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Satchu's Rich Wrap-Up
Wednesday 13th of February 2013

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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

@JohnGithongo #Mindspeak Saturday 16th February @InterConNairobi

#Mindspeak is at the @InterConHotels #Nairobi Twitpic

I thoroughly enjoyed the #Kenya7s Reception hosted by @KenyaAirways
this morning.

read more

@BarackObama 's Message to Kenyan People and a Tsunami of Messaging The Star

Macro Thoughts

Home Thoughts

Lake Magadi is a 110 Kilometers from #Nairobi Twitpic

read more

North Korea nukes the Year of the Snake M K Bhadrakumar
Law & Politics

There is no question that the editorial in the state-owned Global
Times newspaper last week penned by Zhang Liangui, a North Korea
expert who advises the Chinese Communist Party Central Committee,
needs to be taken seriously. The editorial was predicated on the
assumption that Pyongyang would go ahead with the nuclear test no
matter what it takes, and looking at the downstream it warned that
North Korea would "pay a heavy price" in terms of China's goodwill.
The salient of the editorial was its unambiguous warning that
Pyongyang would be wrong to (mis)calculate that it can play China
against the United States - "Pyongyang shouldn't misread China. China
won't put its relations with Pyongyang above other strategic

Clearly, China's political relationship with Pyongyang has touched a
low point. But then, what about China's longstanding priorities? These
are: no war on the Korean Peninsula; no destabilization of the North
Korean regime; and, a nuclear-weapon-free Korean Peninsula. China may
balk but humanitarian considerations will remain, and the long-term
relationship cannot be abandoned just like that.

Besides, North Korea has acted as a crucial buffer against the US
troops based in South Korea and Japan. Furthermore, against the
backdrop of the US' rebalancing in Asia and China's troubled relations
with Japan, Beijing needs to hedge and it can, therefore, at best
afford to press the "pause" button at this point.

China can ill afford to be distracted by another foreign policy crisis
on its doorstep when mounting domestic problems require great
attention. Clearly, China finds itself between a rock and a hard place
with the North Korean nuclear test. By a curious coincidence, the
nuclear test took place even as the Year of the Snake slithers in.
Snake years have historically had a geopolitical bite - Pearl Harbor
(1941), Tiananmen Square massacre (1989), 9/11 attacks on New York and
Washington (2001). And Xi himself was born in the snake year of 1953.


I cannot see China throwing North Korea over.

The Snake @Aiww @Hirshhorn Twitpic

Sudan: Mali's Jihadists Were Transported to Darfur - JEM [The
Vanishing Act was noteworthy]

London — Sudanese government might evacuated Malian jihadists to
Darfur from a foreign country, said a leading rebel official from the
Justice and Equality Movement (JEM) who asserted they localised their
presence in the troubled North Darfur state.

Tahir El-Faki, speaker of JEM's Legislative Assembly reiterated that
the Malian jihadist groups are in Darfur region after a large-scale
military operation carried out by the French and Malian armies against
their positions in northern Mali earlier this month.

"On Monday our people on the ground noticed their presence in Um Sidr
in North Darfur state and some areas near Kutum ", El-Faki told Sudan

However he expressed some reservations about reports saying they had
entered into Darfur through the Libyan border.

Faki went to say that their people at Jebel Um Al Owainat on the
border with Libya did not see any vehicle crossing to Sudan recently.

"So, saying they came through Libya is not accurate, unless they were
transported by helicopters or other aircrafts from Kuffra in Libya to
Kutum in North Darfur", he concluded.

Le Temps d'Algérie, an Algerian daily newspaper in French language
suggested that Qatar had dispatched two airplanes to move the leaders
of different jihadist groups that many of them are Algerians.

"This information has been circulating recently" said the director of
the French Centre for Research on Intelligence (CF2R),Eric Denécé, in
statements published by the Algerian daily on 5 February.

Eygpt, Syria - it's just the end of them By Spengler

The unthinkable is happening in the Arab world, and it's not as awful
as advertised, unless you have the misfortune to live there. Two years
and 60,000 casualties into Syria's civil war, the foreign ministries
of the West have nothing to show for their peacemaking efforts except
a wad of airline and hotel receipts.

