19th December 2018
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Satchu's Rich Wrap-Up
 
 
Wednesday 05th of December 2018
 
Morning,
Africa

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Normal Board - The Whole shebang
Prompt Board Next day settlement
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The Latest Daily PodCast can be found here on the Front Page of the site
http://www.rich.co.ke

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....I am a Tariff Man. MAKE AMERICA RICH AGAIN @realDonaldTrump
Africa


....I am a Tariff Man. When people or countries come in to raid the
great wealth of our Nation, I want them to pay for the privilege of
doing so. It will always be the best way to max out our economic
power. We are right now taking in $billions in Tariffs. MAKE AMERICA
RICH AGAIN

read more








For the first time in history the UK Government has been found in contempt of Parliament. @Channel4News
Law & Politics


Theresa May will now bow to demands to publish the "final and full"
legal advice on her Brexit deal - this is the moment it happened.

read more









.@realDonaldTrump Delays Plans To Raise Tariffs On $200 Billion In Chinese Goods @NPR
Law & Politics


The two economic superpowers said they would return to negotiations.
Steve Inskeep talks to White House adviser Peter Navarro. NPR's Scott
Horsley weighs in on the conversation.

read more


President Xi Jinping has proven himself adept at the art of buying time. @Breakingviews
Law & Politics


A noticeable gap between interpretations of the G20 dinner – China
only obliquely hinted at structural reform, for instance – is not
auspicious. In the end, though, it will come down to Xi’s calculation
of what, in addition to more American imports, is the minimum he can
offer to satisfy the U.S. administration - or at least, to persuade
Trump to overrule more hawkish advisers. He secured extra time; now he
will need to be bold to clinch a deal.

read more








The "Indian Ocean Region" is expected to become the geostrategic center of gravity in the New Cold War @eurasia_future @AKorybko
Law & Politics


Sputnik reported that Indian Navy Chief Admiral Sunil Lanba just
disclosed during a press conference on Monday that his country had
secretly tracked a Chinese submarine in the “Indian Ocean” in October,
which sent several important messages irrespective if his claims are
true or not:

The “Indian Ocean” Is Hegemonically Regarded By India As Its “Backyard”

India considers one of the world’s largest bodies of water to be
exclusively within its “sphere of influence”, giving it the
self-proclaimed “right” to supposedly track foreign submarines that
traverse through the tens of millions of square miles of international
waters here in a thinly disguised hegemonic message meant to convey
its aspirations as a rising Great Power.

India’s American Ally Might Have Lent A Helping Hand

Supposing that a Chinese submarine did indeed enter the “Indian Ocean”
during October and was tracked the entire time, it’s very likely that
India was able to do this only through the help of its new American
ally via the working channels between their two militaries that were
recently established through the Communications, Compatibility and
Security Agreement (COMCASA) that was finally agreed to in early
September.

read more


06-AUG-2018 :: The Indian Ocean Economy and a Port Race
Law & Politics


Today from Massawa, Eritrea [admittedly on the Red Sea] to Djibouti,
from Berbera to Mogadishu, from Lamu to Mombasa to Tanga to Bagamoyo
to Dar Es Salaam, through Beira and Maputo all the way to Durban and
all points in between we are witnessing a Port race of sorts as
everyone seeks to get a piece of the Indian Ocean Port action. China
[The BRI initiative], the Gulf Countries [who now appear to see the
Horn of Africa as their hinter- land], Japan and India [to a lesser
degree] are all jostling for optimal ‘’geo-economic’’ positioning.

read more







Currency Markets at a Glance WSJ
World Currencies


Euro 1.1330
Dollar Index 97.197
Japan Yen 113.00
Swiss Franc 0.9993
Pound 1.2706
Aussie 0.7290
India Rupee 70.695
South Korea Won 1114.605
Brazil Real 3.8525
Egypt Pound 17.902
South Africa Rand 13.8287

read more













Gross domestic product rose by an annualized 2.2 percent in the three months through September compared with a revised 0.4 percent contraction in the prior quarter @business
Africa


Key Insights:

The biggest drivers of quarterly growth were increases in
manufacturing output, which rose 7.5 percent, and agriculture, which
surged 6.5 percent.
Despite the rebound, the underlying economy remains weak, with the
central bank and the National Treasury forecasting annual growth of
less than 1 percent for the year.
The economy hasn’t grown by more than 2 percent a year since 2013 and
is struggling to gain momentum despite political changes, which
boosted investor confidence. Cyril Ramaphosa’s ascent to power --
first as leader of the ruling African National Congress in December
and as President in February -- bolstered sentiment and the rand
following Jacob Zuma’s scandal-ridden tenure of almost nine years, but
indexes show confidence has waned as businesses seek real reforms.
The economy expanded 1.1 percent from a year earlier.
Markets:

