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Friday 25th of January 2019
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Morning Africa |
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Macro Thoughts |
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U.S. Sails Warships Through Taiwan Strait, Challenging China @bpolitics Law & Politics |
American Navy vessels sailed through the disputed Taiwan Strait, the
U.S.’s first known show of force in the area since November.
The warships sailed north through the strait on Jan. 24, Taiwan’s
Ministry of National Defense said in a statement on Thursday. It’s the
U.S. Navy’s fourth passage since July last year, the island’s Central
News Agency reported. An October sail-by prompted China to “express
concern” to the U.S.
Chinese aircraft, including H-6 bombers and KJ-500 airborne early
warning and control systems, also flew from the mainland Thursday
through the Bashi Channel for far-sea training before returning to
their base via the same route, Taiwan’s defense ministry said.
“This routine transit through international waters of the Taiwan
Strait demonstrates the U.S. commitment to a free and open
Indo-Pacific,” Pentagon spokesman Lieutenant Colonel Christopher Logan
said in the CNA report. “The U.S. will continue to fly, sail and
operate anywhere international law allows.”
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Congo's Tshisekedi @fatshi13 Sworn In as President, Ending Kabila's Rule@business Africa |
Felix Tshisekedi took the oath of office to become president of the
Democratic Republic of Congo, completing the country’s first
transition of power by the ballot box after an election questioned by
rivals and influential vote monitors.
Tshisekedi, 55, becomes only the fifth head of state in the cobalt-
and copper-rich nation since it gained independence from Belgium in
1960. The election of the leader of Congo’s biggest opposition party,
disputed by rival candidate Martin Fayulu, brings to an end the
18-year rule of Joseph Kabila, who was barred from seeking a third
term by the constitution.
“This is a historic day,” he said at a ceremony in the capital,
Kinshasa. “We want to build a Congo that’s strong and that focuses on
its development, on peace, on stability.”
Tshisekedi briefly interrupted his speech after he felt unwell,
according to Politico.CD, a Kinshasa-based news website. He resumed
speaking after removing his bullet-proof vest, which had been causing
him discomfort, it reported, without citing anyone.
A body representing Congo’s Catholic bishops said the official tally
didn’t reflect the findings of its nationwide observer mission, while
leaked troves of near-matching voting data show Fayulu obtained more
votes than Tshisekedi, according to New York University’s Congo
Research Group. African leaders called for a recount of the vote
before dropping the demand and urging stability instead.
Fayulu says Tshisekedi and Kabila struck a secret agreement following
the vote to deprive him of the presidency -- a charge denied by both
camps. He was backed during the presidential campaign by Moise Katumbi
and Jean-Pierre Bemba, two of Kabila’s most powerful adversaries.
Kabila’s hand-picked successor, Emmanuel Ramazani Shadary, finished a
distant third in the polls.
The scion of long-time opposition leader Etienne Tshisekedi, who died
two years ago, Tshisekedi campaigned on pledges to clamp down on
rampant corruption, enhance security and promote development. In the
days leading up the electoral commission’s Jan. 10 declaration of his
victory, he also gave strong indications that he won’t pursue
investigations of Kabila or members of the current government.
Kabila’s tenure was marred by a controversial 2011 re-election,
violent crackdowns on opposition supporters and allegations that he
used his position to expand his family’s business interests.
Tshisekedi’s capacity to act independently remains a subject of fierce
debate after Kabila’s coalition won a large majority in the National
Assembly, despite Shadary’s poor performance in the presidential
election.
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08-OCT-2018 :: One Domino that has suddenly tipped over is Zimbabwe Africa |
Reuters reported that People again formed long queues to fill up their
cars in the capital, with others panic-buying basic goods like
cookingoil and sugar. There are $9.3 billion of Zollars in banks
compared to $200 million in reserves, official data showed, a mis-
match that creates a premium for the U.S. dollar and fans the black
market. On the black market, the premium for the U.S. dollar spiked to
a new record on Saturday, reaching 165 percent from 120 percent on
Monday, traders said that means buying $100 in cash via a bank
transfer cost $265, up from $220 earlier this week. The Government’s
''’Voodoo Economics’’ where it spent $1.3b pump-priming the economy
ahead of the election [money it did not have] was the straw that broke
the camel’s back.
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Africa |
He said his country has provided 8 billion riyals ($2.1 billion) in
the past four years, “and we wouldn’t hesitate in supporting Sudan at
anytime.” Al-Qasabi didn’t say what form any economic assistance would
take.
