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Friday 22nd of January 2016 |
Morning Africa |
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If you are tracking the NSE Do it via RICHLIVE and use Mozilla Firefox as your Browser. 0930-1500 KENYA TIME Normal Board - The Whole shebang Prompt Board Next day settlement Expert Board All you need re an Individual stock.
The Latest Daily PodCast can be found here on the Front Page of the site http://www.rich.co.ke |
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@KenGenKenya share price data here Africa |
Market Capitalization 12,090,987,392 EPS: 5.24 PE:1.050
Macro Thoughts
Brent, the global benchmark, has surged more than 11 percent in the past two days after settling at $27.88 a barrel on Wednesday, the lowest close since November 2003. The contract gained as much as $1.85, or 6.3 percent, to $31.10 on Friday. Prices slid 35 percent last year.
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“It is not down on any map; true places never are.” ― Herman Melville, Moby-Dick Africa |
“We're a crowd, a swarm. We think in groups, travel in armies. Armies carry the gene for self-destruction. One bomb is never enough. The blur of technology, this is where the oracles plot their wars. Because now comes the introversion. Father Teilhard knew this, the omega point. A leap out of our biology. Ask yourself this question. Do wehave to be human forever? Consciousness is exhausted. Back now to inorganic matter. This is what we want. We want to be stones in a field.” ― Don DeLillo, Point Omega
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“The true life is not reducible to words spoken or written, not by anyone, ever.” ― Don DeLillo, Point Omega Africa |
“The true life is not reducible to words spoken or written, not by anyone, ever. The true life takes place when we're alone, thinking feeling, lost in memory, dreamingly self-aware, the submicroscopic moments.” ― Don DeLillo, Point Omega
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Early humans lived in the Olorgesailie region, in what is now the southern Kenya, between 1.2 million and 490,000 years ago. Africa |
Early humans lived in the Olorgesailie region, in what is now the southern Kenya, between 1.2 million and 490,000 years ago. Excavations at Olorgesailie show the habitats and animals these early humans encountered, the handaxe tools they made, and the climate challenges they met.
Olorgesailie is a sedimentary basin located in southern Kenya in the East African Rift Valley. It has been excavated for many years and contains many artifacts that have accumulated over a long time period. Here we will look at finds unearthed in this region dated between 1.2 million and 490,000 years ago. Faunal remains (the fossil bones of animals) tell us which animal species lived in the Olorgesailie area, while the sediments show the changes that occurred in the environment, such as the expansion or drying up of a lake, the presence of rivers, and the eruption of volcanoes.
Artifacts have been excavated at Olorgesailie since 1942. Olorgesailie is unusual because of the large number of handaxes found there, along with other bifacial tools (flaked on two sides to create an edge). Archeologists used to assume that excavated sites provide examples of campsites (home bases) or other living spaces typical of modern human hunter-gatherers. Yet sites are difficult to interpret without looking at the factors that can disturb the pattern of artifacts and bones, moving them, destroying items, or rearranging them to mix layers from different time periods. It is also interesting to consider how very old archeological sites provide evidence of behaviors that aren’t quite like those of contemporary or recent humans who forage for food as a way of life.
The latest fieldwork at Olorgesailie is a collaborative effort of the Smithsonian’s Human Origins Program and the Department of Earth Sciences of the National Museums of Kenya. Led by Dr. Rick Potts, the excavations offer a look at how early hominins used the landscape and how they responded to environmental changes.
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Insurgency Tail Risk 08-SEP-2014 Law & Politics |
Last year, Ben Bernanke was asked why people hold gold and he said: "As protection against what we call tail risks: really, really bad outcomes."
The insurgency tail risk remains and how it plays out will have important consequence for ourselves and the entire Africarising narrative.
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24 AUG 15 China Roils The Markets @TheStarKenya Law & Politics |
“It’s totally premature to speak of a crisis in China,” a senior IMF Official told a press conference.
In my experience, when policy makers make these kind of pronouncements, it is exactly because there is a crisis.
“At the moment none of us can read China,” said the CEO of Glencore. I can and it is going to get a lot worse, I am afraid.
The further problem is that no one believes the data either. This moment when the market stops suspending its disbelief is seriously a dangerous one for policy makers.