The rand gained as much as 1.1 percent before paring the advance to
trade 0.9 percent up at 13.5655 per dollar by 1 p.m. in Johannesburg,
the strongest level in almost four months. Yields on benchmark
government bonds dropped and stocks reversed losses.

read more


South Africa suffered a fifth day of scheduled power blackouts on Monday as the state electricity monopoly, @Eskom_SA , took action to prevent a collapse of the national grid @FT
Africa


“Political meddling at Eskom has basically rendered it a hopeless
strategic asset that holds the whole country to ransom,” said Ronald
Chauke of the Organisation for Undoing Tax Abuse, an anti-graft NGO.

read more


Ferial Haffajee @ferialhaffajee @ferialhaffajee
Africa


Clean-up at SARS 📌
New NPA boss✅
New leadership at Eskom, Transnet, Prasa, SABC, Denel, SAA and SA Express✅
Investment Summit✅
Jobs Summit✅
Stimulus Plan ✅
SAPS commissioner✅
Zondo commission of Inquiry✅
Nugent commission of inquiry✅

read more





Nigeria's @MBuhari denies dying and being replaced by lookalike @ReutersAfrica
Africa


ABUJA (Reuters) - Nigeria’s President Buhari on Sunday denied claims
that he had died and been replaced by a Sudanese impostor, breaking
his silence on a rumour that has circulated on social media for
months.
Buhari, who is running for re-election in February, spent five months
in Britain last year being treated for an undisclosed illness. One
theory widely aired on social media - and by some political opponents
- was that he had been replaced by a lookalike from Sudan called
Jubril.
No evidence has been presented, but videos making the claim have still
been viewed thousands of times on YouTube and Facebook.
“It’s real me, I assure you. I will soon celebrate my 76th birthday
and I will still go strong,” Buhari told Nigerians in a town hall
session in Poland, where he was attending a conference, when asked
about Jubril.
“A lot of people hoped that I died during my ill health,” he said,
adding that those who spread the rumour were “ignorant and
irreligious”.
The presidency circulated Buhari’s comments in an emailed statement
entitled “It’s Real Me, President Buhari Responds to Cloning
Allegation”.

read more





Kenyan authorities will conduct an investor roadshow in the first quarter of next year to market an international debt offering, Treasury Principal Secretary Kamau Thugge said.
Africa


The government plans to sell shilling-denominated bonds, but has yet
to decide what type of instrument it will offer, Thugge said at a
presentation Tuesday in the capital, Nairobi. It’s also considering
green bonds and Eurobonds, he said.

read more







Oman's largest cement manufacturer Raysut Cement Company has made a Sh10.2 billion bid to acquire troubled ARM Cement @bd_africa
Africa


Raysut says the buyout proposal is part of its strategy to expand in
East and Central Africa.
“ARM Cement, which is a producer and major supplier of cement in Kenya
and Africa in general recently went into administration with a debt of
over $140 million (Sh14.2 billion) and Raysut has expressed its
interest to the administrators to acquire the company,” the
multinational said in a statement.
“The acquisition is estimated to be valued at over $100 million
(Sh10.2 billion).”

read more


Athi-River Mining Ltd. share price data
Africa


Closing Price:           5.55
Total Shares Issued:          959940200.00
Market Capitalization:        5,327,668,110
EPS:             -6.83
PE:                 -0.813

read more


03-DEC-2018 :: PROFIT WARNING Bamburi Cement
Africa


While the final 2018 financial results will be announced in the first
quarter of 2019, the Board of Directors (the “Board”) of the Company
wishes to inform the shareholders of the Company and potential
investors that, based on the preliminary assessment on the unaudited
consolidated management accounts, the 2018 full year earnings of the
Group are expected to decrease by more than 25% compared with the year
ended 31 December 2017.
The expected decrease is mainly attributable to:
1. Difficult market conditions, as well as escalating international
energy prices in both Kenya and Uganda;
2. Increasing power costs in Kenya;
3. Additional provisions, mainly receivables, in Uganda.

read more


Bamburi Cement Company Ltd.
Africa


Par Value:                  5/-
Closing Price:           145.25
Total Shares Issued:          362959275.00
Market Capitalization:        52,719,834,694
EPS:             4.54
PE:                 31.993

read more






Each cow needs at least 10 acres of land to be healthy, Evans said
Africa


A herder was shot dead when police tried to confiscate his cattle
after they invaded one of the ranches last week, police and ranchers
said.
“That herder was killed as a matter of self-defense by the police,”
Martin Evans, chairman of the Laikipia Farmers Association, told the
Thomson Reuters Foundation by phone.
Dozens were killed and injured in Kenya’s drought-stricken Laikipia
region last year as armed herders searching for scarce grazing land
drove tens of thousands of cattle onto private farms and ranches from
poor-quality communal land.
“Right now, it is very dry out there,” Evans said. “The November rains
have failed and if it doesn’t rain between now and April the situation
is going to get worse.”

