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Satchu's Rich Wrap-Up
 
 
Tuesday 29th 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

It was a pleasure catching up with Mr. Collymore.

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Humans are barely a rounding error compared to the rest of life on Earth @SmithsonianMag
Africa


Humans Make Up Just 1/10,000 of Earth’s Biomass.

The human population on Earth is about 7.6 billion people (and
counting). But according to a new global census of biomass, humans are
barely a rounding error compared to the rest of life on Earth. As Seth
Borenstein at The Associated Press reports, the biomass of
humanity—measured by the dry-weight of carbon that makes up our
bodies—is equivalent to just one ten-thousandth of all biomass on our
planet.

Anyone who has walked through a jungle or wandered a grassland may
already have guessed that humans are a pretty small part of Earth’s
organic matter. The carbonaceous winners are plants, which make up
about 80 percent of all biomass on Earth. Bacteria comes in second at
13 percent and fungus is third at just 2 percent.

Of the 550 gigatons of biomass carbon on Earth, animals make up about
2 gigatons, with insects comprising half of that and fish taking up
another 0.7 gigatons. Everything else, including mammals, birds,
nematodes and mollusks are roughly 0.3 gigatons, with humans weighing
in at 0.06 gigatons. The research appears in The Proceedings of the
National Academy of Sciences.

.@Fairouzna - Kifak Enta | Fairouz | فيروز - كيفك إنت
https://bit.ly/2kwNLfe

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How Are You
Africa


Do you remember the last time I saw you that year
Do you remember then the last word you said
And I didn't see you after
And now I see you
How are you?

Do you remember the last night you stayed in our home
Do you remember there was a person bothered by us
That was my mother
Worried about me
From you

How are you? They're saying you now have children
I swear I thought you were out of the country
What do I want with the country?
God bless the children
How are you?

It comes to my mind
Getting back together
You are my right one
Getting back together
Me and you

Do you remember the last time what you told me
Stay if you want, you can leave if you want
I got upset at the time
And didn't realize
That you are you

You come to my mind
Despite the children and people
You are essential
And fundamentally I love you
I love you

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Time is "perhaps the greatest mystery", he says. "At the most fundamental level we currently know of, there is little that resembles time as we experience it." @newscientist
Africa


The passage of time – a uniform, universal flow that transports us
inexorably from a past we cannot revisit to a future we cannot know –
is perhaps the most fundamental experience of our existence. Yet our
best theories suggest that it is not real. Time doesn’t flow, and
past, present and future cannot sensibly be defined. There isn’t even
one single time that governs the order of events.

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Farrakhan praises Trump for destroying his enemies - the FBI and Justice Department @haaretzcom
Law & Politics


Farrakhan said that while Trump may not have intended to help his
cause, he has done so by “destroying the enemies of the Nation of
Islam. Included in this group are the Department of Justice and the
FBI.”

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.1593
Dollar Index 94.49 [94.50 was the Target]
Japan Yen 108.90
Swiss Franc 0.9938
Pound 1.3287
Aussie 0.7533
India Rupee 67.725
South Korea Won 1077.24
Brazil Real 3.7364
Egypt Pound 17.9354
South Africa Rand 12.5358

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He is prone to unhinged @Twitter eruptions. He can't handle criticism @elonmusk @nytimes
Law & Politics


He is prone to unhinged Twitter eruptions. He can’t handle criticism.
He scolds the news media for its purported dishonesty and threatens to
create a Soviet-like apparatus to keep tabs on it. He suckers people
to fork over cash in exchange for promises he hasn’t kept. He’s a
billionaire whose business flirts with bankruptcy. He’s sold himself
as an establishment-crushing iconoclast when he’s really little more
than an unusually accomplished B.S. artist. His legions of devotees
are fanatics and, let’s face it, a bit stupid.

I speak of Tesla chief executive Elon Musk, the Donald Trump of Silicon Valley.

Not long ago, a wise friend with an enviable Wall Street reputation
wrote me to describe his astonishment with Tesla, calling it “a
situation unlike anything I have ever seen.”

“The stock market valuation of a well-known company is stratospheric,”
he said, “while at the same time its bonds are viewed as junk.”