Egypt is proceeding with grim inevitability towards financial
exhaustion. Libya has disintegrated, and Tunisia, the poster-child for
moderate Islamism, looks ugly after the murder earlier this month of
opposition leader Chokri Belaid. Yet the global consequences are

Excluding the Gulf States, the combined gross domestic product of the
major Arab countries is a bit over US$600 billion, about the same as

 The disintegration of the Arab world is a great human tragedy but a
minor economic nuisance.

Two years after I warned that the so-called Arab Spring arose from
economic failure and portended future disasters, a warning I
reiterated in 15 subsequent essays for this publication, it has come
to the attention of the foreign policy community that Egypt's economy
is in a tailspin.

Egypt's Islamist government has nothing to offer its people but hunger
- not belt-tightening, but malnutrition. The country's Minister of
Supply, Bassem Auda, told a press conference February 10 that the
bread subsidy would be cut to three pita loaves per capita (perhaps
400 calories), the Egypt Daily News reported. Half of the $3 billion
annual bread subsidy is wasted on the black market, Auda said. The
trouble is that millions of Egyptians subsist on the half that isn't
wasted. The newspaper interviewed some ordinary Egyptians after Auda's

 Most alarming is the emergence of a black market in Egyptian pounds,
with a street rate February 10 of 6.95 pounds to the US dollar,
against an official rate of 6.72. Reuters reported February 10, "A run
on Egypt's pound has left foreign currency in short supply and driven
some dealers into the streets in search of people with US dollars to
sell, spawning a new black market." Currency deflation (by nearly 15%
since the beginning of this year) will translate quickly into higher
prices for imported goods, including half of the country's food

.Even if the White House wanted more aid, it could not get it. With
the fiscal crises that nearly took down the European Community last
year and that remain the subject of bitter wrangling in the United
States, no-one wants to hear about multi-billion-dollar donations to

We have gone from "Shock and Awe" to "aw, shucks", in the bon mot of
blogger Ruth King. What the foreign policy community considered
unthinkable - state failure in Egypt and Syria - is proceeding
unimpeded by any helpful suggestions, let alone action, from the world
community. The only leader to offer aid to Egypt recently was Iranian
President Mahmud Ahmadinejad, who visited Cairo on February 5 and
promised a "big credit line" on condition that Sunni Egypt ally with
Shi'ite Iran against the West. The man has a sense of humor.
Ahmadinejad's visit, moreover, underscores the reluctance of the Sunni
Gulf monarchies to aid a Muslim Brotherhood regime that they consider
a danger to their own longevity.

What about Iran?

Sometime this year, I believe, either the United States or Israel will
attack Iran's nuclear weapons program, and the ripple effects in the
region will be minor. After Iran's Supreme Leader Ayatollah Ali
Khameini rejected the American offer of direct talks on the country's
nuclear ambitions, a successful Israeli strike (let alone a more
devastating American attack) would humiliate the Tehran regime.
Nothing fails in the Middle East like failure, and Iran's capacity to
retaliate will be far weaker than feared.


Always Dystopian but He has a Point.

Rising power Qatar stirs unease among some Mideast neighbors Reuters

In the center of Cairo, young men hold up a burning flag for the
cameras to show their fury at a nation they believe is meddling in
their country and the wider Middle East.

It's a familiar image. But it's not the U.S. flag they are waving, it
is that of Qatar, the Gulf state that has used its billions to spread
its influence in the wake of the Arab Spring.

In Egypt, Libya and Syria, where Qatar tried to play a role post-Arab
Spring, it finds itself blamed for much that has gone wrong on a local
level. Close ties to Egypt's new leaders, the Muslim Brotherhood, have
alarmed countries like the United Arab Emirates, where the Islamist
group is still banned and which in January said it had foiled a
Brotherhood-linked coup plot.

Senior officials in the UAE have long believed Qatar has long-term
strategy to use the Brotherhood to redraw the region.

"There is both greater apprehension and appreciation for Qatar two
years after the Arab awakening in the region," said Taufiq Rahim,
Executive Director of Dubai-based geopolitics consultancy Globesight.

"While prior to the revolutions, Qatar was seen more as a mediator,
its foreign policy recently has been much more proactive and in some
cases partisan."

Some Western analysts and diplomats believe Qatar's leaders have been
effectively improvising their way through the new landscape,
experimenting to see what they can achieve with the massive wealth
generated by its natural gas reserves over the past 15 years. An
estimated $17 trillion in monetisable natural gas riches still remain
in the ground.

