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Thursday 10th of May 2018 |
Morning, Africa |
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The Latest Daily PodCast can be found here on the Front Page of the site http://www.rich.co.ke |
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05-FEB-2018 :: Halcyon Days @TheStarKenya Africa |
Wikipedia has an article on: halcyon days and it reads thus,
From Latin Alcyone, daughter of Aeolus and wife of Ceyx. When her husband died in a shipwreck, Alcyone threw herself into the sea whereupon the gods transformed them both into halcyon birds (kingfishers). When Alcyone made her nest on the beach, waves threatened to destroy it. Aeolus restrained his winds and kept them calm during seven days in each year, so she could lay her eggs. These became known as the “halcyon days,” when storms do not occur. Today, the term is used to denote a past period that is being remembered for being happy and/or successfuL
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12-SEP-2016 :: Mirrors on the ceiling, The pink champagne on ice Africa |
If volatility spikes, positions are going to be reduced en masse. Or to put it another way and to borrow the lyrics from the Eagles Hotel California:
Mirrors on the ceiling, The pink champagne on ice And she said “We are all just prisoners here, of our own device” Last thing I remember, I was Running for the door I had to find the passage back To the place I was before “Relax,” said the night man, “We are programmed to receive. You can check-out any time you like, But you can never leave! “ What is clear is that we are at the fag-end of this party.
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Classifying elephant behaviour through seismic vibrations Africa |
Seismic waves — vibrations within and along the Earth’s surface — are ubiquitous sources of information. During propagation, physical factors can obscure information transfer via vibrations and influence propagation range [1]. Here, we explore how terrain type and background seismic noise influence the propagation of seismic vibrations generated by African elephants. In Kenya, we recorded the ground-based vibrations of different wild elephant behaviours, such as locomotion and infrasonic vocalisations [2], as well as natural and anthropogenic seismic noise. We employed techniques from seismology to transform the geophone recordings into source functions — the time-varying seismic signature generated at the source. We used computer modelling to constrain the propagation ranges of elephant seismic vibrations for different terrains and noise levels. Behaviours that generate a high force on a sandy terrain with low noise propagate the furthest, over the kilometre scale. Our modelling also predicts that specific elephant behaviours can be distinguished and monitored over a range of propagation distances and noise levels. We conclude that seismic cues have considerable potential for both behavioural classification and remote monitoring of wildlife. In particular, classifying the seismic signatures of specific behaviours of large mammals remotely in real time, such as elephant running, could inform on poaching threats.
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Israel retaliates after Iran 'fires 20 rockets' at army in occupied Golan Heights Law & Politics |
Arch-enemies Iran and Israel have appeared to edge closer to all-out war after Israel’s military said its positions in the Golan Heights were fired at with a barrage of Iranian rockets, prompting it to respond with extensive strikes targeting Tehran’s forces across Syria.
The attack, if confirmed, would mark the first time Iran has fired rockets in a direct strike on Israeli forces, dramatically ratcheting up what has for years been a conflict fought through proxies.
Several but not all of the Iranian rockets were intercepted by Israeli defences, an Israel Defense Forces (IDF) spokesman, Lt Col Jonathan Conricus, told reporters.
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The JCPOA is the Obama administration's only tangible foreign policy success, so, for domestic political reasons, it had to be destroyed @asiatimesonline Law & Politics |
Breaking the unwritten rules of global diplomacy, the Trump administration is now in violation of the multilateral Joint Comprehensive Plan of Action, or in plain language the Iran nuclear deal. Nuance is notoriously absent in what can only be described as a unilateral hard exit.
All suspended United States sanctions against Iran will be reinstated, and harsh additional ones will be imposed.
It does not matter that the International Atomic Energy Agency, or IAEA, repeatedly confirmed Iran was complying with the JCPOA as verified by 11 detailed reports since January 2016. Even US Secretary of Defense James Mattis vouched for the stringent verification mechanisms.