The Saudi official’s visit came a day after Qatar expressed its
support for President Omar al-Bashir’s government and Sudan’s oil
minister said Russia and Turkey had offered economic assistance. The
United Arab Emirates has also provided Sudan with $300 million in
financing and 1.12 million tons of fuel, according to a Sudanese
newspaper and a ruling party lawmaker.
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Stroke of a Pen Upsets Kenyan Deputy's Presidential Ambitions @business's @herbling and @eombok Kenyan Economy |
Kenyan President Uhuru Kenyatta gave his security chief responsibility
for enacting far-reaching development plans, limiting the role of his
deputy, William Ruto, who plans to run for the East African nation’s
top job in 2022.
The appointment of Interior Secretary Fred Matiang’i as chairman of
the new cabinet committee means he’ll oversee Kenyatta’s so-called Big
Four agenda that includes developing public services and housing,
plans crucial to the president’s legacy. But it may also signal a
growing rift in the ruling Jubilee Party as some factions oppose a
presidential bid for Ruto, who delivered Kenyatta, an ethnic Kikuyu,
key votes from his Kalenjin community in return for future support.
“By the stroke of the pen, the president and his handlers want Ruto to
start gasping for air,” said Javas Bigambo, an independent political
analyst in the capital, Nairobi. “The interior minister is now the
leader of government business. It’s a lack of confidence in the deputy
president.”
It is “telling” that Kenyatta bypassed Ruto for the job, he said by
phone. “The deputy president works at the mercy and discretion of the
president. The president can decide to empower or undermine him.”
Presidential spokeswoman Kanze Dena didn’t respond to phone calls
seeking comment on the reasons for this week’s appointment and whether
it sidelined Ruto. The deputy president said on Thursday that
government officers “at all levels should align their operations” with
Kenyatta’s order, according to a statement posted on his Twitter
account.
Kenyatta and Ruto “didn’t come together because they’re friends, they
came together because of interests,” said Edward Kisiang’ani, a
politics lecturer at Kenyatta University in Nairobi. “Interests have
now changed, you can’t force them together. For now the interests are
not the same. One is legacy, the other is 2022.”
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EABL reports HY 2019 EPS +25.144% Earnings here Kenyan Economy |
Par Value: 2/-
Closing Price: 171.00
Total Shares Issued: 790774356.00
Market Capitalization: 135,222,414,876
EPS: 7.19
PE: 23.783
EABL HY 2019 results through 31st December 2018 vs. 31st December 2017
HY Revenue 41.574b vs. 35.156b +18.256%
HY Cost of sales [22.402b] vs. [20.831b] +7.542%
HY Gross profit 19.172b vs. 15.969b +20.058%
HY Total costs [9.453b] vs. [8.686b] +8.830%
HY PBT 9.719b vs. 7.283b +33.448%
HY PAT 6.609b vs. 4.952b +33.461%
Basic EPS 6.52 vs. 5.21 +25.144%
Cash and cash equivalents at the end of the period 8.757b vs. 4.584b +91.034%
Interim dividend per share 2.50 vs. 2.00 +25.00%
“Gross profit improved by 20 per cent and profit after tax grew 33 per
cent driven by strong top-line performance, positive product mix, cost
efficiencies driven through the productivity initiatives and reduced
interest charge,” EABL said.
The company said innovations contributed Sh8.2 billion to net sales
across the markets driven by brands such as Serengeti Lite, Tusker
Cider, Black & White, Captain Morgan Gold and Uganda Waragi Pineapple.
Key Highlights:
• Group's volumes grew by 13% driven by strong performance
from mainstream spirits, bottled beer and Senator Keg across the
region.
• Innovations contributed Kshs 8.2 billion to net sales
across our markets driven by brand as Serengeti Lite, Tusker Cider,
Black & White Captain Morgan Gold and Uganda Waragi Pineapple
• Gross profit improved by 20% and profit after tax grew
33% driven by strong top line performance, positive product mix, cost
efficiencies driven through productivity initiatives and reduced
interest charge
• Group's capital expenditure stood at Kshs 5 billion with
new Kisumu brewery set to be commissioned soon supporting the future
growth of the business. The strong cash performance driven by focus on
working capital management resulted in a reduction of net debt.
Overall, EABL delivered a strong set of results in the first half of
the year across all segments and markets compared to a weak half-year
during the period last year. This robust set of results, supported by
continued investment behind our brands, places us on a great growth
trajectory to achieve our ambition.
Dividend
The Board of Directors has recommended an interim dividend of Kshs
2.50 per share. The record date for qualification of the dividend is
22 February 2019.
The dividend shall be paid net of withholding tax on or about 11 April 2019.
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