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Satchu's Rich Wrap-Up
 
 
Wednesday 12th of March 2014
 
Morning
Africa

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


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

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


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)''

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Working meeting with Foreign Minister Sergei Lavrov @PutinRF_Eng
Law & Politics


The Obama administration on Tuesday said U.S. military drills in
Eastern Europe "speak in a clear voice" to Russia

http://thehill.com/blogs/blog-briefing-room/news/200462-wh-russia-should-note-us-military-exercises

A U.S. Navy destroyer plans to take part in military exercises with
Romanian and Bulgarian warships in the Black Sea, just across the
water from the Crimean Peninsula. In Poland, U.S. fighter jets plan to
participate in joint exercises.

Conclusions


Crimea is a Fait Accompli.

"Anyone who has chanced like me to roam through desolate mountains and
studied at length their fantastic shapes and drunk the invigorating
air of their valleys can understand why I wish to describe and depict
these magic scenes for others."
-- Mikhail Lermontov, Un Héros de notre temps. (précédé de) La
Princesse Ligovskoï

The flick of the tail

http://www.atimes.com/atimes/Global_Economy/GECON-01-110314.html

Well, that didn't take long. While the risk of all-out war is still no
more than modest, it has definitely emerged as a lot more than a
"tail" of less than 1% probability that risk managers usually (but
wrongly) ignore.

This photo was taken from the International Space Station, showing
the smoke plume drifting out from the World Trade Centre in New York
on 11 September 2001

http://www.theguardian.com/commentisfree/2014/mar/10/911-attack-seen-from-space-image-impotence#zoomed-picture

Out of Time: A Contemporary View Gerhard Richter @Moma

http://www.moma.org/collection/object.php?object_id=79037

The fifteen paintings that compose October 18, 1977 are based on
photographs of moments in the lives and deaths of four members of the
Red Army Faction (RAF), a German left-wing terrorist group that
perpetrated a number of kidnappings and killings throughout the 1970s.
Like On Kawara's date paintings, these paintings have a single date as
their title. On this date the bodies of three principal RAF members
were found in the cells of the German prison where they were
incarcerated. Although the deaths were officially deemed suicides,
there was widespread suspicion that the prisoners had been murdered by
the German state police. Richter based his paintings on newspaper and
police photographs; his reworking of these documentary sources is
dark, blurred, and diffuse. Richter hopes that, "by way of reporting,"
these paintings will "contribute to an appreciation of [our time], to
see it as it is."

Gerhard Richter Baader-Meinhof

http://www.mustardayonnaise.com/baadermeinhof/images/RichterFuneralBeerdigungL.jpg

Gerhard Richter Baader-Meinhof

http://www.moma.org/collection_images/resized/058/w500h420/CRI_151058.jpg

"Stories have no point if they don't absorb our terror." -- Don DeLillo, Mao II

read more


How It's Possible to Lose an Airplane in 2014 @Wired
Law & Politics


The most chilling thing about this is the fact the plane seemingly
vanished without a trace. The captain, who had more than 18,000 hours
of flight time, gave no warning, issued no mayday. There was no
indication anything was amiss. This is not terribly unusual, because a
flight crew's first priority in an emergency is dealing with the
situation at hand. "Aviate, navigate, then communicate" is the mantra.
Airline pilot and blogger Patrick Smith says the radio silence
"doesn't startle me."

read more




@BOEING warned of computer takeover of 777 #MH370
Law & Politics


The integrated network configurations in the Boeing Model 777-200,
-300, and -300ER series airplanes may enable increased connectivity
with external network sources and will have more interconnected
networks and systems, such as passenger entertainment and information
services than previous airplane models. This may enable the
exploitation of network security vulnerabilities and increased risks
potentially resulting in unsafe conditions for the airplanes and
occupants. This potential exploitation of security vulnerabilities may
result in intentional or unintentional destruction, disruption,
degradation, or exploitation of data and systems critical to the
safety and maintenance of the airplane. The existing regulations and
guidance material did not anticipate these types of system
architectures. Furthermore, 14 CFR regulations and current system
safety assessment policy and techniques do not address potential
security vulnerabilities which could be exploited by unauthorized
access to airplane networks and servers. Therefore, these special
conditions are being issued to ensure that the security (i.e.,
confidentiality, integrity, and availability) of airplane systems is
not compromised by unauthorized wired orwireless electronic
connections between the airplane information services domain, aircraft
control domain, and the passenger entertainment services.

