home | rich profile | rich freebies | rich tools | rich data | online shop | my account | register |
  rich wrap-ups | **richLIVE** | richPodcasts | richRadio | richTV  | richInterviews  | richCNBC  | 
Satchu's Rich Wrap-Up
Tuesday 26th of August 2014

Register and its all Free.

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

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

read more

“The markets are never wrong,” President @PaulKagame said

THE markets are never wrong,” President @PaulKagame said in an
interview in Washington on August 5 at the #USAfricaSummit.

There was no sharper signal delivered in Washington than those five
words that President Kagame uttered.

Picking up the signal through the noise of our world in 2014 is no easy thing.

In fact, my view is the new normal is a very arrhythmic world. When I
plugged ‘’arrhythmia’’ into my computer, it threw up this;

‘’For years he’d been studying the phenomenon of chaos, of which an
arrhythmic heartbeat was a perfect example’’

His excellency Johan Borgstam told me the signal announcing this new
arrhythmic normal was the disappearance of the MH370.

I look forward to hosting @Dennis_Makori CEO ONFON Media at #Mindspeak
on the 30th of August

read more

#Mindspeak 2014 RICH TV

In 2014, #Mindspeak has hosted Christine @Lagarde @IMFNews, Dr. Titus
Naikuni @KenyaAirways, Charles Ireland EABL @TuskerLager, EAC SG Dr.
@rsezibera, Munir Ahmed National Bank Joshua Oigara @KCBGroup.

read more

You can only trust the numbers

“He smiled understandingly-much more than understandingly. It was one
of those rare smiles with a quality of eternal reassurance in it, that
you may come across four or five times in life. It faced--or seemed to
face--the whole eternal world for an instant, and then concentrated on
you with an irresistible prejudice in your favor. It understood you
just as far as you wanted to be understood, believed in you as you
would like to believe in yourself, and assured you that it had
precisely the impression of you that, at your best, you hoped to
― F. Scott Fitzgerald, The Great Gatsby

“In his blue gardens men and girls came and went like moths among the
whisperings and the champagne and the stars.”
― F. Scott Fitzgerald, The Great Gatsby

“And as I sat there brooding on the old, unknown world, I thought of
Gatsby’s wonder when he first picked out the green light at the end of
Daisy’s dock. He had come a long way to this blue lawn, and his dream
must have seemed so close that he could hardly fail to grasp it. He
did not know that it was already behind him, somewhere back in that
vast obscurity beyond the city, where the dark fields of the republic
rolled on under the night.

Gatsby believed in the green light, the orgastic future that year by
year recedes before us. It eluded us then, but that's no
matter—to-morrow we will run faster, stretch out our arms farther. . .
. And one fine morning——

So we beat on, boats against the current, borne back ceaselessly into
the past.”
― F. Scott Fitzgerald, The Great Gatsby

read more

But, as PRC strength waxes and the US government sees its window of opportunity for effective rollback inexorably closing in the South China Sea, I think something will happen sooner rather than later.
Law & Politics

02-DEC-2013 The Pivot to Asia bares its Fangs


The US probably feels it holds a decisive hard power advantage at this
moment and given that the trajectory is one of gradual erosion of that
decisive advantage leads me to the view that this pivot to Asia has a
logic and momentum of its own. Therefore, I see the US being
increasingly determined to press its advantage.

A B-52 Stratofortress from Minot Air Force Base, N.D., flies over
the Pacific Ocean


Islamic State Militants Seize Air Base in Syria, Group Says


Islamic State militants seized a Syrian air base, dislodging forces
loyal to President Bashar al-Assad from their last stronghold in the
northeastern Raqqa province.

The al-Qaeda breakaway group, which is also fighting government forces
in Iraq, stormed the Tabaqa air base after battles that began last
week, said the Syrian Observatory for Human Rights, which monitors the
daily developments of the civil war. The government moved its aircraft
to other bases, it said.

With the capture of the air base, Raqqa becomes the first province
fully outside Assad’s control, further cementing the Islamic State’s
hold inside its self-declared state, and allowing it to focus on the
neighboring Aleppo province. The group, previously known as ISIS, has
already seized villages and towns held by other rebels in Aleppo.