“Meanwhile,” he added, Musk “plays to his audience with constant
tweets of claims that go largely, repeatedly and visibly unfulfilled.
And the S.E.C., which is supposed to prevent companies like this that
raise money from the public on false pretenses, sits idly by.”

Strong words — too strong, if you ask the satisfied customers of
Tesla’s Model S (base price, $74,500) and X ($79,500). But Tesla is
supposed to be the auto manufacturer of the future, not a bauble maker
for the rich.

The company has rarely turned a profit in its nearly 15-year
existence. Senior executives are fleeing like it’s an exploding Pinto,
and the company is in an ugly fight with the National Transportation
Safety Board. It burns through cash at a rate of $7,430 a minute,
according to Bloomberg. It has failed to meet production targets for
its $35,000 Model 3, for which more than 400,000 people have already
put down $1,000 deposits, and on which the company’s fortunes largely
rest.

Also, the car is a lemon. Like the old borscht belt joke, the food is
lousy and the portions are so small.

The brilliance is Musk’s Trump-like ability to get people to believe
in him and his preposterous promises. Tesla without Musk would be Oz
without the Wizard.

It’s about hubris and credulity — the hubris of the few to pretend
they know the future and the credulity of the many to follow them
there.

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#Bitcoin keeps bleeding. Cryptocurrency has dropped below $7293, the avg price of the past year @Schuldensuehner
World Currencies


#Bitcoin keeps bleeding. Cryptocurrency has dropped below $7293, the
avg price of the past year. Last hope for #HODL crowd in this year's
double-bottom in the low $6,000s, BBG's Cinko writes.

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Africa


Conclusions

Easier said than done.

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South Africa All Share Bloomberg -4.45% 2018
Africa


Dollar versus Rand 6 Month Chart INO 12.5358

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 17.9354

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

Nigeria All Share Bloomberg +2.08% 2018

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

Ghana Stock Exchange Composite Index Bloomberg +27.70% 2018

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

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Incredible image of a priest with ebola being prayed for from afar by his bishop in DRC @arnoldkatako
Africa


Incredible image of a priest with ebola being prayed for from afar by
his bishop in DRC. There is an outbreak of ebola in the country but
officials say it can be contained #EbolaDRC #DRC

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28-MAY-2018 :: The choice of that moment is the greatest riddle of history @TheStarKenya
Kenyan Economy


Let me start with a quotation from Ryszard Kapucinski's Shah of Shahs P. 106

''It is authority that provokes revolution....This occurs when a
feeling of impunity takes root among the elite: We are allowed
anything, we can do anything. This is a delusion, but it rests on a
certain rational foundation. For a while it does indeed look as if
they can do whatever they want. Scandal after scandal and illegality
after illegality go unpunished. The people remain silent...They are
afraid and do not yet feel their own strength. At the same time, they
keep a detailed account of the wrongs, which at one particular moment
are to be added up. The choice of that moment is the greatest riddle
of history''

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Kenyan regulator could force @SafaricomPLC to share agents' network @ReutersAfrica
Kenyan Economy


Kenya’s largest telecoms operator Safaricom could be forced to offer
rivals access to its transmission sites and its vast network of mobile
money outlets if a draft regulatory report on boosting competition in
the sector is implemented.

The recommendations are contained in a draft report that the
regulator, Communications Authority of Kenya (CA), is finalising, an
official from the regulator told Reuters on Monday, declining to say
when it would be published.

An earlier version of the report caused a selloff of Safaricom shares
when it was leaked in February 2017. That version proposed separating
its widely used mobile money business from its telecoms unit due to
its dominant size.

Safaricom, which is 35 percent owned by South Africa’s Vodacom,
controls 72 percent of Kenya’s mobile market, with close to 30 million
subscribers.

The regulator dropped the recommendation to break up Safaricom after
the company lobbied heavily against it but retained some proposals in
the current draft that Safaricom has said could be damaging to its
business.

The current draft of the report, seen by Reuters, says Safaricom
should be required to offer access to its transmission sites to its
competitors in designated areas where its rivals do not have adequate
coverage.

