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Satchu's Rich Wrap-Up
Tuesday 21st of March 2017

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Macro Thoughts

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@FaithKanja Mar 15 You can never get tired of Wasini's Sunset views.

Wasini Island lies in southeast Kenya 3 kilometres (1.9 mi) off the
coast of the Indian Ocean, 75 kilometres (47 mi) south of Mombasa, and
3 kilometres (1.9 mi) opposite the harbour of the village Shimoni. It
is approximately 7 kilometres (4.3 mi) long and 3 kilometres (1.9 mi)
across. The island has only footpaths of sharp old coral or sand.
There are no autocars, carts or bicycles. Cargo is transported by foot
or by a wheelbarrow with a solid tyre. Transport is over the paths, or
via the beaches, mainly consisting of coral and only passable with low
tide, or by boat over the sea. Before 1963, in the British colonial
time, there was an airstrip in the lagoon situated longitudinal south
on the island; only small parts of tarmac are reminders of this

The island has a population of about 3.000 living at the north coast
in the two villages Wasini and Mwkiro, respectively at the west and
east side of the island, and inland in the hamlet Nyuma Maji, which
means in Swahili 'behind the water'. In Wasini-village and Nyuma Maji
live the Bantu people the Vumba, whose mother tongue is the Swahili
dialect kivumba; in Mwkiro the Digo have their own mother tongue, the
Swahili dialect kidigo. Besides that they all speak Swahili and
sometimes English. The Vumba are of Arabic origin, may be a little bit
mixed with the Chinese. The Arabs came to the East-African coast in
the 1st century A.D. and after mixing with the Bantu people they
together formed the Coast or Swahili people. The Digo probably came
from the Persian Gulf in the 15th century A,D. Between the island and
the Tanzanian islands Pemba and Zanzibar south-east of the island in
the Indian Ocean consist strong cultural connections and family ties.
The population is for about 99% Muslim, from liberal to orthodox. (See
note 1).

Often humpback whales and dolphins can be spotted in the immediate
surroundings of the island. Near the mainland humpback whales can
regularly be seen swimming northbound on the East African current. At
the east side of the island often dolphins are playing in the
seawater. On the island itself at the shore opposite of Wasini village
near the Kenyan Marine jetty beautiful coral fauna and flora can be
seen and be examined while snorkeling;

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One of the rarest animals on the planet, the black panther

“How many more times will you remember a certain afternoon of your
childhood, some afternoon that's so deeply a part of your being that
you can't even conceive of your life without it? Perhaps four or five
times more. Perhaps not even that. How many more times will you watch
the full moon rise? Perhaps twenty. And yet it all seems limitless.”
― [I am rereading some] Paul Bowles, The Sheltering Sky

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Highlights From the House Hearing on Russian Interference in the U.S. Election NYT
Law & Politics

James B. Comey, the F.B.I. director, confirmed early in Monday’s
hearing that the bureau is indeed, as has been widely reported,
investigating the interference by Russian intelligence in the 2016
American presidential election — including any possible collusion by
aides and associates of President Trump.

Mr. Comey said the investigation will cover “the nature of any links
between individuals associated with the Trump campaign and the Russian
government and whether there was any coordination between the campaign
and Russia’s efforts.”

The F.B.I. director noted that the inquiry is technically a
counterintelligence investigation, focusing not on criminal conduct
but on Russian intelligence activities. But he said F.B.I. agents will
conduct “an assessment of whether any crimes were committed.”

Mr. Comey noted that usual F.B.I. practice is “not to confirm the
existence of ongoing investigations,” and that the Justice Department
had approved his departure from that practice.

“I have no information that supports those tweets and we have looked
carefully inside the F.B.I.,” Mr. Comey said. “The Department of
Justice has asked me to share with you that the answer is the same for
the Department of Justice and all its components. The department has
no information that supports those tweets.”

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@TheRickWilson So far
Law & Politics

1. Trump was lying.
2. Russia was hacking us.
3. GCHQ didn't tap Trump.
4. The FBI is investigating.

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05-DEC-2016 :: my starting point is the election of President Trump because hindsight will surely show that Russia ran a seriously sophisticated programme of interference
Law & Politics

my starting point is the election of President Trump because hindsight
will surely show that Russia ran a seriously sophisticated programme
of interference, mostly digital.