 The embattled Syrian government sought to break its isolation,
offering to cooperate with any U.S. airstrikes against Islamic State
militants inside Syria, according to Foreign Minister Walid

Any strike without coordination would be an act of aggression, and the
Syrian government is ready to cooperate regionally and with the U.S.
and U.K., he said.

The airport’s capture was “a hard blow to the Syrian government,”
Fawaz Gerges, professor of Middle East politics at the London School
of Economics and Political Science, said by phone today. “It increases
the pressure on the regime tremendously” at a time when the Syrian
army is overextended as it fights fierce battles on several fronts, he

 The Syrian offer came after Ben Rhodes, the deputy White House
national security adviser, said Aug. 22 that the U.S. will consider
airstrikes in Syria to combat Islamic State, which beheaded American
journalist James Foley earlier this month. The group said Foley’s
execution was in retaliation for U.S. strikes, which have helped
Kurdish and Iraqi forces to regain some territory.

read more

.@BarackObama 'authorises spy flights over Syria' @AJEnglish
Law & Politics

US officials, according to Reuters, have said privately that
Washington has no plans to seek consent from the Damascus regime for
any military flights.

The Syrian government on Monday warned that Syria must be involved in
co-ordinating any air strikes against the Islamic State group in

In a news conference in Damascus, Foreign Minister Walid al- Muallem
said his country was ready to work with the international community-
including its rivals, the US and UK, -  to battle against

"Syria is ready for co-operation and co-ordination at the regional and
international level to fight terrorism and implement UN Security
Council resolution 2170," Muallem said.

read more

Maneuver Warfare Doctrine
Law & Politics

According to the United States Marine Corps, one key concept of
maneuver warfare is that maneuver is traditionally thought of as a
spatial concept, that is, the use of maneuver to gain positional
advantage. The U.S. Marine concept of maneuver however is a
"warfighting philosophy that seeks to shatter the enemy’s cohesion
through a variety of rapid, focused, and unexpected actions which
create a turbulent and rapidly deteriorating situation with which the
enemy cannot cope."[4]

The U.S. Marine manual goes on to say:

"This is not to imply that firepower is unimportant. On the contrary,
firepower is central to maneuver warfare. Nor do we mean to imply that
we will pass up the opportunity to physically destroy the enemy. We
will concentrate fires and forces at decisive points to destroy enemy
elements when the opportunity presents itself and when it fits our
larger purposes."

read more

Reports: ISIS Beheading Suspect is 23-Year-Old Rapper from London
Law & Politics

The ISIS terrorist who horrified the world by beheading American
journalist James Foley in an online video has been tentatively
identified by British intelligence:

The British security services MI5 and MI6 have identified the British
member of the Islamic State jihadist organization who is suspected of
murdering American journalist James Foley, according to the
London-based Sunday Times newspaper. The newspaper attributed the
information to "senior government sources." The Sunday Times did not
name the killer, saying that its sources "gave no details of the man
they have identified," though it did give the name of a person it
described as a "key suspect" – hip-hop artist Abdel-Majed Abdel Bary.
According to the newspaper, Bary, 23, left his family's home in an
upmarket London suburb last year. It says he recently tweeted a
picture of himself holding up a severed head. The gruesome video of
Foley's beheading, which was released last week, featured a man with a
London accent. The newspaper said that Bary is known to fellow
fighters as “Jihadi John.”

Correspondent Jennifer Griffin reported on Fox News Sunday that
'Jihadi John' was active in London's rap scene before traveling to
Syria last year to take up arms on behalf of ISIS.  He also has family
ties to Islamist terrorism:

According to The Independent, Bary used the pseudonyms “L Jinny” or
“Lyricist Jinn” when he was involved in the London rap scene. Bary’s
father, Adel Abdul Bary, was believed to be a close associate of Osama
bin Laden and was extradited from the UK to the US in 2012 for his
alleged involvement in the 1998 U.S. embassy bombings in east Africa.