read more


And Pray What was that? #Nairobi 13 days ago
Law & Politics


"The great thing about the modern world is that average people have
more power than ever before," Clinton said, referring to the ability
to mobilize people through technology and social media. "... If lots
of people band together, they have staggering power."
http://m.apnews.com/ap/db_268778/contentdetail.htm?contentguid=YHwaHN7D

Since the interim deal was signed, purchases of Iranian oil by its top
four buyers - China, India, Japan and South Korea - have been creeping
up and together they have taken 1.25 million barrels per day (bpd) in
January against a daily average of about 935,900 bpd for all of 2013.
http://www.reuters.com/article/2014/03/11/us-india-iran-imports-idUSBREA2A0TU20140311

"It is a fact that they (the United States) have asked us that Iran's
exports to India should not exceed 195,000 bpd between January to July
and we have said that we'll take care of that," said one of the
government sources, all of whom requested anonymity because of the
sensitivity of the issue.

Saudi Arabia threatens to blockade Qatar over terrorism Irish Times
http://www.irishtimes.com/news/world/asia-pacific/saudi-arabia-threatens-to-blockade-qatar-over-terrorism-1.1719434

Saudi Arabia has threatened to blockade neighbouring Qatar by air,
land and sea unless Doha cuts ties with Egypt's Muslim Brotherhood,
closes global channel al-Jazeera, and expels local branches of the US
Brookings Institution and Rand Corporation think tanks.

The threat was issued by Riyadh before it withdrew its ambassador to
Doha and branded as "terrorist organisations" the brotherhood,
Lebanon's Hizbullah and al-Qaeda-linked Islamic State of Iraq and
Syria and Jabhat al-Nusra.

King Abdullah has decreed that any Saudi who fights abroad could be
jailed for 20-30 years, and those who join, endorse or provide moral
or material support to groups classified as "terrorist" or "extremist"
will risk prison sentences of five to 30 years.

The decree followed the gazetting of a sweeping new anti- terrorism
law prohibiting acts that disturb public order, promote insecurity,
undermine national unity or harm the reputation of the kingdom.

An informed source speculated the decree sends a message to Saudis:
"Don't come home. Fight unto death or victory."

Fearing blowback from Saudi jihadis engaged in the Syrian war, Riyadh
has recently given the Syrian file to the interior minister Prince
Mohamed bin Nayef, who has been in charge of an anti-terrorism
campaign in the kingdom and Yemen, replacing intelligence chief Prince
Bandar bin Sultan.

On the third anniversary of the Fukushima disaster, a woman prays
for those who died in the earthquake and tsunami in Rikuzentakata,
Japan. Photograph: Kyodo/Reuters
http://www.theguardian.com/news/gallery/2014/mar/11/photo-highlights-of-the-day

read more


Currency Markets at a Glance WSJ
World Currencies


Euro 1.3854 touched $1.3915 on March 7, the highest since October 2011.
Dollar Index 79.82
Japan Yen 102.98
Swiss Franc 0.8780
Pound 1.6628
Aussie 0.8963 The Australian dollar declined 0.3 percent to 89.54 U.S.
cents as of 4:20 p.m. in Sydney from yesterday, having fallen 1.5
percent since March 6
A consumer sentiment index for Australia fell 0.7 percent to 99.5 in
March, the lowest since May, a Westpac Banking Corp. and Melbourne
Institute survey showed today in Sydney. A figure below 100 indicates
pessimists outnumber optimists.
India Rupee 61.045
South Korea Won 1069.45
Brazil Real 2.3624
Egypt Pound 6.9597
South Africa Rand 10.8681

The yen has climbed 1.9 percent this year, according to a Bloomberg
Correlation Weighted Indexes which track 10 developed nation
currencies. The dollar has fallen 0.6 percent and the euro is up 0.3
percent.

