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Thursday 14th of February 2019 |
Morning Africa |
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If you are tracking the NSE Do it via RICHLIVE and use Mozilla Firefox as your Browser. 0930-1500 KENYA TIME Normal Board - The Whole shebang Prompt Board Next day settlement Expert Board All you need re an Individual stock.
The Latest Daily PodCast can be found here on the Front Page of the site http://www.rich.co.ke |
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31-DEC-2018 :: Europe remains off balance. Africa |
The Pound has not priced in a hard Brexit nor has the Euro. Europe remains off balance. The French have always been prone to take to the Streets but President Macron clearly has to deal with things with plenty of finesse, now. President Putin is snapping at the edges and his European Portfolio continues to grow.
Home Thoughts
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@NicolasMaduro claims foes 'totally failed' to topple him as efforts falter @guardian Law & Politics |
Venezuela’s embattled leader, Nicolás Maduro, has claimed he has seen off a dramatic opposition challenge to his rule, as those efforts appeared to falter and the United States conceded it was “impossible to predict” how long he might remain in power. In an interview with Euronews, Maduro boasted that his political foes had “failed totally” in their quest to topple him. Opponents “could march every single day of their lives” and achieve nothing, Maduro said. Addressing a congressional hearing, the US special envoy on Venezuela, Elliott Abrams, claimed “Maduro and his band of thieves” were finished. He claimed international pressure meant “there is a storm brewing inside the Maduro regime that will eventually bring it to an end”. But while Abrams said Washington was “hopeful and confident” of Maduro’s demise he admitted it was “impossible to predict” when it might come. The US would maintain pressure “over the next weeks and months”, he added, suggesting a quick resolution is no longer expected.
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04-FEB-2019 :: "The Edge... There is no honest way to explain it because the only people who really know where it is are the ones who have gone over," Hunter. S. Thompson. Law & Politics |
Lets start with Destination Caracas Venezuela. Here years of sanction warfare [The Star Aug 2018 @realDonaldTrump seems to be relishing his financial warfare strategies. Nicolas Maduro in Venezuela is being attacked by remote-controlled drone] accompanied with rank mismanagement has brought the country to that Hunter S. Thompson brink
"The Edge... There is no honest way to explain it because the only people who really know where it is are the ones who have gone over," Hunter. S. Thompson.
If one accepts that access to oil ''defined 20th-century empires and the petrodollar agreement was the key to the ascendancy of the United States as the world’s sole superpower'' America’s war machine runs on, is funded by, and exists in protection of oil. Threats by any nation to undermine the petrodollar system are viewed by Washington as tantamount to a declaration of war against the United States of America. The Chavez Revolution was always a rebellion in the Superpower's back yard and the machine was eventually going to bring it to heel by hook or by crook.
The Oriental Review's Andrew Korybko headlines his Article ''A Venezuelan Coup Could Challenge OPEC+ And Build “Fortress America” and writes
Russia and China aren’t capable of directly defending Venezuela even though they’ve voiced their support for international law, and their real national interests rest with ensuring that Caracas repays its billions of dollars of loans to them and respects the energy and military deals that were previously signed despite not having any way of guaranteeing that will happen if Maduro is overthrown. Therefore, the most likely international outcome of his ouster would probably be that the Washington-backed coup “authorities” would declare those deals null and void, after which they’d likely open up the world’s largest oil deposits in the Orinoco Belt to US companies. The long-term repercussions are that the US could challenge Russia and Saudi Arabia’s OPEC+ alliance and advance its “Fortress America” geopolitical project in the Western Hemisphere
Maduro is I am afraid going down just like Muammar went down and as did Saddam.
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In a country with more than 2,000 generals and admirals, only one top officer -- who commands no troops -- has pledged allegiance to @jguaido @business Law & Politics |
“The Venezuelan armed forces are one of the most spied on institutions in the world,” said Diego Moya-Ocampos, a political-risk consultant at IHS Markit in London. “The high command benefits from a complex patronage system under which they have preferential everything. In practice, Maduro leads a military government.” The Drug Enforcement Administration recently estimated that 15 to 20 tons of cocaine still move from Venezuela to the U.S. each month, according to a person who works with the agency and asked not to be identified. Much of the illicit traffic is controlled by Venezuelan military officers and government officials, according to U.S. officials, meaning their countrymen may suffer but many of them won’t. A DEA spokeswoman declined to offer more specifics. Maduro has dismissed the U.S. allegations as absurd. Asking soldiers to fall in line behind a new president “may have been an error,” said Alonso Medina, a human rights activist and lawyer. “We have to remember that for 20 years the armed forces have been an appendage of the ruling socialist party, and the opposition is only now talking to them.” Antonio Guevara, a retired colonel living in exile, also said nothing has happened to generate a fracture in the armed forces. “The high military command remains united, and cracks haven’t yet turned into fractures that could generate destabilization,” he said. He added that in previous uprisings the key to action lay in the hands of mid-level commanders who oversee troops. So far there is no evidence that they are budging.
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10-DEC-2018 :: Truce dinner @Huawei Law & Politics |
Sirloin steaks, Catena Zapata Nicolas Malbec [2014] Huawei Technologies Co. and Wanzhou Meng
You will recall that Presidents Trump and Xi Jinping enjoyed a much anticipated ''Truce'' Dinner at the G20 in Buenos Aires and quaffed a Catena Zapata Nicolas Malbec [2014] wine with their sirloin steaks and finished it all off with caramel rolled pancakes, crispy chocolate and fresh cream, a dinner that ran over by 60 minutes and one where the dinner Guests broke out into spontaneous applause thereafter.
