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Satchu's Rich Wrap-Up
 
 
Tuesday 27th of November 2018
 
Morning
Africa

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Normal Board - The Whole shebang
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The Latest Daily PodCast can be found here on the Front Page of the site

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A Blue Sky Opportunity @BlueEconomy2018
Africa


“When you look at the blue economy, it has an asset value of $24
trillion and that’s delivering something between $4-500bn each year in
terms of the dividend to humanity,” says Professor Ove Hoegh-Guldberg,
director of the Global Change Institute.

Macro Thoughts


2. In December of 2017, Bitcoin rose within striking distance of
$20,000 📈 Today, the coin has slumped below $4,000 📉 3,760.00 Last

https://twitter.com/crypto/status/1067067433587023872

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26-NOV-2018 :: Armageddon Cryptogeddon and BITCOIN.
Africa


It was an in an article on Dec 30th 2016 that I wrote that my
conviction Trade for 2017 was  1. Long BITCOIN. BITCOIN was trading at
levels around $1,000.00 going into 2017. My Thesis was that BITCOIN
and the entire crypto-currency World which had been very esoteric and
something of a closed World of ''bug-eyed'' Gamers and the Off-Grid
Folks who wanted throw the Yoke of Government off their backs, would
''mainstream'' And it ''mainstreamed'' beyond my wildest dreams
through 2017. By November 2017 BITCOIN was knocking on the door of
$10,0000.00 and on the 27th November 2017, I wrote an article
captioned  Bitcoin "Wow! What a Ride!" and advised booking the profits
on the Trade. A more than 9.7x Price Inflation was getting
uncomfortably close to outpacing the Tulip Mania [see Graph] BITCOIN's
parabolic price rally had spawned thousands of other crypto currencies
which were sold on the same grounds as the greatest South Sea Bubble
prospectus: “For carrying on an undertaking of great advantage, but
nobody to know what it is.”

The Price inflated further reaching a high of $19,763.00 on 18 dec
2017. By the first of January this year we had retreated to
$13,428.00. On the 02-JAN-2018 I reiterated my Point to get out and
said '' I am no longer bullish bitcoin, in fact, I am bearish''  At
this point in time, I met Folks on these Streets who would pull out
their Computer and show me how they were making money every second
[Look at that they would say and indeed There was a number and it was
ticking higher] mining BITCOIN. The recent cryptocurrency market
decline has resulted in a similar drop in mining profitability and
forced Chinese operators to sell their mining devices at a loss. Some
mining machines are being sold on the second-hand market for merely 5
percent of their original value.  Others would tell me, I've bought
Nvidia. Crypto at this point was at Peak Phenomenon.

As I write this BITCOIN is trading at $3,650.00. I think its going
right back to levels below $1,000.00.

We have yet to hit peak melt-down. The reason being so many Folks
espouse the HODL philosophy.

GameKyuubi posted "I AM HODLING," a drunk, semi-coherent, typo-laden
rant about his poor trading skills and determination to simply hold
his bitcoin from that point on. "I type d that tyitle twice because I
knew it was wrong the first time. Still wrong. w/e," he wrote in
reference to the now-famous misspelling of "holding." "WHY AM I
HOLDING? I'LL TELL YOU WHY," he continued. "It's because I'm a bad
trader and I KNOW I'M A BAD TRADER.  Yeah you good traders can spot
the highs and the lows pit pat piffy wing wong wang just like that and
make a millino bucks sure no problem bro."

He concluded that the best course was to hold, since "You only sell in
a bear market if you are a good day trader or an illusioned noob.  The
people inbetween hold. In a zero-sum game such as this, traders can
only take your money if you sell." He then confessed he'd had some
whiskey and briefly mused about the spelling of whisk(e)y.  [HODL
Definition | Investopedia]

Selling at todays levels frankly is still a great Trade.

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27-NOV-2017 :: Bitcoin "Wow! What a Ride!" @TheStarKenya
Africa


“But it is a curve each of them feels, unmistakably.It is the
parabola. They must have guessed, once or twice -guessed and refused
to believe- that everything, always, collectively, had been moving
toward that purified shape latent in the sky, that shape of no
surprise, no second chance, no return.’’

