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Satchu's Rich Wrap-Up
 
 
Tuesday 16th of October 2018
 
Morning
Africa

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Normal Board - The Whole shebang
Prompt Board Next day settlement
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Being short tether anywhere close to $1 is a good trade. @PeterLBrandt
Africa


I am old enough to remember the 1929 US bank closures. 😉😉 There will
be a day when the banks (many crypto exchanges) will be closed when
traders want to withdraw tether. Being short tether anywhere close to
$1 is a good trade.

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We travelled to Lewa Downs last week specifically to work with the Grevy's Zebra. @David_Yarrow
Africa


We travelled to Lewa Downs last week specifically to work with the
Grevy’s Zebra. Their stripes are narrower and less continuous than
plain zebras and in my view they win the aesthetics awards.

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Saudi Arabia Breaks 45-Year Taboo With Veiled Threat to Use Oil as a Weapon @business @JavierBlas
Law & Politics


While few think that Saudi Arabia is prepared to follow through, even
the suggestion of using oil as a weapon undermines Riyadh’s
long-standing effort to project itself as a force for economic
stability. Jeffrey Currie, the head of commodities research at Goldman
Sachs Inc., said Middle East tensions impacting the oil market have
now "broadened to include Saudi Arabia."

Read: Saudis Begin Internal Probe Into Khashoggi Disappearance

The anxieties were exacerbated by an opinion piece penned by Turki Al
Dakhil, who heads the state-owned Arabiya news network and is close to
the Royal Court, in which he openly talked about using oil as a
weapon.

“If President Trump was angered by $80 oil, nobody should rule out the
price jumping to $100 and $200 a barrel or maybe double that figure,”
he wrote.

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King of Saudi Arabia serves at the pleasure of the @Potus - That was agreed on February 1945, when Roosevelt met with King Abdulaziz of Saudi Arabia in person aboard the USS Quincy
Law & Politics


This grand bargain between the US president and a Saudi king
established that oil would always be denominated in Dollars and Folks
from Saddam Hussein to Chavez of Venezuela and now the high re-
presentative of the European Union for foreign affairs Federica Maria
Mogherini have all sought to break the chokehold of the petro Dollar.

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The choice of that moment is the greatest riddle of history - Ryszard Kapuściński, Shah of Shahs.
Law & Politics


It is authority that provokes revolution.  is 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 -
Ryszard Kapuściński, Shah of Shahs.

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15-OCT-2018 :: Maybe just maybe President Erdogan has sharpened his skills and flipped the "Control the yield curve, decide the future" Trade on its head and boomeranged it.
Law & Politics


Maybe just maybe President Erdogan has sharpened his skills and
flipped  the “Control the yield curve, decide the future” Trade on its
head and boomeranged it with the release of Pastor Brunson and
leveraging the extraordinary events in a Saudi Consulate in Istanbul.

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Currency Markets at a Glance WSJ
International Trade


Euro 1.1579
Dollar Index 95.13
Japan Yen 112.04
Swiss Franc 0.9890
Pound 1.3168
Aussie 0.7118
India Rupee 73.935
South Korea Won 1128.18
Brazil Real 3.7356
Egypt Pound 17.9057
South Africa Rand 14.3545

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The family of a #Tanzanian billionaire industrialist, Mohammed Dewji, who was abducted last week offered 1 billion shillings ($437,000) to anyone with new information that will lead to his rescue.
Africa


The family of a Tanzanian billionaire industrialist who was abducted
last week offered 1 billion shillings ($437,000) to anyone with new
information that will lead to his rescue.
Three phone hotlines have been opened to gather information about the
kidnapping of Mohammed Dewji, the 43-year-old owner of MeTL Group, a
family spokesman told reporters Monday at the company’s offices in the
commercial capital, Dar es Salaam. The spokesman, Azim Dewji, didn’t
take further questions.
The abduction of Dewji, listed by Forbes as Africa’s youngest
billionaire with a net worth of $1.5 billion, is the latest worrying
turn for Tanzania. Once described as an “island of peace” in a
turbulent region, the East African nation has seen a recent spate of
politically motivated violence. Police have arrested 26 people in
connection with Dewji’s kidnapping, the local Mwananchi newspaper
reported Monday.
MeTL accounts for about 3.5 percent of Tanzania’s gross domestic
product, according to its website, importing items including palm oil
and consumer goods, while exporting agricultural products such as
sugar and fertilizer. Operating in countries including Ethiopia,
Mozambique and Uganda, it employs about 24,000 people.
Former lawmaker Dewji was seized by unidentified people around the
Colosseum Hotel in Dar es Salaam at about 5:35 a.m. on Oct. 11, the
spokesman said. The East African, a regional newspaper, cited the
city’s police commander as saying he was taken by armed “white men.”
Home Affairs Minister Kangi Lugola told reporters Saturday that there
have been 21 reported kidnappings in Tanzania between January and
October, but they were isolated incidents with varying motives. He
said the country with East Africa’s third-biggest economy is safe for
investors.
Amid speculation over Dewji’s disappearance, a Twitter hashtag
#bringbackourmo has been tweeted about 1,400 times.
“Another night we go to sleep without knowing where our fellow
Tanzanian and brother @moodewji is or his condition,” Zitto Kabwe, the
leader of the opposition Alliance for Change and Transparency, said
late Sunday on Twitter. “Mo’s wife and children are in what state? His
parents are in what state? It is very painful.”

