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Thursday 24th 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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#Mindspeak 2013 RICH TV Africa |
features @dreynders @IMFNews @johngithongo @MaggieIreri
@patriciaithau1 @HabilOlaka
I thank Guido Haller and Ngorekambi for the Invitation to speak to the
Stanbic Global Markets Team and it is always wonderful to catch up
with Old Friends from Mombasa like Guido
I thank the FiReAwards2013 for the Invitation to speak about Investor
Relations and Investor Confidence
Macro Thoughts
Home Thoughts
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POOLED RESOURCES | Architect Stuart Church preserved the riad's symmetrical layout, adding an emerald green tiled pool and a traditionally tiled courtyard. The candelabra, copper tables and green vases are from local dealer Mustapha Blaoui. Africa |
Photography by Matthieu Salvaing
Astronomers catch sight of z8-GND-5296 – and it’s so far away we
can see it as it was 13 billion years ago
http://esciencenews.com/files/images/201310238539841.jpg
Astronomers have detected the furthest known galaxy in the Universe
which is more than 13 billion light years away on the very edge of
space.
Because of the time it takes for its light to reach Earth, the galaxy
is seen today as it was just 700 million years after the Big Bang -
the primordial event that created the Universe some 13.8 billion years
ago.
Scientists detected the galaxy - known as z8-GND-5296 - with the help
of the Hubble Space Telescope parked in geostationary orbit and the
Keck Telescope on the summit of Mauna Kea in Hawaii.
They searched a library of about 100,000 of the most distant galaxies
before finding that one of them could be accurately positioned in
space by analysing the infrared light it had emitted.
A spectroscopic analysis of the galaxy's wavelength showed how much it
has shifted to the red end of the spectrum. This "redshift", and the
known expansion velocity of the Universe, was used to measure the
galaxy's precise distance from Earth.
"What makes this galaxy unique, compare to other such discoveries, is
the spectroscopic confirmation of its distance," said Bahran Mobasher
of the University of California, Riverside and a member of the
research team.
"By observing a galaxy that far back in time, we can study the
earliest formation of galaxies. By comparing properties of galaxies at
different distances, we can explore the evolution of galaxies
throughout the age of the Universe," Dr Mobasher said.
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Hannah Horseriding at @FairmontMtKenya Africa |
"Extinguish my eyes, I'll go on seeing you.
Seal my ears, I'll go on hearing you.
And without feet I can make my way to you,
without a mouth I can swear your name.
Break off my arms, I'll take hold of you
with my heart as with a hand.
Stop my heart, and my brain will start to beat.
And if you consume my brain with fire,
I'll feel you burn in every drop of my blood."
Rilke.
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Are We Puppets in a Wired World? New York Review of Books Law & Politics |
As John Naughton points out in his sleek history From Gutenberg to
Zuckerberg: What You Really Need to Know About the Internet:
Everything you do in cyberspace leaves a trail, including the
“clickstream” that represents the list of websites you have visited,
and anyone who has access to that trail will get to know an awful lot
about you. They’ll have a pretty good idea, for example, of who your
friends are, what your interests are (including your political views
if you express them through online activity), what you like doing
online, what you download, read, buy and sell.
But while we were having fun, we happily and willingly helped to
create the greatest surveillance system ever imagined, a web whose
strings give governments and businesses countless threads to pull,
which makes us…puppets. The free flow of information over the Internet
(except in places where that flow is blocked), which serves us well,
may serve others better.
''The role of great external powers is becoming variable, complex,
dynamic, and asymmetric, rather than comprehensive, exclusive, static
or uniform."
http://www.atimes.com/atimes/Middle_East/MID-01-231013.html
“We don’t know what the Americans are trying to do with Syria,” said
Khalid al-Dakhil, a political science professor at King Saud
University Riyadh.
http://www.bloomberg.com/news/2013-10-22/saudi-arabia-said-to-disregard-u-s-on-aid-to-syria-islamists.html
“They seem to be using Syria as a bargaining chip with Iran. They
handed Iraq to the Iranians, and the Saudis won’t let them do the same
thing to Syria.”
