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Tuesday 22nd of October 2013
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Morning Africa |
Register and its all Free.
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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Voluntary Principles on Security and Human Rights Africa |
The Voluntary Principles are the only human rights guidelines designed
specifically for extractive sector companies. Participants in the
Voluntary Principles Initiative -- including governments, companies,
and NGOs -- agree to proactively implement or assist in the
implementation of the Voluntary Principles.
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The Extractive Industries Transparency Initiative #EITI Africa |
The EITI maintains the EITI Standard. Countries implement the EITI
Standard to ensure full disclosure of taxes and other payments made by
producing oil, gas and mining companies. These payments are disclosed
in an annual EITI Report (to see all EITI Reports, go to
datat.eiti.org). This report allows citizens to see for themselves how
much their government is receiving from their country's natural
resources.
Transparency can only lead to accountability if there is understanding
of what the figures mean and public debate about how the country's
resource wealth should be managed. Therefore, the EITI Standard
requires that EITI Reports are comprehensible, actively promoted and
contribute to public debate.
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With Thanks to Kevin Arnold Winemaker Extraordinaire Africa |
Kevin Arnold Waterford Estate Stellenbosch
http://www.wineanorak.com/southafrica/waterford.htm
Next stop in my Stellenbosch journey was Waterford Estate, my first visit here.
Kevin Arnold began Waterford Estate 12 years ago. He'd previously been
winemaker at Rust en Vrede, and found a partner willing to invest in a
new project. The partner, Jeremy Ord, had made money from a
Johannesburg-based IT company. 'He helped me fulfil my dream, to build
and plant a winery and vineyard,' says Arnold.
The 120 hectare Stellenbosch estate, with 50 hectares of vineyards,
was previously part of the Stellenrust farm. 11 red grape varieties
were planted, because Kevin wanted to explore which varieties worked
best, rather than just copying everyone else. 'Traditional Cabernet
blends have been done: there is so much more to do.' The terroir here
isn't soil, but more just rock and stone. 'It's very challenging
viticulturally, but very rewarding,' says Arnold.
Macro Thoughts
Home Thoughts
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I read M.G Vassanji's The Magic of Saida Africa |
M. G. Vassanji: I would describe it as a love story that in its
development and description tells other stories. It is set in Kilwa,
the ancient town on the east coast of Africa, which is associated
historically with slavery, international (Indian Ocean) trade, and
twentieth-century colonialism, as well as Swahili culture and poetry.
This history is manifest in various forms in the lives of the people.
The story of Kilwa is therefore also the story of the two childhood
sweethearts in the book. Thus, the boy Kamal is mesmerized by the
history narrated by the old poet of the town.
Vassanji: Sometimes, it's hard to remember. I think I had the town of
Kilwa in mind, having read about it. It has a certain romance to it,
being ancient. It's one of the oldest urban settlements in sub-Saharan
Africa. The Arab traveler Ibn Batuta mentions it in the fourteenth
century; the English poet John Milton mentions it. It's older than
Delhi. Its descriptions in old Portuguese texts are fantastic. Then
there was the mystique of magic--which is very strong in Tanzania. I
got fascinated by Swahili culture.
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"The past is a dangerous business, warned Akilimali; it is best to keep it buried." Africa |
Vassanji deftly develops a rich portrait of village life, with its
close bonds and closer conflicts. It's a world steeped not only in
faith, but in magic. Saida's grandfather, for example, is reportedly
in control of a djinn, which contributes to his poems; when the djinn
is spurned, it seems to take revenge on the old poet, and is blamed
when the man is found hanged.
The world of the past, of Kamal's boyhood in Kilwa, and his forced
relocation to Dar es Salaam, where he lives with his father's family
to reclaim his Indian heritage, blurs together with Kamal's
present-day exodus to Tanzania to try to locate Saida, whom he last
saw as he was about to leave for university in Uganda. The narrative
is framed and recounted by Martin Kigoma, a Tanzanian publisher, who
encounters Kamal in a hospital in Dar es Salaam where he is recovering
from what he believes to be poisoning.
It's an interesting narrative approach, and allows for fluid,
non-linear storytelling that brings the past and the present, the
recounted and the shown, the pedestrian and the magical, into a
crystalline narrative immediacy. It's a bravura performance, but
subtle and understated.
