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Satchu's Rich Wrap-Up
Monday 10th of March 2014

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If you are tracking the NSE Do it via RICHLIVE and use Mozilla Firefox
as your Browser.
0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.

The Latest Daily PodCast can be found here on the Front Page of the site

I apologise for the Foreshortened Email but i have to go and have my
eyes checked out.

The Optician said to me,''You should go and have the eye Surgery.''

i said; ''I will when I can find a single Optician who has had it!''

read more

17-FEB-2014 :: STAYING AHEAD OF THE CURVE A Presentation I made to @Oracle

I am looking forward to being in London this weekend for The
Homecoming Revolution Event

read more

Join us on Sat 15th or Sun 16th March 2014 at Olympia @Angel1Jones

It was Angel Jones @angel1jones, the Founder of @HomecomingRev who
came and found me in my Office one afternoon.

Her Tagline on Twitter ''Ex-advertising chick. A Yippie (Yuppie + Hippie)''

read more

Many top African companies flying into London this weekend @Homecomingrevolution



Weekend 15th & 16th March 2014, Olympia Conference Centre

Careers | Property | Advice | Business

Real Opportunities Back Home for African Diaspora Professionals


Homecoming Revolution Africa will be hosting over 26 top companies at
their London Expo this weekend in an attempt to woo top diaspora
professionals home.  These include Barclays Africa, Standard Bank
Group, KPMG Africa, Diageo, Ecobank, Africa Health Placements, Chicken
Republic, Globacom, Group Five and Deloitte.

Comments Angel Jones, CEO and Founder of Homecoming Revolution, "We're
seeing a demand for African professionals across all sectors:
Financial Services, Management & Strategic Consulting, FMCG, ITC,
Engineering & Construction, Healthcare, Education and Sales &

"What makes the Homecoming Revolution platform unique," continues
Jones, "is that employers are engaging candidates in an inspirational
environment that includes motivating case studies, top speakers,
workshops, relocation services, immigration advice, property and
schools too."

Homecoming Revolution has partnered with many professional diaspora
networks to tap into the top African talent that's interested in
returning.  And there's a significant pool of professionals who are
very interested in engaging. Comments Clarissa Azkoul from the
International Organisation for Migration, "I've noticed a change in
the attitude of African diaspora in the UK, they are all aware of
what's going on back home and they want to be a part of it."  In fact,
the brain drain in South Africa has reversed, with 359 000
professionals returning in the past 5 years.  This is the vision for
other African countries.

The speaker list line-up includes high profile Africans who have
returned home themselves.  These include Dr Mabouba Diagne from
Barclays, Aly-Khan Satchu of Rich Management, Akinwale Ojomo from
Diaspora Innovation Institute, Isaac Fokuo of the African Leadership
Network, Yusuf Abramjee co-founder of LeadSA, Professor Nick Binedell
from GIBS, Betty Enyonam Kumahor from ThoughtWorks, Samuel Mensah from
KISUA and Mizinga Melu, voted African Businesswoman of the Year.

However, Jones claims that the decision to return home is an emotional
once. "We've found that successful returnees move home firstly to be
closer to friends and family, second for a sense of belonging &
purpose and only third for career. So if you find yourself haggling
over your pay package as the deciding factor on if you'll move home or
not - then you simply aren't ready to return and you should stay where
you are".

read more

Thomas Pynchon Inherent Vice

"Real estate, water rights, oil, cheap labor - all of that's ours,
it's always been ours. And you, at the end of the day what are you?
one more unit in this swarm of transients who come and go without
pause here in the sunny Southland, eager to be bought off with a car
of a certain make, model, and year, a blonde in a bikini, thirty
seconds on some excuse for a wave - a chili dog, for Christ's sake."
He shrugged. "We will never run out of you people. The supply is
inexhaustible." (347)

read more

Tens of thousands of people thronged Red Square chanting "Crimea is Russia!"
Law & Politics

Ukraine can be classified as a 'geopolitical pivot.'