Conclusions
Lots of huffing and puffing but the Saudi US is two legs [out of 3] of
the Pax Americana in the Middle East.
King Abdulaziz ibn Saud, and President Franklin D. Roosevelt 1945
http://www.world-war-2-diaries.com/image-files/roosevelt-color-saudis.jpg
Africa's New Map By Robert D. Kaplan and Mark Schroeder Forbes
http://www.forbes.com/sites/stratfor/2013/10/23/africas-new-map/
There is a new scramble for Africa. Roads, railways and pipelines are
being built or envisioned into the interior of central Africa from
multiple directions. Africa’s geographic tragedy through the ages has
been its isolation, which has been among the main causes of its
poverty. Despite possessing a long coastline, Africa has relatively
few natural deep-water harbors. Its great rivers are generally not
navigable from the interior to the various seaboards. The Sahara
Desert has acted as a barrier to human contact with the great Eurasian
civilizations. Of course, electronic communications in recent decades
have worked to dilute such isolation. But these new pathways may
promise a further, pivotal leap in terms of connecting Africa to the
outer world.
Looking at a map of Africa with these new and projected pathways
highlighted, one sees two major networks into the interior — from
southern Africa and from East Africa — and two minor ones from West
Africa and from the Horn of Africa.
The envisioned transport and pipeline network along the Indian Ocean
in East Africa goes from both the Kenyan and Tanzanian coasts westward
to Burundi, Rwanda and Uganda, and a spur line could run north from
the Ugandan capital of Kampala to the South Sudanese capital of Juba.
Ethiopia is reinforcing its rail connectivity to the Indian Ocean at
Djibouti, and may eventually extend other links to South Sudan and
Kenya. In the East African cases, unlike with the Angolans and South
Africans, the financing, the impetus and the know-how must come from
the Chinese and, to a lesser extent, the Japanese. These Asian
countries have a hunger for African copper and cobalt, rare earths and
other minerals from the eastern Democratic Republic of the Congo and
hydrocarbons from South Sudan.
These are not entirely new networks, given that the Chinese in the
1970s built a railway into the Copperbelt of Zambia and the southern
edge of the Congo (and the Germans, British and Portuguese during
colonialism built limited rail networks in their respective colonies
of Tanganyika, Kenya and Angola). Now the Chinese want to build a
deep-water port in Bagamoyo and the Japanese want to do likewise in
Dar es Salaam: Both ports are in Tanzania, with new pathways westward
into the interior of Central Africa in each case. The Kenyans have
been trying to interest the Chinese in building a port and transport
links from Lamu on the Kenyan coast northwestward all the way into the
oil fields of South Sudan, but so far at least the Chinese have held
back from making a serious commitment. Beijing is sensitive to the
consequences of empowering South Sudan with a pipeline independent of
Sudan, and prefers instead to ensure that Juba and Khartoum remain
co-dependent and thus peaceful in their economic conduct, avoiding any
additional costs for crude extraction.
If you look at all of these newly planned routes into the interior
from southern Africa and from East Africa, one geographical phenomenon
stands out: Every route ends at or near the edge of the Democratic
Republic of the Congo, but without really penetrating it. The Congo,
even if all of this infrastructure is built, will remain a vast,
impassable blank spot on the map despite its abundance of copper,
cobalt, rare earths, diamonds and oil, to say nothing of its
agricultural potential (which is already its largest economic sector
by gross domestic product).
With the gaping heart of the African interior as represented by the
Congo still destined to remain remote, and pathways reaching around
its edges from multiple points along the Indian Ocean and from the
adjacent southeastern Atlantic Ocean, we start to see the emergence of
the African piece of the Greater Indian Ocean trade and conflict
system — a system that stretches from Angola far in the west on the
Atlantic to the Philippines far to the east in the South China Sea. In
other words, the vast southern rimland of Afro-Eurasia is forming into
one organic region, with even sub-Saharan Africa now a part.