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Africa Reflections on the State of the Now Law & Politics |
It was on May 13th 2000 that the venerable Economist Magazine carried
the Headline ''The Hopeless Continent'' and The Picture was of a Male
African emerging out of the Continent, with a heavy weapon slung over
his Shoulder. Today and a little more than a Decade later, the Africa
Narrative is now sprinkled with lashings of ''Africa Rising'' Its
never been and probably never will be a Linear Progression but clearly
what were once small Pockets of Acceleration have broadened out and
not too long ago the Economist pointed out that Six of the fastest
growing Economies in the World are in Africa. The Point to understand
is that the African Emergence is a relatively recent Phenomenon. The
Challenge for many African Governments is going to be of a very
youthful Population wanting it now. This new Generation is surfing the
c21st via their Mobile Phones and their Needs and Wants are a Multiple
of any preceding Generation. This new Generation will reshape and
force the reconfiguration of Governments across Africa as they are
forced to react to a New Normal [of heightened Expectations amongst
its Citizens].
Now an Electorate can have heightened Expectations but simply no
Leverage with which to pressure its Government. Today the Pressure
Points are growing exponentially. For three whole days during the
#Westgate Crisis, the Hashtag #StepasideOlelenku was the Top Trending
Hashtag in this region. I feel sorry for the Cabinet Secretary because
I suspect some undiluted Old Guard Elements probably whispered ''Say
This'' and ''Say That'' with no regard or even comprehension of the
New Normal and little regard for the fact that they were shredding the
Cabinet Secretary's Bona Fides. The Electorate is breaking out of its
Box. PWC in its Africa Business Agenda Report 2013 noted;
''A significantly higher percentage of CEOs in Africa recognise the
power of social media users compared to their global counterparts.''
And ''of the critical influence of the social media on public perceptions.''
The Mobile Phone [The Financial Times recently reported that in a
seven-year period mobile phone subscriptions had risen to 475 million
from 90 million in sub-Saharan Africa] has been a Silver Bullet and a
Game Changer, it has been very grass roots [Anyone can own one] and it
has been the Catalyst for creating a New Communications Ecosystem.
Mohamed Ibrahim the totemic and trail blazing African Entrepreneur and
Founder of Celtel [The Mobile Phone Company] and therefore a Key Agent
of Change and Precipitator of this New Normal has done much
outstanding Service for Africa, not least of which was his Mohamed
Ibrahim Prize and Index. The Ibrahim Index was important because it
marked the beginning of the narrowing of the Perception Gap around
Africa. Ibrahim brought a Science and a Methodology to the Study of
the Continent. Today, there are a Proliferation of these types of
Studies but it all started with Ibrahim. For Eternity, Africa was the
realm of the Imagination and oftentimes the wildest of wild
imaginations. Of course, the Failure to award the African Leadership
Prize for the 4th Occasion out of 7 captured headlines but what caught
my attention was this; The Rule of Law and Safety Index [In Country
and not cross Border conflict related] was the Only Index which has
deteriorated. The World Economic Forum also made a similar Finding.
This is an Alarm Bell and I think speaks to a consequence of a Failure
to meet the rising expectations of our People. Our Societies more
urbanised than ever before are becoming more personally dangerous and
it appears to be a Sub Saharan wide Phenomenon. Its not an external
Challenge but an Internal Fissure.
Ibrahim said "We should not rush into thinking that improvement will
happen instantly. Don't forget it took China 40 years to get where it
is now"
Unfortunately, I know of No One who has a 40 Year Time Horizon.
These are interesting and very fluid times.
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The Hopeless Continent The Economist Law & Politics |
Zuma Condemns Western Nations' Intervention in Africa
http://www.bloomberg.com/news/2013-10-18/zuma-condemns-western-nations-intervention-in-africa.html
South African President Jacob Zuma criticized interventions by the
U.S. and other Western nations in African conflicts that he says have
left countries such as Libya worse off.
In an interview with Paris-based France 24 today, Zuma raised concerns
about the U.S. raid on a Somali town earlier this month to capture a
leader of the Islamist group al-Shabaab.
"It does bother us, because we are here on the continent," Zuma said.
"We need to be dealing with the continent. People who feel they need
to make a contribution or assist should be assisting the Africans
rather than to boldly say we are coming into your continent and do
what we want."