Dollar Index 3 Month Chart INO 79.82

http://quotes.ino.com/charting/index.html?s=NYBOT_DX&v=d3&t=c&a=50&w=1

Euro versus the Dollar 3 Month Chart 1.3854

http://quotes.ino.com/charting/index.html?s=FOREX_EURUSD&v=d3&t=c&a=50&w=1

Dollar Yen 3 Month Chart INO 102.98 [From a Trading Point of View
I prefer being Long Yen above 103+]

http://quotes.ino.com/charting/index.html?s=FOREX_USDJPY&v=d3&t=c&a=50&w=1

The misery index, which adds the jobless rate to the level of
inflation, will climb to 7 percentage points in the three months
starting April 1 when Japan raises its sales levy to 8 percent from 5
percent, based on the median estimates of economists in Bloomberg News
surveys of unemployment and consumer prices. That would be the highest
level for the measure since June 1981 when Japan was emerging out of
depression after the oil shocks in the 1970s.

Toyota Motor Corp., forecasting a record 1.9 trillion yen ($18
billion) profit this fiscal year, agreed to increase base wages in
Japan for the first time since 2008. The average Toyota Motor Workers'
Union member will earn 2,700 yen more in base pay per month, the
nation's largest carmaker said today. Toyota also will pay an average
bonus of 2.44 million yen, the equivalent of 6.8 months of salary and
the most in six years.

read more


Commodity Markets at a Glance WSJ
Commodities


Gold 3 month Chart INO 1357.45 [Highest since October 30th]

http://quotes.ino.com/charting/index.html?s=FOREX_XAUUSDO&t=c&a=50&w=1&v=d3

On March 3, the metal reached $1,355, the highest for a most-active
contract since Oct. 30.

Crude Oil 3 Month Chart INO 99.47 [Told Ya above 100.00 is
nosebleed Territory]

http://quotes.ino.com/charting/index.html?s=NYMEX_CL.J14.E&v=d3&t=c&a=50&w=

Emerging Markets

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Militant Islamist website calls for attacks on France and Hollande - SITE
Africa


A militant Islamist website has created a series of posters calling
for attacks on France and for the assassination of President Francois
Hollande in reprisal for the country's policies in Mali and the
Central African Republic, the SITE monitoring service said late on
Monday.

In addition to assisting Mali in its war against Islamists, France
sent troops four months ago to the majority Christian Central African
Republic, where predominantly Muslim "Seleka" rebels seized power a
year ago. The Seleka have since been pushed back by Christian
"anti-balaka" - "anti-machete" in the local language - militia.

The al Minbar Jihadi Media Network, a well-known Islamist website,
created six posters as part of a campaign it dubbed, "We will not be
silent, O France," SITE said.

The forum's "Media soldiers for the support of Islam" designed the
posters, which can be downloaded and printed by visitors to the site.

France's troops in the Central African Republic, around 2,000
soldiers, are supporting a 6,000-strong African Union peacekeeping
mission.

"To our lone-wolves in France, assassinate the president of disbelief
and criminality, terrify his cursed government, and bomb them and
scare them as a support to the vulnerable in the Central African
Republic," one of the posters said.

read more


Desperate dictator: China refuses Robert Mugabe's request for Zimbabwe bailout CS Monitor
Africa


Last November, China pledged to give Africa some $1 trillion in aid
over the next 12 years.

At the time, a clearly bedazzled Mugabe regime, just re-elected in
late July, told itself, its creditors, and its citizens that Zimbabwe
would reap a windfall of some $30 billion in Chinese loans and grants.
It sent a series of delegations to Beijing for that purpose.

Zimbabwe and its autocrat, President Robert Mugabe, need the money.
The country is isolated, financially tattered, and increasingly
desperate economically. Its financial obligations are $11 billion in
arrears, and with its ongoing ideological standoff against the West,
the nation is unable to borrow from the IMF, the World Bank and the
UN. It has no viable industries, and with more than 85 percent of the
population unemployed and an estimated 20-25 percent of Zimbabweans
living outside the nation, an inability to secure a stability loan
could breed serious political problems.

It appeared that China would step in, solve the autocrat's problems,
validate his so-called "Look East" policy, and gain a stronger
foothold in southern Africa. The bailout would help stabilize the
government and pacify a growing trend of middle- and working-class
anger at the poor economy and corruption. The aid was being called a
"friendly boost."

Yet in what appears to be an embarrassing slap, China's much-touted
bail-out - or at least Mugabe's portrayal of it - now appears to have
fallen through.