Finally, there are the new routes envisioned in the Horn of Africa and
West Africa. The Ethiopians want to upgrade their road and rail links
from their capital of Addis Ababa to Djibouti near the Strait of Bab
el Mandeb, again, on the Indian Ocean. The Ethiopians, having lost
their outlet to the sea because of the separation of Eritrea, require
a fully reliable export route for their light manufactured and
agricultural goods and modest mining wealth. Of more remote interest
to the Ethiopians is trade with the interior of central Africa.
Transportation linkages Addis Ababa may foster there will find it in
competition for scarce financing that the Kenyans and Tanzanians are
struggling to mobilize.
As for West Africa, the only exciting advance appears to be a plan to
upgrade land links from Abidjan on the coast of Ivory Coast northeast
through Burkina Faso into Niger, where there is oil, natural gas and
uranium. What infrastructure projects others have constructed in West
Africa, such as in Liberia and Sierra Leone, have been extremely
limited in scope and utility — to extract resources from a specific
mineral concession. Nearby Nigeria, the largest country in West Africa
and the most populous country in the whole of Africa, is a landscape
of low-level chaos. While Abuja aims to improve infrastructure like
roads, rail and power plants, these are often carried out at state or
local levels, without national initiative. And none of the
infrastructure really links much beyond its borders. West Africa, like
the Congo, suffers from an unhealthy climate compared to that of
southern and East Africa, and this has helped account for the
comparatively lower levels of development.
Thus, all these pathways point to an Africa where there may be
exciting economic progress in the south and east — in both cases
oriented toward the Indian Ocean — while, for the most part, the rest
of the continent languishes in poverty, continued low-intensity
conflict and occasional bouts of anarchy.
Conclusions
Dear Robert,
I first must commend you on your Book Monsoon and Like yourself I
believe the Indian Ocean is all set to regain its former Glory. In
particular, I sense the Eastern Seaboard of Africa [from Mozambique
through Somalia and points in between] is set to become a c21st Energy
El Dorado.
Therefore, President @BarackObama 's Pivot to Asia surely detours
through Africa. The Importance of African Oil to China is expanding as
the importance of African Oil to the US decreases. Therefore, The
Pivot to Asia is entirely dependent on US Power Projection over the
Indian Ocean and the maintenance of a Gatekeeper Status over these
Energy Assets.
With respect to the Infrastructure Build Out to which you refer it
would be churlish not to recognise how China was a Catalyst for
floating the SSA Infrastructure Boat. Infrastructure is a No brainer
and even the wildest Plans do not properly factor in the growth.
Faithfully
Aly-Khan Satchu
http://www.rich.co.ke
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Mozambique Violence Signals Short-Term Threat to Energy Boom Bloomberg Africa |
Mozambican army clashes with former rebels may disrupt coal shipments
and public transportation without heralding a return to civil war,
said analysts such as Alex Vine, head of the African program at
Chatham House.
“The markets are concerned -- adds additional risk for lenders and
could make it more difficult for Mozambique to raise funds for
infrastructure if this drags on,” London-based Vines said yesterday in
an e-mailed response to questions. “The coal mining companies have
also seen their costs rise.”
Renamo fought a 17-year civil war against the ruling Front for the
Liberation of Mozambique, or Frelimo, until signing a peace agreement
in Rome in 1992. It has served as the main opposition party for two
decades without threatening Frelimo’s hold on the presidency and
parliament. Renamo leader Afonso Dhlakama’s electoral support dropped
to 16.4 percent in 2009 from 47.7 percent a decade before.
“The leadership of Renamo is making a last-minute desperate attempt to
get concessions from the Frelimo government,” Robert Besseling, senior
Africa Analyst at IHS Country Risk, said in phone interview from
Johannesburg. “They know that this is the end for them.”