At the same time as the Somali raid, U.S. special forces captured an
al-Qaeda leader, known as Abu Anas al-Libi, off the streets of Libya,
prompting criticism from the North African government that the U.S.
didn't inform them of the operation in advance. The U.S. and its
allies in the North Atlantic Treaty Organization used military force
to help the opposition to overthrow Libyan leader Muammar Qaddafi in
2011, action that was opposed by Zuma.
"As African countries we had a road map on how to deal with the Libyan
issue," Zuma said. "Then the big countries bombed it and killed
Qaddafi and left a worser security situation in the north of Africa."
Since Libya's first free election in more than 50 years in 2012,
militias who led the fighting against Qaddafi, including some
Islamists, have been using force to exact concessions and expand their
power.
Zuma defended his support of the French government's intervention in
Mali in January to prevent Islamist rebels allied to al-Qaeda from
taking control of the north of the country.
"Rebels were attacking Mali, they were about to take over Mali," he
said. "The French talked to us. They did not just come in and bomb."
Zuma also welcomed help from France in Central African Republic, which
is struggling to restore order after Seleka rebels ousted President
Francois Bozize in a coup in March, prompting international
condemnation and the country's suspension from the African Union.
"I think we have passed that stage when colonial countries would come
and do whatever by force because they had colonized us," said Zuma.
"We are countries that are trying to look after the security of the
continent. There should be working together to deal with terrorists
all over."
Conclusions
Zuma and Hollande seeking to counterbalance the US?
The first-of-its-kind program is drawing on troops from a 3,500-member
brigade in the Army's storied First Infantry Division, known as the
Big Red One, to conduct more than 100 missions in Africa over the next
year NYT
http://www.nytimes.com/2013/10/19/world/africa/us-prepares-to-train-african-forces-to-fight-terror.html?ref=africa&_r=0
The missions range from a two-man sniper team in Burundi to 350
soldiers conducting airborne and humanitarian exercises in South
Africa.
The brigade has also sent a 150-member rapid-response force to
Djibouti in the Horn of Africa to protect embassies in emergencies, a
direct reply to the attack on the United States Mission in Benghazi,
Libya, last year, which killed four Americans.
"Our goal is to help Africans solve African problems, without having a
big American presence," said Lt. Col. Robert E. Lee Magee, a West
Point graduate and third-generation Army officer whose battalion has
sent troops to Burundi, Niger and South Africa in the past several
months, and whose unit will deploy to Djibouti in December.
President Obama, at a news conference three days after the commando
raids, said Africa was one of the places "that you're seeing some of
these groups gather."
"And we're going to have to continue to go after them," he added.
For that reason, it is no surprise that the military's Africa Command
is the test case for this new Army program of regionally aligned
brigades that will eventually extend to all of the Pentagon's commands
worldwide, including in Europe and Latin America next year. These
forces will be told in advance that their deployments will focus on
parts of the world that do not have Army troops assigned to them now --
creating a system in which officers and enlisted personnel would
develop regional expertise.
Gen. Ray Odierno, the Army chief of staff, said in an interview that
the goal was to field an Army that could be "engaged regionally in all
the combatant commands to help them shape their theaters, set their
theaters, in order to sustain and execute our national security
strategy."
"When the tire meets the tar, that's when you actually learn the most
lessons," Brig. Gen. Lawrence Reginald Smith, the South Africa force
commander there, said in a telephone interview. "What we bring to the
table is knowledge of the indigenous people and the rebels who come
from those people, including how they act."
US has such a decisive and embedded 'Full Spectrum' military lever
across the continent 01-JUL-2013 @BarackObama Comes to Africa
http://www.rich.co.ke/media/docs/038NSX0107.pdf
The President has been very hard edged in deploying US hard power. The
two architects of the R2P doctrine, which was deployed with effect to
topple Muammar Gaddafi, Susan Rice and Samantha Power are key players
in the second administration and have the President's ear. My point is
that the US has established a gatekeeper position via its military
insertion in Africa.
I think the #STOPKONY and #KONY2012 Campaign was an outstanding c21st
example of Engineering Consent not for the Search for Kony but for
legitimising Intervention by the US and/or its Allies.