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05-DEC-2016 :: The specialist is monitoring data on his mission console when a voice breaks in
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
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
“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
Law & Politics

I have no doubt that Putin ran a seriously 21st predominantly digital
programme of interference which amplified the Trump candidacy. POTUS
Trump was an ideal candidate for this kind of support.

Trump is a linguistic warfare specialist. Look at the names he gave
his opponents: Crooked Hillary, Lyin’ Ted, Little Marco, ‘Low-energy’
Jeb — were devastating and terminal.
The second thing is non-linearity, you have to learn how to navigate a
linear system (the new 21st digital ecosystem) in a non-linear way.

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 1.0780
Dollar Index 100.21
Japan Yen 112.74
Swiss Franc 0.9978
Pound 1.2354
Aussie 0.7710 Australia's central bank warns of "a build-up of risks
associated with the housing market"
India Rupee 65.375
South Korea Won 1119.61
Brazil Real 3.0724
Egypt Pound 18.1550
South Africa Rand 12.6624

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in many African states case for a structural adjustment of the polity is overwhelming @FT

The end of military rule 18 years ago in Nigeria heralded a bonanza
for an unexpected profession: furniture making. As newly elected
senators and members of the house of assembly gathered in the capital,
Abuja, furniture salesmen flocked in to tap the lavish living
allowances that legislators had been awarded. The national assembly
became an impromptu showroom for sofas and chairs. It was a sign of
trouble to come — and not only in Africa’s leading oil producer.

As Kenya’s president Uhuru Kenyatta put it in his state of the nation
address last week, the “staggering” cost of public sector wages —
including some of the world’s highest remuneration packages for
legislators — is destroying the east African nation’s development
agenda. Kenya’s auditor-general found recently that the annual cost of
the two-chamber body was equivalent to 2 per cent of the national
budget. By way of comparison, a 2012 UN study found the global average
for countries with populations of a similar size was 0.57 per cent.

Nor does that figure take into account the provincial assemblies that
have been created as Kenya has devolved power to its regions. Overall,
around half the government’s budget is spent on the salaries of the
roughly 2 per cent of the population employed by the state. Mr
Kenyatta argues that the sums left over for much-needed investment in
social and physical infrastructure are totally inadequate.

In Nigeria, the problem is even more acute. In some recent years, the
national assembly has consumed more than the combined budgets for
health and education. Meanwhile, the expansion in the number of states
over the years has multiplied the problem at that level, as many were
bankrupt even before the collapse in the world price of oil, which
typically accounts for two-thirds of federal revenue.

In Nigeria as in Kenya, it is not only the exorbitant salaries of
legislators that are of concern but the perks that come with them too.
Ghana has a similar problem.

Only Senegal has taken drastic measures to reverse this increasingly
disproportionate allocation of scarce resources. In 2012, the
Senegalese senate was scrapped to make way for spending on developing
defences against recurrent floods. “The relief of the suffering of the
people is more important than the senate,” the president, Macky Sall,
said at the time.

Political representation is central, of course, to any functioning
democracy. Moreover, elected office in developing nations often comes
with financial pressures without equivalent in the developed world.
Rewarding legislators handsomely should be one way to prevent them
succumbing to corruption. Yet neither in Nigeria nor Kenya, two
countries with patronage systems extravagant by African standards, is
there much evidence to show this spending is having the desired

Ethiopia’s authoritarian state is imperfect in many ways. But the
investment it has made in infrastructure and health over the past 20
years has been possible partly because government has succeeded in
keeping the cost of politics down.

In his bid to trim back the conspicuous consumption of elected
politicians, Mr Kenyatta has a powerful lobby set against him, as does
his counterpart in Nigeria, Muhammadu Buhari. After all, legislators
all too rarely vote against their own self-interest. Thankfully
Kenya’s president has the weight of popular opinion on his side. There
is a delicate balance to be struck. But in many African states the
case for a structural adjustment of the polity is becoming

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Kabila accuses Lungu of conniving with Katumbi to destabilise Congo

Democratic Republic of Congo president  Joseph Kabila is upset that
Edgar Lungu is conniving with Moise Katumbi to destabilise the Congo.

The government of Congo has written to Zambia complaining that Zambia
is hosting Katumbi who is planning to plunge the Congo into war.

The Congolese government says Katumbi is in the process of raising a
militia to wage war against the Congolese government but the Zambian
government is happy to grant him a visa.

