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Satchu's Rich Wrap-Up
 
 
Monday 04th of December 2017
 
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Africa

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Macro Thoughts

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Fort Jesus Mombasa and the Mombasa Club
Africa


Watched The Revenant and its good.

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Ce a quoi aspirent nos jeunesses @EmmanuelMacron
Law & Politics


Quand j’écoute la jeunesse africaine, elle ne demande pas d’aide, elle
demande d’avoir les mêmes opportunités que la jeunesse européenne.

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Macron gives France its Mojo back @TheStarKenya
Law & Politics


I have known France since I visited with my Grand Father when I was 9.
In my Gap Year, My Friend Alexander Michaelis and I drove his Alfa-Sud
from London all the way down to the South of France. Then in the
1990s, I traded the French Book and visited frequently. I used to
swing a big line then and once bought the entire Treasury Bill Auction
[BTFs (Bons du Trésor à taux fixe et à intérêts précomptés) are
fixed-rate short-term discount Treasury bills issued by the French
debt agency Agence France Trésor] and even received a Call from the
Central Bank Governor of the time Jean-Claude Trichet. The 1990s were
a seriously volatile period, the French Franc was tracking the
Deutsche Mark and George Soros was prone to short sell French Assets
[as was his wont]. Jacques Chirac was the President and Alain Juppe
his Prime Minister. In those heady days, I used to stay in the Aga
Khan's favourite suite at the Hotel Meurice. I spent last week in
Paris at the invitation of the outstanding French Economic Counsellor
Benoit Gauthier and as we criss crossed the City and visited Station F
[billed as the world's largest start-up incubator, with space for more
than 1,000 start-ups. It was launched in July by billionaire telecom
entrepreneur Xavier Niel with 250 million euros ($290 million) of his
own money. Just four months since opening, all 3,000 workspaces at the
incubator are taken] and the likes of Banque publique d'investissement
[BPI] where I was asked to make some comments I said this;

''My observation is this; France has got its Mojo back''

It is quite remarkable and Macron is a political Phenomenon.
President Macron [who arm-wrestled Donald trump to a standstill] is 39
Years old, he upended a Political System that had been in play since
WW11 under the Banner En Marche!, a centrist political movement he
founded in April 2016, and won the election on 7 May 2017. Macron's
party, renamed "La République En Marche!", together with its ally the
Democratic Movement (MoDem), secured a comfortable majority in the
National Assembly, winning 350 seats out of 577, with his party alone
winning an outright majority of 308 seats. Macron's Party was a
Start-Up and Macron told attendees at VivaTech, an entrepreneurial
conference in Paris last June;

"I want France to be a start-up nation, A nation that thinks and moves
like a start-up."

France is the second-biggest economy in the eurozone and is forecast
by President Emmanuel Macron’s government to grow 1.7% in 2017, which
would mark its strongest performance since 2011. Third quarter gross
domestic product growth reading of 0.5% was in line with an earlier
estimate, and followed growth of 0.6% in the second quarter.

Leadership is both an Art and a Science and Macron is displaying c21st
Leadership skills par excellence and this type of leadership is
translating into a broad-based rising tide. Last week President Macron
also reset the narrative in France's relations with Africa. He said

“I am from a generation for whom Nelson Mandela’s victory is one of
the best political memories.”

“You speak to me like I‘m a colonial power, but I don’t want to look
after electricity in Burkina Faso. That’s the work of your president.”

The Colonial Struggle is a historical footnote for more than 80% of
Africans. There are many African Leaders who have relied on the
laurels of their colonial struggle but they are exiting stage left and
at speed [Mugabe and Dos Santos refer]. Macron is helping to turn the
page.

As we whizzed by Notre Dame I recalled something from Victor Hugo's
Les Miserables.

“There is nothing like a dream to create the future.''

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Implied probability of Trump not seeing out his term in office rises to 59% on the Flynn developments, says Betfair @ReutersJamie
Law & Politics


Implied probability of Trump not seeing out his term in office rises
to 59% on the Flynn developments, says Betfair. “Punters are
increasingly confident that this is one mess Trump will not be able to
tweet his way out of.”

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Even then, however, impeachment would be a leap. Mr Mueller can indict anyone he likes except the sitting president. That job belongs to Congress.
Law & Politics


Might he fire Mr Mueller? The last time Mr Trump contemplated sacking
the special counsel was in July when the FBI raided the home of Paul
Manafort, Mr Trump’s former campaign chairman, who was indicted on
several counts in October. As the investigative noose tightens, that
temptation will return. Axing Mr Mueller would be an obstruction
Congress would be hard-pressed to ignore. Yet Mr Trump may find it
hard to resist it.