Fueled by transportation, communications, the world’s largest
discovery of natural gas in the past decade and coal mining operations
run by Rio Tinto and Vale SA (VALE5), Mozambique’s $15 billion economy
is expected to expand 7.4 percent this year, according to government
forecasts.
The former Portuguese colony plans to open a liquefied natural gas
terminal in 2018 that will be the second-largest export site in the
world after Ras Laffan in Qatar. Anadarko Petroleum Corp. (APC) and
Eni SpA (ENI) are among companies investing in gas production in the
country.
“The primary risk to gas development will be elevated risk
perceptions,” Mark Rosenberg, an Africa analyst for New York-based
Eurasia Group, said in an e-mailed response to questions. “Given the
geography of the nascent gas infrastructure and that Renamo cannot
sustain a wide-ranging or prolonged insurgency, physical risks from
recent events are quite low.”
Pursued by the army, Dhlakama is now holed up in the central province
of Sofala, close to his bush strongholds during the civil war. Support
from the former white-minority governments in Rhodesia, now Zimbabwe,
and South Africa that backed Renamo during the conflict has ended.
“It’s only in a very small area of Mozambique where Renamo still has a
presence and a fighting capability,” Besseling said. “It does not have
the capability to stage large-scale attacks on the military.”
Dhlakama is ready for talks with Frelimo and believes the government
must “show signs of detente” so that he can appear in public, Lourenco
do Rosario, rector of the Politechnic University of Mozambique, said
yesterday in an interview after meeting with a Renamo delegation in
the capital, Maputo.
Conclusions
Renamo does not represent a head on challenge but a potent asymmetric
challenge.
Samora Machel Praca de Independencia #Maputo
http://www.twitpic.com/9scika
Renamo leader Afonso Dhlakama
http://www.bloomberg.com/news/2013-10-23/mozambique-violence-signals-short-term-threat-to-energy-boom.html
Protesters In Sudan Seek Justice Via Twitter #Strike4Sudan
http://www.buzzfeed.com/miriamberger/protesters-in-sudan-seek-justice-via-twitter?bftw=
This week about 50 activists started a five-day campaign called
#Strike4Sudan (and its Arabic equivalent #ﺇﺿﺮﺍﺏ_ﻟﻠﺴﻮﺩﺍﻥ) to demand
freedom of expression and justice for the dozens of Sudanese killed
during last month’s anti-government protests.
Conclusions
Things are fluid in Khartoum and My Theory remains that Sudan is the
Epicentre of the US and China Collision in Africa.
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Aly-Khan Satchu sees a larger proxy war in the current standoff between Sudan and South Sudan over dividing revenues from South Sudan's oil. January 30, 2012 CS Monitor Africa |
Now, there is a back story to this. You see, through 2011, Sudan
provided China with 5 percent of its total oil imports. You will
recall that 35,000 Chinese workers were evacuated out of Libya in nine
days last year and China was rolled back and right out of Libya. Not
so long ago, President Obama authorized the deployment to Uganda of
approximately 100 combat-equipped US forces to help regional forces
ostensibly to “remove from the battlefield” – meaning capture or kill
– Lord’s Resistance Army leader Joseph Kony.
Then in January this year, President Barack Obama issued this memorandum.
"By the authority vested in me as President by the Constitution and
the laws of the United States, including section 503(a) of the Foreign
Assistance Act of 1961, as amended, and section 3(a)(1) of the Arms
Export Control Act, as amended, I hereby find that the furnishing of
defense articles and defense services to the Republic of South Sudan
will strengthen the security of the United States and promote world
peace," said the official text of Obama's decision.
It seems to me Sudan has become the epicenter of the US and China's
collision in Africa and that we are watching a 21st-century,
high-stakes proxy war. I have to surmise that the US is underwriting
Salva's overdraft, what with all these demobilized soldiers roaming
around Juba, it would be suicide to have them unpaid for any length of
time. I wonder who is underwriting Bashir?
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Africa economic data: investors fear numbers fail to add up FT Subscriber Africa |
Ghana one day went to bed as a poor African country, only to wake up
the following morning as a shiny new middle-income nation.