Mugabe's spokesmen have steadily downgraded the size of China's
support - from $30 billion to $10 billion, to $3 billion, and then, in
February, to $400 million.

Now it appears China won't play Santa Claus at all. In what may be a
harbinger of a tougher approach, it last week apparently ruled out any
direct aid.

"We don't normally provide budgetary support to other countries but we
try to help Zimbabwe in our own way," the Chinese ambassador to
Zimbabwe told reporters.

Chinese officials and the business community in Shanghai told the most
recent Zimbabwe delegation, headed by Finance Minister Patrick
Chinamasa, that he needed to offer bankable projects instead of
promises like the one he tried to sell Beijing to get cash.

Mr. Chinamasa had sought funding for the giant Zimbabwe Agenda for
Sustainable Socio-Economic Transformation (ZimAsset), a $27 billion
plan to bring economic revival. Zimbabwe's entire annual budget is
$4.5 billion, to give a sense of how large the request was.

Chinamasa's delegation tried to secure loans using the nation's
mineral reserves as security. But the Chinese demanded an accounting
of when Mugabe's projects would break even, and how a payment plan
would work - which Chinamasa did not appear to have ready.

"Mugabe cannot economically hold fort from now till 2018 without a
huge financial boost, so we are likely to see more trips to China,"
says Clive Moyo, an economic analyst based in Johannesburg.

"But, as we have seen in past times, such trips have mostly been
fruitless when they concern huge financial aid, yet we keep trying. We
are now like gamblers who keep putting money and efforts toward trying
to land the jackpot, only to see yet another heavy loss.
Unfortunately, no one else can bail us out, so it [is] a vicious cycle
of hopes and heartbreaks."

Since their controversial election victory last July 31, the Zanu (PF)
government's pleas for funding have gone unheeded, as more and more
doors seem to be closing in their bid to turn around an economy that
has faced 15 years of questionable management. Earlier this winter
Chinamasa failed in trips to Washington to secure IMF and World Bank
loans.

The African Development Bank estimates Zimbabwe needs $14 billion to
pay back lenders and be eligible for aid that stopped in 1999 because
of arrears.

read more


The company wants to continue annual growth rate of 30% in Africa. GE
Africa


GE sees that coming from the conversion of oil and gas reserves on the
continent into electric power generation. The company is also zeroing
in on building new manufacturing capacity in Russia, Angola, Indonesia
and Brazil.

"The world is complicated," Mr. Immelt wrote. "But, through the fog of
the last five years, I would take the 2014 economy any day."

South Africa All Share Bloomberg +3.45% 2014

http://www.bloomberg.com/quote/JALSH:IND

Dollar versus Rand 3 Month Chart INO 10.8699

http://quotes.ino.com/charting/index.html?s=FOREX_USDZAR&t=c&a=50&w=1&v=d3

Egypt Pound versus The Dollar 3 Month Chart INO

http://quotes.ino.com/charting/index.html?s=FOREX_USDEGP&v=d3&t=c&a=50&w=1

Egypt EGX30 Bloomberg +19.63% 2014 [Africa's Best]

http://www.bloomberg.com/quote/CASE:IND

Nigeria All Share Bloomberg -4.67% 2014

http://www.bloomberg.com/quote/NGSEINDX:IND

Ghana Stock Exchange Composite Index Bloomberg +12.64% 2014

http://www.bloomberg.com/quote/GGSECI:IND

Boosting Ethiopia's economic growth with building boom

http://news.yahoo.com/boosting-ethiopias-economic-growth-building-boom-064408834.html

Addis Ababa (AFP) - Above Addis Ababa's concrete skyline, cranes tower
high amid blasts from nearby drills and diggers. At the feet of
buildings shrouded in bamboo scaffolding, excavators dig up dirt
tracks, to be replaced by paved roads and a modern railway.

It is a scene common to most neighbourhoods in the Ethiopian capital,
which has turned into a giant building zone and a city in
transformation.

"It looks like a construction site when we compare from the previous
time," said Berhanu Kassa, manager of B.B. Construction in the
Ethiopian capital.

"The basic engine blocks of economic transformation are the
infrastructure," said Zemedeneh Negatu, managing partner and Ernst &
Young in Ethiopia.