It also calls for Safaricom to open up its mobile money agent network
to its rivals, a proposal that has particularly irked the company as
it would expose its lucrative M-Pesa mobile money platform to stiff
competition. More than 26 million people in Kenya use M-Pesa, which
allows people to send cash and make payments by phone.

Michael Joseph, a former Safaricom CEO who now sits on the company’s
board, said the regulator’s proposals were “not the right way to go”.

“We do not deny that we are strong but we are strong because we have
made the necessary investments to be strong and it would be unfair to
criticise us or restrict us because we have made these investments,”
he told Reuters, when asked about the proposals in the draft report.

Joseph said rivals had failed to invest in a network of agents, where
users carry out services like cash withdrawal. “They want this agent
network to be handed to them on a plate,” he said.

The regulator would consider the views of operators, including
Safaricom, before publishing and implementing its recommendations on
boosting competition in the sector, said the Communications
Authority’s acting head of public affairs Christopher Wambua.

Safaricom this month criticised the regulator’s mooted proposals
including those to control data and call prices.

Wambua declined to comment on the specific issues raised by Safaricom.

Safaricom’s rivals, India’s Bharti Airtel and Telkom Kenya, owned by
London-based investment group Helios, have long demanded that the
regulator act to curb Safaricom’s dominance.

Safaricom denies any allegations of abuse of dominance.

Telkom and Airtel Kenya are reportedly considering a merger in order
to take on Safaricom’s might. (Reporting by Duncan Miriri Editing by
Maggie Fick and Adrian Croft)

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.@KenyaAirways isn't holding "a sword and a gun" to its rivals, but is "here to push things forward in a positive manner," @MikoszSebastian added.
Kenyan Economy


Kenya Airways Plc could cozy up to rival South African Airways as the
embattled companies seek to narrow the gap with the continent’s
biggest carrier, Ethiopian Airlines Enterprise.

The Nairobi-based airline, sub-Saharan Africa’s third largest by
passenger traffic, views a closer relationship with SAA, the No. 2, as
a possibility amid turnaround efforts at the unprofitable operators,
Chief Executive Officer Sebastian Mikosz said in an interview.

The continent’s traffic flows are also relatively small, accounting
for just 2.4 percent of the global total last year, with the region’s
99.1 million passengers carried amounting to 30 million fewer than at
European discount specialist Ryanair Holdings Plc alone.

“It’s a small market, so you’re better off talking to people rather
than just fighting them,” Mikosz said.

Kenya Air’s financial performance is “improving,” but it’s too early
to say that the carrier, 27 percent owned by Air France-KLM Group, is
out of trouble, according to the CEO. “We’re still in a phase of
healing ourselves,” he said. SAA didn’t immediately respond to calls
and emails seeking comment.

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@StanChartKE reports Q1 2018 Earnings
Kenyan Economy


Par Value:                  5/-
Closing Price:           210.00
Total Shares Issued:          343510571.00
Market Capitalization:        72,137,219,910
EPS:             19.64
PE:                 10.692

Standard Chartered Bank Kenya Ltd. Q1 2018 results through 31st March
2018 vs. 31st March 2017

Q1 Kenya government securities available for sale 112.074426b vs.
96.284760b +16.399%
Q1 Loans and advances to customers (net) 113.847613b vs. 116.875407b -2.591%
Q1 Customer deposits 231.986234b vs. 205.016693b +13.155%
Q1 Net interest income/ [loss] 4.845317b vs. 4.635549b +4.525%
Q1 Total operating income 7.108961b vs. 6.760968b +5.147%
Q1 Loan loss provision [1.065080b] vs. [0.772332b] +37.904%
Q1 Total other operating expenses [4.336600b] vs. [3.756733b] +15.435
Q1 Profit/ [Loss] before tax and exceptional items 2.772361b vs.
3.004235b -7.718%
Q1 Profit/ [Loss] after tax and exceptional items 1.837000b vs.
2.053076b -10.525%
EPS 5.23 vs. 5.98 -12.542%
Net NPL and advances 11.361861b vs. 10.460817b +8.614%

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Kenya Shilling versus The Dollar Live ForexPros
Kenyan Economy


Nairobi All Share Bloomberg +2.06% (-11.111% since record high of
196.57 set on April 5th)

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

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