That is a state "whose importance is derived not from their power and
motivation but rather from their sensitive location and from the
consequences of their potentially vulnerable condition for the
behavior of geopolitical players." For Brzezinski, a Ukraine severed
from Russia consequently severs Russia from Europe, albeit in his
terms in its "imperial status" as a Eurasian power. Severed from
Ukraine, Russia would be reoriented towards Asia, which sets it on a
collision course with an emerging China (an ideal scenario for

At the heart of the crisis lie a Western ambition for the expansion of
their strategic 'bridgehead' into the Eurasian supercontinent -- this
time in the very "soft underbelly" of Russia.


This attitude for Washington's recent wave of regime change was
recently summed up by Ben Rhodes, Deputy National Security Advisor for
the Obama regime, who according to The New York Times plays a role
more prominent than his official title:

These democratic movements will be more sustainable if they are seen
as not an extension of America or any other country, but coming from
within these societies," said Benjamin J. Rhodes, a deputy national
security adviser. "For the longer term, it is better to let the people
within the country be the strongest voice while also ensuring that at
the appropriate times you are weighing in publicly and privately.

President of Russia, Vladimir Putin Photo: Getty [has been winning
for a while now]


His dreams of staying in office until 2024, of being the most
formidable state-builder in Russian history since Peter the Great, may
yet founder on the peninsula of Crimea. [I do not think so David]


Power Delusions: U.S., Russia Face Off  Over Ukraine


"They see it as an erosion of their buffer zone, a further Western
incursion into their natural sphere of influence. It would be like
Russia going to Mexico and saying to the Mexican president, we stand
with you against the U.S. That's the way they see it. They don't see
what possible interest we could have in Ukraine."

(Clockwise from top left) Photographs by Fernando Llano/AP Images; AP
Images; Yves Herman/Reuters; Thomas Trutschel/Photothek/Getty Images;
Achmad Ibrahim/AP Images; Siphiwe Sibeko/Reuters; Allauddin Khan/AP
Images; Sana/AP Images; Kyodo News/AP Images

Obama's Not Carter -- He's Eisenhower Foreign Policy


On Nov. 4, 1956, Soviet tanks rolled into Budapest after Hungarian
authorities announced that they would withdraw from the Warsaw Pact. A
last, desperate teletype message from Hungarian insurgents read, "They
just brought us a rumor that the American troops will be here within
one or two hours.... We are well and fighting." Troops were not on the
way. U.S. President Dwight Eisenhower, who had vowed to roll back
Soviet control of Eastern Europe, did nothing, and the Hungarian
uprising was crushed. Leaders of both U.S. parties accused Eisenhower
of kowtowing to the Soviets. Adlai Stevenson, the Democratic candidate
for president, alleged that the incumbent had "brought the coalition
of the free nations to a point where even its survival has been

Russia has invaded a border nation once again, and once again the
American president stands accused of vacillation. @BarackObama is not
the former supreme commander of Allied forces, so the darts fired his
way penetrate much deeper than they did into Eisenhower, who coasted
to re-election. Obama's cautious response to Russian President
Vladimir Putin's invasion of the Ukrainian region of Crimea has
confirmed his growing reputation as a weak-willed figure whose
faltering leadership has sent a message of impunity to the world's
bullies. Republican Sen. Lindsey Graham recently tweeted that Obama's
failure to attack the Libyans who killed U.S. diplomat Chris Stevens
in 2012 invited "this type of aggression." Graham has a partisan ax to
grind, but much of the commentariat has followed suit. My colleague
David Rothkopf, straining for terms of abuse sufficient to the moment,
has written that comparing Obama to Jimmy Carter, the gold standard
for presidential weakness, may be "unfair to Carter."

Eisenhower understood that bullies often cannot be deterred without
threatening a response that would be catastrophic for one and all.
This is especially the case when the aggressor cares much more about
the victim than we do. Nikita Khrushchev could not afford to lose
Hungary, just as Putin believes that he cannot afford to lose Crimea
to a Western-oriented Ukrainian government. That's no secret. Crimea
was historically Russian, serves as the home to Russia's Black Sea
Fleet, and satisfies Moscow's age-old drive for warm-water ports. A
thug like Putin responds to a threat of this magnitude the only way he
knows how -- with brute force. The idea that a more resolute American
president would have made Putin stay his hand seems fanciful, on the
order of "Who lost China?" or all the other places weak-willed
American leaders are said to have lost to the communists. Today's
version is "Who lost Benghazi?" -- or Syria.

