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Satchu's Rich Wrap-Up
 
 
Thursday 23rd of August 2018
 
Morning
Africa

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Macro Thoughts

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Africa


At 0453 GMT, the lira TRYTOM=D3 TRY= stood at 6.0314 against the
dollar, sticking close to Wednesday's close of 6.0330 and down 37
percent this year.

President Tayyip Erdogan’s spokesman said comments by President Donald
Trump’s national security adviser showed the United States is
targeting Turkey’s economy and he said it was not reflecting NATO’s
fundamental principles and values.

“His statement is proof that the Trump administration is targeting a
NATO ally as part of an economic war,” spokesman Ibrahim Kalin said in
a statement to Reuters late on Wednesday, responding to comments by
Trump adviser John Bolton.

“The Trump administration has ... established that it intends to use
trade, tariffs and sanctions to start a global trade war,” Kalin said,
pointing to similar disputes with Mexico, Canada, Europe and China.

Bolton told Reuters during a visit to Israel he was skeptical about
the pledge of $15 billion of investment support for Turkey by Qatar’s
emir, which was “utterly insufficient to have an impact on Turkey’s
economy.”

read more



20-AUG-2018 President Trump has apparently embraced a strong Dollar and of course coercive financial warfare and tweeted this on 16 August.
Africa


Our economy is doing better than ever. Money is pouring into our
cherished Dollar like rarely before, companies earnings are higher
than ever, infla- tion is low & business optimism is higher than it
has ever been. For the first time in many decades, we are protecting
our workers!

read more



13-AUG-2018 :: President Trump seems to be relishing his financial warfare strategies.
Africa


President Trump seems to be relishing his financial warfare
strategies. He has Khamenei on the run, Maduro in Venezuela is being
attacked by remote-controlled drone, Xi suddenly looks ever so
fragile.

read more






Scientists confirm water ice has been spotted at the moon's poles @SkyNews
Africa


The team has "directly observed definitive evidence" of ice deposits
on the surface of the moon using a scientific instrument that measures
how molecules absorb light.

read more



William Blake. The Tiger
Africa


TIGER, tiger, burning bright    
In the forests of the night,    
What immortal hand or eye       
Could frame thy fearful symmetry?       

Tiger, tiger, burning bright    
In the forests of the night,    
What immortal hand or eye       
Dare frame thy fearful symmetry?        

read more



"This is the moment all of Trump's anti-media rhetoric has been working toward" @washingtonpost
Law & Politics


Don’t believe your eyes and ears. Believe only me.

That has been President Trump’s message to the public for the past two
years, pounded in without a break: The press is the enemy. The news is
fake.

In raucous campaign rallies, in lie-filled Fox News interviews,
through dissembling surrogates such as Kellyanne Conway and Rudolph W.
Giuliani and Sarah Huckabee Sanders, Trump has done his best to
prepare the ground for a moment like Tuesday afternoon.

It arrived with an extraordinary bang. Within a single, frantic hour,
the world learned that Trump’s former campaign chairman, Paul
Manafort, and his former personal lawyer, Michael Cohen, had become
felons. Trump himself was implicated in Cohen’s crime.

But in a divided, disbelieving nation, will this really turn out to be
the epic moment it looks like?

Or will Trump’s intense, years-long campaign to undermine the media —
and truth itself — pay off now, in the clutch?

“If what we learned today doesn’t matter to people, what will?” asked
Chris Cuomo on his CNN show.

It’s an excellent question, and the answer may be “almost nothing.”

Trump, at a gut level, understands this better than anyone. He knows
what he can get away with.

read more





Currency Markets at a Glance WSJ
World Currencies


Euro 1.1568
Dollar Index 95.33
Japan Yen 110.84
Swiss Franc 0.9839
Pound 1.2875
Aussie 0.7286
India Rupee 70.065
South Korea Won 1121.22
Brazil Real 4.0410
Egypt Pound 17.8735
South Africa Rand 14.3531

read more






Bitcoin rally stopped as SEC rejected more Bitcoin ETFs Proposals failed to show how exchanges would "prevent fraudulent & manipulative acts and practices." (via BBG)
World Currencies


Bitcoin rally stopped as SEC rejected more Bitcoin ETFs, blocking
funds from ProShares, GraniteShares & Direxion on concern prices could
be vulnerable to manipulation. Proposals failed to show how exchanges
would "prevent fraudulent & manipulative acts and practices." (via
BBG)

read more





Exclusive: @Saudi_Aramco listing plan halted, oil giant disbands advisors - sources @Reuters
Commodities


The financial advisors working on the proposed listing have been
disbanded, as Saudi Arabia shifts its attention to a proposed
acquisition of a “strategic stake” in local petrochemicals maker Saudi
Basic Industries Corp 2010.SE, two of the sources said.