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Currency Markets at a Glance WSJ World Currencies |
Euro 1.0833 Dollar Index 99.36 Japan Yen 118.03 a one-year trough of 115.97 struck earlier this week Swiss Franc 1.0090 Pound 1.4230 Aussie 0.7027 India Rupee 67.725 South Korea Won 1200.63 Brazil Real 4.1557 Egypt Pound 7.8298 South Africa Rand 16.6015
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Bank of Russia Chief Axes Davos Trip as Ruble Speculators Pounce Emerging Markets |
The Bank of Russia’s press service gave no reason for Governor Elvira Nabiullina’s decision not to travel to Davos on a day that the ruble declined as much as 5.3 percent to 85.999 per dollar, the most in emerging markets.
“It’s sensible not to stand in the way of a freight train,” he said. “When you have oil prices under such pressure, it makes sense not to stand in the way. Oil prices will probably trade down to the low 20s and the ruble will follow.”
Conclusions
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The Vice Admiral Kulakov’s main role is to track foreign submarines. Photograph: Vladimir Isachenkov/AP Emerging Markets |
Russian has paraded it naval might in the Mediterranean, inviting reporters aboard a destroyer cruising off Syria’s coast in scenes reminiscent of the Soviet era.
The military demonstrated its global presence on Thursday by bringing Moscow-based journalists aboard the Vice Admiral Kulakov destroyer, which sailed alongside the flagship of the Russian naval group, the Varyag missile cruiser.
By establishing a long-term presence in the eastern Mediterranean, the Russian military has revived a Soviet-era capability to project naval power far from its borders.
Frontier Markets
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Fearing genocide, ex-Burundi presidents plead for U.N. troops Africa |
Two former Burundi presidents pleaded for the United Nations Security Council on Thursday to back the deployment of international troops to the African state gripped by political violence because it "runs the risk of becoming another Rwanda"
Diplomats of the 15-member council arrived in Burundi's capital Bujumbura on Thursday evening for its second visit to the tiny landlocked state in less than a year, where fears of an ethnic war have also led to an economic crisis.
The Security Council is due to meet President Pierre Nkurunziza on Friday. Violence broke out after Nkurunziza's decision in April to seek a third term. His opponents said the move was unconstitutional but he went on to win a disputed election in July.
Hundreds of pro-government protesters lined the road from the airport to the U.N. envoys' hotel, welcoming them with drumming and dancing and signs with messages such as: "Burundi is sovereign, stop interfering in Burundi home affairs."
There were several grenade explosions on Thursday in Bujumbura, but no further details were known, diplomats and police said. Since April, at least 439 people have been killed and the number might be "considerably higher," the United Nations said. Some 232,000 people have fled the country.
The envoys, led by U.S. Ambassador to the United Nations Samantha Power and senior Angolan and French diplomats, met Jean-Baptiste Bagaza, Burundi's president from 1976-87 and Domitien Ndayizeye, president from 2003-05.
Bagaza said armed outside support was necessary to reassure Burundians. Both former presidents called on the Security Council to back such a move.
"Otherwise we run the risk of becoming another Rwanda," Bagaza said. "We already have a heavy death toll, a great deal of destruction to the economy."
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Pentagon expands in Africa @Africa_conf Africa |
The US Africa Command is improving its logistics south of the Sahara because it believes insurgent threats are growing
Africa is home to 'growing threats and opportunities', says the United States Africa Command (Africom) Commander, General David M. Rodriguez. The USA is accordingly improving its access to all parts of the continent so as to be able to move there quickly if the need should arise. The threats Rodriguez refers to include Da'ish ('Islamic State', IS), Somalia's Al Haraka al Shabaab al Mujahideen, other Al Qaida affiliates and Nigeria's Boko Haram, now officially part of Da'ish. Africom also works with the Ugandan military to counter Joseph Kony's Lord's Resistance Army, which operates out of Central African Republic and Sudan . It is also believed to be working closely with French forces in the Sahel and West Africa.
Conclusions
US has a decisive Hard Power Advantage over the African Continent.
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ALY-KHAN SATCHU Wrote: (your comment) US can insert Hard Power with which it can tilt the African Pitch. Africa |
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.
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
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A Sine qua non of President Barack Obama's pivot to Asia is US/NATO Power Projection over the Indian Ocean. 19-AUG-2013 Africa |
Professor Felipe Fernández-Armesto explains why 'The precocity of the Indian Ocean as a zone of long-range navigation and cultural exchange is one of the glaring facts of history', made possible by the 'reversible escalator' of the monsoon.'