Eisenhower felt confident that, in the end, the Soviets would not
dance on the grave of the West, but that it would turn out the other
way around. I suspect that Obama thinks about Putin in much the same
way. Those who sneer at Obama now laud Putin as a strategic
mastermind, playing Risk, as FP contributing editor Will Inboden puts
it, while Obama plays Candy Land. Yet Putin has turned Russia into
Saudi Arabia with nukes, a petrostate incapable of exporting anything
that doesn't come out of the ground. He's playing with a switchblade
while the rest of the world learns how to operate a laser.

As a foreign-policy president, Obama deserves to be compared to
Eisenhower at least as much as he does to Carter. Like Obama,
Eisenhower inherited a vast military budget that he viewed as an
unsustainable burden on the national economy. He tried, not always
successfully, to do more, or as much, with less. (In Maximalist,
Stephen Sestanovich describes both as "retrenchment" presidents.)
Obama's great goal in foreign policy is to wind down inherited
conflicts -- including the war on terror, as I wrote last week -- in
order to give his activist domestic agenda a fighting chance.

The besetting flaw of Obama's foreign policy is not that it's
irresolute but rather that it has become so single-mindedly,
unimaginatively subtractive. Obama entered office with great hopes of
reorganizing the world order around global issues like nuclear
nonproliferation and climate change. But he learned over time that he
could not wish away the intractable conflicts he had inherited and
that the American people had little appetite for his transformative
vision, and so his enthusiasm sagged and his horizons contracted. He
chose instead to make sure that America wasn't singed by the world's
conflagrations -- above all in Syria, where he seems quite content to
make empathic gestures in the face of the worst atrocities in a
That's bad enough, of course. The distance between the hopes Obama
once raised and the comfort zone he has chosen to occupy is far
greater than was the gap between Eisenhower's rhetorical
anti-communism and his pragmatic accommodations. Brian Katulis of the
Center for American Progress, which functions as the White House's
think tank, recently commented that Obama has stopped telling
Americans why the world matters. He may have concluded that he can't
win the argument.

My point, then, is not that Obama's detractors don't realize what a
fine job he's doing, but that his failures are not failures of nerve.
Had he followed a more confrontational policy toward Russia from the
outset, as conservative critics wish he had, he might not have gained
the cooperation he got on arms control, Afghanistan, and Iran -- and
he would have played into Putin's fantasy of a battle of equals
between the two countries, which in turn would have helped him gin up
even more vociferous Russian nationalism in the face of unacceptable
threats like the incorporation of Ukraine into Europe. I dearly wish
that Obama had agreed two years ago to train, fund, and equip the
Syrian rebels, and I believe his failure to intervene there will be a
lasting stain on his presidency. But I wish he had done so to rescue
the Syrian people from a monster, not to create a demonstration
project for Putin.

Obama will now do what he can to isolate Russia through some
combination of sanctions and the cancellation of events like the G-8
meeting scheduled for Sochi in June. None of that will have much of an
effect so long as Putin's cult of personality continues to transfix
ordinary Russian citizens; isolation will probably only strengthen his
standing. A new era of East-West confrontation may loom, though if so
it would be a much more lopsided one in which Russia has neither
allies nor a legitimating ideology. Even more than the last time
around, therefore, the West can afford to be steady and patient,
secure in the knowledge that the future lies with the liberal


I think President @BarackObama has been unfairly characterised as
somehow too cerebral and weak-willed. The President has deployed a
''Below the Radar'' [most of the time] very c21st multi dimensional
Approach, incorporating cyber War, Currency wars [I am sure] and a
sophisticated new Hybrid War whose first iteration was seen in
Benghazi then Syria and more recently Ukraine. The President was
seeking to press an Advantage right on the border of Russia. Thats not
soft-centred. The Fact that Vladimir Putin has been able to staunch
the advance speaks to Putin's formidable adversarial Skills. It would
be unconscionable for Putin to lose Crimea and the Port of Sevastopol.
To think he would simply roll over is absurd.