“The decision to call off the IPO was taken some time ago, but no-one
can disclose this, so statements are gradually going that way - first
delay then calling off,” a Saudi source familiar with the IPO plans
said.

read more




"'t was a Kafka-esque scene at Makindye, as we were stymied at every turn by incoherent bureaucracy, confusion, and excuses as officials scrambled to block @HEBobiwine's lawyers from doing our jobs" Simon Wolfe
Africa


“It was a Kafka-esque scene at Makindye, as we were stymied at every
turn by incoherent bureaucracy, confusion, and excuses as officials
scrambled to block @HEBobiwine ’s lawyers from doing our jobs” Simon
Wolfe

read more


Amsterdam & Partners LLP Denounces Violation of Bobi Wine's Right to Counsel
Africa


Government of Uganda is engaged in a cover up of alleged torture and
continuing illegal detention of lawmaker, says Robert Amsterdam

LONDON, 23 August 2018 – Robert Kyagulanyi Ssentamu, a Ugandan member
of parliament best known as “Bobi Wine” who has been unlawfully
detained since August 14, is now being denied full access to his
lawyers, which is a violation of his right to counsel.

On the morning of Wednesday, August 22nd, a group of five attorneys
visited Makindye Military Barracks where Mr. Kyagulanyi is being held
and demanded access to meet with their client. After hours of waiting,
they were turned away by a senior official of the Uganda Peoples’
Defense Forces.

“It was a Kafka-esque scene at Makindye, as we were stymied at every
turn by incoherent bureaucracy, confusion, and excuses as officials
scrambled to block Bobi Wine’s lawyers from doing our jobs,” said
Simon Wolfe, a Senior Associate at Amsterdam & Partners LLP who was
present among the legal team in Kampala. “The officials attempted to
select limited members of the legal team to enter, an offer which we
refused on the grounds that the government has no right to choose the
client’s counsel.”

Mr. Kyagulanyi is currently being illegally detained on charges of
possession of firearms and ammunition, which lawyers point out should
be a matter for the civil courts, not the military court, if there
were even any evidence to support such trumped up charges.

The legal team is informed that Kyagulanyi’s next court appearance
before has been moved from Kampala back up to the Northern town of
Gulu, a five-hour drive away.

Robert Amsterdam, founder of Amsterdam & Partners LLP, says that this
evasive pattern of conduct by the Government of Uganda represents a
clear attempt to cover up the torture of Mr. Kyagulanyi.

“Everything the government is doing right now is about controlling the
public’s knowledge of their abhorrent treatment of Bobi Wine,” said
Amsterdam. “They are waiting for his injuries to heal and then they
will parade him in front of the media only at such a time when they
can deny the acts of torture he has suffered.”

Amsterdam says that the state’s ultimate goal is to “normalize” the
violent persecution against opposition members like Kyagulanyi through
the mimicry of legal procedure.

“Bobi Wine was not arrested because somebody threw rocks at a
motorcade, and certainly wasn’t arrested over any nonexistent
firearms,” Amsterdam said. “He was arrested for exercising his basic
political rights to freedom of association and expression. He was
arrested and brutally tortured because he represents an increasingly
popular alternative, and the NRM will do anything and everything to
stamp out these hopes for political renewal.”

Amsterdam & Partners LLP is currently in the process of submitting
petitions and applications before multiple international bodies, and
is exploring the potential avenues for the application of individual
sanctions against Ugandan officials involved in torture.

read more


10 NOV 14 ::Ouagadougou's Signal to Sub-Sahara Africa
Africa


What’s clear is that a very young, very informed and very connected
African youth demographic [many characterise this as a ‘demographic
dividend’] – which for Beautiful Blaise turned into a demographic
terminator – is set to alter the existing equilibrium between the
rulers and the subjects, and a re-balancing has begun.

read more




Eritrea Mulls New Port as Ethiopia Rapprochement Spurs Investors @business
Africa


Eritrea is considering building a port on its Red Sea coastline to
export potash from deposits being developed in the Horn of Africa
nation, a mines ministry official said.

