| |
Morning Africa |
Register and its all Free.
If you are tracking the NSE Do it via RICHLIVE and use Mozilla Firefox
as your Browser.
0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.
The Latest Daily PodCast can be found here on the Front Page of the site
http://www.rich.co.ke
Macro Thoughts
Home Thoughts |
| read more |
|
"Wow! What a Ride!" Africa |
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!”
|
| read more |
|
South Korea and Russia face off in the skies @TheEconomist Law & Politics |
The details are disputed. South Korea said that Russian and Chinese
planes had penetrated its self-declared Korean Air Defence
Identification Zone (kadiz), an area around its borders where it
requires foreign planes to notify it of entry. A Russian spy plane
then twice intruded into South Korean airspace, prompting the air
force to scramble jets. Russia denied the incursion, and that shots
had been fired. But it accused South Korea of “hooliganism in the air”
for harassing its aircraft. The next day South Korea reported that
Russia had changed tack, expressing “deep regret” and blaming the
incident on a technical glitch.
Russia soon denied having issued any apology. But whatever the origin
of the confrontation, it highlights three reasons for America to worry
about north-east Asia. The first is growing military co-operation
between China and Russia, which appear to have been conducting a joint
patrol around South Korea. A second is the patchwork of unsettled
territorial disputes. The alleged incursion took place over the waters
around islands known as Dokdo by South Korea, which controls them, and
Takeshima by Japan, which also claims them. Japan also scrambled jets
and has protested to both Russia (for violating its airspace) and
South Korea (for firing in it). To the south, Japan and China contest
the Senkaku or Diaoyu islands. The disputes werefurther complicated
when China in 2013 announced its own adiz, over these islands. South
Korea then expanded the kadiz. the three countries’ zones overlap.
The third worry is of an accident or misunderstanding. For two
countries that have long been at peace, Japan and South Korea keep
their fighter pilots busy. In the 12 months that ended this March
Japan scrambled its jets 999 times in response to aerial
incursions—two-thirds of them by China over the Senkakus, the rest by
Russia over yet more disputed islands to the north of Japan. South
Korean pilots, too, frequently respond to Chinese forays into the
kadiz. With so much muscle-flexing in the skies, it is easy to imagine
a disastrous miscalculation—especially if, as this week, shots are
fired.
America must hope the incident will remind South Korea and Japan that
the security threat to each comes not from the other but from North
Korea and an assertive China, further encouraged by its ever closer
ties with Russia; and that in response South Korea and Japan should be
shoulder to shoulder, not eyeball to eyeball. ■
Conclusions
Russia and China are signalling a more offensive posture. Pax Americana?
|
| read more |
|
The official programme for the Independence Day celebrations began with a Te Deum at the Cathedral of Notre-Dame-du-Congo. Africa |
The official programme for the Independence Day celebrations began
with a Te Deum at the Cathedral of Notre-Dame-du-Congo. The service
began at 9:00 am, after which delegates returned to the Palais de la
Nation which had been the residency of the Belgian Governor-General of
the Congo.[11] Some leading Congolese musicians, notably Joseph
Kabaselleh and his band, Le Grand Kallé et l'African Jazz, performed
specially-written songs commemorating independence there until 11:00
am. These included Indépendance Cha Cha, one of Kabaselleh's
best-known works.[11] After this, the official speeches—the main
component of the day's festivities—began. In the audience were
dignitaries from both Belgium and the Congo as well as the
international press.
King Baudouin, representing Belgium, gave the first speech in which he
praised the "genius" of his ancestor, King Leopold II, who began the
colonisation of the Congo on his own initiative in the 1880s. Baudouin
depicted the end of colonial rule in the Congo as the culmination of
the Belgian "civilising mission" and spoke of the close relations he
hoped would be maintained between the two countries.[12] The thousands
of Congolese listening via loudspeakers outside the Palais were
infuriated.[13] Following the end of the King's speech, Kasa-Vubu gave
a short and uncontroversial address thanking the King for his
attendance and for his best wishes. Both speeches were applauded
vigorously.[14] In a change to the schedule, Joseph Kasongo, the
President of the Chamber of Deputies who was presiding over the
ceremonies, invited Lumumba to give an address as Lumumba had
requested him to do so.[15] The invitation came as a surprise to the
audience, who had not expected Lumumba to take any part in the
ceremony.[15][16]
Kasongo and Thomas Kanza, a member of Lumumba's government, had been
requested to visit Lumumba at his private house on the morning of 30
June before the start of the ceremonies to look over an early draft of
Lumumba's planned speech. Also present were two secretaries of state
and two Belgians.[17] (One of the latter may have been the pacifist
Jean Van Lierde.[18][c]) Lumumba asked Kanza, "Will you work out here
with these others here to tidy up the text, and make it acceptable – a
bit less explosive?"[19]
Less than an hour before the independence ceremony a Belgian officer
arrived to request that Lumumba depart for Parliament. Kasongo was