President Obama is waging a subtle Game but make no mistake its a very
offensive Game. Just because no one cares to appreciate its nuances is
I am sure painful for the president. Aly-Khan Satchu Nairobi

President @BarackObama Life Magazine


Ukraine hasn't made its February fuel payment and owes Russia $1.89
billion, according to gas export monopoly Gazprom


"Japan wants to prioritize discussions on China and clarify the
respective U.S. and Japanese roles in the event of a 'grey zone'
incident," said a Japanese government official, referring to less than
full-scale, systematic military attacks backed by a state but still
representing a threat to Japan's security.


Where grey-zone tensions are rising, joint intelligence, surveillance
and reconnaissance are vital, he said. "The reason that is needed is
to prevent the grey zone from becoming black."

These two countries [Saudi Arabia and Qatar] are primarily responsible
for the sectarian and terrorist and security crisis of Iraq Nouri
al-Maliki, Iraqi prime minister


SA, Rwanda expel diplomats in row over Rwandan exiles


The row strained ties between two African states involved in efforts
to bring peace to eastern Democratic Republic of Congo, where South
Africa has troops in a United Nations (UN) brigade that fought last
year against rebels whom UN experts said received support from Rwanda.
Kigali denied backing the Congolese rebels.

Late on Monday, armed men broke into the Johannesburg home of former
Rwandan army chief General Faustin Kayumba Nyamwasa, an exiled critic
of Rwandan President Paul Kagame.

Nyamwasa, who survived an assassination attempt in Johannesburg in
2010, was not in the house at the time.

A diplomatic source, who asked not to be named, told Reuters that
South African security services had tracked the attackers. "It was
very clear that they were intelligence personnel attached to the
Rwandan embassy," the source added.

Three diplomats from the Rwandan mission in Pretoria were ordered out
of the country in 48 hours this week. Kigali's tit-for-tat expulsions
followed on Friday.

"We have expelled six South African diplomats in reciprocity and
concern at South Africa's harbouring of dissidents responsible for
terrorist attacks in Rwanda," Rwandan Foreign Minister Louise
Mushikiwabo said in a comment on her Twitter account.


South Africa and Rwanda are on opposing sides in the DRC.

"On the two issues of principle, history and territory, there is no
room for compromise" Foreign Minister Wang Yi


"The Asia-Pacific should be a testing ground to our commitment to
build a new model of relations rather than a competitive arena," Wang
said of ties with the U.S.


Foreign Minister Wang Yi


read more

MH370 Saturday's red-eye flight vanished at cruising altitude in clear skies en route from Kuala Lumpur to Beijing. No distress signal appears to have been sent, no wreckage has been found and no aircraft malfunction has been identified.
Law & Politics

But it has been more than 24 hours since the plane went missing and
Malaysia Airlines said it was "fearing the worst".

Based on the last contact with the pilots, the Boeing 777-200ER is
presumed to have crashed off the coast of Vietnam.

Two passengers aboard were possibly travelling under stolen passports,
raising questions about foul play, but no group has claimed

"Aircraft do not crash while en route like this," said Paul Hayes,
Director of Safety at Flightglobal Ascend, a British-based aviation
consultancy. "It is an extremely unusual event."

read more

The use of stolen passports by two passengers to board a Malaysian airliner that vanished over the South China Sea sends a "red flag" that terrorism may have played a part
Law & Politics

There needs to be a "full scrub" of everyone on the flight, and all
U.S. intelligence agencies are working with their counterparts in
Asia, he said.

The United Arab Emirates backed Saudi Arabia's decision to label the
Muslim Brotherhood, an Islamist group supported by Qatar, a terrorist
organization amid diplomatic discord between the three countries.


Denial of "any form of financial or moral support" to the group is a
main aim of the change, the U.A.E. Foreign Ministry said yesterday in
a statement. Saudi Arabia unveiled the decision on March 7, two days
after the kingdom, the U.A.E. and Bahrain withdrew their ambassadors
from Qatar, which they accused of undermining the Gulf Cooperation
Council's security.