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Joseph Kony Law & Politics |
@BarackObama in Africa
http://www.cgdev.org/sites/default/files/styles/home_feature_rotator_large/public/obama_plane.jpg
The Engineering of Consent Edward L. Bernays
http://gromitinc.com/lego/Library/Engineering_of_consent.pdf
The tremendous expansion of communications in the United States has
given this Nation the world's most penetrating and effective apparatus
for the transmission of ideas. Every resident is constantly exposed to
the impact of our vast network of communications which reach every
corner of the country, no matter how remote or isolated. Words hammer
continually at the eyes and ears of America. The United States has
become a small room in which a single whisper is magnified thousands
of times.
Knowledge of how to use this enormous amplifying system becomes a
matter of primary concern to those who are interested in socially
constructive action.
The conscious and intelligent manipulation of the organized habits and
opinions of the masses is an important element in democratic society.
Those who manipulate this unseen mechanism of society constitute an
invisible government which is the true ruling power of our country. We
are governed, our minds are molded, our tastes formed, our ideas
suggested, largely by men we have never heard of.
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Nixon explained I call it the Madman Theory, Bob. Law & Politics |
I want the North Vietnamese to believe I've reached the point where I
might do anything to stop the war. We'll just slip the word to them
that, "for God's sake, you know Nixon is obsessed about communism. We
can't restrain him when he's angry--and he has his hand on the nuclear
button" and Ho Chi Minh himself will be in Paris in two days begging
for peace.[1]
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President Nixon Law & Politics |
"No matter how the official narrative of this turns out," it seemed to
Heidi, "these are the places we should be looking, not in newspapers
or television but at the margins, graffiti, uncontrolled utterances,
bad dreamers who sleep in public and scream in their sleep."
-- Thomas Pynchon, Bleeding Edge
A screaming comes across the sky. It has happened before, but there is
nothing to compare it to now. Thomas Pynchon
http://www.brainyquote.com/quotes/authors/t/thomas_pynchon.html
Military rally, suicide attack highlight Shabaab's resilience in
Somalia Long War Journal
http://www.longwarjournal.org/threat-matrix/archives/2013/10/military_rally_suicide_attack.php
Yesterday, a Shabaab suicide bomber killed 16 people, including
soldiers, in an attack at a cafe in the town of Beledweyne in
Somalia's Hiran governorate. The town is close to the Ethiopian
border, and Shabaab said it was targeting African Union forces based
there. From the BBC:
Al-Shabab said its target was Ethiopian and Djiboutian soldiers in Beledweyne.
The bombing occurred at a tea shop popular with the troops in
Beledweyne, 300km (185 miles) north of the capital, Mogadishu, close
to the border with Ethiopia.
"Our main target was Ethiopian and Djibouti troops who invaded our
country," Sheikh Abdiasis Abu Musab, al-Shabab's military operations
spokesman, said.
But witnesses, including a Somali MP in Beledweyne, Dahir Amin Jessow,
have told the BBC that most of those killed were civilians.
Yesterday's suicide attack was preceded by a large Shabaab military
rally in the town of Bulobarde, which is also in Hiran and is about 90
miles south of Beledweyne. Shabaab released 13 photographs of the
rally, which was held on Oct. 16. The photographs were obtained by the
SITE Intelligence Group; four of them are published above.
When the military seized power in Egypt in July, the cable of
congratulations from the United Arab Emirates took less than an hour
Bloomberg
http://www.bloomberg.com/news/2013-10-21/islamist-threat-unmasks-emirates-policy-shift-as-immunity-fades.html
"It needs to crush the Brotherhood in Egypt to crush the movement at
home," said Ghanem Nuseibeh, the London-based founder of Cornerstone
Global Associates, which advises clients on risk in the Middle East.
"Since the Brotherhood is based in Egypt, the fight had to happen on
its home turf."
The U.A.E. pledged $3 billion in aid to Egypt since the military took
over and encouraged the crackdown on Brotherhood officials. Egyptian
Prime Minister Hazem El Beblawi will start a three-day visit to the
U.A.E. on Oct. 25, Egypt's state-run Middle East News Agency reported
yesterday.
Egypt said it would return $2 billion to the country, while Egyptian
Oil Minister Sherif Ismail said his ministry is no longer
communicating with Qatar over further gas shipments. The Al Mal
newspaper reported last month Qatari Diar Real Estate Investment Co.'s
Sinai project was put on ice.
Saudi Arabia, the U.A.E. and Kuwait are stepping in to fill the void,
said Emad Mostaque, a London-based strategist at emerging markets
specialist Noah Capital Markets.
