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Satchu's Rich Wrap-Up
Monday 04th of February 2019

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Queen to be evacuated if Brexit turns ugly - reports @guardian
Law & Politics

British officials have revived cold war emergency plans to relocate
the royal family should there be riots in London if Britain suffers a
disruptive departure

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ULTIMA HORA! General reconoce a @jguaido como presidente y llama a desconocer a Maduro @SContrerasB
Law & Politics

Se trata del General de División Francisco Esteban Yánez Rodríguez (7.101.984)
Presidente de la Junta Permanente de Evaluación de la Comandancia
General de la Aviación Militar Bolivariana.

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"Two intelligence officers even reported that they have been warned to avoid giving the President intelligence assessments that contradict stances he has taken in public," reports @TIME.
Law & Politics

The problem has existed since the beginning of Trump’s presidency, the
intelligence officials say, and for a time they tried to respond to
the President’s behavior in briefings with dark humor. After a
briefing in preparation for a meeting with British Prime Minister
Theresa May, for example, the subject turned to the British Indian
Ocean Territory of Diego Garcia. The island is home to an important
airbase and a U.S. Naval Support Facility that are central to
America’s ability to project power in the region, including in the war
in Afghanistan.

The President, officials familiar with the briefing said, asked two
questions: Are the people nice, and are the beaches good? “Some of us
wondered if he was thinking about our alliance with the Brits and the
security issues in an important area where the Chinese have been
increasingly active, or whether he was thinking like a real estate
developer,” one of the officials said wryly.

Trump, they said, pointed at the map and said he knew that Nepal was
part of India, only to be told that it is an independent nation. When
said he was familiar with Bhutan and knew it, too, was part of India,
his briefers told him that Bhutan was an independent kingdom.

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04-FEB-2019 :: Venezuela, Iran, DR Congo
Law & Politics

I started my week interviewing the Portuguese Writer Maria João Lopo
de Carvalho about Luís de Camões and her book which followed his c16th
journey from Portugal to Macau via boat which stopped at the Cape of
Good Hope, Mozambique, Mombasa, Malindi, Oman, Hormuz. Goa, Sri Lanka,
Malacca and was introduced to the poetry of Camões [whom I am now

— Time changes, and our desires change. What we
believe—even what we are—is ever-
changing. The world is change, which forever
takes on new qualities.

And in that intrepid spirit of Camões and of casting our eyes wider
and toward far horizons, I wanted to to look at three fluid and fast
moving scenarios.

Lets start with Destination Caracas Venezuela. Here years of sanction
warfare [The Star Aug 2018 @realDonaldTrump seems to be relishing his
financial warfare strategies. Nicolas Maduro in Venezuela is being
attacked by remote-controlled drone] accompanied with rank
mismanagement has brought the country to that Hunter S. Thompson brink

 "The Edge... There is no honest way to explain it because the only
people who really know where it is are the ones who have gone over,"
Hunter. S. Thompson.

If one accepts that access to oil ''defined 20th-century empires and
the petrodollar agreement was the key to the ascendancy of the United
States as the world’s sole superpower'' America’s war machine runs on,
is funded by, and exists in protection of oil. Threats by any nation
to undermine the petrodollar system are viewed by Washington as
tantamount to a declaration of war against the United States of
America. The Chavez Revolution was always a rebellion in the
Superpower's back yard and the machine was eventually going to bring
it to heel by hook or by crook.

The Oriental Review's Andrew Korybko headlines his Article  ''A
Venezuelan Coup Could Challenge OPEC+ And Build “Fortress America”
and writes

Russia and China aren’t capable of directly defending Venezuela even
though they’ve voiced their support for international law, and their
real national interests rest with ensuring that Caracas repays its
billions of dollars of loans to them and respects the energy and
military deals that were previously signed despite not having any way
of guaranteeing that will happen if Maduro is overthrown. Therefore,
the most likely international outcome of his ouster would probably be
that the Washington-backed coup “authorities” would declare those
deals null and void, after which they’d likely open up the world’s
largest oil deposits in the Orinoco Belt to US companies. The
long-term repercussions are that the US could challenge Russia and
Saudi Arabia’s OPEC+ alliance and advance its “Fortress America”
geopolitical project in the Western Hemisphere

Maduro is I am afraid going down just like Muammar went down and as did Saddam.

