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Satchu's Rich Wrap-Up
Thursday 28th of August 2014

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0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.

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

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

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#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.

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Boys and their Toys @Jaguar @JaguarAfrica @RMAKenya

“Frontiers are physical as well as symbolic constructions” ― Roland Barthes

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President Assad and Mrs. Assad
Law & Politics

If the US goal of keeping Syria a calamitous warzone remains intact,
officials could decide that just bombing everybody is the simplest


埃博拉疫情影响西非经济 政治稳定添变数 来源:凤凰卫视    发布:2014-08-23 21:35:00    时长:01:54
播放数:198685    评论数:0


CNCNEWS(Africa) Ebola taking toll on W African economy @YouTube


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Tell Me the One About Ebola: How Jokes Spread Awareness
Law & Politics

When Liberia imposed a curfew last week, the jokes quickly erupted on
Facebook. Wives welcomed it, one said, because husbands can no longer
stay out late drinking and watching soccer.

Ebola causing huge damage to West Africa economies - development bank


FREETOWN (Reuters) - Ebola is causing enormous damage to West African
economies, draining budgetary resources and slashing economic growth
by up to 4 percent as foreign businessmen leave and projects are
cancelled, the African Development Bank president said.

As transport companies suspend services, cutting off the region,
governments and economists have warned that the worst outbreak of the
hemorrhagic Ebola fever on record could crush the fragile economic
gains made in Sierra Leone and Liberia following a decade of civil war
in the 1990s.

Air France, the French network of Air France-KLM said on Wednesday it
has suspended its flights to Sierra Leone following advice from the
French government. France did not recommend suspending flights to
Nigeria and Guinea.

"Revenues are down, foreign exchange levels are down, markets are not
functioning, airlines are not coming in, projects are being cancelled,
business people have left - that is very, very damaging," African
Development Bank (AfDB) chief Donald Kaberuka said in an interview
late on Tuesday.

"The numbers I have had vary from one percent to four percent of GDP.
That is a lot in a country with a GDP of US$6 billion," Kaberuka said,
when asked to quantify the impact.

Kaberuka described the health care systems of the affected countries
as "overloaded". He said he hoped the donation would stop money being
diverted away from other programmes such as the education and
agriculture, thereby reducing the long-term damage from the outbreak.

"We need to begin now to plan what could happen next when Ebola is
beaten," he said.

The WHO said on Wednesday that it was awaiting test results on samples
of hemorrhagic fever from Congo sent to laboratories, but the outbreak
appeared to be unrelated to the West African outbreak. The first case
appeared to be a pregnant woman in the village of Ikanamongo who died
on August 11 after butchering a bush animal, the WHO said.

It said it had assembled a rapid response team and was ready to assist
Congo if needed.

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.3212
Dollar Index 82.34
Japan Yen 103.74
Swiss Franc 0.9134
Pound 1.6597
Aussie 0.9359
India Rupee 60.415
South Korea Won 1013.55
Brazil Real 2.2469
Egypt Pound 7.1510
South Africa Rand 10.6149

Dollar Index 3 Month Chart INO 82.34


Euro versus the Dollar 3 Month Chart 1.3212


The interest rate or yield indicated by traded German 10-year bonds,
the benchmark for the eurozone, fell to a record low level of 0.915
percent from 0.939 percent late on Tuesday.

The rate for French 10-year debt fell to a record low of 1.249 percent
from 1.275 percent, against a background of the formation of a new
government in France following the shock dismissal on Monday of
economy minister Arnaud Montebourg, who had criticised economic

Records were also broken for Italian and Spanish 10-year debt. The
Italian yield fell to 2.372 percent from 2.413 percent, and the
Spanish rate to 2.097 percent from 2.172 percent.

The first class cabin of a Qatar Airways Ltd. Boeing Co. 787
Dreamliner aircraft.


For Gulf carriers, the opulence of first may be as much about
projecting an image of their home state as selling seats.