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DRC identifies 'second wave' of Ebola in east @AFP
Africa


A second wave of the Ebola virus has been confirmed in eastern
Democratic Republic of Congo, where an initial outbreak has already
killed 125 people, a minister said Saturday.
The latest wave is centred in Beni, a town in North Kivu near the
border with Uganda, said Health Minister Dr Oly Ilunga.
"We don't yet know the scale of it," he added. "The epicentre, which
was in Mangina is now in Beni." The two towns lie about 20km apart.
This second wave occurred as a result of community resistance to
measures taken to tackle the disease, Ilunga said.
"The epidemic in Beni is high risk.. and the situation is worrying."

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Zimbabwe Inflation Accelerates at Fastest Pace in Eight Years @BBGAfrica
Africa


Zimbabwean consumer prices rose at the fastest pace since 2010 last
month, as a shortage of foreign exchange curbed supplies of basic
commodities including wheat.

The inflation rate climbed to 5.4 percent, from 4.8 percent in August,
the Harare-based Zimbabwe National Statistics Agency said in an
emailed statement Monday. Prices increased 0.9 percent in the month,
more than double the rate in August, it said.

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Nigeria's external reserves has declined by $4.2 billion since July 5th, 2018 due to increased dollar sales by the CBN
Africa


Nigeria’s external reserves has declined by $4.2 billion since July
5th, 2018 due to  increased dollar sales by the CBN to forestall naira
depreciation in the face of increased dollar demand from foreign
portfolio investors exiting the nation’s financial markets

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Kenya Sees $545 Million for Affordable-Housing Fund in 2018 @BBGAfrica
Kenyan Economy


Kenya plans to raise as much as 55 billion shillings ($545 million)
this fiscal year for an affordable-housing fund through a new tax,
helping the state to finance 500,000 new low-income units promised by
President Uhuru Kenyatta.
The average cost for each unit will be 2.3 million shillings,
Principal Secretary for Housing and Urban Development Charles Hinga
said Monday at a forum in the capital, Nairobi.
The government introduced a 1.5 percent tax for both workers and
employers in the fiscal year that began in July to fund the housing,
which Kenyatta says will be built before his second and final term
ends in 2022.
“We will be able to provide long-term mortgage and tenant-service
schemes, and provide credit with interest rates of 3-5 percent to
achieve an affordable housing vision” in which no one spends more than
30 percent of their disposable income on housing, Hinga said.
While 72 percent of all formally employed Kenyans earn between 15,000
shillings and 49,999 shillings a month, only 2 percent of the 50,000
houses built in the country each year are targeted at those on lower
incomes, Hinga said.
Kenya had only 26,187 mortgages by the end of 2017, worth an average
of 10.9 million shillings, according to central bank data. Home-loan
assets stood at 223.2 billion shillings last year, with six lenders
providing three quarters of the financing.
Kenya has a shortfall of 2 million units and needs to construct
300,000 houses annually to plug the deficit, according to Carlos
Felipe Jaramillo, the country director for the World Bank.
Historically, high land prices were the biggest cause of inflated
housing costs, leaving only 18 percent of the population owning homes
in urban areas, according to the Kenya Bankers Association.
“Nairobi has the most expensive land in Africa,” Hinga said. “And this
is because we don’t have enough serviced land and also there is a lot
of land that is going from one hand to another for speculative
purposes.”

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@KeEquityBank of Kenya Sees $22 Million FinTech Income This Year @BBGAfrica
Kenyan Economy


Equity Group Holdings Ltd., Kenya’s biggest bank by market value,
expects its financial-technology unit to bring in as much as 2.2
billion shillings ($22 million) of revenue in its first year of
independent operations, according to Chief Executive Officer James
Mwangi.
The bank “has resolved to make Finserve an independent commercial
subsidiary,” Mwangi said in a statement published in the Nairobi-based
Sunday Nation newspaper. The unit serves 1.96 million subscribers on
its mobile-banking platform, Equitel, he said.
The unit, Finserve Africa Ltd., became an independent entity this year
and facilitates cross-border transactions in seven Eastern African
nations worth 2 billion shillings each month, according to the
statement.
It has a startup capital base of 1 billion shillings and its assets
are valued at 1.98 billion shillings, Mwangi said.
The wholly owned subsidiary will use its parent’s partnerships with
companies including American Express Co., Alipay and WeChat to
capitalize on global transactions and payments through Equitel, which
operates Equity’s Jenga Payment Gateway.
Equity introduced Equitel in May 2014 as profitability from some
regional units declined, and to take advantage of Kenyans’ affinity
for mobile money for payments and micro-loans.
Kenya’s biggest mobile-money platform known as M-Pesa, belonging to
the local unit of Vodacom Group Ltd., processed 1.48 trillion
shillings of transactions in the first quarter, or 79 percent of the
country’s total.
Finserve has been in negotiations with six Ethiopian banks on
cross-border mobile payments and e-commerce, Managing Director Jack
Ngare said in August. Ethiopians living abroad sent about $4.6 billion
back home last year, about a quarter of the nation’s annual
foreign-exchange earnings.

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@KeEquityBank share price data here -3.144% 2018
Kenyan Economy


Par Value:                  0.50/-
Closing Price:           36.50
Total Shares Issued:          3702777020.00
Market Capitalization:        135,151,361,230
EPS:             5
PE:                 7.300

Market Capitalization: $1.339b EPS: 5
PE: 7.300 Total Return -3.144% in 2018

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Kenya Shilling versus The Dollar Live ForexPros
Kenyan Economy


Nairobi All Share Bloomberg -17.18% 2018

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

24-SEP-2018 ::  Bears roam the @NSE_PLC and the number of Zombies
grows @TheStarKenya

http://bit.ly/2ON90qD

Nairobi ^NSE20 Bloomberg -25.03% 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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October 2018
 
 
 
 
 
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