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Friday 28th of March 2014
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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.
I thank Kiprono Kittony for Lunch yesterday.
I thoroughly enjoyed Hannah's School Musical Big Momma which was about
Elephants and Poachers.
School Plays are such fun Kenton College Nairobi perform Big Momma
http://www.twitpic.com/dzjw23
The Latest Daily PodCast can be found here on the Front Page of the site
http://www.rich.co.ke |
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Dr. Richard Sezibera @rsezibera Wikipedia Africa |
Richard Sezibera (born June 5, 1964 in Kigali, Rwanda) is a Rwandan
physician, politician, diplomat and civil servant. He is the current
Secretary General of the East African Community. He was appointed to
that position by the East African Community Heads of State on 19 April
2011 for a five-year term.[1]
Sezibera received his early education in Burundi. In 1984, he entered
Makerere University Medical School in Kampala, Uganda, graduating with
the degree of Bachelor of Medicine and Bachelor of Surgery (MBChB) in
1989. Later, he obtained the degree of Master of Arts (MA) in Liberal
Studies from Georgetown University in the United States.[2]
Work experience[edit]
Following his graduation at Makerere University, he worked at Mbuya
Hospital in Kampala, Uganda, before transferring to Mbale Regional
Referral Hospital in Mbale, Eastern Uganda. Sometime prior to 1994, he
joined the Rwanda Patriotic Front (RPF), as a field medical officer.
He rose to the rank of Major within the RPF. In July 1994, Dr.
Sezibera was appointed Physician to the President of the Republic of
Rwanda. In this position, he concurrently served as military aide to
the President of Rwanda. In 1995, he became a Member of Parliament. He
was elected President of the Parliamentary Commission on Social
Affairs, which exercised oversight over the government departments
mandated to deal with issues of health. In 1999, he was appointed
Ambassador of Rwanda to the United States of America, with concurrent
accreditation to Mexico, Argentina and Brazil.[3] In 2008, Dr.
Sezibera was appointed Minister of Health in the Rwandan cabinet, a
position he held until he was appointed East African Community
Secretary General.
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“I am committed to work for the East African people, it makes me very proud and courageous,” Dr @RSezibera April 2011 Africa |
"East Africa (comprising Kenya, Tanzania, Uganda, Rwanda, and Burundi)
will be attractive, partly because it is doing more than most other
African regions to become integrated, thereby facilitating easier
cross-border activity and attracting investors" Ernst & Young (EY)
Intra-EAC trade has been rising since 2002. “Since launch of the
Customs Union, and subsequently the Common Market, intra-EAC trade has
increased from about $2 billion in 2005 to $5.5 billion in 2012,”
reads the EAC document.
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The private meeting between President Barack Obama and Pope Francis had been scheduled to run for half-an-hour. It lasted 52 minutes Law & Politics |
The president had been escorted into the Vatican by a line of Swiss
guards, dressed in purple and yellow, wearing helmets and carrying
pole arms. The cameras clicked as the president and the Pontiff shook
hands, and then they sat at a small wooden table in the Papal Library,
exchanging greetings through translators. “It’s wonderful to be here,”
Obama said. “I’m a great admirer. Thank you so much for receiving me.”
Francis answered: “Thank you.”
Turkey blocks access to @YouTube amid 'national security' concerns
http://www.theguardian.com/world/2014/mar/27/google-youtube-ban-turkey-erdogan
A man tries to get connected to the youtube web site with his
tablet at a cafe in Istanbul on Thursday. Photograph: Osman
Orsal/Reuters
http://www.theguardian.com/world/2014/mar/27/google-youtube-ban-turkey-erdogan
A leaked audio recording of a high-profile meeting of top Turkish
officials has emerged today, with the officials discussing using their
sovereignty over an Ottoman tomb as a pretext for a military invasion
of northern Syria.
http://news.antiwar.com/2014/03/27/leak-turkey-officials-talk-invasion-of-northern-syria/
A leaked audio recording of a high-profile meeting of top Turkish
officials has emerged today, with the officials discussing using their
sovereignty over an Ottoman tomb as a pretext for a military invasion
of northern Syria.