Facts appear to be irrelevant, though. The JCPOA is the Obama administration’s only tangible foreign policy success, so, for domestic political reasons, it had to be destroyed.
The geopolitical consequences are massive. To start with, strategically, Washington is isolated. The only actors applauding the decision to rip up the deal are Israeli Prime Minister Benjamin Netanyahu and Saudi Arabia’s Crown Prince Mohammed bin Salman.
As Iran is a key hub of the ongoing Eurasia integration process, the trade-investment partnership with both Moscow and Beijing will be even stronger as Asia Times has reported.
The JCPOA was a dizzyingly complex technical undertaking. In parallel, it is no secret the US establishment never got over the 1979 Islamic revolution. The privileged roadmap in the Beltway remains regime change.
The real US objective – way beyond the JCPOA’s technicalities – was always geopolitical. And that meant stopping to Iran from becoming the leading power in Southwest Asia.
That still applies as seen by the United States Central Command’s recent drive “to neutralize, counterbalance and shape the destabilizing impact Iran has across the region…” Or, in Trump terminology, to curtail Iran’s “malign activities.”
In a nutshell, this betrays the entire project which is to thwart the Eurasia integration process, which features Russia and China as peer competitors aligning with Iran along the New Silk Roads.
Predictably, we are back to the late Dr. Zbigniew Brzezinski’s book, The Grand Chessboard.
“…Potentially the most dangerous scenario would be an ‘anti-hegemonic’ coalition united not by ideology but by complementary grievances … a grand coalition of China, Russia, perhaps Iran … reminiscent in scale and scope of the challenge posed by the Sino-Soviet bloc, though this time, China would likely be the leader and Russia the follower,” he wrote. “Averting this contingency … will require US geostrategic skill on the western, eastern, and southern perimeters of Eurasia simultaneously.”
So, Trump has reshuffled the Grand Chessboard. Persians, though, happen to know a thing or two about chess.
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The political leader who most resembles Trump is the late Colonel Gaddafi of Libya. @Independent's Robert Fisk Law & Politics |
The parallels are quite creepy. Gaddafi was crackers, he was a vain, capricious peacock of a man, he was obsessed with women, he even had a ghost writer invent a ‘Green Book’ of his personal philosophy, just as Trump had his business manual written for him. Gaddafi was vengeful towards his opponents but his views on the Middle East were odd, to say the least. He once advocated a one-state solution to Israel and Palestine which – in all seriousness – he suggested should be called ‘Israel-tine’. A bit like moving the US embassy from Tel Aviv to Jerusalem.
Above all, Gaddafi was completely divorced from reality. If he lied, he believed his own lies. He believed that he kept his promises. He believed in the world he wanted to believe in, even if this was non-existent. His Great Man Made River Project was supposed to Make Libya Great Again.
That’s why I most enjoyed Trump’s expression of love for Iranians. All US presidents say how much they love the people they are about to invade. Bush said the same about the Iraqis. So did Reagan before he bombed Gaddafi’s Libya. Now Trump feels sorry for the “long suffering Iranians”. Trump reminded us all of a time when Iran “prospered in peace” and “commanded the admiration of the world” – and no-one has spotted that he was referring to the Shah’s Iran whose Savak secret police kept Iranians in a state of permanent fear and terror through a programme of obscene tortures.
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After a gap of three years since the regime changed in Ukraine in February 2015, another color revolution is unfolding in yet another former Soviet republic in the Caucasus - in Armenia. Law & Politics |
The western media has tentatively named it a “Velvet Revolution.” All the classic features of a color revolution are already visible in the political upheaval. A middle-aged man named Nikol Pashinyan appeared from nowhere to lead the campaign for regime change. He has promised to protect human rights and crack down on the rampant corruption and cronyism.