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Although the Somali-speaking peoples of the Horn of Africa all generally follow the belief that they descend from a single man named Soomal @Quillette @RAbdiCG Africa |
The northerners, called the Isaak, recently have managed, alongside other clans, to establish a near-functioning democracy in the northern Somaliland (which was once a protectorate of the British Crown). To the south is the land of the Darod clans, where the civil war has been raging since the 1990s.
These Darod clans, which are still largely nomadic, gradually have been expanding southwestwards in search of new grazing lands to occupy with their herds of camels, cattle, sheep and goats. Until the late 1890s, they were barely present in what came to be called Kenya’s northern frontier, a vast arid savannah, woodland and desert that stretched west to the Sudan and north to Ethiopia.
However, by the time the British established their authority over all of the Kenya colony, and especially by the end of WWII, the Darod clans increased their numbers in the northeast of Kenya—in what is now called Wajir, Mandera and Garissa districts. These areas now have a growing and sometimes dominant Somali presence. In 1964, the Somali of northern Kenya fought a 10-year on-and-off guerrilla war against the newly established Kenyan government, in hopes of linking their territory with the newly independent state of Somalia. This strategy did not work.
From the late 19th century onwards, the British bypassed the Swahili, sending in missionaries from the coast to convert the Bantu and Nilotic speaking tribes of the Kenyan interior, these being former victims of the coastal slave trade. The modernizing elites of these groups then fought with the British during WWI and WWII, and demanded independence after the war, which they got. From an ethnographic point of view, what this means is that the descendants of the non-Muslim tribes that formerly provided the coastal Muslims with slaves were now in charge of the government and economy of Kenya, making Muslims to the northeast and on the coast a political minority within the region.
After 9/11, the southwest expansion of the Somali Darod into Kenyan territory took on a new religious dimension. The young men who man Al Shabab and the youngish “imams” who write their fatwas, the religious rulings that encourage them to bomb “infidel hotels” in Nairobi and other places, have broken away from their elders. Their violent nihilism isn’t much different in character from that of rampaging Congolese militias, except they perform their violence under cover of Jihad. But whatever the pretext, the campaign can be classified, as former Governor of Tanganyika and Zanzibar, Sir Richard Turnbull, called it, the “Darod Invasion” of northeastern Kenya.
Conclusions
a very different perspective to any one I have read before.
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Indian Tea Sales to Wilt as Kenyan Crop Jumps @markets Kenyan Economy |
Tea exports from India, the world’s second-biggest producer, may shrivel this year as a bumper crop in Kenya raises the risk of oversupply. Shipments could drop by 8 million to 10 million kilograms in the year through March from a record of 256.57 million in 2017-18 as Kenya’s output is likely to rise by as much as 60 million kilograms -- a large volume for the world market to absorb, said Azam Monem, director at Mcleod Russel India Ltd. “Once Kenya produces that volume and their prices come down, it will become very difficult for India to compete,” Monem said in an interview on Monday. Kenya delivers good quality tea at a low price, while India’s tea in that category is quite expensive in relative terms, he added. Weaker exports from India may hurt domestic producers, which have been suffering from oversupply, and local tea prices will probably remain stagnant or increase only marginally this year. Tea output in India could drop 5 to 10 percent this year because of poor weather in some of the major growing areas, Monem said. Production climbed almost 6 percent from a year earlier to a record 1.33 billion kilograms in 2017-18, according to Tea Board India data. India may export more than 30 million kilograms to Iran in 2019, from about 28 million kilograms a year earlier, as demand for good quality tea is on the rise, he said. Mcleod Russel, which traces its origins back to a partnership formed by two Englishmen in 1869 and now owns about 28,000 hectares of plantations, expects its production in India to drop to 55 million kilograms from 87 million kilograms in 2017-18 as it sold some gardens this year. The company is set to produce a further 30 million kilograms from overseas plantations in places such as Vietnam, Rwanda and Uganda.
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British American Tobacco Kenya Ltd. reports FY 2018 EPS +22.452% FY Dividend +34.615% Kenyan Economy |
Par Value: 10/- Closing Price: 638.00 Total Shares Issued: 100000000.00 Market Capitalization: 63,800,000,000 EPS: 40.85 PE: 15.618
British American Tobacco Kenya PLC FY 2018 Results through 31st December 2018 vs. 31st December 2017 FY Gross revenue 36.496b vs. 34.468b +5.884% FY Excise duty and VAT [15.746b] vs. [15.794b] -0.304% FY Net revenue 20.750b vs. 18.674b +11.117% FY Cost of operations [14.531b] vs. [13.313b] +9.149% FY Profit from operations 6.219b vs. 5.361b +16.004% FY Finance costs [338m] vs. [494m] -31.579% FY PBT 5.881b vs. 4.867b +20.834% FY Income tax expense [1.796b] vs. [1.531b] +17.309% FY PAT 4.085b vs. 3.336b +22.452% FY Dividend per share 35 vs. 26 +34.615% FY Basic and diluted EPS 40.85 vs. 33.36 +22.452% Shareholders’ funds 9.310b vs. 7.840b +18.750% Net cash from operating activities 5.300b vs. 4.714b +12.431% Cash and cash equivalents at the end of the year 190m vs. [1.652b] +111.501%
Company Commentary
Co. performed well in Kenya and across its export markets to deliver a strong set of results. The performance was dampened by the negative impact of illicit trade in cigarettes in Kenya, incidence of which tose from 12.4% in December 2017 to 14.1% in December 2018
Conclusions
Big improvement from every angle. Dividend is worth 5.485% which is a chunky slice. Looks an attractive share in my opinion.
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