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"On or about December 22, 2016, a very senior member of the Presidential Transition Team directed Flynn to contact officials from foreign governments, including Russia..."
Law & Politics


Special counsel's statement of offense: "On or about December 22,
2016, a very senior member of the Presidential Transition Team
directed Flynn to contact officials from foreign governments,
including Russia..."

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19/ So it's entirely possible that when Mueller called Kushner in to talk about Flynn, he already had everything Flynn planned to give him @SethAbramson
Law & Politics


19/ So it's entirely possible that when Mueller called Kushner in to
talk about Flynn, he already had everything Flynn planned to give
him—meaning he was *testing* Kushner to see if Kushner would lie about
events Mueller was already fully informed about via Flynn's prior
proffer.

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6/ Deals like this are offered *only* when a witness can incriminate someone "higher up the food-chain" than them @SethAbramson
Law & Politics


6/ Deals like this are offered *only* when a witness can incriminate
someone "higher up the food-chain" than them. In the case of the
nation's former National Security Advisor, the *only* people above him
in the executive-branch hierarchy are the President and the Vice
President.

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I had to fire General Flynn because he lied to the Vice President and the FBI. @realdonaldtrump
Law & Politics


I had to fire General Flynn because he lied to the Vice President and
the FBI. He has pled guilty to those lies. It is a shame because his
actions during the transition were lawful. There was nothing to hide!

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There's your obstruction case. @jonfavs
Law & Politics


The President asked his FBI Director to let his National Security
Advisor off the hook for committing the crime of lying to the FBI.
When Comey refused, he was fired.

There’s your obstruction case.

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"The fact that Flynn was charged with, and is pleading guilty to, such a minor crime, suggests a bombshell of a deal with prosecutors," said Jens Ohlin
Law & Politics


“The fact that Flynn was charged with, and is pleading guilty to, such
a minor crime, suggests a bombshell of a deal with prosecutors,” said
Jens Ohlin, a professor of law at Cornell Law School.

“Flynn was facing serious criminal liability for a variety of alleged
missteps, including his failure to register as an agent of a foreign
power.”

He added: “If this is the entirety of the plea deal, the best
explanation for why Mueller would agree to it is that Flynn has
something very valuable to offer in exchange: damaging testimony on
someone else. Who? That’s not clear, but it probably is someone at the
centre, or close to the centre, of this criminal enterprise.”

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Michael Flynn, General Chaos @NewYorker
Law & Politics


“I want to go back to having an out-of-sight role,” he told me.

In a White House characterized by chaos and conflict—a Byzantine court
led by a reality-television star, family members, and a circle of
ideologues and loyalists—Flynn was finished.

Flynn remembered Election Night fondly, a moment of triumph. “I like
to think that I helped get Donald Trump elected President,” he told
me. “Maybe I helped a little, maybe a lot.” One of Trump’s first major
decisions was to appoint Flynn his national-security adviser, calling
him “an invaluable asset to me and my Administration.” Flynn told me,
“Service was something our family was always encouraged to do.” He
went on, “I made some mistakes, but I’m still serving. It’s like being
a priest, you know. I’ve been called to serve.”

“This story is bigger than Mike Flynn,” the senior military
intelligence official said. “Who told Mike to go do this? I think
somebody said, ‘Mike, you’ve got some contacts. Let them know it’s
gonna be all right.’ Mike’s a soldier. He did not go rogue.”

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05-DEC-2016:: "We have a deviate, Tomahawk."
Law & Politics


The specialist is monitoring data on his mission console when a voice
breaks in, “a voice that carried with it a strange and unspecifiable
poignancy”.
He checks in with his flight-dynamics and conceptual- paradigm
officers at Colorado Command:
“We have a deviate, Tomahawk.”
“We copy. There’s a voice.”
“We have gross oscillation here.”
“There’s some interference. I have gone redundant but I’m not sure
it’s helping.”
“We are clearing an outframe to locate source.”
“ Thank you, Colorado.”
“It is probably just selective noise. You are negative red on the
step-function quad.”
“It was a voice,” I told them.
“We have just received an affirm on selective noise... We will
correct, Tomahawk. In the meantime, advise you to stay redundant.”
The voice, in contrast to Colorado’s metallic pidgin, is a melange of
repartee, laughter, and song, with a “quality of purest, sweetest
sadness”.
“Somehow we are picking up signals from radio programmes of 40, 50, 60
years ago.”