Officials did not dispute the authenticity of the audio, but rather
railed against YouTube for its publication of the leak, and against
the opposition Gulen movement, which they accused of posting it.
Foreign Minister Ahmet Davutoglu insisted the publication of the leak
amounted to a “declaration of war” against Turkey, going on to vow
“heavy punishment” against those involved.
The Tomb of Suleyman Shah is in the middle of northern Syria, but is
considered Turkish territory under the 1921 Treaty of Ankara. The
territory is now under control of al-Qaeda in Iraq (AQI), which is
demanding Turkey withdraw its troops from the tomb. The audio leak
involved officials discussing invading AQI soil, arguing they could
spin it as “defensive.”
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This Is The Ottoman Tomb That Turkish Officials Discussed Entering Syria To Defend Law & Politics |
The latest leak against the government of Turkish Prime Miniter Tayyip
Erdogan involves a high-level discussion about possible military
operations in Syria to secure the tomb of a Turkish icon.
The leak, posted to YouTube under an anonymous account, purportedly
involves Turkey's intelligence chief discussing the tomb of Suleyman
Shah, who is the grandfather of the founder of the Ottoman Empire,
with the foreign minister, the deputy chief of staff, and other
officials.
"An operation against ISIL [the radical jihadist group Islamic State
of Iraq and the Levant] has international legitimacy. We will define
it as al Qaeda. There are no issues on the al Qaeda framework," a
voice presented as that of foreign ministry undersecretary Feridun
Sinirlioglu says. "When it comes to the Suleyman Shah tomb, it's about
the protection of national soil."
The tomb of Suleyman Shah is sovereign territory of Turkey under a
treaty signed with France in 1921 while Syria was still under colonial
rule. Turkey maintains a force of two dozen special forces soldiers at
the tomb to permanently guard it. ISIL and other rebels groups
fighting Assad have clashed near the tomb.
Erdogan confirmed the leak: "They even leaked a national security
meeting," he told a crowd of supporters. "This is villainous, this is
dishonesty (...) Who are you serving by doing audio surveillance of
such an important meeting?"
Turkey has blocked access to YouTube in an attempt to stop the video
from being disseminated. This block follows a week after the Turkish
government blocked Twitter in a similar desperate bid to limit the
reach of other damaging leaked recordings.
When asked about justification for an incursion into Syria,
intelligence chief Hakan Fidan allegedly responded: "Justification can
be created. The matter is to create the will."
Ironically, over the last three years Ankara has allowed al
Qaeda-linked jihadists and weapons to flow into Syria as a way to
influence the country's civil war.
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The separatist card that Russia has been playing in Crimea could trigger unease in China Law & Politics |
The separatist card that Russia has been playing in Crimea could
trigger unease in China, whose rulers consider the breakaway feelings
going through the Chinese autonomous regions of Tibet and Xinjiang as
the most dangerous challenge to the country's internal stability and
security. Not to mention the prospect that Taiwan, a rebel province in
Beijing's view, holds a referendum on (de jure) independence from the
mainland in the future.
"I call it the Madman Theory," Haldeman recalled the president telling him.
http://www.foreignpolicy.com/articles/2014/03/25/madman_in_white_house_nixon_russia_obama
"I call it the Madman Theory," Haldeman recalled the president
telling him. "I want the North Vietnamese to believe I've reached the
point where I might do anything to stop the war. We'll just slip the
word to them that, ‘for God's sake, you know Nixon is obsessed about
communism. We can't restrain him when he's angry -- and he has his
hand on the nuclear button,' and Ho Chi Minh himself will be in Paris
in two days begging for peace."