Others, however, see a much more deliberate strategy.

"What we are seeing here is a high-stakes poker game for the future of
the Middle East," said one Gulf-based Western diplomat on condition of

As early as 2009, senior officials from the UAE were briefing their
U.S. counterparts that they believed Doha's rulers were using the
group to destabilize their neighbors. According to a diplomatic cable
released by Wikileaks, Abu Dhabi Crown Prince Mohammed bin Zayed
al-Nahayan told U.S. officials Qatar was simply "part of the

In their very occasional public statements, Qatari officials deny any
special relationship with the group. Prime Minister Hamad bin Jassim
bin Jabr al-Thani also rejected suggestions of a wider regional agenda
from Qatar.

"We have a clear policy which is not to interfere in the internal
affairs of any state," he told Kuwait's al-Rai newspaper in a
September 2012 interview.

Few take that statement at face value, however.

Qatar's funding and direct support - including weaponry and the
deployment of special forces - were key to building the capacity of
opposition fighters first in Libya.

As President Mohammed Mursi's government in Egypt has struggled with
mounting economic woes, Qatar has stepped up as an increasingly vital
financial backer. In Syria, it has been a leading supplier of rebel

But already, Qatar is feeling the heat for its actions. In Libya,
Qatar is being blamed for an increasingly destabilizing rise in
Islamist intolerance and violence. In Egypt, it finds itself caught up
in the popular dissatisfaction with Mursi and accusations of economic
imperialism: a multibillion dollar Suez Canal investment deal was
described by protesters as a foreign attempt to seize control of vital
national assets.

In Syria, critics say its shipments of arms to rebels has become a
chaotic free-for-all. Current and former Western officials say Qatari
officials and rich Arabs from Saudi Arabia and elsewhere have been
cutting ad hoc deals on the Turkish-Syrian border with a disparate
collection of opposition groups.

One problem, those who watch Qatar closely say, is that with only a
handful of senior royals and officials controlling policy it is all
but impossible for the outside world to know what their strategy is.

Officials rarely answer media requests for information and there is no
foreign ministry or government spokesman. For the handful of foreign
media based in Doha, the only way of getting official comment is to
accost officials at public events, and even then they are often

No Qatari official was available to comment on this story.

"They are simply not explaining what they are doing properly," said
one Doha-based analyst on condition of anonymity. "Conspiracy theories
are rife."

Indeed, Qatar's problems with its neighbors may be only just beginning.

"People asking questions are met with walls of silence," said the
Doha-based analyst. "That doesn't wash very well with an Egyptian who
has just been shot in the leg in Tahrir Square."


Qatar has played a very forward Role in inflecting the Arab Spring's Trajectory.

The Canard Enchaîné reported [June 2012] that Qatar has allegedly been
funding armed groups in northern Mali

Suspicions that Ansar Ed-Dine, the main pro-shari’ah armed group in
the region, has been receiving funding from Qatar has circulated in
Mali for several months.

Reports (as yet unconfirmed) that a ‘Qatari’ aircraft landed at Gao,
full of weapons, money and drugs, for example, emerged near the
beginning of the conflict.

The original report cites a French military intelligence report as
indicating that Qatar has provided financial support to all three of
the main armed groups in northern Mali: Iyad Ag Ghali’s Ansar Ed-Dine,
al-Qa’ida in the Islamic Maghreb (AQIM) and the Movement for Unity and
Jihad in West Africa (MUJWA).

The amount of funding given to each of the groups is not mentioned but
it mentions repeated reports from the French DGSE to the Defense
Ministry have mentioned Qatar’s support for ‘terrorism’ in northern
Mali. (emphasis added)

Qatar unloaded tons of weapons "like candy" (according to a US arms
dealer) in "liberated" Libya

15-AUG-2011 :: Soft Power Qatar and Al-Jazeera That was then The Emir
has embraced Hard Power since then

What I want to look at is Aljazeera and how it is a preeminent example
of soft power in this 21st century of ours. Soft power is the ability
to obtain what one wants through co-option and attraction. It can be
contrasted with ‘hard power’, that is the use of coercion and payment.
Soft power can be wielded not just by states, but by all actors in
international politics, such as NGOs or international institutions.