I have no doubt that the Indian Ocean is set to regain its glory days. China's dependence on imported crude oil is increasing and the US' interestingly is decreasing. I am also certain the Eastern Seaboard of Africa from Mozambique through Somalia is the last Great Energy Prize in the c21st. [President Kenyatta probably posed the question to Vladimir Putin, whether Russia felt it had a role to play in this Energy Great Game in East Africa]. Therefore, the control of the Indian Ocean becomes kind of decisive and with control China can be shut down quite quickly. A Sine qua non of President Barack Obama's pivot to Asia is US/NATO Power Projection over the Indian Ocean.
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After the 'rising' – now reform and realism Africa Confidential Africa |
Bankers' bets, based on glossy analytical reports about Africa's lion economies and a doubling of its gross domestic product by 2025, were discreetly torn up last year. In their place are downbeat prognoses about Africa's position in a much harsher global economic and political climate (AC Vol 56 No 1, New ideas, harder times and a few surprises).
For the irrepressible optimists, this year's hard times will concentrate minds. Take Nigeria, where President Muhammadu Buhari's government says it is determined to combat the falling oil prices with an expansionist or Keynesian programme of capital investment and to restructure the economy to end its chronic dependence on oil exports. It would certainly help if Nigeria's top industrialist, Aliko Dangote, has as much success with his oil refining and petrochemical businesses as he has with cement production. Thanks to Dangote's astute financial calculations and political diplomacy, he has made Nigeria a net exporter of cement. He plans to do the same with petroleum products and petrochemicals, if he can hold his nerve. The value of his investments have already fallen by over 20% on the Nigerian Stock Exchange.
Business people and oppositionists chant similar mantras about restructuring in South Africa and Angola, and there is more interest in the dirigiste model of economic restructuring developed by Ethiopia, Morocco and Rwanda, and the more market-led developments in Kenya.
World Bank economists reckon that the downward trajectory started in 2014, when average GDP growth in Africa fell to 4.6% and its latest report notes a further slowing to 3.4%. For this year, the Bank offers a modicum of optimism with a forecast rise to 4.2%.*
Five developments fuel the gloomier outlook for Africa. Firstly, China's economic rebalancing and slowdown. By some measures, China is already the world's biggest economy and for Africa, it is certainly the most influential one by dint of the more than US$200 billion annual trade account with the continent's 55 economies. As agile as any Western spin doctors, Chinese officials went to great lengths at last December's Forum for China-Africa Cooperation to promote a new package of $60 bn. worth of investment and loans to Africa, as they explained some of the consequences of their country's economic restructuring. As trade between China and Africa slows in the short term, Beijing's officials made much of the prospects for cooperation on big industrial projects on the continent. That, though, is very much a medium-term prospect.
Secondly, the commodity price crash cannot all be blamed on China and it is not blighting all Africa's exports. For example, export earnings from cocoa, coffee and tea look set to hold up in both the increasingly lucrative specialist markets and in the traditional bulk purchase markets. In other areas, the commodity news is undeniably grim: the millions of extra barrels of oil on the international market seem destined to push down prices further, short of a spectacular political shock such as the collapse of the monarchy in Saudi Arabia. With United States' and European sanctions lifted against Venezuela, Iran and perhaps Russia, the prospects are for yet more and cheaper oil.
Mining companies are laying off workers across Africa: at least 50,000 people in South Africa and tens of thousands in Congo-Kinshasa and Zambia. Here, the forecast demand for copper, cobalt and iron ore is more complicated because of the long lead-time to develop a mine. More optimistic analysts argue that India – now the fastest growing big economy in Asia – could replace China as the most important metals buyer for Africa. Again, that is more of a medium-term prospect. Just as international oil companies are cancelling exploration and production operations in Africa and elsewhere, big mining projects, such as the Simandou iron ore project in Guinea, will struggle to raise finance (AC Vol 56 No 22, Condé consolidates as opposition regroups).
Thirdly, the Western-dominated financial sector will impose tougher terms on African borrowers and raising finance for big capital projects will get harder still. With a stronger dollar and higher domestic interest rates, more cautious financiers are returning to the US markets. Not only will African countries have to pay higher interest rates on fresh sovereign bond issues, the costs of servicing existing debts are likely to rise sharply. Already, the vulture funds of Wall Street are eagerly surveying the market for bargains.