Plans for the harbor signal the country’s reemergence as a potential
investor destination after its surprise rapprochement with neighboring
Ethiopia last month ended two decades of political tensions. The
facility could be used to ship potash from Ethiopia and adds to a
series of port developments in the strategically located region by
nations including Djibouti, Somalia, Sudan and the self-declared
Republic of Somaliland.

The port would be situated at the Bay of Anfile, 75 kilometers (47
miles) east of the 1.2 billion-metric-ton Colluli potash deposit, Alem
Kibreab, director-general of mines in the Ministry of Energy and
Mines, said in an interview in the capital, Asmara. A feasibility
study is under way, with the start of construction envisaged about
five years after a mine starts operating there, he said.

“To begin, the company has to make money,” Alem said.

“Those discussions have accelerated” following the recent
rapprochement between Eritrea and Ethiopia, he said. “With the rapid
changes and the rapid improvement in the geopolitical situation,
things we weren’t thinking were possible in the past are now
possible.”

Alem said Anfile could be used by potash projects being developed in
Ethiopia as an export route, instead of Djibouti, which is farther
away. Oslo-based Yara International ASA plans to establish a $700
million potash plant near the Eritrean border, while British Virgin
Islands-registered Circum Minerals Potash Ltd. has a mining license
there covering 365 square kilometers (141 square miles).

Djiboutian ports authority Chairman Aboubaker Omar Hadi didn’t respond
to emails requesting comment on whether its Chinese-built Tadjourah
port to serve potash companies in Ethiopia has been completed in time
for production planned this year and whether a 128-kilometer road
linking the port to the Ethiopian border is complete.

“It’s a no-brainer that if you could have a port there and potash on
the Ethiopian side, obviously you will choose that port,” Alem said.
“Before the peace came, that was an impossibility.”

read more


06-AUG-2018 :: The Indian Ocean Economy and a Port Race. @TheStarKenya
Africa


Today from Massawa, Eritrea [admittedly on the Red Sea] to Djibouti,
from Berbera to Mogadishu, from Lamu to Mombasa to Tanga to Bagamoyo
to Dar Es Salaam, through Beira and Maputo all the way to Durban and
all points in between we are witnessing a Port race of sorts as
everyone seeks to get a piece of the Indian Ocean Port action. China [
e BRI initiative], the Gulf Countries [who now appear to see the Horn
of Africa as their hinter- land], Japan and India [to a lesser degree]
are all jostling for optimal ‘’geo-economic’’ positioning. Overlay the
Geopolitics and its worth noting that the Geopolitics has become much
more fluid. Fluidity has been engendered by the spectacular arrival of
Prime Minister Abiy in Ethiopia [which is land-locked, of course but a
key Future Taker of Port facilities] who has made peace with President
Afawerki’s Eritrea and is surely set to undercut Djibouti and even LA-
PPSET, both Projects which seem to me to have been predicated to some
degree on a permanent Freeze between Ethiopia and Eritrea. Investments
in Ports have a long lead time and I am not certain that those same
investments are able to re-calibrate at the speed with which the
Geopolitics is moving. The Big Risk is that some these Port
investments will be ‘’Hambanota’’-ed.

read more


A heated argument broke out in the offices of President Emmerson Mnangagwa over who was in charge of national security @ReutersAfrica
Africa


As Zimbabwe braced for opposition protests after this month’s disputed
election, a heated argument broke out in the offices of President
Emmerson Mnangagwa over who was in charge of national security, two
people with direct knowledge of the meeting said.

At one point, Vice President Constantino Chiwenga reminded Mnangagwa
that it was he who had installed the president in power after last
year’s coup against Robert Mugabe.

Details obtained by Reuters about the post-election rift between
Mnangagwa and Chiwenga paint the clearest picture yet of a power
struggle that could define Zimbabwe’s future.