disturbed by what Lumumba planned to say and told Kanza as he left,
"I'm counting on you to do your best to tone down that speech." As
Lumumba dressed, Kanza and one of the secretaries, André Mandi, read
through as much of the speech as they could, replacing some individual
words with less inflammatory language and crossing out several full
paragraphs deemed too difficult to temper. Lumumba then left in a
motorcade for his official residence to rendezvous with the rest of
his government. Kanza and Mandi followed in the second car, making
additional revisions to the speech. These were so extensive that both
feared Lumumba would be unable to clearly read his remarks. Upon their
arrival at the residence, Kanza and Mandi briefly explained their
alterations to Lumumba. Greatly pleased with the result, Lumumba
stated that he would read some parts of the speech verbatim, then
improvise to respond to the atmosphere in the room as he saw
fit.[20][21] He made his own alterations to the script during the
speeches given by Baudouin and Kasa-Vubu.[15][22]
"Although this independence of the Congo is being proclaimed today by
agreement with Belgium, an amicable country, with which we are on
equal terms, no Congolese will ever forget that independence was won
in struggle, a persevering and inspired struggle carried on from day
to day, a struggle, in which we were undaunted by privation or
suffering and stinted neither strength nor blood." Extract from the
speech[1]
|
| read more |
|
EABL FY EPS +56.189% Earnings here Kenyan Economy |
Par Value: 2/-
Closing Price: 200.50
Total Shares Issued: 790774356.00
Market Capitalization: 158,550,258,378
EPS: 11.23
PE: 17.853
EABL FY 2019 results through 30th June 2019 vs. 30th June 2018
FY Revenue 82.543b vs. 73.457b +12.369%
FY Cost of sales [44.426b] vs. [41.052b] +8.219%
FY Gross profit 38.117b vs. 32.405b +17.627%
FY Total costs [20.302b] vs. [20.663b] -1.747%
FY PBT 17.815b vs. 11.742b +51.720%
FY Income tax expense [6.300b] vs. [4.486b] +40.437%
FY PAT 11.515b vs. 7.256b +58.696%
Basic EPS 11.23 vs. 7.19 +56.189%
Cash and cash equivalents at the end of year 12.469b vs. 3.187b +291.246%
Total dividend per share 8.50 vs. 7.50 +13.333%
The Board of Directors of East African Breweries Limited is pleased to
announce its full year results for the year ended 30th June 2019.
EABL’s net revenue for the period rose by 12% to Kshs 82.5 billion
driven by strong underlying performance on the back of a stable
operating environment in the region. Profit before tax grew to Kshs
17.8 billion attributable to increased revenues and continued cost
efficiencies across the organization.
Key Highlights:
• Group’s volumes grew by 11% driven by strong performance across all
categories and markets.
• Innovations contributed Kshs 20.3 billion to stand at 24% of the net
revenues across our markets mainly driven by brands such as Serengeti
Lite, Tusker Cider, Chrome Vodka, Captain Morgan Gold and Uganda
Waragi Pineapple.
• Gross profit improved by 18% and profit after tax grew to Kshs 11.5
billion driven by strong underlying performance, positive mix and cost
efficiencies driven through the productivity initiatives.
• Group’s capital expenditure stood at Kshs 11.7 billion with
completion of the new Kisumu brewery, in line with supporting the
company’s future growth.
Overall, EABL delivered a strong and consistent set of results in the
year across all categories. We continue a solid sustainable trajectory
towards our ambition supported by continued investment behind our
brands and capital expenditure.
Dividend
The Board of Directors has recommended a final dividend of Kshs 6.0
per share. Total dividend for the year is Kshs 8.5 per share.
Conclusions
a muscular rebound plain and simple. Headline Revenue Growth +12.369%
sums it up in a nutshell.
|
| read more |
|
A killing joke It has widened the political rift, but not yet led to a rupture @Africa_Conf Kenyan Economy |
A fake letter detailing an assassination plot against the Deputy
President has widened the fault lines within the ruling elite The
political drama sparked by a fake letter to President Uhuru Kenyatta
claiming that several cabinet ministers from his Mount Kenya homeland
had been plotting to kill Deputy President William Ruto provides yet
more evidence of the fragility and fractiousness of his government. It
has widened the political rift, but not yet led to a rupture, between
Ruto's Kalenjin following in the Rift Valley and their erstwhile
Kikuyu allies, some of whose leaders prefer a new alliance with
one-time opposition leader Raila Odinga and his Orange Democratic
Movement.
|
| read more |
|
Njoroge attributed the shilling's weakness this week to excess liquidity in the money markets @ReutersAfrica Kenyan Economy |
Njoroge attributed the shilling’s weakness this week to excess
liquidity in the money markets, which makes it cheaper to fund dollar
purchases, and increased hard currency demand from private companies.
“Some of the actors, those companies needed to make external payments,
meaning for instance you could think of a loan that has exhausted its
grace period,” he said.
Seasonal demand for dollars from companies to pay dividends to their
overseas shareholders had also contributed to the pressure on the
shilling, Njoroge said.
The shilling pared some of its losses in the afternoon session and
after Njoroge’s remarks, to trade at 103.60/80 per dollar.
“It is just a market correction. It is a return to sanity,” said a
currency trader at a commercial bank.
|
| read more |
|
|
|
|