read more



 
 
N.S.E Today


The Optimism that we saw on Monday in global markets in the afterglow
of the Trump Putin Dinner [Trump and Xi ate grilled sirloin steaks
paired with a malbec from the Argentine winery Catena Zapata] has
evaporated.
...I am a Tariff Man. When people or countries come in to raid the
great wealth of our Nation, I want them to pay for the privilege of
doing so. It will always be the best way to max out our economic
power. We are right now taking in $billions in Tariffs. MAKE AMERICA
RICH AGAIN tweeted President Trump.
Theresa May's  government lost a contempt vote yesterday [Ayes 311 No 293]
This is the first time in history the UK Government has been found in
contempt of Parliament.
Sterling was all over the place and was last at 1.2713.
The US Yield Curve is within less than 10 bps from inverting.
Inversion normally spells recession.
South Africa's Gross domestic product rose by an annualized 2.2
percent in the three months through September compared with a revised
0.4 percent contraction in the prior quarter.
Both President Buhari and President Bongo sought to disavow the notion
that they were dead.
Kenyan authorities will conduct an investor roadshow in the first
quarter of next year to market an international debt offering,
Treasury Principal Secretary Kamau Thugge said.
The government plans to sell shilling-denominated bonds, but has yet
to decide what type of instrument it will offer, Thugge said at a
presentation Tuesday in the capital, Nairobi. It’s also considering
green bonds and Eurobonds, he said. [Bloomberg]
Oman’s largest cement manufacturer Raysut Cement Company has made a
Sh10.2 billion bid to acquire troubled ARM Cement said @bd_africa
on the 03-DEC-2018 ::  Bamburi Cement issued a Profits warning and cited
1. Difficult market conditions, as well as escalating international
energy prices in both Kenya and Uganda;
2. Increasing power costs in Kenya;
3. Additional provisions, mainly receivables, in Uganda.
I attended the official Ground-breaking ceremony of KenGen Kenya's
Olkaria 6 geothermal well in Naivasha yesterday.
KenGen's execution has been an Outlier in the Energy Sector.
If an oil tanker ferrying 35,000 litres of fuel is involved in an
accident, a road is sealed off ( remember kenol- sagana last year?),
and environmental experts called to clean up. 23,000,000 litres of
fuel is equivalent to 658 truckloads. Such spillage is unimaginable!
said  @BushouseP
The Nairobi All Share eased -0.03 points to close at 146.46.
The NSE20 retreated -9.88 points to close at 2791.52
Equity Turnover was subdued at 233.536m.



N.S.E Equities - Commercial & Services


Safaricom firmed 5cents to close at 23.65 and traded 1.769m shares.
Safaricom has been trading at these levels since early October and the
chart pattern is one of a price base formation.



N.S.E Equities - Finance & Investment


NIC Bank retreated -4.46% to close at 22.50 and traded 1.611m shares
worth 36.297m. NIC Bank trades on a Trailing PE Ratio of 3.4722 and
reported a decline in Q3 2018 EPS: -13% y/y to KES 4.56; adjusting for
new bonus shares in 2018 y/y change is -3.4% from adjusted 3Q17 EPS of
KES 4.72. This looks like a compelling Entry Level. John is a very
safe and innovative Pair of hands at the helm.
Equity Group firmed +0.38% to close at 40.00 and traded 899,300
shares. DR Congo is going great guns by all accounts and the Digital
Banking prospect will ride a regional wave. Anything around these
levels looks a steal wen the rebound sets in.
KCB firmed +1.25% to close at 40.50 and traded 624,900 shares, KCB
trades on a Trailing PE Ratio of 6.2986 and looks cheap especially wen
you factor in the Q3 2018 EPS acceleration of +19.817%

Jubilee Insurance sank -1.68% to close at a 12 month low of 366.00.
Competition's Hot breath is a lot hotter these days. Jubilee trades on
a Trailing PE of 6.475.



N.S.E Equities - Industrial & Allied


EABL firmed +0.38% to close at 197.00 and traded 307,400 shares. EABL
has rallied +21.6% since closing at a 2018 low of 162.00 on the 21st
November. I have received a string of Broker upgrades over the last
few weeks. EABL sits -14.915% in 2018. EABL traded 307,400 shares and
was the most actively traded share at the Securities Exchange.

East African Portland cement was upticked +9.82% on the grand total of
100 shares to close at 15.10 probably on the basis that with the
Omanis out bidding Dangote on ARM Cement he will turn is attention to
EA Portland, which is quaalude level thinking. Portland is -44.074% in
2018.

Total Kenya firmed +6.60% to close at 28.25 and traded 1,100 shares
with Buyers outpacing Sellers by a Factor of 10 to 1.

--



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