When it eventually became clear that the ZEC was about to announce
Mnangagwa had won, Chamisa claimed victory on July 31 and accused ZEC
chairwoman Priscilla Chigumba of collaborating with ZANU-PF, the
ruling party, to steal the election. Chigumba has defended her
independence.

As tension mounted that day, Mnangagwa, Chiwenga, and defense forces
chief Philip Sibanda held crisis talks in the presidency offices in
Harare, according to the two sources, one from the military and
another from ZANU-PF. Several other senior officials were present,
they said.

Chiwenga, 61, said that since he held the defense portfolio he should
manage security at opposition demonstrations expected the following
day, the sources said.

Mnangagwa and Sibanda wanted any protests to be handled by the police.

“Chiwenga was unhappy. He said the election had been badly managed and
stability needed to be restored. It got heated,” said the military
source.

“Chiwenga said no one should forget who got rid of Mugabe.”

read more


South Africa's Rand Weakens as Trump Tweets About Land Debate @BBGAfrica
Africa


The currency weakened as much as 1.7 percent after Trump said he asked
U.S. Secretary of State Mike Pompeo “to closely study the South Africa
land and farm seizures and expropriations”. The South African
government hit back, tweeting that it “totally rejects this narrow
perception which only seeks to divide our nation.”

The U.S.’s acting ambassador to the country will be summoned to
explain Trump’s comments, two people familiar with the situation said
Thursday. He was intervening in an ongoing debate about whether South
Africa should implement a policy of seizing land without paying for it
in a bid to address inequalities built up during apartheid.

The comment raised concern that the U.S. could target South Africa
with economic sanctions having already moved against Turkey, a
decision that would weaken the rand further, according to Hironori
Sannami, an emerging-market currency trader at Mizuho Bank.

The rand was 1.3 percent weaker at 14.3466 per dollar by 8:23 a.m. in
Johannesburg. Yields on benchmark 2026 government bonds rose 4 basis
points to 8.97 percent.

On Wednesday, South African President Cyril Ramaphosa told parliament
that increasing access to land for the poor would happen in an orderly
fashion and would initially focus on making state property available.
The rand strengthened on his comments.

“One tweet does not make a book,” said Warrick Butler, a currency
trader at Standard Bank Group Ltd. “There are far too many other
components affecting the rand. If the dollar reverses its recent
correction then so too will the rand regardless of Twitter.”

read more


I have asked @SecPompeo to closely study the South Africa land and farm seizures and expropriations and the large scale killing of farmers. @TuckerCarlson @FoxNews
Africa


I have asked Secretary of State @SecPompeo to closely study the South
Africa land and farm seizures and expropriations and the large scale
killing of farmers. “South African Government is now seizing land from
white farmers.” @TuckerCarlson @FoxNews

read more



South Africa All Share Bloomberg -2.32% 2018
Africa


Dollar versus Rand 6 Month Chart INO 14.3531 [sell the ZAR]

http://quotes.ino.com/charting/index.html?s=FOREX_USDZAR&v=d6&t=c&a=50&w=1

Egypt Pound versus The Dollar 3 Month Chart INO 17.8735 [a safe haven]

http://quotes.ino.com/charting/index.html?s=FOREX_USDEGP&v=d3&t=c&a=50&w=1

Nigeria All Share Bloomberg -7.59% 2018

http://www.bloomberg.com/quote/NGSEINDX:IND

Ghana Stock Exchange Composite Index Bloomberg +11.23% 2018

http://www.bloomberg.com/quote/GGSECI:IND

read more


'IMF Put' Lures Investors to Angola's Eurobonds as Yields Fall @alykhansatchu Angola's Eurobonds surged @RichFrontiers
Africa


‘IMF Put’ Lures Investors to Angola's Eurobonds as Yields Fall
@alykhansatchu Angola’s Eurobonds surged after the OPEC member said it
would ask the International Monetary Fund for financial support

read more




.@MoodysInvSvc's said last month when it cut Zambia's credit rating by one notch to Caa1, the seventh-highest junk level. @business
Africa


Total government borrowing will probably rise toward 70 percent of
gross domestic product at the turn of the decade from about 60 percent
currently, Moody’s Investors Service said last month when it cut
Zambia’s credit rating by one notch to Caa1, the seventh-highest junk
level.