The idea of attraction as a form of power dates back to ancient
Chinese philoso- phers such as Laozi in the 7th century BC. “Water is
fluid, soft, and yielding. But water will wear away rock, which is
rigid and cannot yield. As a rule, whatever is fluid, soft, and
yielding will overcome whatever is rigid and hard. This is another
paradox: what is soft is strong.” Lao Tzu.

This idea was further developed by Joseph Nye of Harvard University in
his 2004 book, Soft Power: The means to success in world politics and
I happen to believe that Emir of Qatar is Nye and Lao Tzu’s very best

There are about 250,000 Qataris in a world of about seven billion
souls. That’s considerably less than 0.1 per cent. They tell me
Aljazeera is beamed into more than 200m households. Since Aljazeera
started streaming their content direct onto my lap top (my better half
calls it my love top and I told Nick Clark, who is a presenter at

‘My wife has decided to kick you out of my bed at night.’ I take the
lap top to bed when events are acceler- ating and I want to keep up)

The numbers have spiked even further. The point I am making is this.
You can have all the hard power you want but we live in an Information
and Communications Century now and in the context of that new
landscape, Aljazeera has delivered a spectacular return any way I care
to measure it, for the Emir.

And I look around at the likes of Bashar the brutal, Saleh the surreal
and Muammar and I think to myself,

‘Who is showing whom a clean pair of heels?’ ‘Who is ahead of the curve?’

The Video Wall #Aljazeera All on My Own Thanks to Everyone #Doha
@Ajelive @AJEnglish Twitpic

The fast and furious Sunni revenge By Pepe Escobar Asia Times

The unruly waves of that noxious Arab Spring never had a chance of
disturbing the placid waters of the Gulf.

Strategically, the GCC was invented - with essential American input -
to defend those poor Gulf petromonarchies from the evils of Saddam
Hussein and the Iranian Khomeinists, with its members comprising
Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates.
But when the 2011 Arab revolt exploded in Northern Africa - and then
reached the Gulf, in Bahrain, and even generated protests in Oman and
Saudi Arabia - the petromonarchies faced a larger evil that simply
petrified them: democracy. The status quo had to be protected at all

For the GCC and its top dog the House of Saud, not only Bahrain was
"contained", Saudi subjects were placated with billionaire bribes.
Ample possibilities of profiting from the geopolitical black hole in
northern Africa were also opened.

Ever since the House of Saud and the emir of Qatar, Hamad al-Thani,
got their act together, they have been on a roll - recent rumors of a
military coup against the emir notwithstanding. The "humanitarian"
bombing of Libya represented the apex of the NATOGCC embrace - with
Qatar in the forefront and the House of Saud sort of leading from

Fabulous dividends ensued. Abdel Hakim Belhaj is now Tripoli's
military commander; he's not only a former al-Qaeda-linked jihadi, but
he's also very close to Qatari intelligence.

Now Qatar and Saudi Arabia replicate their geopolitical acumen in
Syria: in the absence of the North Atlantic Treaty Organization
(NATO), they weaponize mercenaries - including jihadis and
transplanted Libyan NATO rebels - forcing a civil war. Both the House
of Saud and Qatar know that betting on inflaming sectarian
Sunni-Shi'ite divisions always goes down well in Washington.

And there's also the extra bonus of further Wahhabi penetration in
northern Africa - via the funding of Islamists in both Tunisia and
Egypt. Qatar has offered $10 billion of investment in Egypt to the
Muslim Brotherhood. And Qatar is now in fact controlling a great deal
of Libya's energy resources - which means it will profit handsomely
from gas exports to Europe.

Doha can be seen as a vastly more palatable version of Medieval Riyadh
- complete with cutting-edge architecture and the Qatar Foundation
imprinted on FC Barcelona's jerseys. The cunning emir is more than
happy to play to the Anglo-French-American gallery and use all manner
of Western trappings in the larger plot of a Gulf cover story for the
Western redesign of Middle East geopolitics.