Last week also marked 40 Years of the Islamic Revolution where the
mercurial, enigmatic and often cryptic Ayatollah Khomeini returned
from exile to Tehran and upended the once fabulous Peacock Throne of
Shah Reza Pahlavi who spent his final days looking out to sea in
Panama because none of his erstwhile allies would give him safe haven.
For 40 Years, The US has sanctioned Iran and as long as he fought the
Ayatollah Saddam lived. As much as Chavez's Bolivarian revolution was
to American hegemony, so has been Khomenei's and now Khamenei's Iran.
Barack Hussein Obama tried to recalibrate things but that was a
momentary counter-trend moment. Clearly, the US has ratcheted up the
pressure but the Theocrats have held firm and Europe threw them a bone
last week with the Special Purpose Vehicle designed to facilitate
''essential'' [Food, medicines and the Like] commerce via trading in

What explains Tehran's resilience? It is a Prize that remains beyond
Washington's grasp, for now.

Finally, events in the DR Congo. Whilst Oil and the Petro-Dollar
Economy underpinned US Power Projection, the DR Congo with an
estimated 66% of cobalt [possibly the new Oil] supplies might well
represent the Future. In an extraordinary Plot Twist, President Kabila
invested a losing candidate Félix Tshisekedi with the Presidency and
the US hardly raised a murmur.

“I think the most startling thing is how quickly we have shifted from
a discussion about the integrity of the electoral process to sweeping
all these very serious and credible allegations of electoral fraud
under the carpet,” said Jason Stearns of the Congo Research Group.

Maybe, Dan Gertler is the Puppeteer in Washington? The White House is
very transactional.

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.1443
Dollar Index 95.71
Japan Yen 109.75
Swiss Franc 0.9969
Pound 1.3076
Aussie 0.7231
India Rupee 71.665
South Korea Won 1121.19
Brazil Real 3.6592
Egypt Pound 17.6665
South Africa Rand 13.372

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Strength of #USD! #DXY is on the verge of a strong rally in wave 3. @HenrikZeberg 95.71 [100.00 105.00 110.00]
World Currencies

I have called for a pause in #DXY (same in #EURUSD) but it is coming
to an end. The pullback has been pathetic - which speaks in favor of a
very strong rally ahead

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EURUSD My target for a long time has been 0.91. I stick to that as a min. target. @HenrikZeberg 1.1443 [1.1200 1.0600 1.0000]
World Currencies

Pot. we will see the pair drop as low as 0.83. Driver will be strong
USD and problems in EU. Europe is a mess! I fear for the political and
societal fall-outs in Europe #HZupdates

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Baltic Dry Index fell to its lowest level in nearly two years, down almost 40% in the space of a month @business

Commodities love a tragedy.

Last week’s burst of a tailings dam at a Vale SA iron ore mine in
Brazil’s Minas Gerais state has left close to a hundred, and possibly
approaching 400, people dead. Far from wilting at the news, iron ore
has been surging – up 12 percent in the last five days, its biggest
five-day jump in about 18 months.

That seeming cold-heartedness is only natural. Vale produces about a
quarter of the iron ore traded by sea. With the company announcing
this week that it would close 10 similar dams, a considerable slice of
the market – some 40 million metric tons – will be temporarily going
off-line just as China’s post-Lunar New Year construction cycle kicks
up a gear.

For one thing, there’s the fact that 40 million tons isn’t all that
much in the context of a seaborne iron-ore market that ships about 1.4
billion tons a year

The more important issue is what’s happening on the demand side,
though. The Baltic Dry Index is a frequently watched measure of
shipping costs, heavily influenced by the price of leasing the
Capesize bulk ships that transport coal and iron ore. On Friday it
fell to its lowest level in nearly two years, down almost 40 percent
in the space of a month.

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@edmnangagwa's pre-emptive strike @mailandguardian's @simonallison

‘It’s the worst since 2008.”

That’s how some Zimbabweans who have spoken to the Mail & Guardian
over the past two weeks have described the current crackdown. For
them, it is a replay of the post-election violence 11 years ago in
which thousands of opposition supporters were detained, tortured,
assaulted or killed.

Other Zimbabweans go even further: “It hasn’t been this bad since Gukurahundi.”

In the Gukurahundi massacres in the 1980s, state security forces
slaughtered thousands of people, largely targeting members of the
Ndebele group who were perceived to support Joshua Nkomo’s Zimbabwe
African People’s Union, the only real opposition to Robert Mugabe’s
ruling Zimbabwe African National Union. Estimates of the death toll
range from 20 000 to 36 000 people.