A trick by the government? No, the country recalculated the size of
its economy in 2010 for the first time in more than a decade, taking
into account new growth industries such as telecommunications, and in
the process boosted its gross domestic product by 62 per cent
overnight.
Nigeria is about to do the same, in a rebasing that could boost its
GDP about 40 per cent, challenging South Africa for the crown as
Africa’s largest economy.
Until recently, the experience of Ghana, and soon Nigeria, would have
attracted the interest of just a few in the ivory towers of academia.
But with Africa firmly on the radar of international investors, not
least as growth among bigger emerging economies stutters, the quality
of the continent’s economic statistics increasingly matters to people,
from US pension funds to Japanese commodities executives.
“This is not a Mexico or a Brazil where every day you have data
releases and you can track the developments in those countries very
intensively,” said Francesc Balcells, head of emerging markets at
Pimco, the world’s biggest fixed income investor. “Data [in Africa]
comes out with huge lags.”
The African Development Bank (AfDB) has acknowledged that the large
revisions had “understandably alarmed many observers”. But it said
earlier this year there was not a “general, widespread problem”.
Others are more worried, however. The International Monetary Fund this
month organised a seminar to debate the problem, warning that “the
quality of basic economic statistics in sub-Saharan Africa . . . is
often so poor that it can lead to serious misdiagnosis”.
The revisions can be huge. When Guinea-Bissau and The Gambia, two tiny
west African nations, recalculated the size of their economies a few
years ago, they discovered they were more than double what they had
previously assumed.
Investors have for years battled with similar problems in other
regions that experienced rapid economic growth and fast integrated in
the global financial market, including southeast Asia in the late
1980s and early 1990s. But Morten Jerven, an associated professor of
the Simon Fraser University in Vancouver and author of the ‘Poor
Numbers’ book, said that the statistical problems are “more severe” in
sub-Saharan Africa than in other regions like Latin America.
The AfDB said it had spent about $100m over the last decade building
up the data capacity across Africa. Still, Pierre Ndiaye, director of
forecasting at the Ministry of Finance in Senegal says African
countries struggle to retain qualified statisticians. “We need to have
more competitive wages to avoid staff turnover,” he says.
The new African data, as in the case of Ghana, can only be good for
investors needing as accurate picture of an economy as possible. And
analysts believe it could encourage new money. But they also provide a
sharp reality check. Although the size of the economy balloons, annual
growth tends to slow.
When Nigeria publishes its new estimates in early next year, the size
of its economy could increase by as much as 40 per cent as it includes
booming sectors such as telecoms and the “Nollywood” film industry.
Overnight, it would be a much richer country; the ratio of debt to GDP
will drop, as will the fiscal deficit. But other key economic ratios,
including tax collection as a share of the economy, would also fall, a
worry for investors.
Africa’s “increased integration in the global economy” compounds the
problem as more and more investors need quality data, the IMF said.
Africa attracted $50bn in foreign direct investment last year, more
than double the level of a decade ago, from companies such as IBM,
GlencoreXstrata, CocaCola and Nissan. African countries have also
issued a record $8bn of US dollar-denominated sovereign debt so far
this year, up from about $1bn a decade ago. And foreign investors are
pouring billions of dollars in local stock markets from Nairobi to
Lagos. Nigerian stocks have gained 37 per cent over the past year.
While some African countries have been at the forefront of improving
their national statistics to meet international standards, including
rebasing their economies every five years, most of the continent’s
nations have a very long way to go.
According to the AfDB, only nine African countries are using a base
year that meets international standards. Another group of 19 countries
base their GDP figures in a baseline that is at least a decade old,
and eight countries, including heavyweights Nigeria, and Sudan, use
base years that are more than 20 years old. Worse, commodities-rich
Democratic Republic of Congo and Equatorial Guinea use base years from
the 1980s.