The western media enthusiastically began building up Pashinyan as a cult figure. He started growing a salt-and-pepper beard three weeks ago. Wearing a camouflage T-shirt and cargo pants, his photogenic face under a military-style cap instantly draws a comparison with Che Guerra on the billboards in Yerevan.
The wildly ecstatic youth – with a fair percentage of chic middle-class young women – adore his manly looks and are joining sit-ins in the city square in Yerevan against the backdrop of rock music, with a live performance by the lead singer of the US metal band System of a Down. The protests already wear the look of a carnival. The authorities do not know how to handle the young revolutionaries.
Suffice to say, if the US gets entrenched in Armenia, it will pose headaches for both Turkey and Iran, which are presently in Washington’s crosshairs. The US already enjoys strong ties with the Kurds inhabiting the region.
Equally, at some point, the regime-change project in Armenia is bound to spill over to next-door Azerbaijan, which is also under authoritarian rule. There is already a heightened level of western attention regarding the geopolitics of Azerbaijan. Of course, Azerbaijan would be a prize catch for the US in the great game in the Caucasus. It is oil-rich and, interestingly, there is an ethnic Azeri minority living within Iran.
Above all, if Azerbaijan is brought into the US orbit, Uncle Sam gets to wet his toes in the Caspian Sea, which until now has been a de facto Russian-Iranian lake. Indeed, fateful times lie ahead in the geopolitics of the Caucasus, which has been a hotly contested region all through history as surrounding empires competed for control – Persian, Turkish and Russian.
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Africa is increasingly divergent. Straight-line projections and simplistic 'rise-and-fall' economics have never served the continent well. @dailymaverick Africa |
Just as growth prospects appear to be spurring a buoyant outlook for the continent, Bloomberg’s annual Misery Index dampens the outlook. This index, a measure combining inflation and unemployment, places six African countries in its top 10 most miserable countries globally in 2018. South Africa, with arguably the highest rates of unemployment, sits firmly in fifth spot. It was second, behind Venezuela, in 2017.
The World Bank’s annual Country Policy and Institutional Assessment (CPIA) report, for example, found a 40% deterioration in the overall quality of policies and institutions in African countries in 2016. The deterioration increased from 2015 to 2016, and by 2016, the number of countries in decline outnumbered those improving by a margin of two to one.
With the youngest population in the world, the median age in Africa is less than 20. But Africa has, on average, both the longest serving and oldest heads of state. Seven of the 10 longest-serving world leaders are African. President Teodoro Obiang Mbasogo of Equatorial Guinea, the longest-serving of all, has been at the helm for 38 years. In 2016, he won a fifth seven-year term.
Africa’s population is set to double by 2050 to 2.4 billion. The continent’s under-18 population, already nearing 60% of Africa’s total, could increase by two thirds to reach almost 1 billion by that date. Currently, nearly 50% of Africans live in cities, seeking housing, jobs and opportunities. This is an urban and demographic time bomb.
It is critical for African countries to post higher economic growth rates (much higher) than their population growth rate in order to boost employment opportunities and reduce poverty. But World Bank figures suggest only some are achieving this.
For example, Nigeria, Africa’s largest economy, is home to almost 200 million people. Its population is growing at 2.61% per year, with a median age of 18. But Nigeria’s economy is set to grow by just 2% in 2018. The implications of this are nothing short of disastrous.
Ethiopia and Ghana demonstrate the alternative scenario. Ethiopia’s 100 million strong population is growing at 2.46% per annum, and its economy is expected to grow by 8.5% in 2018. Ghana, albeit with a relatively small population of under 30 million people, has an annual population growth rate of 2.18% and is expected to have the world’s fastest growing economy in 2018, at 8.9%.