read more


@StanChartKE reports H1 2018 EPS +31.141% Earnings here @StanChart
Kenyan Economy


Par Value:                  5/-
Closing Price:           209.00
Total Shares Issued:          343510571.00
Market Capitalization:        71,793,709,339
EPS:             19.64
PE:                 10.642

Standard Chartered Bank Kenya H1 2018 results through 30th June 2018
vs. 30th June 2017
 H1 Kenya government securities – available for sale 116.136514b vs.
105.588613b +9.990%
H1 Loans and advances to customers (net) 111.748653b vs. 113.040256b -1.143%
H1 Total assets 295.994246b vs. 289.077286b +2.393%
H1 Customer deposits 231.986234b vs. 224.482823b +3.343%
H1 Total shareholders’ equity 44.641514b vs. 43.589956b +2.412%
H1 Total interest income 13.741748b vs. 12.738535b +7.875%
H1 Total interest expenses [3.898873b] vs. [3.582021b] +8.846%
H1 Net interest income 9.842875b vs. 9.156514b +7.496%
H1 Total operating income 14.663490b vs. 13.452933b +8.998%
H1 Loan loss provision [1.266286b] vs. [2.311347b] -45.214%
H1 Total other operating expenses [8.092601b] vs. [8.475708b] -4.520%
H1 Profit before tax and exceptional items 6.570889b vs. 4.977225b +32.019%
H1 Profit after tax and exceptional items 4.466719b vs. 3.426768b +30.348%
EPS 12.76 vs. 9.73 +31.141%
Dividend per share 5.00 vs. 4.50 +11.111%
6% interim dividend on preference shares
Total NPL and advances 11.727030b vs. 11.539266b +1.627%
Liquidity ratio 71.31% vs. 69.09% +2.220%
Cash and cash equivalents at end of period 33.456645b vs. 29.511360b +13.369%

Conclusions


The Bank has played good defence and now looks primed for growth.
The Loan Loss provision juiced H1 2018.
Hiking the Half Year Dividend +11.111% is a statement of passive
aggressive intent.
very shapely results

read more


NIC Bank reports H1 2018 EPS -11.041% Earnings here
Kenyan Economy


Par Value:                  5/-
Closing Price:           34.00
Total Shares Issued:          639945603.00
Market Capitalization:        21,758,150,502
EPS:             6.48
PE:                 5.247

NIC Group PLC H1 2018 results through 30th June 2018 vs. 30th June 2017
 H1 Kenya Government securities – held to maturity 19.647208b vs.
14.036252b +39.975%
H1 Kenya Government securities – available for sale 33.582849b vs.
27.452746b +22.330%
H1 Loans and advances to customers (net) 114.972494b vs. 116.769833b -1.539%
H1 Total assets 200.950664b vs. 189.489824b +6.048%
H1 Customer deposits 147.088189b vs. 133.158753b +10.461%
H1 Total shareholders’ funds 32.219634b vs. 32.567413b -1.068%
H1 Total interest income 9.569480b vs. 8.811468b +8.603%
H1 Total interest expense [4.436059b] vs. [3.412563b] +29.992%
H1 Net interest income 5.133421b vs. 5.398905b -4.917%
H1 Total operating income 7.283371b vs. 7.407902b -1.681%
H1 Loan loss provision [1.113751b] vs. [1.445703b] -22.961%
H1 Total operating expenses [4.435607b] vs. [4.489514b] -1.201%
H1 Profit before tax and exceptional items 2.847764b vs. 2.918388b -2.420%
H1 Profit after tax and exceptional items 1.986673b vs. 2.029763b -2.123%
Basic and diluted EPS 2.82 vs. 3.17 -11.041%
Total NPL and advances 14.552724b vs. 12.653907b +15.006%
Liquidity ratio 48.75% vs. 45.65% +3.100%

Conclusions


Seriously inexpensive on a PE Ratio basis. Its a premier Tier 2 Franchise.

read more



@NSE_PLC reports H1 2018 EPS +73.333% Earnings here
Kenyan Economy


Par Value:
Closing Price:           17.05
Total Shares Issued:          259503194.00
Market Capitalization:        4,424,529,458
EPS:             0.83
PE:                 20.542