Fourthly, the political and security climate is scaring off Africa's many short-term investors and fair-weather friends. More liquid equity and money markets such as South Africa's have lost billions in value over the past year, partly because of self-inflicted wounds but also due to growing corporate nervousness about the reality behind those Panglossian reports about Africa's fast growing middle classes. More robust responses from governments and institutions such as the African Development Bank to counter to some of the nonsensical swings in international sentiment on Africa could help. So could much better data and statistics, as well as an African ratings agency that can evaluate political risk with inside knowledge, rather than long-range speculative assessments.
Although Africa's security crises are most serious in the Horn, the Sahel and Libya, few foreign assessments make those distinctions. Accordingly, the tourism and service industries have been heavily hit by the wave of Islamist attacks over the past couple of years and the growing sense of threat across the region. In places such as Kenya's Coast Province, this reinforces a cycle of economic and political insecurity when terror attacks close down tourist facilities, weakening local economies and exacerbating grievances.
Fifthly, the extreme weather – longer droughts and heavier flooding – associated with climate change is doing increasingly serious damage to agriculture in Africa as well as worsening social conditions more generally. Despite the celebrations around the climate change treaty in Paris in December, there were few guarantees of new money to enable African economies to adapt to global warming. However, some of the bolder sustainable energy projects in Africa – such as solar power in West Africa and the 'green energy corridor' in East Africa – point the way to new economic strategies which could give the commodity-dependent countries a much needed boost.
How are African governments likely to react to the tougher conditions? Some politically vulnerable governments are planning more social protection schemes while others are looking for ways to pull in more foreign investment. We hear that Nigeria's new Trade and Investment Minister, Okechukwu Enelamah, wants to cut through the country's business bureaucracy (AC Vol 56 No 23, Buhari resets the clock). Currently, Nigeria is 169th out of 189 countries surveyed by the World Bank's 'Ease of Doing Business' ratings.
Central bankers, too, will look much harder at the viability of the commercial banking sectors as bad debts grow, in some cases due to mounting payment arrears on state contracts. State treasuries will face their own problems in coping with rising foreign debt burdens, made heavier by a stronger dollar and rising interest rates. The IMF warns of a decline in the competitiveness of Africa's economies and poor performance of its manufacturers, hit by unreliable power, poor transport links and again, bureaucracy.
The IMF believes inadequate infrastructure, despite falling transport cost, high wages and over-valued exchange rates are partly to blame. It adds that most governments lack the financial buffers that they had in 2009 to weather that financial crisis. Then, substantial reserves and modest deficits allowed governments to introduce projects and programmes – counter-cyclical spending – to protect the poorest. This time, those buffers don't exist.
The IMF also reckons that oil producers such as Angola and Nigeria will have to make 'sharp fiscal adjustments' and will see growth levels sharply down (see Chart). It also predicts growth of more than 6% for several countries, such as Kenya, Ethiopia, Tanzania, Mozambique, Rwanda, Côte d'Ivoire, Congo-Kinshasa and Chad.
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India to increase oil imports from Africa Africa |
"We imported 32 million ton of crude in 2014 from Africa, including 3 million tons from North Africa and 29 million tons from West Africa, mainly from Nigeria and Angola. This constitutes approximately 16 per cent of our consumption. This is going to increase in the coming years," Pradhan said.
Speaking at the inaugural session of the 4th India-Africa Hydrocarbons Conference, he said over the past two decades, the African hydrocarbon sector has been expanding rapidly as also the interests of Indian oil companies in the continent.
"As a matter of policy, the present Indian government is keen to move towards a geographically diversified energy basket. This has resulted in India's greater focus on Africa as a vital region for sourcing petroleum products in coming years," he said.
The Compound Annual Growth Rate (CAGR) of Indian primary energy consumption in the last 15 years has been about 7.3 per cent as compared to a global CAGR of 3 per cent.
A revolution from below Africa is redefining what it means to be middle class Economist http://www.theworldin.com/article/10498/revolution-below?fsrc=scn/tw/te/bl/ed/theworldin2016
This growing class of consumers is attracting a herd of private-equity firms and multinational consumer-goods companies, to cash in on what McKinsey, a consultancy, called Africa’s “single-largest business opportunity”.