Let me leave you with Hunter S. Thompson, “Life should not be a
journey to the grave with the intention of arriving safely in a pretty
and well preserved body, but rather to skid in broadside in a cloud of
smoke, thoroughly used up, totally worn out, and loudly proclaiming
“Wow! What a Ride!”

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"WHY AM I HOLDING? I'LL TELL YOU WHY," he continued. "Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro."
Africa


BREAKING DOWN 'HODL'
The term HODL (or hodl) originated in 2013 with a post to the
bitcointalk forum. The price of bitcoin had surged from under $15 in
January 2013 to a high of over $1,100 at the beginning of December
2013. In the 24 hours to 10:00 a.m. UTC, Dec. 18 – possibly in
response to reports of a Chinese crackdown – the price of bitcoin fell
39%, from $716 to $438, according to CoinDesk's bitcoin price index.

I AM HODLING
At 10:03 a.m. UTC on Dec. 18, GameKyuubi posted "I AM HODLING," a
drunk, semi-coherent, typo-laden rant about his poor trading skills
and determination to simply hold his bitcoin from that point on. "I
type d that tyitle twice because I knew it was wrong the first time.
Still wrong. w/e," he wrote in reference to the now-famous misspelling
of "holding." "WHY AM I HOLDING? I'LL TELL YOU WHY," he continued.
"It's because I'm a bad trader and I KNOW I'M A BAD TRADER.  Yeah you
good traders can spot the highs and the lows pit pat piffy wing wong
wang just like that and make a millino bucks sure no problem bro."

He concluded that the best course was to hold, since "You only sell in
a bear market if you are a good day trader or an illusioned noob.  The
people inbetween hold. In a zero-sum game such as this, traders can
only take your money if you sell." He then confessed he'd had some
whiskey and briefly mused about the spelling of whisk(e)y.

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Africa


Home Thoughts

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Ozymandias BY PERCY BYSSHE SHELLEY
Africa


I met a traveller from an antique land,
Who said—“Two vast and trunkless legs of stone
Stand in the desert. . . . Near them, on the sand,
Half sunk a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them, and the heart that fed;
And on the pedestal, these words appear:
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
Nothing beside remains. Round the decay
Of that colossal Wreck, boundless and bare
The lone and level sands stretch far away.”

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A classic shot by #WPYalumni Anup Shah in honour of tonight's #dynasties. @NHM_WPY
Africa


In this tense introduction, the cub's mother had just returned from
giving birth to bond her cubs with the pride male. The intensity of
the stare captures the intimacy of relationships within lion prides.

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.1337
Dollar Index 97.013
Japan Yen 113.545
Swiss Franc 0.9986
Pound 1.2813
Aussie 0.7230
India Rupee 70.915
South Korea Won 1129.685
Brazil Real 3.9405
Egypt Pound 17.9570
South Africa Rand 13.9055

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Africa


In a statement, the embassy said it had received credible and specific
information of a possible terrorist threat against US Government
facilities in Kinshasa.
The embassy has urged U.S citizens to keep a low profile as it
assesses the threat.
“US citizens in Kinshasa and throughout the DRC are strongly
encouraged to maintain a heightened level of vigilance and practice
good situational awareness. Monitor local media for updates,” reads
part of the statement.
The Democratic Republic of Congo is expected to hold elections on
December 23 with campaigns now in high gear.

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Mozambique - Militant attack in Cabo Delgado province Signal Risk
Africa


Maputo - Twelve people have been killed in a suspected Islamist attack
in northern Mozambique, with thousands of villagers fleeing the area
into neighbouring Tanzania, police sources said Sunday.
Early Friday, "there was an attack in Nangade district, where there
are no security patrols. The attackers killed 12 people, mostly women
and children," a police source in Cabo Delgado province, who asked not
to be named, told AFP.
The attack took place in the village of Chicuaia Velha, just a few
kilometres (miles) from Tanzania, forcing several thousand people to
cross the border to seek safety, police said.
A local journalist said the villagers were killed by machete or died
when their houses were set on fire by the attackers.
It was the third such incident in the last month in Cabo Delgado,
leaving 20 dead in all.