“You’re almost branding a nation,” said Nigel Goode, a director at
Priestmangoode in London, which has designed plane interiors for
clients including Lufthansa, Malaysia Airline System (MAS) Bhd. and
Qatar Air. “It’s a gateway that helps visitors form an impression
about the country before they land.”

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Commodity Markets at a Glance WSJ

Gold 3 month Chart INO 1285.76


Crude Oil 3 Month Chart INO 93.58


WTI for October delivery declined as much as 36 cents to $93.52 a
barrel in electronic trading on the New York Mercantile Exchange and
was at $93.54 at 3:14 p.m. Sydney time. The contract gained 2 cents to
$93.88 yesterday, the highest close since Aug. 21. The volume of all
futures traded was about 55 percent above the 100-day average. Prices
have slid 5 percent this year.

Brent for October settlement was 16 cents lower at $102.56 a barrel on
the London-based ICE Futures Europe exchange. The European benchmark
crude traded at a premium of $9.02 to WTI, compared with $8.84

WTI is headed for a second monthly loss.

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Thai premier tells foreign investors: 'We are not dictators'
Emerging Markets

Prayuth met representatives from the Thai-European Business
Association (TEBA), a group representing 80 Thai and European
investors including automotive, aerospace, pharmaceutical and
logistics firms, telling them he was prepared to do "everything" to
ensure Thailand remains a hub for foreign investors.

"I am prepared to do everything. Just show me your investment roadmap," he said

Prayuth, 60, who is also Thailand's army chief, said the country needs
time to deal with its political transition.

"We are not dictators that just order whatever," Prayuth said during
the meeting at the army's Bangkok headquarters, the first between the
junta leader and foreign investors following his appointment as

"In case you have heard distorted information that we have treated
people badly, it is not true. Just look at my face. I am not a cruel

Frontier Markets

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NEWS ANALYSIS: Mugabe may return to world stage as AU head

PRESIDENT Robert Mugabe of Zimbabwe is in pole position to become the
next leader of the 54-member African Union (AU), after securing the
chairmanship of the Southern African Development Community (Sadc) last
week. Nothing bars him from simultaneously taking the helm of both
while also running his troubled country.

The continent’s oldest president will turn 91 on February 21 and if,
as is probable, he is chosen by fellow African heads of state early
next year to become their leader for the next 12 months, his
meticulously planned political comeback will be one of the most
complete in modern history.

Still a liberation hero in parts of Africa, particularly the south, Mr
Mugabe’s status as a pariah in many western countries and in human
rights circles in Zimbabwe has only recently improved. He and his wife
Grace are still under sanctions imposed by the US and European Union

He was not invited by President Barack Obama to this month’s inaugural
US-Africa summit in Washington, for example. All that could change
quite soon.

"He is the man to beat," says a senior AU official in Addis Ababa,
asking not to be named. "We rotate the chairmanship between regions
and next year is Southern Africa’s turn. Since President Mugabe has
just taken over at Sadc, we can assume he will be the group’s
candidate and that he will be chosen by his peers."

Harare (AFP) - Zimbabwe riot police detained more than a dozen
opposition protesters and beat up others at a demonstration on
Wednesday over high unemployment, an AFP correspondent witnessed.


Police armed with batons descended on around 100 members of the
opposition Movement for Democratic Change marching in the capital
Harare, days after its party leader advocated a wave of nationwide

Zimbabwean riot police patrol outside Harare Magistrate's Court on
March 19, 2013 (AFP Photo/Alexander Joe)


Sub-Saharan Africa telecom market to grow fastest in next five years @bd_africa


Telecoms service revenue in the SSA market will increase at a 6 per
cent CAGR during 2013–2018 (mobile at 6.7 per cent and fixed at 1.0
per cent), jumping from $49 billion in 2013 to more than $65 billion
in 2018.