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05-DEC-2016::I have no doubt that Putin ran a seriously 21st predominantly digital programme of interference which amplified the Trump candidacy.
Law & Politics


POTUS Trump was an ideal candidate for this kind of support.

Beppe Grillo, the comic turned leader of the Five Star movement in
Italy said: ''This is the deflagration of an epoch. It’s the
apocalypse of this information system, of the TVs, of the big
newspapers, of the intellectuals, of the journalists.”

He is right, traditional media has been disrupted and the insurgents
can broadcast live and over the top. From feeding the hot-house
conspiracy frenzy on line (‘’a constant state of destabilised
perception’’), timely and judicious doses of Wikileaks leaks which
drained Hillary’s bona fides and her turn-out and motivated Trump’s,
what we have witnessed is something remarkable and noteworthy.

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.1873
Dollar Index 92.89
Japan Yen 112.75
Swiss Franc 0.9824
Pound 1.3468
Aussie 0.7602
India Rupee 64.586
South Korea Won 1089.76
Brazil Real 3.2582
Egypt Pound 17.7130
South Africa Rand 13.7738

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Angola's new president flushes out his predecessor's wealthy clan @TheEconomist
Africa


WHEN João Lourenço said on the eve of Angola’s election in August
that, as president, he would have “all the power”, few took him
seriously. The former defence minister had been hand-picked by José
Eduardo dos Santos, Angola’s president for 38 years, seemingly as part
of a deal to protect his interests. The opposition dubbed him “the
chauffeur”, since Mr dos Santos would tell him where to go.

Two months into his presidency, though, the chauffeur seems not to be
taking directions. On November 15th he suddenly sacked Mr dos Santos’s
flamboyant and ultra-wealthy elder daughter, Isabel dos Santos, from
her job at the head of Sonangol, the national oil company. That was
followed by the cancellation of a lucrative contract between the state
television company and a media company owned by two of Mr dos Santos’s
younger children.

Then, on November 20th, in defiance of a law introduced by his
predecessor, Mr Lourenço fired the police chief and the head of the
intelligence agency. In Luanda, the fabulously expensive coastal
capital, rumours fly that another of the ex-president’s children, José
Filomeno dos Santos, the head of the $5bn sovereign-wealth fund, will
be next for the chop. One of Ms dos Santos’s other interests, Unitel,
a mobile-phone company with a near-monopoly, could face more
competition.

Some even wonder if José Eduardo himself, who is still chairman of the
People’s Movement for the Liberation of Angola (known as the MPLA from
its Portuguese initials), the country’s ruling party, might be under
threat. The new president has not been discreet about his ambitions,
says Paula Roque, a researcher at Oxford University. By sacking Ms dos
Santos and taking over the security apparatus, Mr Lourenço has seized
control of two of the three main sources of power in Angola.

The third is the MPLA. And behind the scenes, party veterans are
trying to persuade the former president, who has not been seen in
public since the end of October, to step down as party leader early
next year. “It’s become clear just how sick and tired the country was
with how things were,” says Paulo Faria, a professor of politics at
Agostinho Neto University in Luanda. “Successful resistance from
within the party seems unlikely.”

Mr Lourenço’s assault on the former president’s gilded empire is
winning over at least some Angolans. On social media many have shared
an image from “The Terminator”, a film, with Mr Lourenço’s face
replacing that of the he-man star, Arnold Schwarzenegger. Two guns
held aloft, the caption reads: “The Relentless Remover”. The
presidential motorcade is said to stop now at red lights. Mr Lourenço
was seen queuing for a meal at KFC, a fast-food chain. In a country
where the rich and powerful have been above the law for years, such
small gestures have carried weight. Even the previous government’s
loudest critics have come out in support. Luaty Beirao, an Angolan
rapper and activist who was jailed by the old administration, said he
was stunned by Mr Lourenço’s actions, calling it a “revolution”.

Will Mr Lourenço’s revolution really transform Angola? The country is
in a terrible state. After the end of the civil war in 2002, oil
wealth started to flow, bringing new roads and fancy skyscrapers to
Luanda. Thanks to epic corruption, little has filtered down. Most
Angolans live in penury. Life expectancy is barely 60 years. So dire
are health facilities that last year Angola suffered the world’s worst
outbreak of yellow fever in decades.