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Al Shabaab gunmen kill cleric, nine others at religious centre in Somalia: police @ReutersAfrica
Africa


Al Shabaab gunmen and a suicide car bomber struck a religious centre
in central Somalia on Monday, killing a cleric and at least nine of
his followers, a police officer said.
“A car bomb rammed into the centre of the man who insulted the
prophet. Our militants are now inside and fighting goes on,” Al
Shabaab spokesman Abdiasis Abu Musab told Reuters.
Residents of Galkayo and a regional official said Abdiweli may have
also been targeted because his centre hosts mostly youths who play
music and dance.
Al Shabaab said last year the cleric had referred to himself as the
Prophet, an accusation denied at the time by Abdiweli.
“We cannot know the figure of casualties right now. Al Shabaab had
threatened him many times,” Abdirashid Hashi, the governor of Mudug
region, told Reuters.

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.@airtelafrica unit of @Airtel_Presence said it had appointed eight banks for an (IPO) on an international stock exchange
Africa


 @jpmorgan @Citi @BankofAmerica @Absa @Barclays @BNPParibas
@GoldmanSachs @StandardBankZA

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South Africa All Share Bloomberg -13.13% 2018
Africa


Dollar versus Rand 6 Month Chart INO 13.9055

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 17.9570

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

Egypt EGX30 Bloomberg

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

Nigeria All Share Bloomberg -17.42% 2018

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

Ghana Stock Exchange Composite Index Bloomberg +0.25% 2018

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

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New @BarrickGold CEO eyes miners' alliance to fix Tanzania tax row @ReutersAfrica
Africa


In an increasingly acrimonious conflict that has lasted almost two
years, the government has torn up mining contracts, hiked taxes and
royalties, and banned raw minerals exports.
President John Magufuli, nicknamed “The Bulldozer”, swept to power in
2015 pledging to secure a bigger share of resource wealth and cut
corruption. Acacia was later handed a $190 billion tax bill - about
four times the country’s gross domestic product - for underreporting
output.
The miner, 63.9 percent owned by Barrick, now faces dozens of criminal
charges, from tax evasion to money laundering, with three employees
arrested on related accusations
Randgold founder Mark Bristow, Barrick’s new CEO after its $6.1
billion acquisition of Randgold closes on Jan. 1, says fixing
Barrick’s mounting problem in Tanzania could require a collective
strategy that has not been used there before.
“Tanzania has got a broader (mining) industry and the importance of
the industry itself getting together with government is not a bad
idea,” Bristow told Reuters in an interview earlier this month.
While there is as yet no agreement to coordinate, “I don’t think it’s
a bad place to start”, he said.
Mining accounted for 4.8 percent of Tanzania’s GDP in 2016, the last
year for which figures are available. Acacia dominates the industry,
followed by AngloGold Ashanti, Petra Diamonds and Shanta Gold.
AngloGold said it would consider allying with Acacia on the issue. A
source at another mining company, who did not want to speak publicly,
said it may be challenging to unite Tanzania’s mining industry, which
may “not want to inherit” Acacia’s issues.
The collective approach is not assured to succeed.
A new code in the Democratic Republic of Congo, which scrapped a
stability agreement while hiking royalties and taxes, was enacted
despite vigorous opposition from miners led by Randgold and Glencore.
But Bristow, who says he plans to intervene in Tanzania before the
takeover closes, is confident he can break the impasse.
 “Barrick is concerned about the situation in country at the moment.
It’s desperate,” he said.
Executive Chairman John Thornton, who last October struck a framework
deal with the government that is still not enacted, said Bristow has
“great standing” in Tanzania.
Under the October deal, Acacia was to pay the government $300 million,
give it 16 percent ownership and split the economic benefits of its
mines.
Acacia, which has lost more than two-thirds of its value since early
2017, was blindsided by the deal, a source said. The biggest hurdle to
its enactment is disagreement over the $300 million pay-out schedule
and whether it settles the long-standing tax dispute, the source said.
One of Barrick’s two lead negotiators, special envoy to Tanzania and
former chief operating officer Richard Williams, recently left the
company.
 Barrick’s head of strategy Kevin Thomson will now work on the matter
with Barrick’s new Africa and Middle East COO Willem Jacobs, who will
take up Williams’ responsibilities.
Jacobs, formerly Randgold’s head of Central and East African
operations, ran talks for the miner in Congo.