Even if the statistics are imperfect, most investors believe that
Africa’s recent period of strong economic growth – dubbed by many
observers as “Africa Rising” – is real. Yet, until data improve, some
naysayers will have reasons for distrust.
African oil towns: getting very pricey FT [Subscriber]
http://blogs.ft.com/beyond-brics/2013/10/21/african-oil-towns-getting-very-pricey/#axzz2iSkbriFx
If you thought that London / HK / Mumbai / [enter your city here] was
a bit on the expensive side, spare a thought for those in Luanda and
Juba.
The capitals of Angola and South Sudan are the 1st and 3rd most pricey
oil and gas towns in the world for expats, according to hydrocarbons
news provider Rigzone. Sifting through the latest cost of living data
produced by ECA and Mercer International, Rigzone reckons both
capitals now beat Perth and Moscow, and are separated only by Norway’s
Stavanger, when it comes to their power to lighten your wallet.
Prices in Luanda, Angola’s capital, are the stuff of legend. At its
peak two years ago, there were rumours that watermelons reached $100.
That sounds a bit farfetched – it’s hard to imagine a watermelon
tasting that good, even on a hot day in southern Africa – but you can
certainly still expect to pay $200 for a pair of jeans, $50 for a
hotel hamburger, and prices in supermarkets are ‘absurd’, says one
local lawyer.
Accommodation is the biggest hit. Rental of a small apartment could
set you back over $6,800 a month. Visitors marvel at the contrasts;
yachts in the Luandan harbour and tinted-windowed SUVs working their
way through rubbish and dust, with locals living in destitution. The
country has one of the highest Gini coefficient rankings in the world
and the government has done little for the people yet, although it did
announce a $70bn budget earlier this year.
Scant local production means nearly everything is imported. Until
recently, Angola didn’t even produce its own bottled water. And the
dominant expat demographic – wealthy oil men – shapes prices. Many
accept whatever prices are on offer and can afford to pay.
Costs are starting to moderate a little for the foods desired by
foreigners, thanks to increasing retail distribution networks and the
arrivals of chains Shoprite and Kero, with Continente and Woolworths
on their way. The influx of Portuguese migrants is helping too, says
Jorge Jover at MITC Investimentos, a local business group. “Portuguese
people open a small tasca as soon as they land and then you have now a
better offer of simply, tasty and well-priced meals”.
What of South Sudan’s Juba? As with Luanda, oil workers are crowding
in, chasing the 3.5bn barrels of reserves. They hail from the US oil
services companies including Schlumberger and Halliburton, as well as
from China, India and Malaysia.
But unlike Angola, there is a second demographic pushing prices up:
aid workers. Hundreds of UN staff and donor groups have set up shop,
putting strain on the housing stock. Basic apartments can cost up to
$3,000 dollars a month, and industrial air conditioning can reach
$15,000 a year or higher. Lack of water and electricity supplies mean
expat offices and residences come equipped with private water tankers
and generators.
Rigzone’s analysis fits a wider trend, with a summer survey finding
that four of the world’s top 20 most costly places to live for expats
are now in Africa – Luanda (2nd globally), Juba (4th), Congo
Brazzaville (18th) and Kinshasa in the DRC (19th). This is bad news
for the governments of all four countries, already among the most
lopsided, worst governed in Africa. Even wealthier locals are being
shoved out of cities and real estate prices boom, and there have been
land seizures in the likes of Angola in the past which are unlikely to
promote much in the way of social peace.