Here's what makes these details so disquieting: Many people probably
envision ISIS terrorists as young, under-educated men from the Arab
world who've been poisoned since birth with lies about the West.
Unrelatable people from far off places.  But Bary is a British
citizen.  He lived in an "upmarket" London neighborhood.  He wasn't
unacquainted with what free societies have to offer; to the contrary,
he was immersed in his city's music scene.  One day he's trying to
forge a career as a rap artist; the next, he is on a plane to Syria,
hoping to join the planet's most bloodthirsty radical fighting force.
A year later, he's beheading an innocent American journalist on

read more

And then of course, the beheading of James Foley by a jihadist with a British accent went viral.
Law & Politics

There was a spookiness about the British accent which spoke to
centuries of received history

Jinn or djinn (singular: jinnī, djinni, or genie; Arabic: الجن‎
al-jinn, singular الجني al-jinnī) are supernatural creatures in
Islamic mythology


They are mentioned frequently in the Quran (the 72nd sura is titled
Sūrat al-Jinn) and other Islamic texts and inhabit an unseen world in
dimensions beyond the visible universe of humans. The Quran says that
the jinn are made of a smokeless and "scorching fire",[1] but are also
physical in nature, being able to interfere physically with people and
objects and likewise be acted upon.

In Islamic theology jinn are said to be creatures with free will, made
from smokeless fire by Allah as humans were made of clay, among other
things.[6] According to the Quran, jinn have free will, and Iblīs
abused this freedom in front of Allah by refusing to bow to Adam when
Allah ordered angels and jinn to do so. For disobeying Allah, Iblīs
was expelled from Paradise and called "Shayṭān" (Satan). Jinn are
frequently mentioned in the Quran: Surah 72 (named Sūrat al-Jinn) is
named after the jinn, and has a passage about them. Another surah
(Sūrat al-Nās) mentions jinn in the last verse.[7] The Qurʾan also
mentions that Muhammad was sent as a prophet to both "humanity and the
jinn", and that prophets and messengers were sent to both

They are usually invisible to humans, but humans do appear clearly to
jinn, as they can possess them. Jinn have the power to travel large
distances at extreme speeds and are thought to live in remote areas,
mountains, seas, trees, and the air, in their own communities. Like
humans, jinn will also be judged on the Day of Judgment and will be
sent to Paradise or Hell according to their deeds.[10]

Arab Nations Strike in Libya, Surprising U.S. @nytimes


CAIRO — Twice in the last seven days, Egypt and the United Arab
Emirates have secretly launched airstrikes against Islamist-allied
militias battling for control of Tripoli, Libya, four senior American
officials said, in a major escalation of a regional power struggle set
off by Arab Spring revolts.

The United States, the officials said, was caught by surprise: Egypt
and the Emirates, both close allies and military partners, acted
without informing Washington, leaving the Obama administration on the
sidelines. Egyptian officials explicitly denied to American diplomats
that their military played any role in the operation, the officials
said, in what appeared a new blow to already strained relations
between Washington and Cairo.

Arrayed against them and backing the Islamists are the rival states of
Turkey and Qatar.

American officials said the Egyptians and the Emiratis had teamed up
against an Islamist target inside Libya at least once before. In
recent months, the officials said, teams of “special forces” operating
out of Egypt but possibly composed primarily of Emiratis had also
successfully destroyed an Islamist camp near the eastern Libyan city
of Derna, an extremist stronghold.

Several officials said in recent days that United States diplomats
were fuming about the airstrikes, believing the intervention could
further inflame the Libyan conflict as the United Nations and Western
powers are seeking to broker a peaceful resolution. Officials said the
government of Qatar has already provided weapons and support to the
Islamist-aligned forces inside Libya, so the new strikes represent a
shift from a battle of proxies to direct involvement. It could also
set off an arms race.

“We don’t see this as constructive at all,” said one senior American official.

Egypt's Sisi says Qatar and Turkey are spending millions to spread
chaos in Arab lands


Egyptian President Abdel Fattah al-Sisi accused Qatar and Turkey and
the international organization of the Muslim Brotherhood of spending
millions of dollars to spread chaos in the Arab world.

“Qatar, Turkey and the international organization of the Brotherhood
are currently establishing many companies, newspapers and websites,”
Sisi said on Sunday at a meeting with newspaper chief editors, the
Egypt Independent reported.