Essentially, call it the Fast and Furious Sunni Revenge. As the
sheikhs see it, they are winning a sectarian war against Shi'ites in
Iran; Shi'ites in Bahrain; Hezbollah in Lebanon; the Alawites in
Syria; and they are on the offensive against the Shi'ite majority
government in Baghdad.

read more

G-7 Roils Currency Markets With Split on Concern Over Yen Bloomberg
International Trade

The yen whipsawed as the G-7 appeared at first yesterday to signal
joint acceptance of the Japanese currency’s recent drop, only to see
its members offer contradictory interpretations of the group’s stance.
One G-7 official said there’s concern about excessive moves in the
yen, while the U.K. said the group wasn’t singling out an individual
country or exchange rate.

The confusion will keep the spotlight on the threat of a so-called
international currency war and Japan’s push for monetary stimulus when
finance ministers from the Group of 20 gather this weekend in Moscow.

“The world wants a clear, coherent message from the leaders of the
developed world,” said Mike Moran, senior currency strategist at
Standard Chartered Plc in New York. “The G-20 is now going to be the
key focus. Clearly the onus is on Japan.”

The G-7 broke into the European trading morning with its first
statement on exchange rates since September 2011, in which it pledged
to keep economic policies directed at domestic needs and disavowed
targeting currencies.

With global economic growth still weak, that has raised concern about
a 1930s-style round of competitive devaluations, with policy makers
from Canada to Germany questioning how central the yen is to Abe’s
attempt to end deflation and whether their exporters will be hurt as a

“Now we have to see the actual outcome of the G-20,” said Richard
Gilhooly, an interest-rate strategist at Toronto- Dominion Bank’s TD
Securities unit in New York. “The zero-sum- game nature of
devaluations is that Japan’s extra growth is at the expense of those
with stronger currencies.”


Its a Race to the Bottom and The Euro is going to trade higher through
this Currency Cross Fire.

Currency Markets at a Glance WSJ

Euro 1.3477
Dollar Index 79.93
Japan Yen 93.33
Swiss Franc 0.9178
Pound 1.5647
Aussie 1.0344
India Rupee 53.845
South Korea Won 1086.18
Brazil Real 1.9703
Egypt Pound 6.7190
South Africa Rand 8.9092

Japan’s currency has tumbled 18 percent in the past three months, the
worst performer among 10 developed-nation currencies tracked by
Bloomberg Correlation-Weighted Indexes. The euro rose 4.8 percent,
while the dollar declined 1.7 percent.

Dollar Yen 5 Day Chart INO 93.35 Last [Whipsawing]

The yen strengthened for a second day against the dollar before a
Group-of-20 meeting this weekend at which officials may debate the
currency’s recent declines.Japan’s currency rose versus 13 of its 16
major peers after the Group of Seven issued a statement yesterday
calling for market-determined exchange rates, while an official said
the nations were concerned about excess moves in the yen.

Euro versus the Dollar 3 Month Chart 1.3465

Dollar Index 3 Month Chart INO 79.933 Last

read more

Dollar versus Rand 5 Day Chart INO 8.89686 Last

Egypt Pound versus The Dollar 3 Month Chart INO 6.7170 Last

Moody’s Investors Service cut Egypt’s rating for a fifth time in two
years Bloomberg

Moody’s Investors Service cut Egypt’s rating for a fifth time in two
years, citing political violence that is setting back the prospect of
economic recovery, and delays to a $4.8 billion International Monetary
Fund loan.

The reduction took Egypt’s rating to B3, six levels below investment
grade and on par with Ukraine and Argentina.

Even if the IMF loan comes through quickly, the “current deep
political schisms and worsening social unrest make it even harder for
the government to pursue a meaningful reform agenda,” including
lowering subsidies and cutting the public sector workforce, Raza Agha,
chief Middle East and Africa economist for VTB Capital Plc, wrote in
an e-mailed note.

Yields on Egypt’s benchmark dollar-denominated bonds surged yesterday
to the highest since June. They retreated 1 basis point to 6.80
percent at 11 a.m. in Cairo today. The pound has dropped 7.9 percent
since the central bank started auctioning dollars to local lenders in
December, limiting access to the U.S. currency.


