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Wednesday 19th of October 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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It's Jacaranda season Good Morning from Nairobi #JacarandaPropaganda Africa |
“I had all the characteristics of a human being—flesh, blood, skin, hair—but my depersonalization was so intense, had gone so deep, that my normal ability to feel compassion had been eradicated, the victim of a slow, purposeful erasure. I was simply imitating reality, a rough resemblance of a human being, with only a dim corner of my mind functioning” ― Bret Easton Ellis, American Psycho
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Emirates says may cut Africa flights because of economic challenges Africa |
Foreign airlines flying to Nigeria have started to refuel abroad because jet fuel supplies there have become more expensive and scarce as the country battles a hard currency shortage.
Emirates has started a detour to Accra, Ghana to refuel its daily Abuja-bound flight, a spokesman said last month; the airline had already cut its twice-daily flights to Lagos and Abuja to just one.
"In certain African countries, the currencies have really gone down, so we're reflecting on a number of these to look at where it's just not worth us to travel," Clark said on the sidelines of an International Air Transport Association event.
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17-OCT-2016 :: Ethiopia's Reputation Shattered by Political Tensions @TheStarKenya Africa |
I recall reading e Emperor by Ryszard Kapuściński and in that book Kapuściński recounts the tale of Lulu, Haile Selassie’s lap dog that was allowed to piss on the shoes of dignitaries, and the courtier whose job for 10 years was to wipe those shoes clean with a satin cloth. at book also speaks to how the cushion bearer [ e Emperor was very short and therefore had to perched on cushions so as not to be beneath his subjects] became an all-powerful figure at the Imperial Court. Kapuściński was subsequently trashed for his poetic licence in his reportage but I accept his mea culpa:
“You don’t understand a thing. I’m not writing so the details add up – the point is the essence of the matter.”
We are more than a decade down the road from that time and what is clear now is that the dissent has metasized to the point that the regime has seen fit to impose a six month state of emergency.
The government need to change tack and effect a course correction and history shows us that this course correction is one of the most difficult things to pull off.
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Shelves go bare in Egypt as soaring sugar prices catch government off guard Africa |
Borrowing a cup of sugar from your neighbour has rarely been so contentious in Egypt.
At supermarkets across the country sugar has all but vanished, prompting media talk of a crisis and pushing the state to rapidly increase imports despite an acute dollar shortage and soaring global prices of the sweetener.
Egypt consumes around 3 million tonnes of sugar annually but produces just over 2 million tonnes, with the gap filled by imports, usually between July and October when local beet and sugar cane supplies have wound down.
But traders said high global sugar prices, which surged 50 percent over the past year, combined with a rising black market rate for dollars has made it too expensive and risky for many importers to obtain sugar in recent months.
Importers have no choice but to turn to the black market to get dollars, as banks ration meagre supplies, paying 15 Egyptian pounds or more per dollar versus an official rate of 8.8. At such rates, more and more traders say they can no longer buy.
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Uganda Reduces Key Rate to 13 Percent to Support Economy Africa |
The Bank of Uganda lowered its benchmark interest rate by 100 basis points to 13 percent, saying slowing inflation gave it room to support flagging growth.
Two of three analysts surveyed by Bloomberg predicted the reduction, while one expected policy makers to keep the benchmark rate at 14 percent. The monetary policy committee has cut the rate by a total 300 basis points in the past three meetings.
“Given that core inflation is forecast to remain around the medium-term target of 5 percent over the next 12 months, there is room to support the domestic economic growth momentum especially against the global economic slowdown,” Governor Emmanuel Tumusiime-Mutebile told reporters in the capital, Kampala. “Therefore, the BOU believes that there is scope to ease monetary policy.”
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Fifteen years ago, a South African media company invested $34 million in an obscure Chinese Internet developer. Today that stake is worth $88 billion. Africa |
All Naspers Ltd., now Africa’s most valuable company, has to do is figure out how to make money from its other properties: The whole company is worth only $72 billion, less than its stake in Shenzhen-based Tencent Holdings Ltd. Investors aren’t impressed with Naspers’s operations in pay-TV, newspapers and e-commerce in such countries as South Africa, Russia and India. To win them over, Chief Executive Officer Bob Van Dijk has launched an aggressive push to sell some assets, invest in others and expand operations such as classified advertising into new markets. If it pays off, comparisons with Tencent could become more flattering.
The valuation gap is an “opportunity for long-term investors who have done their homework” on Naspers’s e-commerce components, said Ruan Stander, a money manager at Cape Town-based Allan Gray, which owns Naspers shares. “The headline accounting numbers can mislead you into thinking these businesses are failing,” yet they need a period of loss-making to establish themselves in the marketplace, he said.
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Kenya poised for another first in mobile money revolution @BD_AFrica #Gameofphone Kenyan Economy |
Kenya is poised to enter a new mobile money economy era, judging by the steady rise in cashless transactions for goods and services.
A new study by consultancy firm Deloitte says Kenya is ripe for a mobile money revolution and urges local businesses to align their sales models with the emerging reality to stay ahead of the competition.