@RencapMan Putin approval up from 61% in Jan to 82% - mostly due to
Crimea - Obama at 44%
pic.twitter.com/h6rzGCnl1r
#Readyfortakeoff Conference, Charlie Robertson @Rencapman [The Fastest
Billion] @YouTube
https://www.youtube.com/watch?v=bnDFQB3IFwI
@SaeedKD Hamid Karzai welcomes Iran's president @HassanRouhani in Kabul
https://twitter.com/Rouhani_ir/status/449147837767356416/photo/1
Search for Jet Shifts as Lead Indicates Shorter Path
http://www.bloomberg.com/news/2014-03-28/jet-search-resuming-by-air-after-objects-seen-from-space.html
The three-week hunt for Malaysian Air Flight 370 focused on a new area
in the Indian Ocean today after radar data indicated the plane
probably flew a shorter distance than earlier estimated.
The new lead was based on analysis of radar data as the plane flew
between the South China Sea and the Malacca Strait, the Australian
Maritime Safety Authority said in a statement. It showed the Boeing
Co. 777-200ER traveled faster than previously estimated, using more
fuel, and may not have gone as far south as earlier thought.
Conclusions
"No matter how the official narrative of this turns out," it seemed to
Heidi, "these are the places we should be looking, not in newspapers
or television but at the margins, graffiti, uncontrolled utterances,
bad dreamers who sleep in public and scream in their sleep."
---Thomas Pynchon, Bleeding Edge
Thomas Pynchon Bleeding Edge
http://i.azcentral.com/i/5/0/1/L169_CIFRb5654ea5ebe60c23b2486bdb47778105.jpg
We can now monitor entire ecosystems -- think of the Amazon rainforest
-- in nearly real time, using remote sensors to map their
three-dimensional structures; satellite communications to follow
elusive creatures, such as the jaguar and the puma; and smartphones to
report illegal logging.
http://www.foreignaffairs.com/articles/140748/jon-hoekstra/networking-nature?nocache=1
Are Fox News, CNN and MSNBC Losing the “Information War”?
http://www.globalresearch.ca/mainstream-media-decline-are-fox-news-cnn-and-msnbc-losing-the-information-war/5375493
Hillary Clinton’s 2011 warning that the United States was losing the
“information war,” has never been more prescient.
Conclusions
The Tone is too strident and singular and is essentially not
progressing the US View in a more diffuse c21st World.
Hillary Clinton
http://www.politicspa.com/wp-content/uploads/2014/02/Hillary-Rodham-Clinton.jpeg
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Tomgram: Nick Turse, America's Non-Stop Ops in Africa Africa |
After years in the shadows, U.S. Navy SEALs emerged in a big way with
the 2011 night raid that killed Osama bin Laden. Afterward, they were
lauded in print as supermen, feted by the president, and praised by
the first lady. Soon, some of the country’s most secretive and elite
special operators were taking the big screen by storm with 2012’s
blockbuster Zero Dark Thirty and a film starring actual Navy Seals,
Act of Valor.
Last year, yet another Hollywood smash, Captain Phillips, featured
heroic SEALs. This time, the elite mariners weren’t slipping into a
compound in Pakistan or on some crazy global quest, but killing
pirates off the coast of Africa. The location was telling.
In recent years, as stories of SEAL exploits have bubbled up into the
news, the operations of America’s secret military have been on an
exponential growth spurt (with yet more funding promised in future
Pentagon budgets) -- and a major focus of their activities has been
Africa. In 2012, for example, SEALs carried out a hostage rescue
mission in Somalia. Last fall, word of a SEAL mission in that country
hit the news after a bid to kidnap a terror suspect went south, and
the Americans were driven off under heavy fire. (That same night,
Army Delta Force commandos successfully captured a Libyan militant in
a night raid.) A few months later, three of four SEALs conducting an
evacuation mission in South Sudan were wounded when the aircraft they
were flying in was hit by small arms fire. And just recently, SEALs
were again in the news, this time for capturing an oil tanker with
cargo from Libya that the weak U.S.-backed government there considered
stolen.
By all accounts, SEAL missions in Africa are on the rise, and the
Navy’s special operators are far from alone.
Last year, according AFRICOM commander General David Rodriguez, the
U.S. military carried out a total of 546 “activities” on the continent
-- a catch-all term for everything the military does in Africa. In
other words, it averages about one and a half missions a day. This
represents a 217% increase in operations, programs, and exercises
since the command was established in 2008.