Some of the same men alleged to be responsible for the killings — men
like Lands Minister Perence Shiri, Vice-President Constantino
Chiwenga, and yes, even President Emmer son Mnangagwa — are still in

The crackdown began, supposedly, in response to popular protests
against the imposition of a fuel tax. But the sheer scale of the
operation, in its third week now, suggests that it was planned well in
advance. It takes careful planning to conduct simultaneous military
operations in towns across the country and to organise the targeted
detentions and disappearances of community leaders, activists,
unionists and opposition party members.

This combination of terror and purge has crippled popular resistance
to the government — for now, at least.

From Mnangagwa’s perspective, the timing of the crackdown is no
accident. Zimbabwe has been staggering through a slow-motion economic
crisis for the past year, and now the government is broke. This is
likely to be compounded by shortfalls in agricultural production,
which are projected to leave at least 2.4-million people in need of
emergency food aid within the next few months, according to the UN’s
Food and Agriculture Organisation.

Mnangagwa’s government simply does not have the foreign exchange
reserves to purchase that food aid. Tobacco sales, expected to begin
sometime between mid-February and mid-March, may also be negatively
impacted by the poor climatic conditions, putting the exchequer under
even more pressure.

How will the government pay its civil servants, who are threatening to
go on strike? How will the government pay its soldiers? How will it
feed its people? For any would-be autocrat, this last question is
always the most crucial: the link between hunger and revolution is as
old as civilisation itself.

The crackdown is the Mnangagwa regime’s attempt to pre-empt any
potential revolution.

As terrifying as Mnangagwa’s police and soldiers may be, it is clear
that Mnangagwa and his allies are just as terrified — and that they
will spare no violence in their efforts to protect themselves.

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How Washington Got on Board With Congo's Rigged Election @ForeignPolicy

When the results of the presidential election in the Democratic
Republic of the Congo were announced last month in favor of the
candidate Felix Tshisekedi, officials from government agencies across
Washington worked together to craft a U.S. response. Independent
groups in Congo had detected widespread fraud in the vote, so U.S.
officials agreed to condemn the process as rigged and vowed to hold
those involved responsible.

But the statement that came out of the U.S. State Department on Jan.
23 caught some of the policymakers who worked on the region by
surprise. Instead of condemning the election as “deeply flawed and
troubling,” following the language of the original draft, the United
States endorsed the results—with minor caveats—and offered praise for
the election.

By doing so, the Trump administration went further than any of its
Western counterparts or international organizations in embracing
Tshisekedi, who many in Congo believe cut a corrupt deal with outgoing
President Joseph Kabila to gain power.

The changes in the wording were dictated by a small group of
diplomats, sources told Foreign Policy. They made some senior
decision-makers in Washington “livid,” according to one senior U.S.
official. To them, the new statement undercut the legitimacy of the
United States in one of Africa’s largest and most influential
countries just as it was undertaking its first peaceful transition of
power in six decades.

The story of how the United States came to offer a full-throated
endorsement of Congo’s election is being told here for the first time,
based on interviews with nearly a dozen current and former U.S.
officials and experts briefed on the internal deliberations. It sheds
light on the chaotic policymaking process that has become emblematic
of the Trump administration.

“Everyone knew the elections were crap, but … they thought they had to
accept [Tshisekedi], [that] they had no other recourse here,” one
former U.S. official briefed on the internal deliberations said.

“The U.S. did a lot to get Congo where it got in terms of elections,
but then the U.S. at the last minute washed its hands of it,” said
Mvemba Phezo Dizolele, a Congolese professor and nonresident senior
associate at the Center for Strategic and International Studies. “We
are in a very bad situation, where we have ended up with the old
illegitimate guard still in place, and Tshisekedi does not have the
legitimacy to bring change.”

“I think it was a cynical approach, based on low expectations, and you
cannot have peace in Congo by pushing low expectations,” Dizolele

“There were so many red flags throughout the process. From the
pre-electoral period to the actual elections to the vote count, there
was almost nothing that was credible and transparent about them,” said
Sasha Lezhnev, an expert on Central Africa at the Enough Project, a
Washington-based nonprofit. “The numbers from the official results
seemed to come out of thin air.”

“What Kabila did is really a master play,” Bauma said, adding that
Kabila’s strategy would be “a lesson to many dictators to find a very
interesting way to rig elections and make it acceptable.”