The SSA market accounted for only 2.9 per cent of worldwide telecoms
revenue in 2013, increasing to 3.6 per cent by 2018.

Telecoms revenue in SSA will continue to be heavily dominated by
mobile services, which accounted for 86.5 per cent of telecoms revenue
in 2013 and will contribute an even higher 89.4 per cent in 2018.
Mobile voice and handset data revenue will together deliver 90 per
cent of the total telecoms revenue growth in the region in the next 5

However, mobile data revenue will grow far faster than mobile voice
revenue (at a 5-year CAGR of 19.6 per cent compared with 4.7 per cent
for voice).

Mobile handset data’s share of total telecoms revenue will almost
double by 2018, reflecting the role of mobile devices as the main
Internet access point for most users in Africa.

Increased penetration of smartphones in the SSA region is underpinning
handset data growth. Smartphone penetration will more than double from
12 per cent of handsets in 2013 to 26 per cent in 2018 (at a CAGR of
25.2 per cent).

South Africa All Share Bloomberg +11.574% 2014


51,610.42 -119.26 -0.23%

Cape Buffaloes Sell for $6.3 Million at Biggest Auction Yet


Billionaire Johann Rupert, South Africa’s richest person, led a group
that bought a buffalo bull named Mystery for a record 40 million rand
in September. Cyril Ramaphosa, the country’s deputy president and
second-richest black businessman, made a failed bid of 19.5 million
rand for a buffalo cow and calf in 2012.

Breeding of wild animals in South Africa for hunting, eco-tourism and
meat production is growing at 10 percent a year and had revenue of
about 12 billion rand in 2013, according to Barclays Africa Group Ltd.

Dollar versus Rand 6 Month Chart INO 10.6135


Egypt Pound versus The Dollar 3 Month Chart INO 7.1496


Egypt EGX30 Bloomberg +38.2188% 2014 [Multi Year Highs]


9,374.36 +15.18 +0.16%

Nigeria All Share Bloomberg -0.503% 2014 [3 month Lows]


41,121.14 -114.13 -0.28%

Ghana Stock Exchange Composite Index Bloomberg +2.6541% 2014 [7 month lows]


2,200.98 -0.56 -0.03%

Over US$30 billion is to be committed in Mozambique to produce 20
million tonnes annually of LNG, with the ports of Pemba and Palma to
be redeveloped in the massive programme of redevelopment.


The national oil company has verified that the project will be
operational by 2018, according to Reuters.

Mozambique’s plans on converting LNG through its large gas deposits
can provide profits that will see the country rise from poverty.

Nelson Ocuane, president of the state oil company ENH said: "In an
initial phase, liquefaction units with a total capacity for 20 million
tonnes a year of LNG will be built and operated. The investment to be
made tops US$30 billion."

Ocuane was speaking at the launch of the project for the Pemba port
logistics base.

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British gas company BG Group has produced higher-than-expected flows of gas from a test well off the coast of Tanzania, boosting the financial viability of its planned liquefied natural gas (LNG) export terminal in the east African country.

Test flows at BG's Mzia-3 well off the southern part of Tanzania's
coast produced better-than-expected results, reaching a maximum rate
of 101 million cubic feet per day, nearly double the flow rate
measured at Mzia-2 last year.

"The excellent results from this latest drill-stem test further reduce
reservoir risk, a critical factor as we progress design of the
upstream production facilities and infrastructure," said Sami
Iskander, BG Group's chief operating officer.

BG, together with partners Statoil, Exxon Mobil and Ophir Energy,
plans to build a two-train LNG export terminal, expected to start
operating in the early 2020s, but a final investment decision is only
set for 2016.

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IMF Says Zambia Plan to Slow Spending Pace Will Support Economy

Zambia’s plan to slow its increase in spending next year as the
government tries to contain the budget deficit will probably help
stabilize the economy, according to the International Monetary Fund.