"The Achilles heel of Africa is power, lack of power, lack of road
networks, lack of the basic needs that you need to transform your
economy."

"There's no financial markets, no stock exchange, so real estate
investments seem to be the most attractive from that point of view,"
he added.

Reykjavik to Start Drilling on $2 Billion Ethiopia Power Project

http://www.bloomberg.com/news/2014-03-11/reykjavik-to-start-drilling-on-2-billion-ethiopia-power-project.html

Reykjavik Geothermal, the Icelandic power-plant builder, plans to
begin drilling in Ethiopia by July as part of a $2 billion project to
develop the renewable energy source, Chief Operating Officer Gunnar
Orn Gunnarsson said.

Ethiopia's government signed a deal with the Reykjavik-based company
in October to build a power plant on an imploded volcano in the Rift
Valley that will generate 500 megawatts of electricity by 2020. The
licensing of a large-scale private power-generation project marks a
shift from the Horn of Africa state's previous reliance on domestic
investment and Chinese loans to finance infrastructure development.

"We think we have a project that can have a return on equity that is
acceptable by the investors," Gunnarsson said in an interview on March
7 from Iceland. The company plans to begin closing financing deals
this month worth as much as $80 million and expects to eventually
raise $500 million from equity partners, he said.

Ethiopia's economy is projected to expand 8 percent in the fiscal year
to July 7, the end of the year in the Ethiopian calendar, after
increasing at an annual average rate of 9.3 percent for the past four
years, according to the IMF. That growth rate is convincing companies
to invest in producing electricity from ample resources of wind,
geothermal, water and sun, Prime Minister Hailemariam Desalegn said
Feb. 10. General Electric Co. (GE) is considering investing in the
power industry in the country, the government said in January.

"All the industries here are screaming for power," he said. "It's
dragging their development of everything to have no power."

The Ethiopian Electric Power Corp., a government utility, is building
the 6,000-megawatt Grand Ethiopian Renaissance Dam on the Blue Nile
River. The 80-billion birr ($4.1 billion) hydropower project will be
paid for by domestic bond sales and government funds and is scheduled
for completion in 2018.

The Export-Import Bank of China is primarily funding a $1-billion
transmission line from what will be Africa's largest power plant.
Chinese banks are also financing new railways and roads on Ethiopia's
main trade route to the Port of Djibouti.

On top of the collapsed volcano, or caldera, steam seeps from cracks
between rocks in an undulating, dusty patch of Ethiopia's Rift Valley
about 20 kilometers (12 miles) west of the town of Shashemene.
Residents have propped up meshes of branches to trap the condensing
steam. A few kilometers away, hundreds of head-scarfed women, children
and donkeys gather with yellow jerry cans to collect water from a rare
well.

"The government sees this as a critical project because they want to
demonstrate that Ethiopia is open for business," he said in Awassa.

India Inc looks to Japanese funding for expansion in Africa

http://www.domain-b.com/economy/trade/20140311_japanese.html

 Describing Japan as one of the ''largest sources of patient funding''
in the world, Tata - who is also the chairman of the Africa desk in
the Confederation of Indian Industry (CII) - today told reporters on
the sidelines of the 10th India-Africa business conclave, organised by
CII and India's Export-Import Bank in New Delhi that a joint
India-Japan initiative is being discussed to ensure Indian companies
get the resources to deepen their engagement with Africa.

''Perhaps the one area where Indian industry needs a little more
assistance is in areas like infrastructure and construction, where we
need long-term patient funding for the projects that we wish to
participate in Africa.

''And obviously, India is not the cheapest source of funds in the
world,'' Tata said. ''We need to find sources of third country funding
and find a mechanism of making that third country funding available to
Indian companies to enable them to offer packages to Africa.'' He
said.

Tata's comments came as a CII-commissioned report by the international
consulting and auditing firm McKinsey & Co noted that ''India has
recently built momentum in Africa, even though some economies like
China and the Middle East are in a stronger position. India has the
opportunity to propel this momentum further with a special value
proposition to partner in Africa's development based on our geographic
proximity, cultural affinity, IT (information technology)/engineering
talent and entrepreneurship and low cost operating models.''