“They allocated hundreds of millions of dollars to spread chaos among
the Arab nation, destabilizing Egypt and destroying the Egyptians,” he

read more

A passenger terminal at Tripoli International Airport on Sunday Reuters
Law & Politics

Gaddafi's Body in a Freezer - What's the Message? 24th October 2011


The raw feed of the capture and then death of the Libyan dictator
Muammar Gaddafi and his son Mo’tassim Gaddafi raise plenty of
questions. The bodies are currently lying side by side, bloodied and
half-naked on a filthy mattress in a meat locker, in Misrata.

I am left thinking, this dead Gaddafi business is one powerful
message. And today Marshall McLuhan’s prediction in The Gutenberg
Galaxy (1962) that ‘The new electronic interdependence recreates the
world in the image of a global village’ has come to pass. The image of
a bloodied Gaddafi, then of a dead Gaddafi in a meat locker have
flashed around the world via the mobile, YouTube and Twitter.

Who is in charge of the messaging? Through the fog of real time and
raw footage, I note a very powerful message. The essence of that
message being;

‘Don’t Fxxk with us! Because you will end up dead and a trophy
souvenir in a fridge.’


I cannot help feeling that its as elementary as that

‘Don’t Fxxk with us! Because you will end up dead and a trophy
souvenir in a fridge.’

If You look at Libya Post Gaddafi If You look at Iraq Post Saddam.

Muammar Gaddafi


Phone footage off the internet shows former Iraqi president Saddam
Hussein with a noose around his neck prior to his execution in Baghdad
Dec. 30, 2006.


Marshall McLuhan


read more

"I declare an Ebola epidemic in the region of Djera, in the territory of Boende in the province of Equateur," Numbi said
Law & Politics

A total of 2,615 Ebola infections and 1,427 deaths have been recorded
in the outbreak now hitting West Africa, according to figures released
on Friday by the WHO.

read more

Currency Markets at a Glance WSJ
World Currencies

Euro 1.3203
Dollar Index 82.48
Japan Yen 103.86 The yen rose, set for the first gain in seven trading
sessions touched 104.49 yesterday, the weakest since Jan. 23.
Swiss Franc 0.9144
Pound 1.6592
Aussie 0.9295
India Rupee 60.511
South Korea Won 1017.34
Brazil Real 2.2860
Egypt Pound 7.1508
South Africa Rand 10.7018

The yen has weakened 0.8 percent in the past month, according to
Bloomberg Correlation-Weighted Indexes that track 10 developed-nation
currencies. The euro has fallen 0.5 percent. The dollar has advanced
1.4 percent, the best performer after the Norwegian krone

read more

Dollar Index 3 Month Chart INO 82.48 [The Dollar might soar]
World Currencies

A gauge of the dollar against 10 leading global currencies climbed to
a six-month high

The Bloomberg Dollar Spot Index, which tracks the U.S. currency
against 10 major counterparts, climbed to as high as 1,031.86, a level
unseen since Feb. 3.

read more

History’s message to currency investors is buy the dollar six to nine months before the Federal Reserve starts raising interest rates.
World Currencies

The CHART OF THE DAY shows the U.S. Dollar Index climbed about 7
percent during periods six to nine months before the start of the
previous three central-bank tightenings started in February 1994, June
1999, and June 2004. The greenback appreciation tends to fizzle and
the performances became mixed after the first actual increase in the
Fed’s target for the federal funds rate.

Euro versus the Dollar 3 Month Chart 1.3203


Draghi said last week investor bets on euro-area inflation “exhibited
significant declines at all horizons” in August. Policy makers “will
use all the available instruments needed to ensure price stability
over the medium term,” he said in a speech at a conference in Jackson
Hole, Wyoming.

Killen sees the single currency falling below $1.30 in coming weeks,
and said that technical indicators could signal a further slide to
$1.275 after that.


Investors look for more gains as U.S. S&P 500 index hits 2,000 milestone


S&P500, DJIA and Nasdaq 5 year Chart @YahooFinance


read more

Chinese President Xi Jinping, left, walks with Zimbabwe's President Robert Mugabe during a welcome ceremony outside the Great Hall of the People in Beijing, China Photo: AP

Their meeting featured on China's main 7pm news bulletin, which showed
Mr Xi calling Mr Mugabe a "renowned leader of the African national
liberation movement" and "an old friend of the Chinese people whom we
respect very much".