It really looks very grim and I do not believe President Morsi has the
Toolkit or the wherewithal to inflect the Trajectory.

read more

Barclays Bank reports FY 2012 Earnings FY Profit After Tax +7.741% details here share Price +4.761% 2013
Kenyan Economy

Par Value:                  2/-
Closing Price:           16.50
Total Shares Issued:          5431540000.00
Market Capitalization:        89,620,410,000
EPS:             1.61
PE:             10.248

FY Results through Dec 2012 versus Dec 2011

Loans and advances to Customers 104.204295b versus 99.072495b
Total Assets 184.825892b versus 165.993878b
Customer Deposits 137.915391b versus 124.207289b
Total Liabilities 155.242443b versus 139.000971b
Total Interest Income 21.041003b versus 17.632272b
Total Interest Expenses 2.895835b versus 1.296149b
Net Interest Income 18.145168b versus 16.336123b
Total Non Interest Income 9.279219b versus 10.001966b
Total Income 27.424387b versus 26.338089b
Operating Expenses
Loan Loss Provision 0.144376b versus 0.728680b -80.186%
Total Operating Expenses 14.404643b versus 14.267534b
FY Profit Before Tax 13.019744b versus 12.070555b +7.86367%
FY Profit After Tax 8.740703b versus 8.112637b +7.741%
FY Earnings Per Share 1.61 versus 1.49 +8.0536%
FY Dividend 70 cents a share
[Barclays paid an Interim of 30cents a share]


Barclays has reported a +7.741% FY PAT Increase.
The Loan Loss Provision of 80.186% was helpful
The Total Dividend Pay Out inclusive of the Interim is 1 shilling a share.
The Dividend Pay Out Ratio is 62.111%

KenGen lines up shareholder cash call to fund projects Business Daily

Capital Markets Authority acting chief executive Paul Muthaura said
Tuesday that the Kenya Electricity Generating Company (KenGen),
supermarket chain Uchumi and logistics firm Express Kenya are expected
to tap the capital market for funds this year.

Uchumi Supermarkets and Express Kenya last year announced that they
intended to raise funds for expansion, while KenGen is yet to make its
intention public.

“KenGen also indicated the possibility of having a rights issue. This
is prospected for 2013,” said Mr Muthaura.

KenGen, which is 70 per cent owned by the government, sold 658.9
million shares of its 2.198 billion shares through an initial public
offering in April 2006 at Sh11.90 each.

This was 30 per cent of its share capital, after which the company
listed its stock at the Nairobi Securities Exchange the following

In November 2009, KenGen sold infrastructure bonds worth Sh23.43
billion to fund its projects which included upgrade of its hydro-power
plants, geothermal, thermal and wind power generators.

“If you look at the money that they need, they are still behind''

Kenya Electricity share price data here +41.477% 2013

Par Value:                  2.50/-
Closing Price:           12.45
Total Shares Issued:          2198361344.00
Market Capitalization:        27,369,598,733
EPS:             1.29
PE:                 9.651

Full Year through June 2012 versus Full Year through June 2011
Electricity Revenue 15.999b versus 14.389b +11.189%
Operating Expenses [10.266b] versus [10.014b]
Finance Costs Net [2.972b] versus [1.997b] +48.823%
Profit Before Tax 4.045b versus 3.651b +10.791%
Profit After Tax 2.822b versus 2.080b +35.67%
Other Comprehensive Income [0.962b] versus [0.633b]
Earnings Per Share 1.29 versus 0.94 +37.234%
Final Dividend 0.60 versus 0.50 +20%