These days there is less money to go around. Economic growth has
slowed since 2014, when the price of oil, which makes up over 90% of
exports (the rest is almost all diamonds), collapsed. Despite tight
monetary policy the currency, the kwanza, trades on the black market
at just 40% of the official rate. Reliable data are almost
non-existent, so it is unclear exactly how much the government owes
international creditors. But the amount has certainly soared. Much of
it is owed to China, on terms that are far from generous.

Rafael Marques de Morais, a journalist and anti-corruption activist,
fears that not much will change. He thinks Mr Lourenço had little
choice but to go after the president’s children. “Isabel was
strangling Sonangol with her incompetence,” he says. But, he adds,
more junior members of the dos Santos family are still “everywhere in
government, in economic and social affairs”. And there is little hint
that Mr Lourenço’s government intends to go after corruption or try to
build solid institutions to replace the dos Santos’s system of
patronage. “He’s not even trying to find figures who have a better
reputation,” says Mr Marques de Morais of the new president’s
appointees.

That said, by weakening the dos Santos clan, and so quickly after
taking office, Mr Lourenço has made a strong start. For as long as Mr
dos Santos held the reins, “you could not conceive of genuine reform,”
says Ricardo Soares de Oliveira, also of Oxford University. The
elderly ex-president warped his country’s post-independence history.
With him removed from the picture, perhaps things can start to change
for the better.

Conclusions

João Lourenço is burning the ground underneath Dos Santos' feet.

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Zimbabwe's military muscles into first post-Mugabe cabinet
Africa


Sworn in as president a week ago after 93-year-old Mugabe quit in the
wake of a de facto military coup, Mnangagwa made Major-General
Sibusiso Moyo foreign minister and handed Air Marshal Perrance Shiri
the sensitive land portfolio.

Shiri is feared - and loathed - by many Zimbabweans as the former
commander of the North Korean-trained ‘5 Brigade’ that played a
central role in the so-called Gukurahundi massacres in Matabeleland in
1983 in which an estimated 20,000 people were killed.

“Zimbabweans were expecting a sea change from the Mugabe era. After
all, had there not been a revolution, or so they thought?” Magaisa
said.

New information minister Chris Mutsvangwa, leader of the powerful
liberation war veterans, was not immediately available for comment.

“I had expected a more broad-based cabinet,” said economist Anthony
Hawkins, adding that Mnangagwa’s faith in Chinamasa suggested loyalty
trumped ability. “Chinamasa’s appointment was to be expected,
notwithstanding his appalling record.”

With elections due next year, Mnangagwa needs to deliver a quick
economic bounce and has made clear he wants to curb wasteful
expenditure, pointing out that his cabinet has 22 ministers compared
to Mugabe’s 33.

Conclusions

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"The essence of this is that you compromise the head of state, that you have the head of state in your pocket," Sipho Pityana FT
Africa


“The essence of this is that you compromise the head of state, that
you have the head of state in your pocket,” says Sipho Pityana, a
disillusioned veteran of the ANC’s struggle against apartheid and
chairman of mining company AngloGold Ashanti. “You disable all the law
enforcement institutions and you enable unfettered access to people
who owe their positions in office to the pleasure of the president,”
he says.

“You have virtual, unfettered right to appoint and fire very senior
people in government, including cabinet ministers, intelligence
officers, state-owned enterprise people and all key strategic
appointments that you think would obstruct or enable your way into the
state coffers,” he says. “It is a single-minded penetration of state
resources.”

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Supermarket Chain's Collapse Shows Perils of Africa's Hottest Retail Market
Africa


NAIROBI, Kenya—The near-empty shelves and deserted aisles at a
sprawling outlet of Kenya’s homegrown supermarket giant, Nakumatt
Holdings Ltd., here are reminders of the risks—and
opportunities—presented by East Africa’s biggest retail market.

The family-run retailer was once emblematic of the “Africa Rising”
narrative of a rapidly growing urban consumer class and local
champions outmaneuvering larger, foreign competitors. At its height in
2014, Nakumatt took over the Tanzanian stores of South Africa-based
Shoprite Holdings Ltd. SHP 2.23% , the continent’s largest retailer.

Then in late October, Nakumatt filed for bankruptcy after a series of
ill-fated decisions including the introduction of a private label
line, an overreliance on unsecured, short-term debt that dried up
after the collapse of three Kenyan banks, and other events including
floods and a terrorist attack.