Africa’s second-biggest copper producer is seeking to raise budget
expenditure by about 7 percent in 2015, according to the IMF, citing
data from the government’s medium-term spending program. That is below
the more than 30 percent rise in public spending planned for this
year. The government is introducing “serious structural reforms,”
Finance Minister Alexander Chikwanda said yesterday.

“The planned fiscal consolidation is positive for the economy, as it
will ease pressure on inflation, promote lending to the private
sector, and more generally help anchor macroeconomic stability,” said
Tobias Rasmussen, the IMF’s representative in Zambia, in an e-mailed
reply to questions.

Zambia’s budget deficit has widened more-than-forecast because of
higher salaries for state workers, and fuel and corn subsidies. The
government has tried to ease pressure on the kwacha, Africa’s third
worst-performing currency versus the dollar this year, with measures
that include clamping down on currency speculators. The kwacha has
declined 8 percent in 2014.

While Zambia doesn’t need to seek a loan from the IMF, it still plans
to hold talks with the lender about a possible economic program, said
Chikwanda. The best timing for the talks will probably be after the
2015 budget plan is announced in October, he said.

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I & M Holdings Ltd reports H1 PAT 2014 +9.6743% Earnings here
Kenyan Economy

Par Value:
Closing Price:           136.00
Total Shares Issued:          392362035.00
Market Capitalization:        53,361,236,7602.
EPS:             11.75
PE:                 11.574

I & M Holdings reports First Half Earnings through 30th June 2014

versus through 30th June 2013
First Half Loans and Advances Net to Customers 102.095020b versus
83.986547b +21.561%
First Half Total Assets 158.197690b versus 134.357888b +17.743%
First Half Net Interest Income 4.975389b versus 4.140039b
First Half net Fee and commission income 964.673m versus 913.542m
First Half other operating Income 687.841m versus 841.605m
First Half Operating Income 6.627902b versus 5.895186b
First Half Operating Expenses [2.547828b] versus [2.235674b]
First Half Net Impairment [373.786m] versus [161.362m] +131.644%
First Half Profit before Tax 3.796185b versus 3.477815b +9.1543%
First Half profit after Tax 2.621765b versus 2.390520b +9.6743%
First Half Earnings Per Share 12.46 versus 12.21


Fairly priced.

Kakuzi reports H1 PAT 2014 -36.56% Earnings here


Par Value:                  5/-
Closing Price:           165.00
Total Shares Issued:          19600000.00
Market Capitalization:        3,234,000,000
EPS:             8.42
PE:                 19.596

First Half Earnings through 30th June 2014 versus through 30th June 2013

First Half Sales 447.623m versus 428.988m +4.34%
Profit before Fair Value gain in biological assets 57.732m versus
91.857m -37.15%
First Half Fair value gain in Biological Assets 18.506m versus 21.015m -11.939%
First Half Profit before income Tax 76.238m versus 112.872m -32.456%
First Half Profit after Tax 48.956m versus 77.172m -36.56%
First Half Earnings Per Share 2.50 versus 3.94 -36.54%
Retained Earnings of 2.771498b = 141/= a share

Company Commentary

Major cause of the reduced profits has been mainly due to lower Tea
Prices in the first half of the year and the increased cost charges to
revenue on Macadamia as early planted fields come to maturity.

No Interim Dividend


Tea Price Structure was weak in this reporting period and a Known Known.
Note Retained Earnings now equate to 141.00 shillings a share.
the NAV is also a multiple of the share price.

Kenya Shilling versus The Dollar Live ForexPros 88.345


The Teflon Shilling 14-JUL-2014


Nairobi All Share Bloomberg +15.126% 2014 [Has set a record high every
day this week]


157.32 +0.15 +0.10%

Nairobi ^NSE20 Bloomberg +2.963% 2014 [Has closed above 5,000 every
session since August 5]


5,072.87 +28.47 +0.56%

Every Listed Share can be interrogated here


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

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