Since its inception, U.S. Africa Command has consistently downplayed
its role on the continent. Meanwhile, far from the press or the
public, the officers running its secret operations have privately been
calling Africa “the battlefield of tomorrow, today.”
After years in the dark, we now know just how “extremely active” -- to
use General David Rodriguez’s phrase -- AFRICOM has been and how
rapidly the tempo of its missions has increased. It remains to be
seen just what else we don't know about U.S. Africa Command’s
exponentially expanding operations.
Conclusions
http://www.rich.co.ke/rctools/wrapup.php?dt=MjAxMy0wOS0wNg%3D%3D#B31965
Taking a broader Sweep, it is clear that the United States and
@USAfricaCommand has carved out a much more forward Position on the
African Continent. In some respects, @BarackObama 's Pivot to Asia
detours through Africa. China has made a Parabolic Advance across the
African Continent and one of the 'desired' Side Effects of staunching
the 'Al-Qaeda' Advance is that it also counters the Chinese Advance
via The Insertion of US Hard Power. The US cannot challenge China's
Extreme Dollar Diplomacy but it can insert Hard Power with which it
can tilt the African Pitch.
Now returning to Africa and although @USAfricaCommand was set up under
a Previous President's Watch, I think the Penny dropped [re China's
extraordinary Surge in Africa] only quite recently or in the last 24
months.
Zbigniew Brzezinski [whom I admire and I believe is a Foreign Policy
Eminence Grise and has @BarackObama's Ear] once said that '' the three
grand imperatives of imperial geostrategy are to prevent collusion and
maintain security dependence among the vassals, to keep tributaries
pliant and protected, and to keep the barbarians from coming
together."
I think the interesting Point is how Africa has now become Front and
Centre of the Geopolitical Global Puzzle and the Collision between US
Hard Power and China's Soft Power
A Sine qua non of President Barack Obama's pivot to Asia is US/NATO
Power Projection over the Indian Ocean. 19-AUG-2013 @UKenyatta
rebalances towards China
http://www.rich.co.ke/media/docs/036NSX1908.pdf
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If China sneezes, Africa can catch a cold World Bank Africa |
Overall, sub-Saharan Africa has maintained a slight trade deficit with
China, with fewer than half of the African countries having a trade
surplus with China. In addition, China’s trade with sub-Saharan Africa
is highly concentrated in a few economies. Five countries—Angola,
South Africa, the Democratic Republic of the Congo, the Republic of
Congo, and Equatorial Guinea—account for about 75 percent of the
subcontinent’s exports to China.
Sub-Saharan selfie ... Hook tried to track down five women from
the semi-nomadic Samburu tribe he met in the mid-80s. Photograph:
Harry Hook
http://www.theguardian.com/artanddesign/photography-blog/2014/mar/07/photographing-africa-harry-hook-kenya-bbc4-documentary
South Africa All Share Bloomberg +3.42% 2014
http://www.bloomberg.com/quote/JALSH:IND
Dollar versus Rand 3 Month Chart INO 10.623 [testing top side
Range Resistance Levels]
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 6.9663
http://quotes.ino.com/charting/index.html?s=FOREX_USDEGP&v=d3&t=c&a=50&w=1
Egypt EGX30 Bloomberg +22.50% 2014
http://www.bloomberg.com/quote/CASE:IND
8,251.83 -228.69 -2.70%
Nigeria All Share Bloomberg -6.52% [Dangote Cement has held up this index]
http://www.bloomberg.com/quote/NGSEINDX:IND
Dangote Cement has gained 51 percent in a year, compared with a 13
percent gain on the 193-member Nigerian Stock Exchange All-Share
Index.
http://www.bloomberg.com/news/2014-03-26/dangote-cement-profit-gains-39-as-nigeria-sales-rise-1-.html
Dangote Cement Plc (DANGCEM), Nigeria’s largest company and the
continent’s biggest producer of the building material, said full-year
profit gained 39 percent as sales in the local market surged.