Geothermal OlKaria IV Kenya Twitpic

The President launches OlKaria IV The Geothermal Gig #Kengen Twitpic

Kenya Shilling versus The Dollar Live ForexPros

Nairobi All Share Bloomberg  +15.1486% so far in 2013

Nairobi ^NSE20 Bloomberg  +12.0977% in 2013 a 27 Month High

Every Listed Share can be interrogated here

read more

N.S.E Today

The Nairobi All Share firmed 0.27 points to close at 109.50.
The Nairobi All Share is +15.433% in 2013 and has accelerated sharply this Year.
The Nairobi ^NSE20 Index firmed 14.61 points to close at 4648.09.
The Nairobi ^NSE20 is 12.4606% in 2013 and this is a 27 Month High.
Equity Turnover was 989.889m versus 983.871m and the sharpened Volumes
of late attest to the Bona Fides of the Bull Move.
Barclays Bank reported FY Earnings where FY Profit Before Tax
increased +7.86367%, FY Profit After Tax increased +7.741% and FY
Earnings Per Share increased +8.0536%. The Final Dividend is 70cents a
share and that is added to an Interim Dividend of 30cents a share.
Barclays Bank retreated 2.121% to close at 16.15 and traded 1.794m
shares. The Bank reported that its Loan Loss Provision was reduced by
-80.186% and this was helpful with respect to the Results. The Final
Dividend is worth 4.334% of Yield and will underpin the Price after
todays Drawdown.
Nation Media +22.171% in 2013, Kenya Commercial Bank +29.411% in 2013,
EABL  +18.867% in 2013 all set Fresh All Time Highs.
Diamond Trust and BAT and Athi River Mining regained their all time
Highs levels which were set earlier in the Year.
Access Kenya +51.136% in 2013 is the best performing share this Year.

Time and again I heard him say, "Well, this is a bull market, you
know!" as though he were giving to you a priceless talisman wrapped up
in a million-dollar accident-insurance policy. And, of course, I did
not get his meaning. Reminiscences of a Stock Operator published in

N.S.E Equities - Commercial & Services

Nation Media rallied 3.448% to close at 270.00 and set a Fresh All
Time Closing High. Nation Media traded 27,100 shares. Nation Media is
+22.171% in 2013. Nation Media trades on a Trailing PE of 21.26 and
accelerated H1 Profit After Tax +25.253%.

Nation Media share price data here +22.171% 2013 Record High

Par Value:                  2.50/-
Closing Price:           270.00
Total Shares Issued:          157118576.00
Market Capitalization:        42,422,015,520
EPS:             12.7
PE:                 21.260

Safaricom closed unchanged at 5.70 and traded 20.901m shares.
Safaricom is +12.871% in 2013 and targets 6.00 the August 2010
Intraday High struck on 9th January this Year.

Access Kenya rallied 4.7244% to close at 6.65 and traded 527,600
shares. Access Kenya is now the best performing share at the Nairobi
Securities Exchange and is +51.136% in 2013. This is a 19 Month
Closing High. The Rally in Access Kenya speaks to the broadening out
of the Rally at the Nairobi Securities Exchange which is a bullish

Access Kenya share price data here +51.136% 2013

N.S.E Equities - Finance & Investment

Kenya Commercial Bank firmed 0.653% to close at 38.50 and set a
further Fresh All Time Closing High. Kenya Commercial Bank traded
1.746m shares. Kenya Commercial Bank has rallied 29.411% in 2013 and
Investors are keenly anticipating the FY Earnings Release at the End
of the Month.

Kenya Commercial Bank share price data here +29.411% 2013 Record High

Diamond Trust firmed 0.7194% to regain its all time closing High level
of 140.00 which was previously reached on the 11th of this Month.
Diamond Trust is +21.739% in 2013.
COOP Bank firmed 1.44% to close at 14.05 and traded 827,000 shares.
COOP Bank is +11.5079% in 2013.

NIC Bank corrected 3.7433% off an All Time Closing High to close at
45.00 and traded 21,100 shares.

N.S.E Equities - Industrial & Allied

EABL was once again the most actively traded share at the Securities
Exchange. EABL firmed 0.3184% to close at 315.00 and set a Fresh All
Time Closing High. EABL traded 2.005m shares. EABL is +18.867% in 2013
and is releasing its H1 Earnings Friday Morning.

EABL share price data here +18.867% 2013 Record High

Athi River Mining firmed 1.69% to close at 60.00 and has regained its
All time high previously set on the 7th of February. ARM traded
183,900 shares. ARM is +34.529% in 2013.

Athi River Mining share data here +34.529% 2013 and at a Record High

Bamburi Cement firmed 1.8433% to close at 221.00 and traded 5,700
shares. Bamburi Cement is +19.459% in 2013 and this is a more than 60
Month High.

Bamburi Cement share price data here +19.459% 2013 60+ Month High

KenGen eased 1.204% to close at 12.30 and traded 449,400 shares. The
CMA's Paul Muthaura is reported to have signalled a Rights Issue for
KenGen this Year. KenGen is +39.772% in 2013.

BAT firmed 0.1855% to close at 540 and regain its All Time Closing set
14th-18th January this Year. BAT is +9.97% in 2013. BAT traded 49,900

BAT share price data here +9.97% 2013

by Aly Khan Satchu (www.rich.co.ke)
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February 2013

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