Mr Xi said: "The traditional friendship between China and Zimbabwe was
forged in the glorious years when we stood shoulder to shoulder
against imperialism, colonialism and hegemony."

"The Chinese people value friendship and we will never forget those
good friends and good brothers who have shown mutual understanding and
support vis-a-vis China and who have come through thick and thin with
us," he added.

Martyn Davies, the chief executive of Frontier Advisory, a South
African research house, told Bloomberg that Mr Mugabe was seeking "a
last financial lifeline for his regime" but that he would be "naive to
assume that Chinese capital is as easy to get as it has been in
previous years".

Nevertheless, Mr Mugabe's political value to China was boosted by his
election as head of the 15-country Southern African Development
Community (SADC). He is also in line to lead the 54-nation African
Union from next year.

China invested over £360 million in Zimbabwe in 2013 and has granted
over £600 million in loans. "China is ready to work hand-in-hand with
Zimbabwe to life our bilateral relations to a new high," wrote Lin
Lin, the Chinese ambassador in an editorial last week.

Foreign investment into Zimbabwe plunged 59 percent to $67 million in
the first half of this year, the central bank said on Monday,


Official data show China has extended $1 billion in loans to Zimbabwe
since 2009 and trade between the two nations rose to $1 billion last
year from $300 million five years ago.

Announcing the drop in foreign direct investment, Reserve Bank of
Zimbabwe governor John Mangudya said exports, mostly minerals and
tobacco, were also down 13 percent in the first half of the year, to
$1.3 billion, compared with the first six months of 2013.

Mangudya said in order to ease the dollar crunch in the economy, banks
would now be required to keep only five percent of their foreign
currency offshore, down from 30 percent.

The Reserve Bank of Zimbabwe created a company that will buy
non-performing debt from banks.


The Zimbabwe Asset Management Corp. will purchase the loans under
commercial terms, and assign collateral and all other rights, the
central bank said in its monetary policy statement yesterday.

The company will seek “to clean up and strengthen banks’ balance
sheets and provide them with the liquidity to fund valuable projects
for the economy to rebound and to mitigate loss of confidence,” the
bank said.

Non-performing loans at Zimbabwean banks swelled to 18.5 percent of
total loans, or $705 million, in June from 1.6 percent in 2009, the
central bank said. The high level of bad debt is the key threat to the
country’s banking industry, Harare-based IH Securities said in May.

The company will finance the purchases through “a combination of
non-funded lines of credit, new inflows, long-term bonds and treasury
bills,” the central bank said.

South Sudan rivals sign new ceasefire deal


South Sudan's warring leaders have signed a fresh ceasefire deal
vowing to end more than eight months of conflict, according to
mediators who threatened sanctions should the agreement fail once

East Africa's regional IGAD bloc, which mediated the talks between
President Salva Kiir and his sacked deputy Riek Machar, called on the
leaders to forge a unity government within 45 days.

Thousands of people have been killed and more than 1.8 million have
fled civil war sparked by a power struggle between Kiir and Machar,
who met on Monday for the first time in more than two months.

An IGAD communique welcomed the "signature by the warring parties" to
the deal, "which obliges the parties to bring the conflict to an end".

Three previous ceasefire commitments have been broken within hours.

"As a region, we have to show any party which violates agreements that
there are consequences to misbehaviour," Ethiopian Prime Minister
Hailemariam Desalegn said at the summit of east African leaders, the
AFP news agency reported.

"We are sending a clear message to the leaders of South Sudan. So
delaying in the procedure will not be acceptable - if not the region
will take action."

read more

South Africa All Share Bloomberg +11.006% 2014

51,437.58 +240.42 +0.47%

Dollar versus Rand 3 Month Chart INO 10.70519


Egypt Pound versus The Dollar 3 Month Chart INO 7.1508


Egypt EGX30 Bloomberg +38.646% 2014 [Multi Year Highs]


9,403.39 -91.91 -0.97%

Nigeria All Share Bloomberg [+10 points in 2014 2 month Lows]


41,339.50 -224.71 -0.54%

The leader of Nigeria's Islamist group Boko Haram said his fighters
were now ruling the captured northeastern town of Gwoza "by Islamic
law", in the first video to state a territorial claim in more than
five years of violent insurrection.