Net income for the year through December rose to 201.9 billion naira
($1.2 billion) from 145.1 billion naira a year earlier, the
Lagos-based company said in a statement today. Revenue rose 29 percent
to 386.2 billion naira, while sales in Nigeria increased 28 percent to
13.3 million metric tons.
The company, controlled by billionaire Chairman Aliko Dangote, has
production capacity of 20.3 million tons across three Nigerian plants.
It plans to expand into 13 other nations on the continent, bringing
total capacity to more than 60 million tons by 2016.
“As the Nigerian cement market grew by a strong 15.6 percent, we
managed even better growth,” Chief Executive Officer Devakumar Edwin
said in the statement. “We increased our margins despite continuing
disruption to our gas supply.” Nigeria’s economy has expanded 6
percent a year since 2006, according to the World Bank.
Dangote Cement will invest about $1 billion on plant expansion this
year, Edwin said at an investor conference in Lagos today. The company
plans to complete building work on the Ibese and Obajana plants as
well as projects in Zambia, Senegal and Cameroon from 2014 to 2016, he
said.
The company said it would more than double its dividend to 7 naira a
share, compared with 3 naira the previous year. The stock closed
unchanged today in Lagos at 230 naira. Dangote Cement has gained 51
percent in a year, compared with a 13 percent gain on the 193-member
Nigerian Stock Exchange All-Share Index.
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Moody’s: Kenya budget deficit won’t fall Kenyan Economy |
Moody’s believes that Kenya is unlikely to reduce its budget deficit
in the short term because of huge spending on wages and devolution.
Moody’s says that the deficit will remain at about nine per cent of
the gross domestic product even with the recent reforms in Value Added
Tax (VAT).
The nine per cent is well above the East African Community monetary
union recommendation of six per cent.
“The government’s projections regarding the impact of the VAT increase
may also prove overly optimistic, which would leave the deficit at
about the expected level of nine per cent of GDP,” said the Moody’s
report.
The report, titled Credit Analysis: Government of Kenya, says the
country has B1 rating with a stable outlook, citing improving
institutions and economic outlook.
But it also notes several vulnerabilities such as the fiscal and
current account deficits. The Treasury expects the spending-to-GDP
ratio to decline thereby narrowing the budget deficit, but Moody’s
says it is actually bound to rise.
“We think it is more likely that the spending ratio will continue to
rise towards 35 per cent of GDP in 2014/15 and that it will remain
sticky at those levels given the pressures emanating from the public
sector wages and potential for spending overruns related to the
decentralisation of government.”
Spending on transport infrastructure would also put pressure on the
deficit. “As a consequence, the deficit is not likely to narrow as
much as predicted in the MTEF; rather, we expect the deficit to stay
at around nine per cent of GDP again,” says Moody’s.
Moody’s says this is a rationale for the sovereign bond but cushions
that capacity constraints could see the government service a debt that
is not put to good use.
“The government has embarked on an ambitious and costly effort to
expand the transport network… for which the government intends to
issue its first Eurobond in the near future.
However, we expect that the government lacks capacity to raise
investment spending as much as it has been predicting,” says Moody’s.
The State could meet the 70:30 ratio of recurrent spending to
development spending, using such methods as limiting transfers to
state-owned enterprises and agencies and downsizing staff levels, says
Moody’s.
In a memo on the Division of Revenue Bill 2014/15, the Institute of
Economic Affairs said the wage bill was a major factor in the high
expenditures. It asked Parliament to interrogate the hiring of staff
by the national government for functions that have been devolved.
“The burgeoning wage bill, at about 13 per cent of GDP in 2013 against
a target of eight per cent is a case for concern. Parliament needs to
interrogate the case where the national government is busy hiring
staff for functions already transferred to the county, hence
duplication of effort,” said the IEA memo.