The impending mobile payments revolution marks yet another first for Kenya, which has been a front-runner in mobile payments backed by innovations such as mobile money transfer service, M-Pesa.
The Deloitte report says the continued uptake of mobile payments by consumers has reached a critical point where it is posing a threat to traditional retail models based on cash payments.
The study found that 11 per cent of Kenyan consumers are already using mobile payments – more than five times Nigeria’s two per cent, nearly three times South Africa and Uganda’s four per cent and ahead of Zimbabwe’s seven per cent.
The figures represent only transactions paid for using mobile money, and excludes mobile money transfers.
The Deloitte study also found out that Kenya remains way ahead of its African peers on the use of mobile money transfers. The study found that 33 per cent of Kenyans are making mobile transfers compared to Nigeria’s 11 per cent, South Africa (15 per cent), and Zimbabwe (11 per cent).
Kenyan consumers were also found to be adopting mobile money faster than their African peers, placing the country in pole position to becoming the region’s first digital economy.
“The level of adoption of these services is currently low and the gap represents a significant monetization opportunity for operators,” the Deloitte report says, adding that 50 per cent or more of the mobile phone users had demonstrated a willingness to go cashless.
The report urges businesses to tap the anticipated mobile money opportunities by investing in understanding consumer behaviour to stay ahead of the competition.
“The holy grail of retail right now is understanding shopper behaviour live. As they move around you want to impact their decision to buy while they are in the store,” Deloitte Advisory Leader for East Africa Rodger George said when he released the report on consumer trends.
Prof George, who is also a visiting professor at the University of Cape Town’s Graduate School of Business , said Kenyan businesses must do more to tap into the huge opportunities that are emerging in the mobile phone economy.
The study found that 71 per cent of Kenyans look at their phones within five minutes of waking up with a further 53 per cent looking at their phones before sleeping.
“As smartphones become ever more embedded in our lives, we see new opportunities and challenges for the mobile sector, retailers and advertisers,” said Deloitte.
Some 53,000 respondents across 30 countries, including South Africa, Nigeria, Kenya, Uganda and Zimbabwe were surveyed.
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N.S.E Today |
In the International Markets The Kingdom of Saudi Arabia is set to push the Sell Button on a Record Sale of $17.5 Billion of Sovereign Bonds. The Bank of Uganda reduced interest rates by 100 basis points. The Nairobi All Share rowed back -0.50 points to close at 136.13. The Nairobi NSE20 eased back 10.67 points to close at 3239.00 Equity Turnover clocked 262.487m more than the previous session but still way below par for 2016.
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N.S.E Equities - Agricultural |
Sasini Tea and Coffee ratcheted +7.799% higher to close at 19.35 and traded light just 10,100 shares.
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N.S.E Equities - Commercial & Services |
Kenyanwallstreet reported that BlackRock Fund Advisors acquired 72.08 Million Safaricom Shares worth Ksh 1.4Billion earlier this month further confirming Safaricom's accession on to the Radar of the World's Biggest Investors. Safaricom eased -0.25% to close at 19.70 and traded 1.854m shares. I would surmise that BlackRock will be coming back for more shares.
Kenya Airways continues to reap a ''Michael Joseph'' dividend and the share price today surged +8.33% to close at 5.20 a 2016 closing High. Todays move was executed on good trading volume of 1.859m shares. Kenya Airways is +50.72% over the last 4 weeks and is now +6.122% in 2016. The share price which was ''bombed out'' is rebounding on the basis that Mr. Joseph has the bona fides to secure the long term Funding and Future of the Pride of Africa.
@KenyaAirways share price data +6.122% in 2016 http://www.rich.co.ke/rcdata/company.php?i=OA%3D%3D
TPS Serena Hotels eased -1.91% to close at 18.00 and traded 1.035m shares. TPS Serena has seen good two way volume action at this level of -28.00% in 2016.
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N.S.E Equities - Finance & Investment |
NIC Bank was the most actively traded Banking share for the second consecutive session. NIC Bank closed unchanged at 27.50 [-36.41% in 2016] and traded 1.658m shares worth 45.61m making that a cumulative total 2.821m shares and 0.44% of its shares traded over 2 sessions.
NIC Bank share price data here -36.41% 2016 http://www.rich.co.ke/rcdata/company.php?i=MjM%3D
Standard Chartered firmed +0.54% to close at 185.00 and traded 59,100 shares. Stanchart is +16.15% on a Total Return Basis in 2016 vastly outperforming its Peers and the broader Indices. A Lot is going right here and at the PLC Level and the share price action in 2016 is an accurate reflection of that fact. Barclays Bank eased -1.24% to close at 7.95 a 3 week Low. Barclays Bank is -32.72% in 2016 on a Total Return Basis but part of that retreat is related to Barclays PLC's very public announcement of their desire to exit Africa.
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N.S.E Equities - Industrial & Allied |
Atlas which has been delisted in London [where to held a listing] did not trade. Investors are -50% in 2016 after taking a fearful battering in 2015. Atlas was in the Oil and Gas support business but is now promoting on-line gambling in Nigeria.
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