Abubakar Shekau's videoed speeches, often as chilling for a rambling
incoherence as for any message they contain, have become a regular
feature of the militant leader's bid to project himself as public
enemy number one in Africa's biggest economy.

His forces have killed thousands since launching an uprising in 2009,
and are seen as the biggest security threat to the continent's leading
energy producer.

In the latest one released through his network late on Sunday, the
militant who says he is fighting to create an Islamic state in
Nigeria, said his forces were now in control of the hilly border town
of Gwoza, near the frontier with Cameroon, after more than a week of
fighting there.

"Allah has granted us success in Gwoza because we have risen to do
Allah's work," Shekau says, reading out a statement off a notebook,
with two masked gunmen on each side of him and three four wheel drive
vehicles behind him in thinly forested bush.

"Allah commands us to rule Gwoza by Islamic law. In fact, he commands
us to rule the rest of the world, not only Nigeria, and now we have

Abubakar Shekau, delivering a speech at an undisclosed location


read more

Abubakar Shekau "We are in your city," he said, addressing Nigeria's President Goodluck 22-APR-2014

This comment by the leader of Nigeria’s Boko Haram Islamists Abubakar
Shekau caught my attention;

“We are in your city,” he said, addressing Nigeria’s President
Goodluck Jonathan.

That comment could have been made by the Al-Shebaab. Both Boko Haram
and Al-Shebaab represent a risk that David Lipton did not touch on,
that being asymmetric risks. The recent bombings in Abuja and last
years attack on Westgate confirm the potency of asymmetric risks.

read more

Ghana Stock Exchange Composite Index Bloomberg +2.657% 2014 [7 month lows]

2,202.55 -9.73 -0.44%

Wildlife 'WikiLeaks' targets poaching in Africa


The founders of WildLeaks -- a sort of WikiLeaks for the environment
-- say it is the first secure, online whistle-blowing platform
dedicated to wildlife and forest crime.

While wildlife rangers face gun battles in national parks with
poachers carrying out the slaughter, the online project hopes to
target the top-end traffickers who cream off millions of dollars in

"We got, for example, a very interesting leak on a very powerful
individual in Kenya, linked to the government, who is behind the ivory
trade," said founder Andrea Crosta, a former security consultant and
longtime conservationist.

This kind of person "will never be taken out from within. They’re too
powerful. You need help from outside. So right now, we’re trying to
gather more evidence," he said in rapid-fire, Italian-accented

read more

Rwanda Sees Lower Bond Yields in Biggest Sale of Five-Year Debt

Rwanda is selling a record amount of five-year local-currency bonds as
the government of East Africa’s fastest-expanding economy seeks to
lower borrowing costs by taking advantage of burgeoning investor

The 15 billion francs ($22 million) of notes will pay a coupon of
between the 11.65 percent Rwanda paid for 12.5 billion francs of
three-year securities sold in February and the 12.25 percent rate on
15 billion francs of five-year notes issued by the International
Finance Corp. in May, Rwandan central bank Governor John Rwangombwa
said in a text message response to questions. The sale opens today and
closes Aug. 27.

President Paul Kagame’s administration is transforming local debt
markets by issuing domestic securities after the success of a $400
million international bond in April 2013, sub-Saharan Africa’s
second-best performing dollar debt this year. The president, in power
since 2000, is implementing policies to rebuild the $7.5 billion
economy after a genocide in 1994 that left at least 800,000 people

“Rwanda’s debt is truly sought after,” Aly-Khan Satchu, the chief
executive officer of Nairobi-based Rich Management Ltd., an adviser to
companies and wealthy individuals, said by phone.

Rwanda’s dollar-denominated bonds returned 14 percent this year,
compared with 17 percent for Zambia, the continent’s best-performing
debt in 2014, according to Bloomberg indexes. Yields on the notes due
May 2023 dropped 148 basis points, or 1.48 percentage points, this
year to 6 percent as of 2:19 p.m. in London.

read more

“The markets are never wrong,” President @PaulKagame said

THE markets are never wrong,” President @PaulKagame said in an
interview in Washington on August 5 at the #USAfricaSummit.