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07-MAY-2018 :: Africa Calling. @TheStarKenya Africa |
Of course, Africa is not a Country, in fact the Continent is seriously non-linear, booms and busts quite often occur simultaneously. However, what is clear is that the demographic surge, the overwhelming nature of the numbers of this ''Born Free'' generation [Despite beliefs that Millennials make up a large portion of the African population, they are less than 30% of this population according to the 2017 estimates by the Africa Development Bank. Africans aged 15 and below make up 41% of the continent’s population. Those below 19 years old are at 51%. - Geopoll] is creating a more homogenous African. The Arrival of the Information Century, which started with the mobile Phone, then the mobile internet triggered a process of binding Africans closer to their Fellow Africans.
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Africa's desperate youth are getting high on opioids and anything they can get their hands on @qzafrica Africa |
The actual details of the death of a young man called “Kenneth aka Dagba Junior” from the Lagos suburb of Ketu remain murky, but local news reports are clear on the culprit: gutter water. His friends say Kenneth had gone out for the night at a local hotel and decided to indulge in the potent mix of codeine, tramadol, rohypnol, cannabis and water or juice. While the mixture enhances the enjoyable high of each drug ingredient, their side effects are also increased leading to a very risky outcome. Gutter water isn’t the only dangerous cocktail of drugs which a generation of young Africans use to get their high or fix for relatively cheap. Everything from lizard dung and cobwebs to petrol fumes and rat poison are on the list of DIY drugs for a generation of poor, disenfranchised young urban Africans who feel there are few options for a better life. With expensive illicit drugs like cocaine and heroin out of reach for many unemployed young people, they’re turning to a range of cheap options—and concoctions—to get high. The spreading addiction among Africa youth to cheap synthetic opioids brought in from China and India has had much press recently. Tramadol, a pain relief drug, is flooding African cities including Khartoum, Libreville, Cairo and Accra. Last week, Nigeria banned codeine, typically found in cough syrups, following a BBC documentary which showed that a thriving black market trade involving insiders at some of the country’s biggest pharmaceutical companies. Opioids are generally cheap and widely available due to unregulated production: Tramadol pills cost less than a dollar and codeine syrups sell for $3 in Nigeria. As a result, young adults are increasingly reaching extreme measures in search of a cheap high. Combining opioids with alcohol is a popular choice. The mixture of two central nervous system depressants results in a wider effect on the brain: codeine binds to opioid receptors while alcohol affects the brain’s gamma-aminobutyric acid receptors. Both drugs interact with neurotransmitters tied to mood, particularly dopamine and serotonin, and result in the high. More than availability and the creativity of youthful addicts, much of the drug abuse culture is fueled by the inability of most African economies to grow quickly and get big enough to cater to a bulging youth population. High unemployment rates mean that millions of young people in large countries like Nigeria and South Africa to much smaller ones have few options and are susceptible to turning to drugs as an escape. It’s a problem that will likely get worse with an extra 1.3 billion people set to added to the continent’s population by 2050.
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big ticket blow-up in any African country might all be the catalyst [Zambia looks a likely candidate]. @BDliveSA's @RonakGopaldas Africa |
According to Aly-Khan Satchu, a Nairobi-based investment analyst, "liquidity has so far muted political risk and concerns from some bond vigilantes are that African governments are dangerously overloaded on debt. Therefore this could well be the calm before a storm. The question is what might trigger this pivot. A non-benign interest rate structure, a sharp deterioration in the US-China trade war or big ticket blow-up in any African country might all be the catalyst [Zambia looks a likely candidate].
I think the rally has farther to go, that there will be more granularity and pricing about African eurobond pricing, which has become very homogenous and that we are at some point in the future going to witness a big asymmetric downside move."
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Ghana's Cocobod seeking $1.5 bln from China's Eximbank- CEO Reuters Africa |
We have been in discussions since last year to secure $1.5 billion to finance our plans, mainly to replant diseased and aged trees, build warehouses and cocoa roads to improve farmers’ income, and also to provide irrigations in the face of changing climate conditions,” said Aidoo.
Ghana, the world’s second largest cocoa exporter after Ivory Coast, produces an average 800,000 tonnes of beans per year, with plans to reach 1 million tonnes by 2020. But the country currently only processes about 250,000 tonnes, Aidoo said.