Qatar was the only member of the six-nation GCC to support the
Brotherhood in Egypt during the one-year rule of Islamist President
Mohamed Mursi, who was toppled by the military in July. Saudi Arabia
and the U.A.E. are "penalizing" the Qataris for backing the
organization, said Theodore Karasik, director of research at the
Institute for Near East and Gulf Military Analysis in Dubai.

"It appears that they are attempting to create a new security group
that is exclusive of those states that provide support to the Muslim
Brotherhood within the Gulf region," Karasik said in a telephone

The rift threatens to undermine the integrity of the GCC, whose
members supply about 20 percent of the world's oil. Saudi Arabia, the
U.A.E. and Qatar belong to the Organization of Petroleum Exporting
Countries as well as the GCC. Qatar, which hosts television
broadcaster Al Jazeera, also is the world's biggest exporter of
liquefied natural gas.

The advert with David holding an AR-50A1 rifle has provoked anger in Italy


Man of the people: Pope Francis in St Peter's last summer.
Photograph: Reuters


Julian Coman: 'Way beyond the ranks of the faithful, the first Latin
American pontiff has wowed the world'.

Time magazine pronounced Francis man of the year. Gawker, the American
gossip site, took time out to salute the man it called "our cool new
pope". In January Rolling Stone magazine, home to profiles of the
likes of Britney Spears and Johnny Depp, ran a 10,000-word piece. Even
graffiti artists have done their bit: one wall close to St Peter's
basilica carries a portrait of the 77-year-old Argentine as Superman
in a cassock.

read more

Currency Markets at a Glance WSJ
World Currencies

Euro 1.3887
Dollar Index 79.69
Japan Yen 103.04 Gross domestic product grew an annualized 0.7 percent
from the previous quarter, the Cabinet Office said today in Tokyo,
less than a preliminary estimate of 1 percent and a 0.9 percent median
forecast in a Bloomberg News survey of 20 economists
Swiss Franc 0.8770
Pound 1.6734
Aussie 0.9040
India Rupee 61.30
South Korea Won 1065.85
Brazil Real 2.3404
Egypt Pound 6.9683
South Africa Rand 10.7713

China's overseas shipments unexpectedly declined 18.1 percent in
February from a year earlier, customs data showed March 8, compared
with analysts' median estimate for a 7.5 percent increase. Imports
rose 10.1 percent, more than projected, leaving a trade deficit of $23
billion, the data showed.

Dollar Index 3 Month Chart INO 79.69 [Has defied the Bulls -
trades very soft]


Euro versus the Dollar 3 Month Chart 1.3887 [1.3380 STOP]


The European Central Bank left its benchmark interest rate at 0.25
percent at a March 6 meeting and President Mario Draghi signaled that
deflation risks are easing. Inflation, which was at 0.8 percent in
February, will accelerate to 1.7 percent in the fourth quarter of
2016, according to central bank forecasts.

Dollar Yen 3 Month Chart INO 103.04


read more

Japan's Economy Expands Less Than Initially Estimated in 4Q
International Trade

Japan's economy expanded less than estimated in the fourth quarter and
the current-account deficit widened to a record in January,
highlighting risks to Abenomics as a sales-tax increase looms.

Gross domestic product grew an annualized 0.7 percent from the
previous quarter, the Cabinet Office said today in Tokyo, less than a
preliminary estimate of 1 percent and a 0.9 percent median forecast in
a Bloomberg News survey of 20 economists. The current-account deficit
widened to 1.59 trillion yen ($15.4 billion), a record in data back to
1985, the finance ministry said.

While growth is set to surge this quarter before the bump in the sales
tax next month, Prime Minister Shinzo Abe's task is to steer the
nation through a projected contraction in the April-June period. The
prime minister is due to detail growth measures in June, while
economists forecast the Bank of Japan will add to unprecedented easing
to keep the world's third-biggest economy on track for a 2 percent
inflation target.

read more

Commodity Markets at a Glance WSJ

Gold 3 Month Chart INO 1334.26


While gold is off to its best start in six years after topping $1,350
an ounce, Goldman's Jeffrey Currie says chances are increasing that
prices will slump to $1,000 for the first time since 2009.


"There's been a perfect storm of geopolitical uncertainty as well as
growth scares here in the U.S."