There was no sharper signal delivered in Washington than those five
words that President Kagame uttered.

read more

Kenya's debut $2 billion Eurobond pushed its total public debt to 57 percent of gross domestic product (GDP) at the end of June, up from 51.7 percent a year earlier, the Treasury said.
Kenyan Economy

Debt as a percentage of GDP is expected to fall in late September when
the statistics office updates the base year for calculating output to
2009, which will result in the size of the economy going up.

read more

“The overlay SIM has the potential to facilitate a man-in-the-middle attack'' GSM
Kenyan Economy

“The overlay SIM has the potential to facilitate a man-in-the-middle
attack by observing, collecting and revealing sensitive data such as
PINs, ciphering and integrity  keys,” the GSMA says in the advisory
note to the Communications Authority of Kenya (CA).

The slim SIM can also facilitate unauthorised access to the primary
SIM card, change of configuration settings and execution of actions
without the explicit permission or knowledge of the mobile user, the
GSMA says, adding that the technology can allow recording and
divulging of mobile user PIN details without the phone user’s

“A risk also exists that, even if the overlay SIM supplier and issuer
behave responsibly, a malicious third party could potentially down
load a ‘Trojan’ application to the overlay SIM to access sensitive
data,” the GSMA says.

read more

From Left: Airtel Kenya CEO Adil Youseffi, Finserve chairman John Waweru, Equity Bank CEO James Mwangi and chief officer, finance, innovation and techology John Staley during the unveiling of the Mobile Virtual Network Operator (MVNO) rollout plan in May
Kenyan Economy

Kenya Shilling versus The Dollar Live ForexPros 88.699


The Kenyan shilling hit its lowest level since January 2012 on Monday


"There was also an element of panic-buying."

Kenya Airways, which lost 10 percent last week after it suspended
flights to Sierra Leone and Liberia over the Ebola outbreak in west
Africa, regained some ground, rising 1.6 percent to close at 9.40
shillings per share.

"It was a very knee jerk sell-off reaction that we saw (last week). It
got a bit overextended and I expect the bounce to go a little bit
further," said Aly Khan Satchu, an independent trader and analyst.

Kenya Airways share price data here


Par Value:                  5/-
Closing Price:           9.40
Total Shares Issued:          1496470000.00
Market Capitalization:        14,066,818,000
EPS:             -2.25
PE:                 -4.178

Nairobi All Share Bloomberg +14.723% 2014 [This is a Fresh All time High]


156.77 +0.34 +0.22%

Nairobi ^NSE20 Bloomberg +2.172% 2014 [above 5,000 since 5th August]


5,033.69 +5.63 +0.11%

Every Listed Share can be interrogated here


read more

N.S.E Today

The Kenya Shilling which was at a January 2012 low yesterday improved
0.17% to trade at 88.52 last.
The Dollar has been on the front foot of late and the Dollar Index is
at 7 month highs.
Reduced hard currency Tourism receipts and a rebounding Dollar
softened up the shilling.
However, a sharp more than 10% Fall in the Price of Crude Oil over the
last 4 weeks, will lend some support to the Shilling.
The ''Teflon'' reputation of the shilling is taking a buffeting.
The Nairobi All Share pushed 0.40 points higher to close at a Record
High for the second consecutive session.
The All Share is +15.01% this Year.
The Nairobi NSE20 pushed 10.71 points higher to close at 5044.40.
In a bullish development, the NSE20 Index has closed above 5,000 every
session since august 5th and is at 7 month Highs.
Equity turnover picked up speed and clocked 600.385m versus 324.862m last time.

N.S.E Equities - Agricultural

Kenya Orchards was high ticked 9.92% to close at 13.85 on just 100
shares. Kenya Orchards has rallied a parabolic 361.66% in 2014.

N.S.E Equities - Commercial & Services

Safaricom closed unchanged at 12.75 and traded 1.721m shares. The
Share Price points higher with 52 Buyers for every 11 Sellers at the
Finish Line.

Kenya Airways firmed 1.595% to close at 9.55 and was trading at
session Highs of 10.00 +6.38% at the closing Bell. Kenya Airways has
rebounded 3.24% this week after a Knee-Jerk and overdone Sell-Off the
previous week. Buyers outpaced Sellers by a Factor of 3 versus 1 at
the Finish.