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South Africa Seeks Ban on Foreigners Buying Agricultural Land

South Africa All Share Bloomberg +4.15% 2017


Dollar versus Rand 6 Month Chart INO 12.6624 [Trading Sell ZAR @ 12.6624]


Egypt Pound versus The Dollar 3 Month Chart INO 18.1550


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Cityscapes: Lagos, West Africa's playground New African

The traffic is a horror show, and there are too many people, but there
is something irresistibly vibrant and exciting about this city by the
sea that doubles as the teeming business hub of Africa’s largest
economy. It is definitely a playground but one for the adventurous –
the perfect place on the continent to re-invent yourself. With new
hotels and bars springing up, despite a national recession, Lagos is
also a place where the party might slow down but never stops. In
recent times, pleasure concentrates on the Island, notably the
districts of Ikoyi, Lagos Island and the Lekki Pennisula, but the
adventurous should get off the beaten track and check out
neighbourhoods on the mainland particularly Yaba and Ikeja, that offer
pockets of culture and excitement. -

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South Sudanese rebels said on Monday they had kidnapped four oil workers including a Pakistani national

South Sudanese rebels said on Monday they had kidnapped four oil
workers including a Pakistani national, in a bid to force their
Chinese and Malaysian consortium to leave the country.

The fighters loyal to former vice president Riek Machar said they had
seized the four working for DAR Petroleum Operating Company from Upper
Nile State on Saturday - the second group of oil workers abducted this

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A gun battle between two pastoralist communities competing for grazing killed least 10 people in northern Kenya on Sunday morning, police said
Kenyan Economy

A gun battle between two pastoralist communities competing for grazing
killed least 10 people in northern Kenya on Sunday morning, police
said, raising questions about the government's ability to maintain
peace before August elections.

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Kenya Shilling versus The Dollar Live ForexPros 103.09
Kenyan Economy

Nairobi All Share Bloomberg -4.6% 2017 [9 week closing High]


127.20 +0.59 +0.47%

Nairobi ^NSE20 Bloomberg -6.14% 2017 [9 week closing High]


2,990.70 +7.02 +0.24%

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N.S.E Today

Sterling ramped higher across the board as the 2.3% increase print in
the consumer prices index was the fastest since September 2013 and
above the median prediction for 2.1 percent.
The rate is up from just 0.3 percent a year ago, reflecting sterling’s
17 percent drop since the Brexit vote in June, as well as an increase
in oil prices.
Developments in the US where a Noose [Russia refers] tightened around
President Trump's neck triggered a Sell-off in the Dollar.
The Shilling was trading at 103.10.
The long-awaited M-AKiba Bond Gig [a mobile-phone based government
bond] will be launched this week.
The Nairobi All Share rallied +0.455% to close at a Fresh 10 week high
of 127.78 and has now narrowed its YTD Loss to -4.169%.
The Nairobi NSE20 Index rallied +0.575% crossed the important chart
level of 3,000 to close at 3,007.90.

N.S.E Equities - Commercial & Services

Safaricom firmed +0.55% to close at a 1 week high of 18.10. Safaricom
traded its slowest session of the year as just 511,900 shares were
traded and Sellers headed for the hills.

Kenya Airways closed lower at 5.30 but was trading at 6.00 +9.09%
session highs at the Finish. Thats a noteworthy development.

N.S.E Equities - Finance & Investment

KCB Group firmed +0.79% to score another Fresh 2017 closing High of
31.75 and closed out the session trading at 32.50 +3.17% at the
closing Bell. KCB is +10.434% in 2017 and vastly outperforming the
benchmark indices in 2017. The FY Dividend was a masterstroke.
COOP Bank firmed +1.07% to close at 14.15 and traded 2.329m shares.
COOP Bank is +7.196% in 2017.
Equity Bank was the most active share at the Exchange and closed
unchanged at 29.50 and traded 5.878m shares worth 174.478m. Equity is
-1.666% in 2017 and My Favourite remark from Equity's FY 16 Investor
Briefing was this;
“When quality becomes king, volume becomes vanity.'' Dr. James Mwangi.
I&M was high-ticked by the daily maximum of 10% to close at 93.50 on
just 300 shares of business.

N.S.E Equities - Industrial & Allied

KenGen closed unchanged at 6.55 and traded 3.657m shares. A Buyer has
been at work up to this very level for a while now and this
extinguishing of cheap supply is going to be very constructive for the
share price.

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

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