Gold futures in New York climbed 1.3 percent last week, the eighth
advance this year.

Crude Oil 3 Month Chart INO 102.42


"For the two big commodities, oil and gold, we've probably seen
relative highs for the next month. Once this geopolitical risk premium
ebbs, I don't see a lot of fundamental speculative support to push
gold a lot higher."

Bullish bets on crude oil rose 2.2 percent to 346,469 contracts as of
March 4, the most ever in records going back to June 2006, government
data show. West Texas Intermediate reached $105.22 a barrel in New
York March 3, the highest since September. Russia is the biggest
energy exporter.

"An entire hotel designed by me. It's the first time for me. I
think the idea is great," said Lagerfeld in a statement.


Coffee May 2014 3 Month Chart INO


Prices for arabica beans, the variety favored by Seattle-based
Starbucks Corp. (SBUX), surged 78 percent since December. Investors
increased their net-long position to the highest since May 2011.

read more

South Africa All Share Bloomberg +3.84% 2014

Sim Tshabalala, who now runs the bank alongside Ben Kruger, said:
"There are massive profit pools on the African continent."


Dollar versus Rand 3 Month Chart INO 10.770535


Egypt Pound versus The Dollar 3 Month Chart INO 6.9683


Egypt EGX30 Bloomberg +17.13% 2014


Nigeria All Share Bloomberg -5.44% 2014


The Nigeria Naira most expensive Currency on a Real Effective Exchange Rate


Ghana Stock Exchange Composite Index Bloomberg +12.78% 2014


Unilever Plans Manufacturing Plant in Ethiopia as Growth Surges


Unilever (UNA),
the world's second-biggest consumer-products maker,
plans to open a manufacturing plant in Ethiopia during the next year
in a bid to emulate its expansion into Vietnam, a company official

The London- and Rotterdam-based company is renting premises for a
plant in the Chinese-built Eastern Industry Zone in Dukem, 19 miles
southeast of the capital, Addis Ababa, Dougie Brew, head of corporate
affairs in Africa, said in a phone interview on March 4. Unilever,
which already imports Knorr stock cubes and Omo detergent into
Ethiopia, may initially make fabric-cleaning soaps before moving into
food, he said from London.

"The plans are ambitious for Ethiopia because we see it as a growing
market," Brew said. "We've taken a long-term investment decision in
Ethiopia because of the demography, broad-based growth and opportunity
to create a genuinely inclusive and sustainable business model from

Ethiopia's economy is projected to expand 8 percent in the 12 months
to July 7 after growing an average of 9.3 percent for the past four
years, according to an October report by the International Monetary
Fund. The country's estimated population last year of 93.9 million
people, sub-Saharan Africa's second-largest, is increasing at 2.9
percent a year, according to the U.S. Central Intelligence Agency's
World Factbook.

Yum! Brands Inc. (YUM), the owner of the KFC fast-food chain, said on
March 6 it's considering entering Ethiopia as it expands across the

Unilever invested $130 million in Vietnam as the business grew
annually at more than 10 percent for 14 years after opening in 1995, a
2009 report by a think-tank at the Southeast Asian nation's Planning
and Investment Ministry said. The company is looking at a "similar
scale" operations in Ethiopia, Brew said.

Ethiopia's economy, at $41.6 billion, is almost four times smaller
than Vietnam's, according to World Bank data.

The company plans to build a "comprehensive consumer-goods
manufacturing business" in Ethiopia, which will source from Ethiopian
suppliers, Brew said. "Retail is still a restricted sector so a lot of
our work will be developing local Ethiopian companies that will act as

The case study by Vietnam's Central Institute for Economic Management
praised Unilever Vietnam Co. for sourcing 60 percent of raw materials
and all of its packaging domestically by 2007. The company created
1,200 jobs directly and 8,000 indirectly in the country, according to
the report posted on Unilever's website.

The company whose brands include Lynx deodorant, Vaseline and Lipton
Tea, will focus on sales in Ethiopia and later neighbors including
South Sudan and Somalia once security improves.

"In businesses like ours it always makes sense to manufacture close to
the consumer," he said.