But none of this language made it into the final statement. Instead,
Washington welcomed the results and declared itself committed to
working with Tshisekedi. The revised statement made only passing
mention to “electoral irregularities.”

Michael Hammer, the U.S. ambassador to Congo, along with Michael
McKinley, a senior career diplomat advising Secretary of State Mike
Pompeo, pushed for the revised statement, according to three U.S.
officials. The department’s third-ranking official, David Hale,
ultimately signed off on it, the officials said.

The State Department’s statement accepting Congo’s election came out
on the same day that Trump announced the United States would back an
opposition figure in Venezuela as the country’s interim president.
Many experts noted the irony of the contrast.

“It’s blatant hypocrisy,” said a U.S. official briefed on the internal

“I think the most startling thing is how quickly we have shifted from
a discussion about the integrity of the electoral process to sweeping
all these very serious and credible allegations of electoral fraud
under the carpet,” said Jason Stearns of the Congo Research Group.

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Alizea smit sits on a plastic crate in front of her fruit and vegetable stand in Wynberg, Cape Town. There is brisk custom for her oranges and avocados. And her heroin dealer is on the corner, just a few metres away @TheEconomist

Alizea smit sits on a plastic crate in front of her fruit and
vegetable stand in Wynberg, Cape Town. It is a convenient spot. There
is brisk custom for her oranges and avocados. And her heroin dealer is
on the corner, just a few metres away. Ms Smit (not her real name) has
used the drug for six years, buying three or four pellets a day at 30
rand ($2.21) each. If she does not sell enough fresh produce to feed
her habit, she works as a prostitute in the evening. “Heroin is the
worst,” she says. “It’s the first drug I’ve taken that you can’t

Until recently heroin addicts were rare in Africa. In the 1980s and
1990s users could be found largely in tourist spots, such as Zanzibar,
or in enclaves of white hipsterdom in cities like Johannesburg. Since
2006, however, heroin consumption has increased faster in Africa than
in any other continent, according to the un Office on Drugs and Crime
(unodc). The trade in the drug is having ruinous effects, not just on
public health, but on politics, too.

Not only is there more heroin being produced, but a rising share of
the crop is being trafficked via Africa. The so-called Balkan route,
encompassing Iran, Turkey and south-east Europe, has been the main way
of getting heroin to the West. But over the past decade moving drugs
along it has become harder, a side-effect of Turkey tightening its
borders in response to the war in Syria and European countries’
attempts to keep out refugees. As a result, more of the harvests are
being dispatched along the “southern route” (see map).

On this route, sometimes called the “smack track”, heroin is taken
from Afghanistan to Pakistan’s Makran coast, where shipments are put
on dhows, traditional Arabian boats with triangular sails. (Some
heroin is also smuggled via containers in larger ships.) Throughout
the year, save for the monsoon season, dhows sail south-west through
the Indian Ocean before anchoring off Somalia, Kenya, Tanzania and
Mozambique. Smaller boats collect the contraband, taking it to beaches
and coves, or to commercial harbours. From there heroin is taken by
land to South Africa and shipped or flown to Europe or America,
according to a report by Simone Haysom, Peter Gastrow and Mark Shaw of
the Global Initiative against Transnational Organised Crime. Although
it is longer than the Balkan route, the high margins on drug-smuggling
more than compensate.

The corrosive effect that the heroin trade is having on politics is
most evident in Mozambique. Though data are hard to verify, heroin may
be Mozambique’s largest or second-largest export (after coal), reckons
Joseph Hanlon of the London School of Economics.

In Mozambique trafficking is controlled by powerful families and
covertly regulated by Frelimo, the ex-Marxist ruling party. In a hotel
in Nampula, in the north of the country, an employee of a drug kingpin
explains the deal between smugglers and the state. In exchange for
political donations and personal kickbacks, Frelimo grants traffickers
protection from arrest. The party also issues permits allowing
smugglers to import and export goods without detection at the port of
Nacala. In one alleged case, a trafficker imported hundreds of
motorbikes using the Frelimo imprimatur, all of which had heroin
packed into their petrol tanks.