This seems fanciful. Even though the region’s economy has expanded at an average pace of close to 5% over the past 15 years—enough to have more than doubled economic output—the proceeds of this have not been evenly distributed. Moreover, most poor Africans were in such deep poverty that even a doubling of income (from say $1 to $2 a day) is not enough to lift them out of it. Among the biggest boosters of the idea that Africa’s middle class would explode is the African Development Bank. In an influential report in 2011 it reckoned that this class had already tripled in size in 30 years and was 300m strong. Yet its study was based on the bold classification of the category as including anyone with more than $2 a day to spend. About half of this supposed middle class live on less than $4 a day.
A somewhat more sober assessment by South Africa’s Standard Bank that is based on the spending power and consumer habits of families (whether they have a television, for instance) reckons that there are just 15m middle-class people in 11 of sub-Saharan Africa’s biggest economies. Almost a third of these live in Nigeria; hardly any are in Ethiopia. Small as this class may be, it is already having outsized effects in driving innovation that will allow it to enjoy many of the goods that were once the preserve of richer folk. In 2016 the impact will be felt across many areas of life—and in ever more parts of Africa.
A carer for a woman who died of Ebola in Sierra Leone has now been infected with the virus, heightening fears of a fresh flare-up just days after West Africa was declared officially free of the disease. http://www.aljazeera.com/news/2016/01/fear-sierra-leone-ebola-case-confirmed-160121055559943.html
The second case to be identified in less than a week is a 38-year-old woman who had helped to care for last week's victim, Mariatu Jalloh, health ministry spokesman Sidi Yahyah Tunis said according to a report by Reuters news agency.
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Nigeria plans to borrow up to $5 billion from multiple sources, including the Eurobond market Africa |
Last week the naira NGN=D1 - hit by a foreign exchange scarcity in the face of low oil receipts - fell to a record low of 305 to the dollar on the parallel market, compared with the official rate of 197.
The central bank has faced criticism for imposing a number of restrictions last year aimed at conserving foreign exchange reserves. It said January foreign reserves had fallen to around $28 billion, compared with $37 billion in June 2014.
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CBK tells Imperial Bank owners to deposit Sh10bn pledge Kenyan Economy |
The Central Bank of Kenya (CBK) has asked Imperial Bank shareholders to deposit Sh10 billion as a pre-condition for opening dialogue on their pledge for re-opening the lender.
“We are very open to real genuine proposals to re-open the bank. There is an account here in the CBK, if you are serious put the money there then we can discuss,” said CBK Governor Patrick Njoroge at a press briefing on Thursday.
The governor disclosed that the regulator has paid out nearly Sh6 billion to depositors of the collapsed bank.
He said he had been waiting on the shareholders, who he referred to as “people with means,” to honour their pledge made soon after the closure of the bank in October, in vain.
Conclusions
The Conundrum is this The Board is either incompetent or complicit.
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Kenyan politics Rifts in the Rift Economist Kenyan Economy |
DRIVE west out of Nairobi and you quickly realise how astonishing the topography around the Kenyan capital is. After an hour or so crawling in traffic past tea fields and farmers selling sheep skins and fresh vegetables, motorists suddenly find themselves on an escarpment from which the land simply drops away. On the horizon, mist clings to the top of Mount Longonot, a dormant volcano. Before it, a patchwork of tiny green farms stretches across the valley floor like a carpet.
This is the central part of the Rift Valley, a vast depression that stretches thousands of miles. It is Kenya’s breadbasket and its most densely populated region. Its flower farms, tea fields and coffee plantations provide much of the country’s exports, as well as employment for thousands of workers. Its geothermal energy plants provide Nairobi with cheap electricity; its lakes provide water and its farms food.
In politics, too, the Rift Valley plays a central role. It contains a key constituency that Uhuru Kenyatta, Kenya’s president, needs to win over if he is to be returned to office in an election due next year. Mr Kenyatta, who is from the Kikuyu, Kenya’s largest tribe, won in 2013 by forging an alliance with William Ruto, a politician who is popular among the Kalenjin-speaking people who are numerous in the Rift. Yet with Mr Ruto arraigned at the International Criminal Court (ICC) in The Hague on charges of instigating violence after disputed elections in 2007, and the economic boom slowing across Africa, what happens over the next year in the Rift Valley will be crucial to Kenya’s fate.
Polling day is more than 18 months away, but electioneering is already under way. In Nakuru, the biggest city in the region, the office of the Kenyan electoral commission buzzes with young workers clutching application forms for jobs as officials. As many as 1.5m voters will be registered over the next few months, says Ezekiel Muiruri, the local administrator.