Its a Flat world when @AJELive is broadcasting @UKenyatta Speech #Kenya
http://www.twitpic.com/dzikuv
President Uhuru Kenyatta's State of the Nation Address
http://www.scribd.com/doc/214834341/President-Uhuru-Kenyatta-s-State-of-the-Nation-Address
Half a century after ourindependence, we live by the ideals of our
founding fathers" 'e will not beintimidated threats to our
sovereignty will be met with our full might"
$s we learned last year, insecurity anywhere in our region is a
promise of insecurity everywhere" -f we do not help our neighbours to
achieve the peace,freedom and prosperity they deserve, then our own
freedom and prosperity is threatened
Conclusions
Social Media was entirely underwhelmed. A great deal of Good-will has
been eroded. I, for one, think The President should have chopped some
Heads a long time ago just to have asserted his Authority.
GHAFLA EXCLUSIVE: Kiss 100 And Classic FM Sold. Find Out All The
Secret Details Of The Deal Here
http://www.ghafla.co.ke/news/music/item/17109-ghafla-exclusive-kiss-100-and-classic-fm-sold-find-out-all-the-secret-details-of-the-deal-here
My sources at Radio Africa, the parent company of Kiss 100, Classic
FM, Radio Jambo and East FM and the social media consultancy company
Trinc Media and the newspaper The Star has been purchased by an as yet
shadowy South African consortium. This information was given to me by
someone very close to the deal but she did so on the condition of
anonymity.
The consortium which is rumored to have interests in diamond mining
(this is still an unconfirmed rumour as I have been unable to reach
any of the upper echelon management at Radio Africa) has bought a
reported 41 percent of the entire conglomerate that is Radio Africa.
Conclusions
49% sold I do believe.
KenGen’s cash call on hold pending beef-up talks
http://www.nation.co.ke/business/KenGen-cash-call-on-hold-pending-beef-up-talks/-/996/2259980/-/ulogw8/-/index.html
The Kenya Electricity Generating Company’s has postponed its planned
rights issue awaiting a decision by the government on whether it will
inject cash or convert outstanding debt into equity.
Company chief executive Albert Mugo on Thursday said the cash call,
which was scheduled for June, has been pushed to August to give more
time to the firm’s discussion with the government.
“The target was to carry out the rights issue in June but discussions
with the government are still ongoing’ and we can only give the way
forward once we conclude the talks,” said Mr Mugo.
According to electricity generator’s finance and commercial director
John Mudany, the company owes Sh22 billion to the government.
It is seeking to raise Sh30 billion through its first rights issue out
of which Sh15 billion is expected to come from the government which
owns 70 per cent stake. The rest will come from other shareholders.
The officials spoke on the sidelines of a meeting between the company
and investment analysts in Nairobi.
Proceeds of the rights issue and Sh70 billion to be raised from
international financiers, will go towards funding energy expansion
programmes.
KenGen share price data here -14.3911% 2014
http://www.rich.co.ke/rcdata/company.php?i=Mzc%3D
Par Value: 2.50/-
Closing Price: 11.60
Total Shares Issued: 2198361344.00
Market Capitalization: 25,500,991,590
EPS: 2.39
PE: 4.854
H1 through 31st December 2013 versus H1 through December 2012
H1 Electricity Revenue 8.483b versus 8.432b
H1 Operating Expenses [5.695b] versus [5.144b]
H1 Operating Profit 3.221b versus 3.995b
H1 Finance Costs [1.385b] versus [1.566b]
H1 PBT 1.836b versus 2.429b -24.413%
H1 PAT 1.018b versus 1.659b -38.63%
H1 EPS 0.46 versus 0.75 -38.66%
Conclusions
The Trough in Earnings might last for up to 24-36 months as KenGen
bulks up big. The Share price remains under near term pressure
[-19.557% in 2014] ahead of a supersized Rights Issue.
Kenya Shilling versus The Dollar Live ForexPros
http://j.mp/5jDOot
Nairobi All Share Bloomberg +5.7811% 2014
http://www.BLOOMBERG.COM/quote/NSEASI:IND
Nairobi ^NSE20 Bloomberg +0.81% 2014
http://j.mp/ajuMHJ
Every Listed Share can be interrogated here
http://www.rich.co.ke/rcdata/nsestocks.php
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