Ms Smit’s pusher, a 35-year-old Tanzanian migrant by the name of Juma,
describes how his patch works. New users are offered “starter packs”
and repeat users are rewarded for loyalty: a free pellet worth R30 for
every five they buy. He pays R500 for a “booster pack”, from which he
nets a R250 profit, after paying gangs a “tax” for protection. Though
dealing is risky, Juma says it is better than his life in Zanzibar,
where he was paid the equivalent of $2 a day for repairing telephone
poles. That was not enough to support his wife and two children, so he
emigrated to South Africa. “Shit, it’s a tough life, boss,” he sighs.

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The Rosewood Trade: An Illicit Trail from Forest to Furniture via @YaleE360

Fampotakely, a sandy village in northeast Madagascar, at first seems
an unlikely destination for migrants. It has no hospital, no secondary
school, no electricity, and limited well water. Yet its population has
exploded to 5,000 in recent years. A few of the houses, usually made
from dried palm leaves and stalks, now have concrete foundations and
solar panels. Fampotakely’s relative wealth is due to its strategic
location in the illegal timber trade: it’s downriver from Masoala
National Park, home to some of the world’s most valuable rosewood.

For the last decade, men from all over the region have gone into the
park’s dense forests to work as loggers, a job that pays well by local
standards. They cut down the massive trees, carve grooves in the logs,
and use climbing vines to drag them to the nearest waterway. With
rafts made from other felled trees, they use bamboo poles to float the
precious hardwood toward Fampotakely and other villages along the
Indian Ocean coastline.

. In Fampotakely, they bury much of the wood in the sand. Indeed, one
cannot walk far in the village without seeing the rounded tops of
rosewood logs emerging from the ground like little submarines. And
there’s even more rosewood underwater: The inlets and estuaries around
Fampotakely are blood red from all the rosewood being stored in them.
Underwater storage is in fact preferable, as it prevents rot.

Almost all of the rosewood is headed to China, where its lustrous red
interior is used in traditional hongmu furniture, and a single bed
made from Madagascar rosewood can cost $1 million. Rosewood is the
most trafficked form of flora or fauna in the world, measured by value
or volume, according to the United Nations Office on Drugs and Crime.
It’s traded far more than elephant ivory, rhino horn, and pangolin
scales put together, and is often called the “ivory of the forest.”
Conservationists are so concerned about the fate of rosewood in part
because it takes many decades to grow to a commercially viable size
and centuries to reach full maturity.

The trade has boomed in the last two decades. From 2009 to 2014, it
increased 14-fold, according to Chinese customs data collected by the
Environmental Investigation Agency. Few tropical forests have been
safe from the plunder. In West Africa, the demand has created logging
frenzies, with exports of lower-quality “kosso” rosewood increasing
1,000-fold over roughly the same period, according to the customs

“African rosewood is now by far and away the single largest traded
CITES-listed species in the world… It could be as much as 40 percent,”
said Sam Lawson, founder of Earthsight, a London-based nonprofit that
investigates environmental crime, referring to the treaty barring
trade in endangered species. “The thing that really amazes me is the
value… It’s almost like cocaine.”

Rosewood logging causes problems that go well beyond the removal of
rare tree species. In West Africa, it can dry out forests and leave
them vulnerable to fires and desertification. In Madagascar, which has
“more genetic information per surface unit” than any other country in
the world, tall rosewood trees serve as key nesting areas for endemic
animals such as ruffed lemurs. Logging has “devastating consequences”
on the ruffed lemur population, according to a 2018 study in the
American Journal of Primatology.

In many source countries, the most valuable rosewood has already been
cut, and Madagascar is no exception. The surge of logging over the
last decade has left relatively few large-diameter trees in the
forest. The timber barons did a poor job managing the forests,
according to Rick Hearne, a U.S.-based timber dealer who, working as a
government consultant, inspected some of Madagascar’s stockpiled wood
last year. “It was a massacre,” he said of the post-2009 rosewood
logging frenzy, which was precipitated by a coup d’état. “You can see
the greed. Some of the [stockpiled] logs were only four to five inches
in diameter.”