Nairobi Securities Exchange PLC H1 2018 results through 30th June 2018
vs. 30th June 2017
 H1 Operating income 351.402m vs. 282.603m +24.345%
H1 Interest income 58.879m vs. 47.125m +24.942%
H1 Total income 430.504m vs. 346.805m +24.134%
H1 Administrative expenses [277.332m] vs. [254.664m] +8.901%
H1 Profit before taxation 167.826m vs. 99.659m +68.400%
H1 Profit for the year 133.886m vs. 77.770m +72.156%
Basic and diluted EPS 0.52 vs. 0.30 +73.333%
Total assets 2.309172b vs. 2.021336b +14.240%
Cash and cash equivalents at the end of the year 122.341m vs. 130.804m -6.470%

Company Commentary


Equity and Bonds turnover +32% and +30% to settle at 108.5b and 311b
respectively.
+32% increase in equity turnover from 82b to 108.5b
Equity levies 259.9m versus 196.8m
Bond Levies 21.8m versus 16.7m
in the second half of 2018 we will be concluding pilot phase testing
of the Derivatives markets

Conclusions


Attractive results. Its a volume game and volumes were up Year on Year.
They have architected the markets and now need to accelerate volumes

read more


.@KeEquityBank share price data and H1 2018 Earnings release
Kenyan Economy


Par Value:                  0.50/-
Closing Price:           50.00
Total Shares Issued:          3702777020.00
Market Capitalization:        185,138,851,000
EPS:             5
PE:                 10.000

Kenyas lead microfinance model.

6 Month earnings through 30th June 2018 versus through 30th June 2017
H1 Loans and Advances [net] to customers 275.036697b versus 265.086161b +3.75%
H1 Total assets 542.016243b versus 504.944293b +7.341%
H1 Loan Loss Provision 787.392m versus 1.860344b -57.67%
H1 Staff Costs 5.226063b versus 5.158500b
H1 Total Operating Expenses 17.288152b versus 17.627060b -1.92%
H1 Profit before Tax 15.470715b versus 13.292216b +16.389%
H1 Profit after Tax 10.941384b versus 9.338685b
H1 EPS 2.90 versus 2.47 +17.408%

read more


Regional subsidiaries enhanced the Groups profitability, having grown their profitability by 62% to Kshs 2.8bn in the first half of 2018 #EquityHYResults
Kenyan Economy


Conclusions

They have a muscled up Balance Sheet with plenty of Firepower.
These are Good results.
I like the regional Footprint which is gaining some meaningful traction.

With an ROE of 24.1%. and a PE of 9.2x, Equity trades at a P/B of 2.2x
compared to 1.5x of KCB and Coop Bank via Kestrel

read more


.@KeEquityBank's three-year-old subsidiary in the DR Congo has become its most profitable subsidiary @BD_Africa
Kenyan Economy


.@KeEquityBank's  three-year-old subsidiary in the Democratic Republic
of Congo has become its most profitable subsidiary. It made a Sh700 mn
PBT in the six months ended June, a 140% growth compared to the same
period last year. @BD_Africa

read more



National Bank of Kenya reports H1 2018 EPS [0.83] Earnings here
Kenyan Economy


Par Value:                  5/-
Closing Price:           6.20
Total Shares Issued:          308000000.00
Market Capitalization:        1,909,600,000
EPS:             1.26
PE:                 4.921

National Bank reports H1 2018 Earnings here
National Bank of Kenya H1 2018 results through 30th June 2018 vs. 30th June 2017
H1 Investment securities 41.311935b vs. 37.622418b +9.807%
H1 Loans and advances to customers (net) 47.815704b vs. 57.023483b -16.147%
H1 Total assets 113.341453b vs. 116.628892b -2.819%
H1 Customer deposits 95.990899b vs. 98.785964b -2.829%
H1 Total shareholders’ funds 5.849310b vs. 11.430531b -48.827%
H1 Net interest income 2.608541b vs. 2.862442b -8.870%
H1 Total non-interest income 1.054550b vs. 1.213377b -13.090%
H1 Total operating income 3.663091b vs.  4.075819b -10.126%
H1 Loan loss provision 47.873m vs. [235.256m] +120.349%
H1 Total operating expenses [3.503663b] vs. [3.818930b] -8.255%
H1 Profit before tax and exceptional items 159.428m vs. 256.158m -37.762%
H1 Exceptional items [533.272m] vs. –
H1 Profit after tax and exceptional items [282.736m] vs. 179.822m -257.231%
H1 EPS [0.83] vs. 0.53 -256.604%
Total NPL and advances 25.987999b vs. 26.110919b -0.471%
Cash and cash equivalents [1.578345b]

