses up to their bellies and plentiful food @DSWT
Africa


Tsavo is in bloom and isn't it looking beautiful? Largely
unrecognisable from the drought-stricken landscape of 2017, it’s a
sheer paradise for elephants, with long grasses up to their bellies
and plentiful food, which is being thoroughly enjoyed by the orphans
in our care!

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Homage to Tsavo Dr. Dame Daphne Sheldrick Video
Africa


Listen to Dr. Dame Daphne Sheldrick, founder of the David Sheldrick
Wildlife Trust, share her love and knowledge of the spectacular Tsavo
National Park, where she has lived and worked for 60 years.

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Axios; from a well-wired Republican "Trump's biggest crisis will come if the trade wars cause a slowdown in the economy. No boom, no cushion. Political collapse."
Law & Politics


Axios; from a well-wired Republican "Trump's biggest crisis will come
if the trade wars cause a slowdown in the economy. The boom is giving
him a cushion against the impact of his policies, personal behavior
and impetuous decision making. No boom, no cushion. Political
collapse."

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The Outrage Over Family Separation Is Exactly What Stephen Miller Wants @TheAtlantic
Law & Politics


So, it came as little surprise when The New York Times reported over
the weekend that Miller had played a key behind-the-scenes role in
advancing the new border policy:

“No nation can have the policy that whole classes of people are immune
from immigration law or enforcement,” he said during an interview in
his West Wing office this past week. “It was a simple decision by the
administration to have a zero tolerance policy for illegal entry,
period. The message is that no one is exempt from immigration law.”

… Privately, Mr. Miller argued that bringing back “zero tolerance”
would be a potent tool in a severely limited arsenal of strategies for
stopping migrants from flooding across the border … And in April,
after the border numbers reached their zenith, Mr. Miller was
instrumental in Mr. Trump’s decision to ratchet up the zero tolerance
policy.

But when we talked, Miller also made it clear to me that he sees
immigration as a winning political issue for his boss.

“The American people were warned—let me [be] sarcastic when I remark
on that—[they] were quote-unquote warned by Hillary Clinton that if
they elected Donald Trump, he would enforce an extremely tough
immigration policy, crack down on illegal immigration, deport people
who were here illegally, improve our vetting and screening, and all
these other things,” Miller told me. “And many people replied to that
by voting for Donald Trump.”

Speaking to The New York Times, Miller framed his theory this way:
“You have one party that’s in favor of open borders, and you have one
party that wants to secure the border. And all day long the American
people are going to side with the party that wants to secure the
border. And not by a little bit. Not 55–45. 60–40. 70–30. 80–20. I’m
talking 90–10 on that.”

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.1573
Dollar Index 95.06
Japan Yen 110.13
Swiss Franc 0.9952
Pound 1.3158
Aussie 0.7391
India Rupee 68.31
South Korea Won 1109.43
Brazil Real 3.7472
Egypt Pound 17.8815
South Africa Rand 13.7273



Euro 1.1573
Dollar Index 95.06
Japan Yen 110.13
Swiss Franc 0.9952
Pound 1.3158
Aussie 0.7391
India Rupee 68.31
South Korea Won 1109.43
Brazil Real 3.7472
Egypt Pound 17.8815
South Africa Rand 13.7273
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Philippine stocks may fall into a bear market as early as today amid record streak of outflows of 23 straight days. @DavidInglesTV
Emerging Markets


Philippine stocks may fall into a bear market as early as today amid
record streak of outflows of 23 straight days. $40 billion in value
wiped out this year from the country's biggest stocks

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Ethiopia PM: Security agencies committed 'terrorist acts
Africa


Ethiopia's Prime Minister Abiy Ahmed said his country's security
institutions tortured and committed "terrorist acts" against its own
citizens in the past, in a rare and candid admission.

Ahmed, who was sworn in last April, also hinted that he will seek to
abolish the infamous anti-terrorism law that led to the detention and
prosecution of thousands in the East African country.

"Our constitution doesn't allow it, but we have been torturing,
causing bodily damages and even putting inmates in dark prison cells,"
he said while addressing parliament on Monday.

"These were terrorist acts committed by us, and using force just to
stay in power is a terrorist act too," Ahmed said.

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She stayed there because she had nowhere else to go. As I tried to chat with her, she kept asking me: "Why, why, why..." @zenaidamz
Africa


This woman and hundreds of her neighbors had their homes burned down
during a night terrorist attack, in Naunde, northern Mozambican
province of Cabo Delgado. She stayed there because she had nowhere
else to go. As I tried to chat with her, she kept asking me: “Why,
why, why...”