Shortly after Mursi was toppled, the three countries together pledged
$12 billion of aid. Kuwait last month sent Egypt $2 billion of
deposits, Egypt's state-run Al-Ahram newspaper reported, citing
central bank Governor Hisham Ramez. Egypt expects more aid from Gulf
nations, Ramez said Sept. 29.
"Gulf monarchies are generally uncomfortable with the Brotherhood"
because the group believes "there's no monarchy in Islam," said
Mostaque. "The U.A.E. used to just take away passports of Brotherhood
members, but the recent jail terms that you see is a dramatic change."
The 69 people the U.A.E. sentenced to seven to 15 years in jail on
July 2 were part of a group of 94 with alleged links to Islah accused
of establishing secret cells to seize power.
"When the military took powers away from Mursi, you could almost hear
this collective sigh of relief," said Boghardt at the Washington
Institute. "The U.A.E. was so anxious about the rise of the
Brotherhood in Egypt because the U.A.E. in particular saw this group
as the most significant threat in terms of its own domestic security."
Conclusions
Saudi Arabia, UAE and Kuwait have proven reliable Allies for the
Government in Egypt and especially financially.
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"Africa is front and center now for the Pentagon, so that means Lemonnier is front and center," said Rudolph Atallah, former counter-terrorism director for Africa at the Defense Department Africa |
Now Pentagon planners see the base as the center of a constellation of
U.S. military sites across Africa, including small facilities in Manda
Bay, Kenya; Entebbe, Uganda; and the West African nation of Burkina
Faso.
In September, the Pentagon awarded Houston-based Kellogg, Brown & Root
a contract for support services at Manda Bay. Navy engineers recently
extended the runway there -- on a mangrove-covered island near Somalia
-- to allow it to handle larger aircraft, such as C-130 cargo planes.
In Africa, China's political stability looks good compared to the US PRI
http://beta.pri.org/person/aly-khan-satchu
"More hydrocarbons have been discovered in East Africa in the last two
years than anywhere else in the world," a senior oil company executive
told Page
http://www.energytribune.com/79521/east-africa-oil-discoveries-breed-challenges#sthash.8uOZO2AO.dpbs
"Unfortunately, the capacity to negotiate contracts is still mired in
secrecy and underhanded dealings," Kimenyi said. "My take is that
contracting is still not open and there is still a great deal of
'conspiracy' between foreign firms and the local leaders."
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Mozambique army launches retaliatory attack on Renamo Africa |
Mozambique's army launched a retaliatory attack on the mountain
headquarters of the opposition Renamo movement on Friday, a day after
a rebel ambush in which seven soldiers were killed, senior Renamo and
government officials said.
The assault on Renamo's hideout in the remote Gorongosa mountains
started in the middle of the afternoon, Renamo Member of Parliament
Ivone Soares told Reuters after being granted safe passage by police
through the front line.
A police commander in the central Sofala province said "lots of
injured" were being taken to hospital after the worst flare-up in a
year of tensions between government forces and Renamo, a guerrilla
movement that waged a 1975-1992 civil war.
Mozambique's opposition and former rebel movement said a peace deal
signed in Rome in 1992 with the ruling party is over following an
attack by government troops on its headquarters
http://www.bloomberg.com/news/2013-10-21/mozambique-s-renamo-says-peace-deal-over-after-attack.html
The military today attacked the base of the Mozambique National
Resistance party, known as Renamo, in Satunjira in the central Sofala
province, Fernando Mazanga, a spokesman for the group, said at a press
conference today. Renamo leader Afonso Dhlakama was forced to take
refuge in the nearby Gorongosa mountains, he said.
"Dhlakama is alive and in good health despite that attack," he said.
"The attack definitely puts to an end the Rome peace agreement and
from now on we cannot assure what will happen."