On the shore of Lake Naivasha, the election is beginning to worry some. Here, tourist camps sit alongside acres of greenhouses from which, every day, millions of roses are flown to Europe and the Far East. The farms are flourishing: between 1995 and 2014, the annual volume of flowers exported rose from 29,000 tonnes to 137,000, drawing workers from across Kenya.
Yet this influx of migrants means that the area around Naivasha is no longer so dominated by either the Kikuyu or Kalenjin. Its kaleidoscopic tribal mix has long made Kenyan politics jumpy and sometimes violent. Tribal tension is always liable to boil over during elections and the Rift Valley remains a political cauldron.
For the first decade-and-a-half after independence in 1964 the Kikuyu, led by Jomo Kenyatta (the current president’s father) were on top. Then, under President Daniel arap Moi, the Kalenjin started to call a lot of the shots. In 2002 Mr Moi was succeeded by Mwai Kibaki, who reasserted Kikuyu power. But this was challenged at the polls in late 2007 by an alliance led by Raila Odinga, the head of a particularly aggrieved tribe, the Luo, alongside Mr Ruto, the Kalenjin’s main torchbearer.
When the results of that election were contested places like Naivasha and Nakuru erupted in violence that shattered the country during the first part of 2008. At least 1,300 people were killed and 300,000-plus displaced. At Karagita, a slum that borders the lake, a group of men fret about the possibility of ethnic violence similar to what happened after the election in 2007. “The way politicians are speaking now makes me nervous,” says Julius, a tailor, hunched over his ageing sewing machine. He fears that politicians will once again whip up ethnic tensions.
Most Kenyan analysts think Messrs Kenyatta and Ruto could easily win again if they stick together. But that is not assured. One problem is the case at the ICC: for the past two years, Mr Ruto, with the backing of the entire Kenyan government, has been seeking to have the charges thrown out. But instead proceedings have moved slowly. On January 12th, he appeared in The Hague. Many of Mr Ruto’s supporters question why he is still in the dock when charges against Mr Kenyatta have been dropped. If Mr Ruto is convicted, his alliance with Mr Kenyatta may crumble.
Another problem is that although in 2013 Mr Ruto was able to deliver the crucial Rift Valley votes of the Kalenjin, he is not the only politician representing them. Gideon Moi, a senator and the son of the former president, and Isaac Ruto, a county governor (no relation to William), are two potential challengers.
The government also faces two further challenges to its popularity. The first is a slowing economy. Despite the fall in oil prices and a weaker currency, flower exporters say their margins are narrowing, mainly because many of their costs are incurred in strengthening dollars. Inflation is surging. So too are interest rates as the central bank tries to stabilise a currency that has fallen sharply. Another issue is that instead of the usual pre-election splurge, the government is having to tighten its belt to deal with a fiscal deficit that reached almost 9% of GDP in 2015. Whatever happens in the run-up to elections, the Rift Valley will be at the centre of it.
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Eveready East Africa Ltd.reports FY EPS 2.80 versus [0.85] Earnings here Kenyan Economy |
Par Value: 1/- Closing Price: 2.80 Total Shares Issued: 210000000.00 Market Capitalization: 588,000,000 EPS: 2.80 PE: 1.00
Kenyan battery manufacturer.
Eveready East Africa Limited Full Year through 30th September 2015 vs 30th September 2014 (restated) FY Revenue 1.132136b vs. 1.216580b -6.94% FY Operating profit 11.872m vs. 54.811m -78.340% FY Plant closure costs [6.702m] vs. [246.342m] -94.279% FY Finance costs [104.082m] vs. [56.483m] +84.271% FY Loss for the year [77.710m] vs. [177.590m] -56.242% FY Other comprehensive income 665.533m vs. 0.107m FY Total comprehensive profit/[Loss] per year 587.823m vs. [177.453m] +431.226% FY EPS 2.80 vs. [0.85] +429.412% Total assets 1.511665b vs. 0.930057b +62.535% FY Net cash generated from operating activities 1.196m vs. [146.233m] +100.818% FY Net cash from investing activities 56.213m vs. [11.134m] +6204. 877% FY Net cash from financing activities [57.083m] vs. [2.364m] +2314.679% FY Total cash movement for the year 0.326m vs. [159.731m] -100.204% FY Total cash at the end of the year [285.519m] vs. [285.845m] -0.114%
Conclusions
revalued their Nakuru Property
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