N.S.E Equities - Finance & Investment

Equity Bank had to hurdle some compelling comments as per as Advisory
note sent to the Communications Authority of Kenya from the GSMA,
referencing Equity Bank's slim SIM/ overlay SIM solution.

"The overlay SIM has the potential to facilitate a man-in-the-middle
attack by observing, collecting and revealing sensitive data such as
PINs, ciphering and integrity  keys."

The slim SIM can also facilitate unauthorised access to the primary
SIM card, change of configuration settings and execution of actions
without the explicit permission or knowledge of the mobile user, the
GSMA says, adding that the technology can allow recording and
divulging of mobile user PIN details without the phone user's

"A risk also exists that, even if the overlay SIM supplier and issuer
behave responsibly, a malicious third party could potentially down
load a 'Trojan' application to the overlay SIM to access sensitive
data," the GSMA says.

Equity Bank eased 0.53% to close at 45.75 and traded 408,200 shares.
The shallow shape of todays drawdown speaks to the fact that the GSMA
Note is not a terminal Blow and whilst Equity Bank might have to
return to the Drawing Board around the SIM, it will launch its MVNO
Mobile Money Product. Equity Bank is  +48.78% in 2014 and trades on a
Trailing PE of 13.1088.

Diamond Trust Bank was the most actively traded share at the Exchange
and closed unchanged at 260.00 and traded 600,600 shares worth
156.75m. Diamond Trust has rallied 35.4166% in 2014, reported a
+10.23964% First Half Profit after Tax Acceleration, trades on a
Trailing PE of 12.031 and recently completed a Rights issue which was
subscribed 440.27%.
CFC Stanbic traded 3rd at the Securities Exchange and eased 1.64% to
close at 120.00 and traded 453,500 shares worth 54.541m. CFC Stanbic
is +37.93% in 2014, trades on a P/E of 9.252 and accelerated H1 PAT
Kenya Commercial Bank firmed 0.877% to close at 57.50 and traded 682,900 shares.
NIC Bank firmed 1.27% to close at a Fresh 4 Year High of 80.00 and
traded 678,300 shares. NIC Bank has rallied a blistering 35% over the
last 4 weeks.

Jubilee Insurance reported First Half 2014 Earnings where First Half
Gross Revenue surged +26.8% to 15.1384b, First Half Claims and Policy
Holders benefits payable were capped at +9.642% at [6.393342b],
however, First Half Management Expenses spiked +32.152% to
[1.517606b]. Jubilee reported a +35.6% Acceleration in First Half
Profit After Tax to 1.0765b and spoke to a broad based regional
expansion with Tanzania a standout at +96%. After a spectacular Rally
amongst the Insurers which began in Q4 2013, Jubilee trades cheap
versus its Peers on a PE of  10.578. Jubilee firmed 0.5% to close at
402.00 and is +43.57% in 2014.

Centum rallied 2.7322% to close at 47.00 and traded 95,800 shares.
Centum is +42.42% in 2014.

N.S.E Equities - Industrial & Allied

BAT closed unchanged at 790.00 and traded 101,500 shares worth
80.192m. BAT is +31.666% in 2014 and that is excluding dividends and
sits  just 1.985% beneath a record High of 806.00 set last week. BAT
will push into record highs in very short order.

ARM Cement firmed 1.744% to close at 87.50 and is now at a 5 month
High. ARM traded 580,400 shares and has rallied 9.375% in August.

KenolKobil which had traded 77.7182m shares and 5.28% of its issued
shares over the preceding three trading sessions and since releasing
its First Half Earnings rallied 3.086% to close at 8.35 and traded
just 161,600 shares. There were Buyers for more than 400% of the
volume traded at the Finish Line, signalling the Price Rebound is
underpinned and has further to run.

Eveready rebounded 3.28% to close at 3.15 and traded 55,200 shares.
Eveready is +16.666% this year

by Aly Khan Satchu (www.rich.co.ke)
Login / Register

Forgot your password? Register Now
August 2014

In order to post a comment we require you to be logged in after registering with us and create an online profile.