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May 10th 2018 In a turbulent World, Safaricom is a ''must-have'' stock. @TheStarKenya Africa |
Global oil markets have been roiled by the widely telegraphed withdrawal of the US from the Iran Nuclear Deal. Price of Brent Crude traded fresh 2014 highs of $77.00 a barrel. Emerging markets have been getting creamed. Turkish President is hosting an emergency meeting at his palace as the Turkish Lira crashed to fresh all time lows. Argentina raised interest rates to 40% but have dialled up Madam Lagarde as President Lungu of Zambia will be doing momentarily. There is every indication that the benign environment with lashings of cheap money have now been terminated.
The IMF said the following about one-third of Sub-Saharan African countries have declining per capita incomes. @IMFnews Six countries - Chad, Eritrea, Mozambique, Congo Republic, South Sudan and Zimbabwe - were judged to be in debt distress at the end of last year. The IMF’s ratings for Zambia and Ethiopia were changed from moderate to “high risk of debt distress.” Foreign currency debt increased by 40 percent from 2010-13 to 2017 and now accounts for about 60 per cent of the region’s total public debt on average, IMF data showed. Average interest payments, meanwhile, increased from four percent of expenditures in 2013 to 12 percent in 2017.
Thats the background to the biggest NSE Earnings release of the Year, which was of course Safaricom [about 42.5% of the Total value of the NSE] who reported pre-market opening this morning. The backdrop for this earnings release was the slowest rate of GDP increase in 6 years in 2017, a drought, a credit crunch and not one but two Elections and then of course the Resist-related Boycott. I have been attending these Earnings Releases for a decade and it was good to catch up with Michael Joseph [and we reminisced about when he launched M-Pesa and today its making more than any Kenyan Bank] and many others. I interviewed the Acting CEO Sateesh Kamath. It was also a pleasure to hear Bob Collymore speak to the Audience from London. Safaricom reported a +10.0% gain in FY service revenue which clocked 224.54b, FY Profit before tax increased +13.1% to 79.1b and FY Profit after Tax increased +14.1% to 55.3b,which translated into +14.05% gain in FY EPS and a FY dividend increase of +13.4%. Free Cash Flow exploded +27.304% higher to register 55.39b. Breaking down the revenue streams, FY Voice Revenue grew +2.333% to 95.46b, M-PESA Revenue accelerated 14.216% to 62.91b.
"Mpesa has been a growth engine. Whenever there’s a cash transaction, we see an opportunity. Transaction value in 2017 doubled'' - Sates.
FY Mobile Data revenue surged +23.969% to clock 36.36b [Data usage per customer grew from 269 MB per customer to 421 MB]. It really is an Information Century and I expect the Mobile Data Curve to continue its stellar Trajectory.
Full Year Total Customers increased +5.1% to 29.57m and if any one is a beneficiary of the demographic dividend it is Safaricom.
Safaricom rallied +2.654% to close at 29.00 and traded 17.881m shares worth 520.779m. In a turbulent World, Safaricom is a ''must-have'' stock. Sateesh closed out the Briefing by raising FY 2019 Guidance by between 7%-12%. I expect the Economy to pick up momentum in 2018 and Safaricom with it.