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28-JAN-2019 :: US interest curve shift lower and this in turn has boosted Frontier and SSA Sovereign debt prices
Kenyan Economy

Over the last few months, there has been a significant reduction in US
rate expectations. Expectations around growth have tilted lower. This
downshifting has seen the US interest curve shift significantly lower
and this in turn has boosted Frontier and SSA Sovereign debt prices
and lowered yields. For example, Kenya’s 30 Year Eurobond denominated
in Dollars was close to 10% and has rallied about 100 basis points off
those levels. Therefore, from a tactical perspective it was good to
see the Treasury move with despatch to seize the opportunity. We
learnt last week that Kenya is seeking proposals for issuance of
$2.5bn Eurobond - source ‘’They want to assess whether it would be
cheaper to borrow in euros or do- llars’’ the source told Reuters.
Kenya also announced that it had picked Standard Bank and TDB for $1
Billion of Syndicated Loans. Thats a $3.5b call right there. Now its
obvious we are fully loaded and this is a pheno- mena that’s not
unique to us. How we now deal with the balance sheet is key. However,
a $3.5b call now is tactically the right call, it kicks the can down
the road.

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.@SafaricomPLC at an 18 week high
Kenyan Economy

Closing Price: 25.50 Market Cap $10.155b EPS:1.38 PE: 18.478 HY EPS 0.79 +20.2%

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@OfficialEABL share price data and Earnings here
Kenyan Economy

Market Capitalization: $1.656b EPS: 7.19 PE: 29.312 HY PAT 6.609b +33.461%

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"In @UnileverEA, 45% of our home care business is in small sachets. The challenge is to create small packs and make a profit out of it. @ekidipat #Mindspeak @RichEconomics
Kenyan Economy

We have to find balance of price and distribution. The pay-as-you-go
economy is part of the “kidogo” economy.” @ekidipat #Mindspeak

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"Technology is transformative to individuals in rural areas. We have seen the impact to households. Children study 60-90 minutes extra" #Mindspeak with Simon Bransfield-Garth
Kenyan Economy

“Technology is transformative to individuals in rural areas. We have
seen the impact to households. Children study 60-90 minutes extra.
People see new things on television and change how they do things.”
#Mindspeak with Simon Bransfield-Garth

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N.S.E Today

International Markets which swooned in December rebounded strongly
through January.
Nearly all Asset prices closed January higher whereas in 2018 only 7%
of asset prices tracked by Deutsche Bank rose.
The Fed Chairman Jerome Powell did an about turn after being brow
beaten by Trump practically daily and soothed markets boosting EM,
Frontier and SSA markets.
This in turn has boosted GOK Eurobond prices about 150 basis points at
the long End and why Chatter around a Eurobond issuance has spiked.
The Kenya Shilling rose to a 6 month high of 100.15.  The Key levers
with regard to the shilling are the price of fuel [its low but the GOK
is snaffling up the cream via taxes]  and inward Remittances which ran
at 3x FDI in 2018.
The Nairobi Securities Exchange which experienced an annus horribilis
in 2018, has sprinted out of the gates in 2019.
The Nairobi All Share opened this morning + an eye popping 10.03% as
Big Cap Stocks and Banking Stocks hard charged higher.
The parabolic January move is flattening out now.
Trading clocked 602.136m.

N.S.E Equities - Commercial & Services

Safaricom PLC rallied +1.96% to close at a 20 month high of 26.00 and
traded 10.61m shares worth 276.240m. Safaricom has surged +18.18% in
2019 which is a mouth-watering price appreciation. It was oversold,
however. Safaricom has also regained the 1 trillion shilling market
cap mark for the first time since September last year.
Safaricom accelerated HY Earnings Per Share +20.2% and I am sure will
announce an M-PESA extension, in reasonably short order.

N.S.E Equities - Finance & Investment

The Banking Sector has rebounded strongly in 2019 with NIC Bank
+21.4% [CBA merger refers] Equity Bank is +17.4% Coop Bank +12.6% KCB
Group +8.7% and Barclays Kenya +5.5% through this morning.
KCB firmed +0.366% to close at 41.05 and traded 3.927m shares worth 161.307m.
Equity Group firmed +0.366% to close at 41.05 and traded 2.501m shares
worth 102.764m.
Diamond Trust Bank rallied +1.36% to close at 149.50 and traded 166,100 shares.

N.S.E Equities - Industrial & Allied

has led the @NSE_PLC charge in 2019 rallying a monster +21.9%
since the start of the year. EABL's price spiked further after the
release of Half Year Earnings which were seen as broadly constructive
and in some cases even muscular. EABL reported a +33.461% acceleration
in HY Profit after Tax. EABL firmed +0.118% to close at 211.00.

improved +0.29% to close at 6.80 and traded 45,900 shares.
Shares below 7.00 are in fact not available.

by Aly Khan Satchu (www.rich.co.ke)
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February 2019

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