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Madagascar caught in spiral of decline after decades of neglect FT
Africa


Madagascar’s presidential palace, built on a grandiose scale by North
Korea, sits on manicured grounds about 15km outside Antananarivo. Its
splendid isolation from the capital — let alone the poverty of
Madagascar — is a fitting symbol of a state whose influence is scant.

Inside its vast hallways and cavernous meeting rooms, President Hery
Rajaonarimampianina is weathering the latest in a series of political
crises that have debilitated his nation since independence in 1960. In
that period, Madagascar is the world’s only non-conflict country to
have become poorer, according to the World Bank. Its income per head
has nearly halved, to about $400.

In May, just months before elections, the high constitutional court —
reacting to months of opposition protests and legal petitions — forced
the president to dispense with his prime minister and form a
government of national consensus. Last week, he appointed a cabinet
that included allies of his main political rivals, known as the
milkman and the DJ after their former professions.

Mr Rajaonarimampianina — usually referred to by his first name, Hery,
for obvious reasons — was the finance minister in a previous
administration and is known as “the accountant”. He talks of a “coup”
and pleads for a period of political stability, for which many read a
second term.

“The cycles of crises have come back so often that our politicians
think in the short term,” he told the Financial Times in a recent
interview. “They have not been able to put in place a vision [to
exploit] the immense resources of this country.”

Opponents accuse Mr Rajaonarimampianina of trying to manipulate the
electoral law to neutralise his two main challengers — former leaders
who were, respectively, removed in a 2009 coup and after a
transitional government ended in 2014.

Mr Rajaonarimampianina denies any such ploy and refuses to say whether
he intends to stand in elections now likely to take place in October.
But his intentions appear clear. “This democracy remains fragile,” he
said. “I want to put in place a new way of managing, a new vision of
development, a new economic approach.”

The needs of Madagascar, the world’s fourth-biggest island, are indeed
great and its strategic importance bigger than most outsiders
understand, say diplomats. Yet until two years ago it received less
aid per capita than any nation bar North Korea.

“Madagascar is the world’s forgotten island,” said Patrick Imam, the
IMF’s representative to the country, who argues the west should pay
more attention. “This is probably one of the few countries in the
world where the IMF cautions the government: ‘You are not spending
enough money,’” he says, referring to the limited presence of the
state outside Antananarivo.

In the semi-lawless rural regions where banditry, cattle rustling and
smuggling are rife, the government’s influence its virtually
non-existent. Madagascar has one of the worst road networks in Africa
and spends just 3 per cent of gross domestic product on healthcare,
among the lowest in the world.

“About 80 per cent of the population lives on less than $1.50 a day,”
said Mr Imam. “My office driver is possibly part of the 1 per cent.”

Coralie Gevers, the World Bank’s country manager, said Madagascar is
ignored partly because it is an island, which makes it less likely
than continental states, such as Somalia, to export instability and
refugees. Its famed lushness has lulled even sophisticated observers
into false notions about the living standards of its 25m people, she
added.

Almost one in two Malagasy children is stunted through malnutrition,
according to Ms Gevers. “You look at all this greenery and you think:
‘How’s this possible?’.”

What financial assistance and international investment the country had
been receiving was cut sharply after the 2009 coup, one of a string of
non-constitutional transfers of power. No head of state since
independence has both gained office and left it via normal elections.

Diplomats warn that the chronic poverty makes Madagascar vulnerable to
ecological destruction. Artisanal mining of gems, gold and sapphires
is common, with few proceeds finding their way into state coffers.
Logging of rosewood and ebony is rife, with much of it smuggled to
China and south-east Asia.

Ecologists say illegal logging and slash-and-burn farming have
destroyed much old forest, threatening one of the most biodiverse
habitats on earth.

Yet for all the talk of the need for development, Mr
Rajaonarimampianina and his country are yet again slugging it out. In
April, two demonstrators were killed in clashes with police after
protesting against changes to electoral laws.

Mr Rajaonarimampianina said it was time to end the infighting between
elites. “There have been so many interest groups here that the
majority interests have often been forgotten,” he said. “We really
need to put in place a political culture that looks at the interests
of the people.”

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18-JUN-2018 :: Cut taxes and cast the tax net wider. @TheStarKenya
Africa


This is now a zero Sum Game. In order to get the Show back on the road
and to get back to faster GDP growth because Growth is a Silver
bullet, we should be cutting Taxes and casting the Tax Net wider.

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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June 2018
 
 
 
 
 
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