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@SafaricomPLC releases FY18 #Safaricomfyresults FY EPS +14.05% Africa |
Par Value: 0.05/- Closing Price: 29.00 Total Shares Issued: 40065428000.00 Market Capitalization: 1,161,897,412,000 EPS: 1.38 PE: 21.014
Safaricom FY Results for the year ended 31st March 2018 vs. 31st March 2017 FY Voice revenue 95.64b vs. 93.46b +2.333% FY Mpesa Revenue 62.91b vs. 55.08b +14.216% FY SMS Revenue 17.72b vs. 16.68b +6.235% FY Mobile data revenue 36.36b vs. 29.33b +23.969% FY Fixed service revenue 6.67b vs. 5.24b +27.290% FY Other service revenue 5.24b vs. 4.32b +21.296% FY Service revenue 224.54b vs. 204.11b +10.009% FY Handset revenue and other revenue 8.98b vs. 8.70b +3.218% FY Total revenue 233.72b vs. 212.89b +9.784% FY Other income 0.50b vs. 2.51b -80.080% FY Direct costs [70.55b] vs. [66.78b] +5.645% FY Contribution margin 163.47b vs. 148.54b +10.051% FY Operating costs [50.61b] vs. [44.92b] +12.667% FY EBITDA 112.83b vs. 103.61b +8.899% FY Depreciation and amortization [33.56b] vs. [33.23b] +0.993% FY EBIT 79.27b vs. 70.38b +12.631% FY Net financing and FX losses 0.63b vs. 0.23b +173.913% FY Earnings before taxation 79.71b vs. 70.63b +13.139% FY Net income 55.29b vs. 48.44b +14.141% EPS 1.38 vs. 1.21 +14.050% Capital Employed 123.91b vs. 107.49b +15.276% Cash and cash equivalents 9.50b vs. 5.96b +59.396% Total Net Cash 5.46b vs. [10.58b] +151.607% Free cash flow 55.39b vs. 43.51b +27.304% Key Highlights for the year ended 31st March 2018 Customer numbers 29.57m +5.1% Mobile Data Customers 17.67m +6.2% M-Pesa Customers 20.55m +8.0% Service revenue 224.54b +10.00% Voice Service Revenue 95.64b +2.3% SMS Revenue 17.72b +6.2% Mobile Data Revenue +36.36b +24% Fixed Service revenue 6.67b +27.3% M-PESA Revenue 62.91b +14.2% Non-Voice service revenue = 57.4% of total service revenues EBITDA 112.83B +8.9% [excluding a one-off adjustment growth was 12.5%] Net Income +14.1% 55.29b Full Year Dividend 1.10 +13.4% Free Cash Flow 55.39b versus 43.51b +27.3%
Conclusions
Strong Earnings, Look at M-PESA which made considerably more than any Bank. Mobile Data a Stand-Out. Voice still posting growth [demographic surge refers] This is a rock-solid Franchise and its morphing into Digital Company. And do not forget this was against the backdrop of an economy that grew its weakest for 6 years.
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07-MAY-2018 :: .@SafaricomPLC is a Need not a Want. Buy the Dip, add to the position if we react lower on the results Africa |
Let me loop now to Safaricom, which will be reporting its FY Earnings Wednesday morning. I don't need to remind you of Safaricom's centrality to the fortunes of the Nairobi Securities Exchange. Safaricom has a market Cap of $11.2b about 43% of the total market Cap of the Securities Exchange. Therefore, this is the Big Beast of Earnings Releases at the Nairobi Securities Exchange. After hitting a record high on April 5th, Safaricom corrected -20.00% through Friday morning. Citibank were surely the Catalyst with a sceptical Earnings perspective. Safaricom provided every Kenyan with an Entry Ticket into the c21st. Jack Ma last year posed the question when asked about the Infrastructure Gap,
''But what is the most important Infrastructure of them all? Its the information Superhighway and yours is fast.''
Safaricom is a Need not a Want. Buy the Dip, add to the position if we react lower on the results. Safaricom has built the Superhighway. Everyone else is still playing the tarmacking Game. You know what I mean. The roads around Westlands are the best example.