The chain’s demise illustrates the challenges faced by multinational
retailers trying to build a presence here. Companies from French
retail giant Carrefour SA to Wal-Mart Stores Inc.’s Massmart Holdings
Ltd. MSM 4.48% , have grappled with how to gain and maintain a
foothold in one of Africa’s most mature consumer markets while
navigating the operating and financing pitfalls.

Those challenges deepened in recent months: The International Monetary
Fund cut its growth forecast to 5% from nearly 6% amid the prolonged
political turmoil following the annulment of Kenya’s August
presidential elections and October’s court-ordered repeat vote.

Still, with a largely English-speaking population of 48 million, Kenya
remains an attractive target for retailers, according to analysts and
retailers. They say Nakumatt’s downfall created an opening for
multinationals looking to gain entrance—or increase their presence—in
Kenya’s retail market, which market-research firm Euromonitor
International values at around $12.35 billion.

Carrefour is in the process of taking over two of Nakumatt’s outlets,
its third and fourth Kenyan stores in under two years. The French
chain’s local franchisee, Dubai-based holding company Majid Al Futtaim
Holding LLC, said it continues to seek opportunities to open
additional stores in Kenya.

Massmart opened one outlet of its general merchandise and food
retailer Game in 2015, and said it doesn’t currently have a second
Kenyan store planned. One stumbling block has been a lack of visitors
to the mall where Massmart’s store is situated.

“With the proliferation of new malls and multiple international
retailers entering Nairobi, consumers are now spoilt for choice,” said
Richard Fuller, Game Africa director. “Our biggest challenge with only
having one store in the city for now, was to create mass awareness of
the Game brand and generate a vast pull factor to get Kenyans to
travel from far to our store.”

Malls have opened at a blistering pace across Nairobi over the past
three years, but many of them have struggled to fill space.

“The local retailers couldn’t handle the cost of opening multiple
branches in those centers within a fairly short period of time,” said
Nicholas Corbishley, head of Africa investments at Old Mutual
Property, a South African real-estate developer, which is a 50%
shareholder in Nairobi’s Two Rivers Mall.

That shouldn’t pose such a challenge for deeper-pocketed multinational
retailers, which have access to cheaper financing than a purely
homegrown company and can pay more for the prime locations.

Shoprite, which operates some 2,700 stores across Africa, has no
presence in Kenya—yet. Analysts say they expect the South African
retailer to take over some of Nakumatt’s current stores. Shoprite said
it has no confirmed plans for Kenya, but told The Wall Street Journal
it “is ready to enter the market if suitable premises become
available.”

Analysts say more-specialized stores, such as grocery-focused
Carrefour, could be more attractive to Kenya’s growing and
increasingly sophisticated middle class, than Nakumatt’s catchall
stores where lawn mowers and wedding dresses could be purchased in one
place.

Multinationals still will have to deal with the business interruptions
faced by Nakumatt, from the recent election-related violence to
terrorist attacks to getting goods out of Kenya’s notoriously slow
Mombasa port.

Kenyan consumers also can be fiercely loyal to local favorites, a
preference that has tripped up foreign consumer companies in the past.

About two decades ago, South African Breweries Ltd.—now part of
Anheuser-Busch InBev—entered the Kenyan beer market, sparking what the
local media dubbed “the beer wars.” East African Breweries Ltd., which
produces Kenya’s No. 1 and No. 2 beers by market share and was
acquired by Diageo in 2000, cut costs and spent more on marketing,
appealing to Kenyan’s strong sense of nationalism with the slogan for
its most popular beer, Tusker: ‘’My country, my beer.’’

SAB eventually pulled out of the Kenyan market.

“You have to take a relatively long-term view,” said Chris Newson,
director of private markets at Investec Asset Management in London.

Despite the challenges, “[Local companies] are tough competitors. You
have to find a way to be local.”

read more


Williamson Tea reports H1 2017 PBT 61.958m +116.484% Earnings share price -6.74% 2017
Africa


Par Value:                  5/-
Closing Price:           166.00
Total Shares Issued:          17512640.00
Market Capitalization:        2,907,098,240
EPS:             -13.73
PE:                 -12.090