read more


Kenya Shilling versus The Dollar Live ForexPros
Kenyan Economy


Nairobi All Share Bloomberg +1.61% 2018

http://www.BLOOMBERG.COM/quote/NSEASI:IND

Nairobi ^NSE20 Bloomberg -9.89% 2018

http://j.mp/ajuMHJ

Every Listed Share can be interrogated here

http://www.rich.co.ke/rcdata/nsestocks.php

read more



 
 
N.S.E Today


President Trump tweeted ''I have asked @SecPompeo to closely study the
South Africa land and farm seizures and expropriations and the large
scale killing of farmers. @TuckerCarlson @FoxNews''
The Rand fell as much as 1.7% and was last trading at 14.22.
President Trump has been relishing his Financial warfare strategies.
I said on 13-AUG-2018  President Trump seems to be relishing his
financial warfare strategies. He has Khamenei on the run, Maduro in
Venezuela is being attacked by remote-controlled drone, Xi suddenly
looks ever so fragile.
I am afraid the Rand is now caught in the Trumpian crossfire.
If this goes fully fledged and it might because it plays like sweet
music to Potus’ base then the ZAR is going to 17.00
The Nairobi All Share closed -0.65 points at 173.31
The Nairobi NSE20 retreated -39.64 points to close at 3305.29
Equity Turnover slipped to just 345m or so.
The turbulent winds seen in EM and Frontier markets seem to have
finally landed on our shores.



N.S.E Equities - Commercial & Services


Safaricom closed unchanged at 29.00 and traded 3.045m shares and is
well underpinned here ahead of a successful porting of M-Pesa into the
Ethiopian market. M-Pesa is a serious grassroots economic stimulant
and its Ethiopia expansion a No-Brainer.



N.S.E Equities - Finance & Investment


Standard Chartered reported H1 2018 Earnings where H1 Total Assets
gained +2.393% to clock 295.994b, H1 Total Operating income
accelerated +8.998%, The Loan Loss Provision was -45.214% at
[1.266286b] and H1 PAT surged +30.348%. Stanchart is paying a 5/=
interim dividend +11.111% Year on Year. The Bank has played good
defence and now looks primed for growth.
The Loan Loss provision juiced H1 2018 Earnings. Hiking the Half Year
Dividend +11.111% is a statement of passive aggressive intent. I
thought these very shapely results. StanChart eased -0.96% to close at
207.00 and traded 23,200 shares. Clearly, this was an erroneous price
reaction and we should start seeing a move towards 240.00.

NIC Bank reported an -11.041%  H1 2018 EPS decline off the back of a
-2.123% decline in H1 2018 Profit after Tax. NIC trades on a Trailing
PE of less than 5.5 and such is inexpensive. NIC is a Premier Tier 2
Franchise and has been at the sharper end of the Interest rate Cap but
John Gachora has steered the ship with some adroitness. NIC Bank eased
-2.94% to close at 33.00 and traded 101,900 shares.

The NSE reported a +73.333% surge in H1 2018 EPS and a +72.156% H1
2018 Profit after Tax acceleration. The NSE served up these
startlingly good results via a +32% increase in Equity Turnover
[during the reporting period] to 259.9m versus 196.8m last time.  Its
a volume game and volumes were up Year on Year. They have
''architected'' the markets and now need to accelerate volumes. The
NSE closed unchanged at 17.05 in what was an anaemic reaction to good
results. Volumes have slowed markedly since this reporting period.



N.S.E Equities - Industrial & Allied


EABL was the most actively traded share at the Securities Exchange and
closed unchanged at 209.00 and traded 477,200 shares. EABL has had a
disappointing run lower this year. EABL reported a -26% slide in FY
2018 EPS, recently.

KenGen closed unchanged at 6.55 and traded 950,100 shares.
--



by Aly Khan Satchu (www.rich.co.ke)
 
 
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August 2018
 
 
 
 
 
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