South Africa All Share Bloomberg +19.70% 2013
http://www.bloomberg.com/quote/JALSH:IND
Dollar versus Rand 6 Month Chart INO 9.7791 [Key Resistance is 9.55/9.60]
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 6.8886
http://quotes.ino.com/charting/index.html?s=FOREX_USDEGP&v=d3&t=c&a=50&w=1
Egypt EGX30 Bloomberg +15.5% 2013 [January 26th 2011 Highs]
http://www.bloomberg.com/quote/CASE:IND
Nigeria All Share Bloomberg +37.22% 2013
http://www.bloomberg.com/quote/NGSEINDX:IND
Ghana Stock Exchange Composite Index Bloomberg +75.78% 2013
http://www.bloomberg.com/quote/GGSECI:IND
Heineken N.V. reports 2013 third quarter results
http://www.theheinekencompany.com/media/media-releases/press-releases/2013/10/1737478
Africa Middle East
Consolidated revenue declined by 3% organically in the quarter, with
solid revenue per hectolitre growth of 4% offset by lower total
volume. Total group volume declined by 6% reflecting a 2% decrease in
beer volume and double-digit decline in non-beer volume. The decline
in non-beer volume follows the planned discontinuation of certain
SKU's in the soft drink and water categories in Egypt and Tunisia,
respectively, to deliver value growth. A resurgence of social unrest
in Egypt and ongoing volatility in the Democratic Republic of Congo
particularly impacted beer volumes in the quarter. Volume in Nigeria
was slightly lower as inflationary pressures, tight credit conditions
and high unemployment continue to impact consumer spending. Despite
challenging economic conditions in South Africa, volume in the quarter
grew in the low single-digits led by a solid performance of the Amstel
brand, in combination with a strong Heineken® brand performance in the
first nine months of the year.
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#Westgate was a Game Changer because it propelled President @UKenyatta to the very Front-Line of the Global War on Terror. Counter-Terrorism has undercut the ICC. Aly-Khan Satchu Nairobi Economist Kenyan Economy |
Westgate validates US strategy on Shabaab says Africom head
http://www.nation.co.ke/news/-/1056/2045100/-/139v0ei/-/index.html
Successes achieved by US-supported African forces fighting al-Shabaab
in Somalia led to the deadly attack on Nairobi's Westgate Mall, the
head of the US Africa Command (Africom) said on Wednesday.
"This really validates our strategy," declared Africom Commander Gen
David Rodriguez.
The same affirmative interpretation was offered by Assistant Secretary
of State for Africa Linda Thomas-Greenfield who joined Gen Rodriguez
in a State Department teleconference with reporters.
The Westgate massacre showed Shabaab is resorting to hitting "soft
targets because other targets are being made harder for them to go
after," the top US diplomat for Africa said.
"It highlighted to us we were pursuing the right strategy," Assistant
Secretary Thomas-Greenfield said in regard to Shabaab's targeting of a
shopping mall.
"We need to bolster that strategy," she added.
#WestGate 30 Days Ago
http://www.twitpic.com/deneco
Reflections on #Westgate, Al-Shabaab 2.0 #Samanthalewthwaite The White Widow
http://www.rich.co.ke/rctools/wrapup.php?dt=MjAxMy0wOS0zMA%3D%3D#B32258
David Guetta - Titanium ft. Sia
http://www.youtube.com/watch?v=JRfuAukYTKg
I think She was in there, she live tweeted from inside and then she
escaped through a Tunnel.
My Friend Aidan Hartley tweeted ''what use would Samantha Lewthwaite
be when shooting starts? She's a bogey woman in a burkha, a media
construct'' and ''Yes immoral! like plucked eyebrows & lipstick sulky
selfies in hijab.''
And I thought to myself, thats a whole new Audience. In fact, that is
the Audience. It's not in Mogadishu, its in Minneapolis, London, its
the Diaspora.
Kenya Shilling versus The Dollar Live ForexPros 84.677 [targets 84.00
especially if Crude Oil slides further]
http://j.mp/5jDOot
Nairobi All Share Bloomberg +38.68% 2013
http://www.BLOOMBERG.COM/quote/NSEASI:IND
The All Share is +38.68% in 2013 and just 1.52% below its 2013 and All
Time Closing High reached on the 8th of October this Year
Nairobi ^NSE20 Bloomberg +19.84% 2013
http://j.mp/ajuMHJ
Every Listed Share can be interrogated here
http://www.rich.co.ke/rcdata/nsestocks.php
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