India ''can aspire to quadruple its revenues from Africa to $160
billion by 2025 by focusing its presence in sectors such as IT
services, agriculture, infrastructure, pharmaceuticals and consumer
goods,'' it said while pointing out that in the next decade, Africa
was expected to overtake the Middle East to be the second fastest
growing market globally-after Asia. More than half of Africa's 55
countries are expected to grow faster than 5% annually till 2025, it
said.

Barnik Maitra, partner at McKinsey, said, ''African governments have
taken several steps to improve overall stability and security.
Comparing the period between 1995-2005 and 2006-2013, inflation
dropped from 23 per cent to 8 per cent, government debt (as a share of
gross domestic product) dropped from 105 per cent to 52 per cent, and
exchange rate volatility dropped from 29 per cent to 12 per cent.
Serious conflicts (defined as conflicts with more than 1000
deaths/annum) have fallen from 4.8 per annum in the 1990s to 2.6 per
annum in the 2000s. - See more at:
http://www.domain-b.com/economy/trade/20140311_japanese.html#sthash.bHtIavDD.dpuf

Chinese chamber of commerce in Angola set up a service center on
Monday in the capital Luanda to provide legal assistance and logistic
support to increasing Chinese enterprises and expatriates in the
African country.

http://www.globaltimes.cn/content/847556.shtml#.Ux7YARZViX0

Currently there are at least 500 Chinese enterprises operating in
Angola and more than 100,000 Chinese expatriates working in the
post-war reconstruction process, making a remarkable contribution to
the social-economic development of the African country.

U.S. condemns 'heavy-handed tactics' by Burundi police in clashes

http://www.reuters.com/article/2014/03/11/us-burundi-politics-usa-idUSBREA2A1UF20140311

 The United States on Tuesday condemned what it called the use of
heavy-handed tactics by Burundi's police to break up opposition party
meetings at the weekend in which more than a dozen people were injured
and several were arrested.

The State Department said police tried to break up a peaceful meeting
by the women's wing of the United for National Progress party as they
tried to mark International Women's Day. Separately, police tried to
prevent an opposition meeting at the headquarters of the Movement for
Solidarity and Democracy political party (MSD), the State Department
added.

A Sudanese student died on Tuesday after police fired tear gas at
Khartoum University protesters who have links to the Darfur region,
police said in an emailed statement.

http://www.reuters.com/article/2014/03/11/us-sudan-protests-idUSBREA2A1OE20140311

read more


The Public Procurement Administrative Review Board (PPARB) revoked the award of the Sh24.5 billion laptop purchase tender to Olive
Kenyan Economy

 


The review team, whose powers are quasi-judicial, found that Olive was
not an Original Equipment Manufacturer (OEM) - a requirement for the
award of the contract - and did not meet the requirement that the
bidders be companies with a turnover of Sh8 billion.

It also emerged that senior government officials inflated prices for
the controversial laptops tender by as much as Sh1.4 billion after the
final bids were made.

"The requests for review of the tender by the first and second
applicant (HP and Haier) are hereby allowed," the review board ruled,
even as it directed the Ministry of Education's tender committee to do
due diligence on the two petitioners according to the provisions of
the procurement act.

Conclusions

If I might make two further observations. Last week I spoke about how
execution is everything. 18th February 2004

http://www.rich.co.ke/rctools/wrapup.php?dt=MjAxNC0wMi0xOA%3D%3D#B34243

Therefore, I, for one, would be keener on having a stronger partner
implementing my overarching campaign promise than appears to be the
case.

I would point at president Obama's recent travails and insist this is
a seriously sub optimal trade.

Hardline Kenya cleric, the face of homegrown radical Islam

http://www.nation.co.ke/news/Hardline-Kenya-cleric-the-face-of-homegrown-radical-Islam/-/1056/2238968/-/wylo2kz/-/index.html

When Islamist gunmen stormed 's Westgate shopping mall on a busy
Saturday in September, the ensuing carnage also intensified fears that
Kenya's homegrown Islamists were on the rise.

Although the attackers were from Somalia's Al-Qaeda-inspired
al-shabaab rebels, the group's ability to infiltrate and operate in
Kenya, as well as find a stream of willing recruits, has focussed
attention on radical Islamists based down the coast in the Kenyan port
city of Mombasa.