Africa's Digital Revolution: Full Speed Ahead


The construction of undersea fiber-optic cables, coupled with a full
embrace of mobile technology, redefined Africa's virtual landscape. In
2013, there were over 500 million mobile phone subscribers, an
increase of over 100 percent since 2008.

The possibilities for technological growth are lucrative. A McKinsey
study found that the continent could gain $300 billion by 2025 if it
embraces the Internet as it did mobile phones.

Mobile banking is the only connection many remote citizens have to
savings and investing. One Business Insider journalist captured the
phenomenon exactly, "To Westerners, 'mobile banking' is a new way of
doing something old. To many Africans, it is the obvious way of doing
something new."

"The chamber by majority finds Germain Katanga guilty... of complicity
in the crimes committed on Feb. 24, 2003," said judge Bruno Cotte.


The verdict was only the ICC's third and its second conviction since
opening its doors more than a decade ago.

DAKAR, Senegal -- Gambia's president said that he wants to implement a
policy change that would shift the country's language from English to
a local language.


"We no longer subscribe to the belief that for you to be a government
you should speak English language. We should speak our language,"
President Yahya Jammeh said during the swearing-in ceremony of
Gambia's new Chief Justice that aired on state-run Gambia Television
Services on Friday.

President Yahya Jammeh


International airlines have cancelled flights to and from Sierra Leone
after a U.N. aviation regulator discovered that the only functioning
fire engine at its main airport had broken down, an airport official
and airline staff said on Sunday.


The International Civil Aviation Organisation (ICAO) downgraded
Freetown airport after it made the discovery during a spot check, they

The top two international carriers to the West African country -
British Airways and Kenya Airways - cancelled flights indefinitely
from Saturday as a result, leaving more than 100 passengers stranded.

Freetown International Airport


read more

Uhuru Kenyatta said that he and Deputy President William Ruto will take a 20 percent pay cut while members of his cabinet will see their pay reduced by 10 percent with immediate effect.
Kenyan Economy

Kenyatta said a new policy will restrict foreign journeys to only the
most essential. He said rules will be enforced to reduce wasteful
government spending. Kenya is spending close to $4.6 billion in
salaries leaving only $2.3 billion for development, Kenyatta said.

"We need to deal with this monster if we are to develop this nation
otherwise sooner or later we will become a nation that only collects
taxes to pay ourselves," Kenyatta said. He was speaking at the end of
a cabinet retreat near Mount Kenya to review progress made one year
since he was elected.

Anti-corruption crusader Mwali Mati said he is treating the
president's announcement of a pay cut "as a gimmick."

Mati said the only way to reduce government expenditure is to stem
waste and fraud in the central government. He said the auditor
general's report at the end of 2013 said that over $3.5 billion had
gone missing from government coffers. He said Kenyatta asked for a
probe into the missing cash but months later the president has not
explained where the money has gone.


From Fridays Commentary ALY-KHAN SATCHU Wrote: (your comment)

The Achilles Heel of the African Resurgence is the recurrent
Expenditure [Salaries] component of their Budgets. Essentially,
Government in Africa is fabulously expensive and its Productivity
shockingly low. As our Economies grow and Africa is seeking to
accelerate its convergence [its happening about that let there be no
doubt], African Governments are beginning to load their balance
sheets. The Train wreck Risk whilst a residual one might grow because
I have yet to see or meet an African Politician who is prepared to
take a scalpel to the cost of delivering Government in Africa.
Aly-Khan Satchu Nairobi

I, therefore, stand corrected.

British-American Investments Company (Kenya) reports FY PAT 2013
+5.33% Earnings here @britamEA


Par Value:
Closing Price:           18.25
Total Shares Issued:          1891460000.00
Market Capitalization:        34,519,145,000
EPS:             1.4
PE:                 13.036