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Traders' shock as Tanzanian govt seizes cashew nuts via @The_EastAfrican
Africa


Tanzania's cashew nut traders are staring at huge losses following the
government's move to confiscate the produce of those who fail to show
proof that they are farmers.
The government has launched the verification exercise to rid the
sector of middlemen who have dominated the cashew nut trade for years.
In southern Mtwara and Lindi regions, where the army was deployed to
collect cashews bought by the government, the authorities have been
confiscating thousands of tonnes of nuts.
Cooperatives have warned that they would be left saddled with huge
debts after bankrolling farmers to prepare the farms and purchase
inputs following the government decision to pay farmers directly for
the produce.

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@StanChartKE share price data
Kenyan Economy


Closing Price: 188.75
Market Cap: $632.55m
EPS:19.64
PE: 9.610

@StanbicKE released their Q3’2018 results with Profit After Tax (PAT)
increasing by 46.7% to Kshs 4.7 bn from Kshs 3.2 bn in Q3’2017;
@CytonnInvest #cytonnreport
@StanbicKE Non-Funded Income (NFI) increased by 19.6% to Kshs 7.4 bn
in Q3’2018 The growth in NFI was driven by a 56.9% increase in other
income to Kshs 2.1b
@StanbicKE  Total assets increased by 21.0% to Kshs 286.3 bn from Kshs
236.56 bn in Q3’2017 +16.3% increase in the loan book to Kshs 141.1 bn
from Kshs 121.3 bn

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Short-term Sh16bn debt takes toll on @KenyaPower @dailynation
Kenyan Economy


Electricity distributor Kenya Power’s #ticker:KPLC 47.7 per cent surge
in short-term debt has plunged the company into a Sh16.1 billion
negative working capital position, forcing it to open negotiations for
loan restructuring.
Kenya Power said last week that it had opened talks with its creditors
to extend the payment period for segments of its loan obligations that
are due to mature in the current financial year.
“We are beginning to renegotiate part of the loans and convert them
into long-term debt to bridge the negative liquidity gap,” acting
chief executive Jared Othieno said.
Renegotiating some of the debt covenants with the creditors is aimed
at ensuring that the current liabilities do not exceed current assets.
Kenya Power’s financial statement that was released last week showed
that liabilities that are due for servicing in the next 12 months
stood at Sh106 billion or 48.5 per cent higher than the Sh54.6 billion
current assets available to service such obligations.
This negative working capital position coupled with insufficient
provisioning for outstanding debts forced Auditor-General Edward Ouko
to offer a qualified opinion on the company’s accounts.
“Were the accounts qualified? Yes they were. It relates mostly to the
borrowing covenants. The covenant we have is that we should maintain a
cash ratio of 1:1 for some of these loans,” Mr Othieno said.
Kenya Power’s total debt stands at Sh113 billion, down from last
year’s Sh122 billion but it is the surge in short-term liabilities
that has caused the latest pressure.
Mr Othieno, however, ruled out asking shareholders for funds to bridge
cash flow shortfalls.
“We have not reached a point where we are going back to our
shareholders for a rights issue. We are keen on restricting (this)
debt into the long term,” he said.
In the year under review, cash flow constraints forced Kenya Power to
turn to short-term borrowing to finance some of its operating costs, a
development that increased its finance costs by 29.3 per cent to Sh7.8
billion.
Besides, electricity generator KenGen has hit Kenya Power with a Sh1
billion interest penalty for late payments for power supplied.

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@KenyaPower share data
Kenyan Economy


Par Value:                  20/-
Closing Price:           3.55
Total Shares Issued:          1951467045.00
Market Capitalization:        6,927,708,010
EPS:             0.98
PE:                 3.622

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Kenya Shilling versus The Dollar Live ForexPros 102.50
Kenyan Economy


Nairobi All Share Bloomberg -15.64% 2018

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

Nairobi ^NSE20 Bloomberg -25.34% 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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November 2018
 
 
 
 
 
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