At the heart of the steamy port hub sits the Musa mosque, seen by
Kenyan authorities as the epicentre of a new terrorist threat. Its key
figure, Abubaker Shariff Ahmed, better known as Makaburi, does little
to hide his firebrand leanings.

"It's our innocents for your innocents. It was justified. As per the
Koran, as per the religion of Islam, Westgate was 100 percent
justified," the Muslim cleric said of the attack that left at least 67
dead, among them women and children cut down by machine gun fire or
grenades.

"Are the ones being killed and raped in Somalia not innocent?"
Makaburi said in an interview with AFP in his austere Mombasa office,
seizing on Al-shabaab's justification for the mall attack -- Kenya's
military presence in southern Somalia.

"The KDF (Kenyan army) is doing the same thing and worse in Somalia
than what happened at Westgate. So as per the Islamic religion, they
had every right to avenge whatever the KDF is doing in Somalia."

Makaburi asserted that no real Muslims died in the upmarket,
part-Israeli-owned mall.

"How come a Muslim is at a shopping mall instead of being at a
mosque?" he said, adding that the "Americans and the Western
governments are killing innocent people all over the world everyday,
they're bombing weddings, funerals."

The real "terrorists", Makaburi argued, were the military personnel
operating drones.

"How come the pilots of the drones are not labelled as terrorists? How
come when we Muslims are being killed by the Americans using drones,
by the British, by whoever, by the West, it's nothing, but when you
have a single non-Muslim killed by a Muslim, it's terrorism?"

In August 2012, the Musa mosque's radical preacher, Aboud Rogo
Mohammed, was gunned down, and in October last year his successor,
Sheikh Ibrahim Ismail, met the same fate on a road near Mombasa, again
sparking riots. Most believe the Kenyan authorities were behind the
killings.

Last month the mosque was yet again the scene of violence when armed
police launched a massive raid to put an end to what officials said
was a "jihadist convention" and a al-shabaab recruitment exercise
taking place inside.

Makaburi, who is in his 50s, is currently subject to UN sanctions -- a
travel ban, assets freeze and targeted arms embargo -- for being a
"leading facilitator and recruiter of young Kenyan Muslims for violent
militant activity in Somalia", and for having "strong ties with senior
Al-Shabaab members."

"I do not support Al-Shabaab, I do not know Al-Shabaab. I support the
implementation of Sharia Law anywhere in the world," Makaburi insisted
in the interview.

"These are just accusations. Where is the proof that I have recruited
anybody? Who have I recruited? When, how, where? These are just
accusations."

He also said that "the highest motivator for the youth to go into
Somalia to fight Jihad is the Kenyan government doing injustice to the
Muslim youth here in Kenya. How do you think the youth feel after they
were sitting peacefully in a mosque and they were invaded, shot at,
killed, meant to disappear?"

Instead, Makaburi presents himself as a simple man promoting "true
Islam", and not the kind practiced in Saudi Arabia, which he dismisses
as "a Christian country ruled by somebody who pretends to be a
Muslim".

In his view the best examples of Islam are found in parts of Fallujah
in Iraq, Taliban-controlled Afghanistan and Shebab-held areas of
Somalia.

"Radical Islam is a creation of people who do not believe in Islam. We
don't have radical Islam, we don't have moderates, we don't have
extremists. Islam is one religion following the Koran and the Sunnah,"
said Makaburi.

But he also seems resigned to his fate as Kenya's crackdown, which has
been stepped up post-Westgate, continues: "My life is in danger. They
will eventually kill me. They do that."

Westgate 169 days ago

http://www.twitpic.com/deneco

Kenya Shilling versus The Dollar Live ForexPros

http://j.mp/5jDOot

Nairobi All Share Bloomberg +3.97% 2014

http://www.BLOOMBERG.COM/quote/NSEASI:IND

Nairobi ^NSE20 Bloomberg -0.20% 2014

http://j.mp/ajuMHJ

Every Listed Share can be interrogated here

http://www.rich.co.ke/rcdata/nsestocks.php
read more



 
 
N.S.E Today


The Nairobi All Share firmed 0.303% to close at 142.31 and on muscular
volume of 816.139m.
Nairobi All Share is +4.141% in 2014 and within striking distance and
1.56% to be exact of an All Time Closing High from the 24th of January
this Year.
The Nairobi NSE20 firmed 0.4062% to close at 4935.81.
There were 23 Winners and 20 Losers today which does not accurately
reflect what was a very constructive and bullish Session at the
Exchange today.
CIC Insurance released FY Earnings and rallied +5.303%.
CFC Standard Bank which is +31.03% in 2014 set a Life Time High.
Safaricom is all set to regain 12.00 on a closing Basis.