Williamson Tea Kenya PLC H1 results through 30th September 2017 vs.
30th September 2016
H1 Turnover 1.737176b vs. 1.731368b +0.335%
H1 [Loss]/ profit from operations before biological assets valuation
27.744m vs. [96.276m] +128.817%
H1 Increase/ [decrease] in fair value of biological assets 17.059m vs.
[200.478m] +108.509%
H1 Finance income/ [costs] 24.916m vs. [28.438m] +187.615%
H1 Share of results of associated companies [7.761m] vs. [50.685m] +84.688%
H1 Profit/ [Loss] before taxation 61.958m vs. [375.877m] +116.484%
H1 Profit attributable to equity holders of the parent 51.371m vs.
[231.306m] +122.209%
H1 Profit attributable to non-controlling interests [8.000m] vs.
[31.809m] +74.850%
H1 Profit/ [Loss] arising from operating activities 42.275m vs.
[89.136m] +147.428%
H1 Profit/ [Loss] arising from changes in fair value of biological
assets 9.096m vs. [142.170m] +106.398%
H1 Earnings/ [Loss] per share 2.93 vs. [13.21] +122.180%
Total assets 8.621686b
Total equity 5.962516b
Cash and cash equivalents at 30th September 861.164m vs. 701.529m

Company Commentary

Tea production was low not only for the Group but across the Tea
Industry due to severe drought conditions experienced in the first few
months of the year. reduced supplies were met with good demand which
boosted prices during the period under review.
Group reported a profit during the 6 months mainly from investment and
other non-operational activities.
Cost of production remains the biggest concern for the Group and the
tea industry at large.
a much publicised strike orchestrated illegally by Union Leaders in
the month of October and early November resulting in major losses
which will affect performance for the next 6 months.
The Future therefore remains very unpredictable.

Conclusions

Market Cap is 2.9b versus Total Equity of 5.96b which is before
marking the real estate to market.

read more


Kapchorua Tea reports H1 2017 Earnings PBT -20.778m here share price -5.000% in 2017
Africa


Par Value:                  5/-
Closing Price:           76.00
Total Shares Issued:          7824000.00
Market Capitalization:        594,624,000
EPS:             -6.62
PE:                 -11.480

H1 Turnover 562.888m vs. 675.744m -16.701%
H1 [Loss]/ profit from operations before biological assets valuation
[35.164m] vs. [60.501m] -41.879%
H1 Increase/ [decrease] in fair value of biological assets 10.466m vs.
[62.328m] +116.792%
H1 Finance income/ [costs] 3.920m vs. [5.294m] +174.046%
H1 Loss before taxation [20.778m] vs. [128.123m] +83.783%
H1 Loss for the period [14.545m] vs. [89.686m] -83.782%
H1 Loss arising from operating activities [21.871m] vs. [46.057m] -52.513%
H1 Profit/ [Loss] arising from changes in fair value of biological
assets 7.326m vs. [43.630m] +116.791%
H1 Loss per share [1.86] vs. [11.46] +83.770%
Total assets 2.168647b
Shareholders’ funds 1.377485b
Cash and cash equivalents at 30th September 171.440m vs. 53.533m +220.251%

Company Commentary

Tea production was low not only for the Group but across the Tea
Industry due to severe drought conditions experienced in the first few
months of the year. reduced supplies were met with good demand which
boosted prices during the period under review.
Group reported a profit during the 6 months mainly from investment and
other non-operational activities.
Cost of production remains the biggest concern for the Group and the
tea industry at large.
a much publicised strike orchestrated illegally by Union Leaders in
the month of October and early November resulting in major losses
which will affect performance for the next 6 months.
The Future therefore remains very unpredictable.

Conclusions

Market Cap is 594.62m versus Total Assets of 2.168b.
Big improvement but narrowly missed booking a profit.

read more


EABL starts local production of Captain Morgan rum
Africa


East African Breweries Limited (EABL) has started brewing Captain
Morgan Gold at its Ruaraka brewery in Nairobi as it seeks to tap into
the growing market of spirits drinkers.
The regional brewer, which has until now been importing the rum
produced by its parent firm Diageo, is now producing the premium
spirit in the 250ml bottle at a recommended retail price of Sh270.
Fred Otieno, Kenya Breweries Limited head of innovation, says they
will by June start producing the 750ml bottle that will retail at
Sh800, Sh400 cheaper than the imported version of the rum.
The regional brewer has in the past years seen sales of its beers such
as Guinness, Pilsner and Tusker dip while its spirits continue growing
by double digits.
“The fact that it is locally produced, using local inputs, means that
it will have a slightly different taste than the original,” Mr Otieno
told the Business Daily in an interview.

read more


EABL share price data here
Africa


Par Value:                  2/-
Closing Price:           241.00
Total Shares Issued:          790774356.00
Market Capitalization:        190,576,619,796
EPS:             9.71
PE:                 24.820

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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December 2017
 
 
 
 
 
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