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Sun Rise #Maputo Polana Hotel #Mozambique Africa |
South Africa All Share Bloomberg +18.16% 2013
http://www.bloomberg.com/quote/JALSH:IND
Dollar versus Rand 6 Month Chart INO 9.8394
http://quotes.ino.com/charting/index.html?s=FOREX_USDZAR&v=d6&t=c&a=50&w=1
Egypt Pound versus The Dollar 3 Month Chart INO 6.8876
http://quotes.ino.com/charting/index.html?s=FOREX_USDEGP&v=d3&t=c&a=50&w=1
Egypt EGX30 Bloomberg +14.29% 2013 [Highest Level since 26th January
2011 and First Time above 6,000 since then]
http://www.bloomberg.com/quote/CASE:IND
Nigeria All Share Bloomberg +36.90% 2013
http://www.bloomberg.com/quote/NGSEINDX:IND
Ghana Stock Exchange Composite Index Bloomberg +76.38% 2013 [All Time Highs]
http://www.bloomberg.com/quote/GGSECI:IND
General Electric Africa chief executive has been named the continent's
business leader of the year.
http://www.nation.co.ke/business/GE-boss-is-named-leader-of-the-year/-/996/2041762/-/11e3bju/-/index.html
Mr Jay Ireland was conferred with the title during the African
Investor Business Awards ceremony held in Johannesburg last week.
"Africa's investment profile has seen a historic turnaround in the
last 12 months. The leadership awards have also increased confidence
in the continent to compete internationally," said Mr Hubert Danso,
chief executive officer of Africa Investor at the event.
Earlier, Mr Ireland had been named the employer and Human capital
Investor of the year during the World Bank Annual meetings in
Washington DC, United States.
GE is headquartered in Kenya. The company has supported the country's
infrastructure growth in the energy sector, power, healthcare and
aviation. Its key clients are Safaricom and Kenya Airways.
Under his leadership, the company's investment in Africa increased
immensely in Nigeria, Angola and Ghana.
Mr Ireland said the company was awarded because of its efforts in
bridging infrastructure gaps in the continent across critical sectors
like Healthcare, Energy, Transportation and Aviation.
"I am delighted because we are involved in developing a pipeline of
African talents whose contribution is critical to developing the
continent," Mr Ireland said.
Conclusions
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Somalis Fear South African Violence More Than War at Home Africa |
Ali Omar Mohamed fled Somalia's civil war two years ago to seek a
better life in South Africa. Now after being robbed at gunpoint and
seeing scores of his countrymen murdered in xenophobic violence, he's
ready to leave.
Mohammed, a 21-year-old shopkeeper, is part of a growing tide of
immigrants who say they prefer returning to a war zone rather than
face the hatred and jealousy they are subject to in South Africa where
they're called "the enemy."
"It's better to die in your country where your mother and father can
see you and not worry so much," said Mohamed, who sleeps in a small
room attached to the shop in the northern Johannesburg shantytown of
Diepsloot. "As soon as possible, I'll go back."
About 2,000 Somalis, or almost 8 percent of those living in South
Africa, have returned home this year as parts of the Horn of Africa
country become more stable after African Union troops drove Islamist
militants out of the biggest towns, the mission head of Somalia's
embassy in the capital, Pretoria, Mohamed Ali Mire, said in an Oct. 9
interview.
That sentiment was echoed by South Africa's Deputy Trade and Industry
Minister Elizabeth Thabethe on Oct. 10.
"You still find many spaza shops with African names, but when you go
in to buy you find your Mohammeds and most of them are not even
registered," she was quoted as saying by theSouth African Press
Association.
While South Africa's murder rate has dropped by more than half to 31.1
per 100,000 people since 1995, it remains six times higher than that
of the U.S.
For many Somalis, returning home is now a safer choice than remaining
in South Africa.
"They are tired of the on-going xenophobic attacks, and the constant
hurting and maiming of Somalis," Sheikh said. "It's better to go home
and die in dignity than to die far away from home."
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N.S.E Today |
The Opening was delayed until 10:51 this morning and Trading never
really got going with Equity Turnover of 343.353m.
The Official Closing Data has not been released as I file this.
The All Share was +38.4355% in 2013 [and 1.7065% below Its October 8th
All Time High] as of this morning.
i am expecting a SSA-wide Bull Swing through Year End of about +10%.
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N.S.E Equities - Commercial & Services |
Safaricom eased 1.648% to close at 8.95 and traded 3.797m shares worth
34.042m. This is the first time that Safaricom has closed below 9.00
since the 7th of October. Safaricom is +77.22% in 2013 and has
corrected 4.78% since setting an All Time High of 9.40 on the 8th of
October. Safaricom will release H1 Earnings in the first week of
November and I expect those results to outperform Consensus
Expectations and for a Rally to 10.00 coincident with that Earnings
Release.