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N.S.E Today |
The Dollar has been on the rampage on the FX Exchanges but its gained stalled today. Emerging and Frontier Market currencies have been getting hammered. Nerves are getting frayed. Brent Crude Oil Prices crossed $77.00 a barrel, which is now at alarm bell levels. Delegates at a @MoodysInvSvc conference in Lagos yesterday cited the biggest risks for African Borrowers as being homegrown ones and not external shocks [Paul Wallace Bloomberg] Ghana is in the Eurobond market today with a dollar deal. It's offering a 10-year tranche with a yield in the low 8% area and a 30-year portion yielding about 9% [Paul Wallace Bloomberg] The Nairobi All Share was sold hard and closed -1.617% lower to close at 178.25. The Nairobi NSE20 Index retreated 29.87 points to close at 3635.76. Equity Turnover clocked 752.857m
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N.S.E Equities - Commercial & Services |
Safaricom which rallied +2.65% yesterday after the release of its FY Earnings, met sell side pressure today and retreated -3.45% to close at 28.00 and traded 14.074m shares worth 395.333m. Safaricom served up a mouth-watering set of Earnings, which spoke to a Digital Future [FY Mobile Data Revenue 36.36b +24%, and MPESA Revenue 62.91b +14.2% [base effect refers]] which Sates [sitting in for Mr. Collymore is clearly fully seized. Safaricom is +4.672% and is a Buy as early as tomorrow particularly if we see a further price reverse during the session.
Interestingly and According to a report in the Hindustan Times, Bharti Airtel Ltd. is looking to pare $4.6 billion from its net borrowings over the next three years by listing its African unit. India’s top wireless operator plans to raise as much as $1.5 billion by listing a quarter of equity in its Africa unit by early 2019 in either London or South Africa, the person said, asking not to be identified as the information isn’t public. The twin deals will help the billionaire Sunil Mittal-controlled carrier improve its balance sheet after net debt rose almost 45% to $14.6 billion over four years as the company borrowed to buy spectrum and defend its position against disruptive upstart Reliance Jio Infocomm Ltd. The build-up, which came with an eight-quarter-long stretch of earnings declines, has put Bharti Airtel at risk of a downgrade to junk at both Moody’s Investors Service and S&P Global Ratings.
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N.S.E Equities - Finance & Investment |
Equity Bank closed unchanged at 51.50 and traded 2.249m shares. Equity Bank as already signalled it has about $200m of firepower in the event the Rate Cap is modified. Equity is +29.55% in 2018 and my price Target is 60.00.
BRITAM EA win was marked up +6.76% yesterday, reversed those gains to close -8.544% at 14.45 and traded 210,500 shares. Jubilee Holdings closed unchanged at 534.00 and traded 104,300 shares worth 55.785m. Jubilee is +7.014% in 2018 and reported a +19.279% acceleration in FY 17 EPS.
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N.S.E Equities - Industrial & Allied |
KenGen according to its MD Rebecca Miano's Twitter feed, hosted President Ismail O Guelleh at its Geothermal Fields in Olkaria. It is no secret that Djibouti is also [like Kenya] sitting atop a meaningful Geothermal resource. Djibouti surely represents an outstanding opportunity for KenGen to vault our borders and expand geographically. KenGen eased 5 cents to close at 8.05 and traded 732,800 shares.
ARM cement which has been in a Tail-Spin in 2018 corrected a further -6.201% to close at 6.05 and is now -53.46% in 2018, but traded higher at the Finish Line trading at 6.95 +7.75% at the closing Bell.
KenolKobil firmed +0.77% to close at a Fresh record High of 19.60 and traded 1.227m shares worth 24.082m. Tanzanian billionaires Aunali and Sajjad Rajabali [as per Business Daily] have muscled their way onto the share holder register and now own 5.22% of the Oil Co. KenolKobil is +40.35% in 2018. Total Kenya rallied +4.379% to close at 35.75 and traded 251,800 shares. Total Kenya is +52.12% in 2018. Both shares have performed well and beaten expectations but also support is the Listing of Vivo Energy at a Price indication which is lifting valuations here as well.
.@KenolKobil share price data here +40.35% in 2018 http://bit.ly/2DMFVE
@totalkenya share price data here +52.12% in 2018 http://bit.ly/b1C7E1
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