N.S.E Equities - Agricultural

Sasini Tea and Coffee rallied +5.202% to close at 18.20. Sasini Tea
and Coffee is +24.23% in 2014.



N.S.E Equities - Commercial & Services


Safaricom firmed 0.84% to close at 11.90 and was trading at session
Highs of 12.10 +2.54% at the close of business. Safaricom traded
3.238m shares and Buyers outstripped Sellers by a Margin of 103 versus
12, which signals the Price is set to slice through 12.00 on a closing
basis as early as tomorrow and like a Hot Knife through butter.
Safaricom is +9.677% in 2014 and all set to reset its All Time Closing
High of 12.45 set on the 24th of January this year.

Nation Media Group was the most actively traded share at the
Securities Exchange and eased 1.602% to close at 312.00. Nation Media
traded a 312.00-320.00 range and 761,000 shares [0.403% of its shares]
worth 237.829m. This was the highest Volume Session for Nation at the
NSE in 2014. Nation Media trades on a Trailing PE of 19.622 and
accelerated H1 Profit After Tax +23.989%. Nation Media will report FY
Earnings in less than 2 weeks. Nation Media has a serious regional
Franchise and had a 4.206b Cash Pile at the End of the First Half and
that will have only grown. Nation Media is -0.64% in 2014. Nation
Media was trading at 317.00 and unchanged at the Finish.



N.S.E Equities - Finance & Investment


CIC Insurance surged +5.303% to close at 6.95 and was trading at 7.05
+6.82% at the Finish Line. CIC Insurance traded 4.246m shares worth
29.593m. CIC Insurance reported FY 2013 Earnings where FY Profit after
Tax expanded +1.4285% to 1.408032b. CIC Insurance struck an optimistic
Note in its investor Briefing speaking of geographical Expansion. CIC
is set to offer a Bonus in that Ratio of one share for every 5 held.
CIC Insurance is +16.806% in 2014.
BRITAM EA improved 1.99% to close at 17.90 and traded 514,000 shares.
BRITAM EA recently released FY Earnings where FY PAT expanded +5.33%.

Bonus share of 1 for every 5 held

CFC Bank rallied +4.587% to close at a Life Time Closing High of
114.00 and traded 320,800 shares worth 36.606m. CFC Bank has rallied
an eye-popping +31.03% in 2014 and posted a sparkling set of Full Year
Earnings where FY Profit After Tax accelerated +70.343%. The Model has
Traction and my Price Objective of 120.00 set last year is now a
Shoe-In.
Equity Bank eased 0.75% to close at 33.25 and traded chunky volume of
5.27m shares worth 176.498m. Equity Bank is +8.13% in 2014 and
recently reported FY 2013 Earnings where FY PBT expanded +11.025%.
Kenya Commercial Bank firmed +1.09% to close at 46.25 and traded
1.287m shares worth 59.564m. At the Finale, There were Buyers for a
Further 2.405m shares and Sellers for 750,000 shares signalling that
Kenya Commercial Bank's +5.714% Rally since the 28th of February and
the Release of the Full Year Earnings still has further to run. Kenya
Commercial Bank reported a +17.757% Full Year Profit after Tax
Expansion.
COOP Bank firmed 0.53% to close at 18.90 and traded 1.806m shares
worth 34.206m. COOP Bank is +6.47% in 2014 and will surely issue its
FY 2013 Earnings Report imminently.



N.S.E Equities - Industrial & Allied


EABL  eased 0.76% to close at 261.00 and traded 210,300 shares. EABL
is 19.178% higher than a 52 week Closing Low of 219.00 set on the 19th
of February and after such a blistering Rally, it was expect to pause
to catch its breath. I expect a Move back towards 290.00 which would
represent unchanged for the Year.

East African Portland Cement rallied a further 3.51% to close at 88.50
and has set a Fresh 52 week High. East African Portland is +28.26% in
2014.



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