Safaricom share price data here +77.22% 2013
http://www.rich.co.ke/rcdata/company.php?i=NTU%3D
Standard Group rallied +8.77% to close at 31.00 where 3,200 shares
were traded. Standard Group trades on a Trailing PE of 12.109 and
accelerated H1 2013 Profit Before Tax +109.00%.
Nation Media closed unchanged at 320.00 and traded 16,000 shares.
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N.S.E Equities - Finance & Investment |
I&M reported 11 month Earnings through the 30th of June 2013 pre
market Opening, where 11 Month Profit Before Tax increased 1,428% to
742.116m versus 51.957m for the Previous Full Year. 11 Month Earnings
Per Share +11.834% to 1.89 shillings a share versus 1.69 for the
Previous 12 months. Extrapolating the FY EPS from 1.89 for 11 months
gives us 2.06 for 12 months and that places the implied Price Earnings
Ratio at 55.02 which is taking a great deal of Growth on Trust. I&M
firmed +1.96% to close at 104.00 and traded 11,600. There was Buy Side
Demand for 2,610% more shares than were traded during the session, at
the closing Bell.
I&M reports 11 month Earnings through 30th June 2013 here
http://www.rich.co.ke/media/docs/I_M%20Holdings%20Ltd%20-%20unaudited%20interim%20financial%20results.pdf
Kenya Commercial Bank was the 2nd most actively traded share and
firmed +1.02% to close at 49.50. Kenya Commercial Bank traded a
49.25-50.00 range and 1.141m shares worth 56.722m. Kenya Commercial
Bank is +66.386% in 2013 and within 0.5025% of a Record Closing High
of 49.75 reached on the 8th of this month. Kenya Commercial Bank
trades on a Trailing PE of 12.043 and accelerated H1 2013 PAT [Profit
after Tax] +18.176%. A Stand-Out in that First Half Earnings Release
was +72% Acceleration in the Businesses outside Kenya.
Kenya Commercial Bank share price data here +66.386% 2013
http://www.rich.co.ke/rcdata/company.php?i=MjE%3D
Barclays Bank firmed 0.27% to close at 18.50 and traded 1.112m shares
worth 20.583m. There was a 2 versus 1 Buy versus Sell Side Imbalance
at the Finish.
Equity Bank eased 0.7% to close at 35.50 and was trading at session
Lows of 35.00 -2.1% at the Closing Bell. Equity Bank traded 483,800
shares.
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N.S.E Equities - Industrial & Allied |
EABL firmed +0.635% to close at 317.00 and was trading at 319.00
+1.27% at the Finale. EABL was the most actively traded share at the
Securities Exchange and traded 248,700 shares worth 79.038m. EABL is
+19.622% in 2013.
KenolKobil firmed +1.648% to close at 9.25 and traded solid Volume of
3.141m shares worth 29.158m. KenolKobil has rallied +15.625% this
month and on strong Volume Action. KenolKobil eked out an H1 Profit
Before Tax [versus a Loss of 5.683b in the Previous reporting Period]
and Investors drew a Line in the Sand at the Price Level of 8.00.
KenolKobil share price data here +15.625% in October [Include 5m Volume Graph]
http://www.rich.co.ke/rcdata/company.php?i=MzU%3D
Total Kenya eased 0.9% to close at 27.50 but closed the Session
trading session Highs of 28.50 +2.7%. Total Kenya traded 27,500
shares. Total Kenya is +47.45% this month and Investors have
fundamentally and predictably rerated the Counter. Total Kenya
reported a First Half Profit After Tax in 2013 of 461.303m versus a
Loss of 259.727m previously and it is that Earnings Release which
ignited the Price.
Total Kenya share price data here +47.45% in October
http://www.rich.co.ke/rcdata/company.php?i=NDE%3D
Kenya Power KPLC eased 0.35% to close at 14.20 and traded 1.846m
shares worth 26.222m. KPLC released FY Earnings where FY PAT declined
-5.73% and the Dividend was skipped. KPLC trades on a PE of 6.377 and
Investors are supporting the Price here. The Proposed Corporate Bond
looks the best Way for kick starting the quite intensive CAPEX
Program.
KenGen closed unchanged at 17.00 and traded 454,100 shares. KenGen is
+92.09% in 2013 and trades on a Trailing PE of 13.178.
Sameer Africa rallied +5.76% to close at 5.50 and was trading at 5.70
+9.62% and its Daily Maximum at the Finish Line. Sameer traded 14,700
shares.
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