Full Year through 31st December 2013 versus through 31st December 2012

FY Gross Earned Premium 8.847166b versus 6.849692b +29.161%
FY Net Earned Premium 7.751199b versus 5.956691b +30.125%
FY Fund Management Fees 613.511m versus 377.208m +62.6%
FY Investment Income 2.759463b versus 1.971016b +40.002%
FY Net Realised gains on Financial Assets 232.727m versus 45.554m
Net Fair Value gains on financial assets at Fair Value through Profit
or Loss 3.355541b versus 3.032092b
Commissions earned 370.521m versus 307.639m
FY Total Revenue 15.130058b versus 11.743384b +28.838%
FY Expenses
Insurance claims and loss adjustment Expenses 3.270310b versus
4.282914b -23.642%
Net Insurance benefits and claims 4.826720b versus 3.669331b +31.54%
Operating and other Expenses 3.210990b versus 2.286578b +40.42%
FY Total Expenses 12.115583b versus 9.040823b +34.009%
FY Profit Before Tax 3.196161b versus 2.849406b +12.274%
FY Profit after Tax 2.653789b versus 2.519461b +5.33%
FY Earnings Per Share 1.40 unchanged
Final Dividend 25 shillings a share

Company Commentary

Full Year Profit Before Tax +12.2%
Core Business Revenue +30.9%
Revenue for the Insurance Business in Kenya +26.5%
Asset Management Fees +62.6%
Regional Offices contributed 294m +232.2%
Opened Operations in Rwanda
Share Purchase Agreement with Real


They are clearly seeking to Dash for Growth and geographical reach and
that can be seen in the +28.838% FY Revenue Gain.
It looks fairly priced now after a really aggressive Rally that
started in Q4 2013.

"The group has recently started a strategic review with regards to our
activities in Uganda and Kenya," France Telecom's press officer Tom
Wright told the Business Daily in an email.


The revelation came two weeks after Telkom Kenya's board met with the
request for more shareholder funding top on its agenda.

"I put quarter two funding proposal before our shareholders and now it
is upon them to act. I cannot share how much I requested at this time
but definitely we need money to operate," Mickael Ghossein, the Telkom
Kenya CEO, said in a previous interview.

France Telecom had hoped to return the firm to profitability by 2010
and list it on the Nairobi Securities Exchange by end of this year, a
target that has been made impossible by persistent loss-making.

Telkom Kenya's revenue for 2013 declined to Sh9.7 billion (83 million
euros) from Sh10.2 million (86 million euros) in 2012 according to
Orange Group's financial results that were released last Thursday.

The company said its revenue from the African business grew, partly
helping to offset a decline in its European operations. Orange Africa
operations include Kenya, Uganda, Democratic Republic of Congo, Niger,
Côte d'Ivoire, Mali, Guinea and Senegal.

The revelation came two weeks after Telkom Kenya's board met with the
request for more shareholder funding top on its agenda.

"I put quarter two funding proposal before our shareholders and now it
is upon them to act. I cannot share how much I requested at this time
but definitely we need money to operate," Mickael Ghossein, the Telkom
Kenya CEO, said in a previous interview.

France Telecom had hoped to return the firm to profitability by 2010
and list it on the Nairobi Securities Exchange by end of this year, a
target that has been made impossible by persistent loss-making.

Telkom Kenya's revenue for 2013 declined to Sh9.7 billion (83 million
euros) from Sh10.2 million (86 million euros) in 2012 according to
Orange Group's financial results that were released last Thursday.

The company said its revenue from the African business grew, partly
helping to offset a decline in its European operations. Orange Africa
operations include Kenya, Uganda, Democratic Republic of Congo, Niger,
Côte d'Ivoire, Mali, Guinea and Senegal.

Hertz also complained the Kenyan government appeared oblivious to the
troubles in the tourism sector.


"One would think that the government is very much aware that this
Kenya destination needs a lot of support. I think they have just lost
contact with reality on the ground and nobody is taking any measures
to correct that," he said.

"Kenya is making things difficult... to sell Kenya as a destination".

Latest data from the Kenya National Bureau of Statistics shows that
production of soft drinks (which include bottled water and carbonated
drinks but exclude juices) hit 388,753 metric tonnes in the 11 months
to November, exceeding the 2012 full-year output by 8.1 per cent.


Kenya Shilling versus The Dollar Live ForexPros 86.527


Nairobi All Share Bloomberg +3.23% 2014


Nairobi ^NSE20 Bloomberg -0.39% 2014


Every Listed Share can be interrogated here


read more

by Aly Khan Satchu (www.rich.co.ke)
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March 2014

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