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Satchu's Rich Wrap-Up
Monday 07th of December 2020

19-OCT-2020 :: Now Is The Winter Of Our Discontent
World Of Finance

And brings me back to how the World is circular and

Ecclesiastes 1:2-11 2 Vanity[a] of vanities, says the Preacher

Vanity[a] of vanities, says the Preacher,

vanity of vanities! All is vanity.

A generation goes, and a generation comes,

but the earth remains forever.

The sun rises, and the sun goes down,

and hastens[b] to the place where it rises.

What has been is what will be,

and what has been done is what will be done, and there is nothing new under the sun.

Is there a thing of which it is said,

“See, this is new”?

It has been already

in the ages before us.

There is no remembrance of former things, nor will there be any remembrance

of later things[d] yet to be

among those who come after.

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06-JAN-2020 :: The Assassination (The Escalation of 'Shadow War')
Law & Politics

“This is an aggressive show of force and an outright provocation that could trigger another Middle East war.”

At the beginning of From Russia With Love (the movie not the book), Kronsteenn is summoned to Blofeld’s lair to discuss the plot to steal the super-secret ‘Lektor Decoder’ and kill Bond. 

Kronsteen outlines to Blofeld his play Blofeld [read Trump]: Kronsteen, you are sure this plan is foolproof? 

Kronsteen [read Pompeo]: Yes it is because I have anticipated every possible variation of counter-move.

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We saw that the pandemic escalated in Latin America during their winter (of the Southern Hemisphere). @fibke

Makes me think that the bad autumn of the Northern Hemisphere may be nothing compared to what is still to come. 

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"So that means the person who was vaccinated can still share the virus and can still infect anybody in the community," said Munir. @dwnews

"What we have seen so far with most of the front runner vaccines, including Pfizer, BioNTech and AstraZeneca, is that they can protect somebody from getting a severe form of the infection, but they don't protect anybody shedding the infection," Mohammad Munir, a virl infection expert at Lancaster University, told DW. 

"So that means the person who was vaccinated can still share the virus and can still infect anybody in the community," said Munir. 

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No-one has ever produced a safe and effective vaccine against a coronavirus. Birger Sørensen, Angus Dalgleish & Andres Susrud

What if, as I fear, there will never be a vaccine. I was involved in the early stages of identifying the HIV virus as the cause of Aids. 

I remember drugs companies back then saying there would be a vaccine within around 18 months. Some 37 years on, we are still waiting. Prof ANGUS DALGLEISH @MailOnline

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‘’Zoonotic’’ origin was one that was accelerated in the Laboratory.

There is also a non negligible possibility that #COVID19 was deliberately released

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.2128

Dollar Index 90.761

Japan Yen 104.11

Swiss Franc 0.89113

Pound 1.3413

Aussie 0.74281

India Rupee 73.7361

South Korea Won 1082.72

Brazil Real 5.1559

Egypt Pound 15.6672

South Africa Rand 15.2303

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Venezuela goes to the polls Real income per capita is down to levels last seen in the 1940s. @SergiLanauIIF
Emerging Markets

Venezuela goes to the polls tomorrow in the context of a total economic and humanitarian disaster. Real income per capita is down to levels last seen in the 1940s. Unfortunately, economic hardship is unlikely to be the trigger for political change in the near future.

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CoViD19-ΛFЯICΛ: Confirmed: 2 233 800 (+ 16668)Actives: 270 190 (+ 3863) @NCoVAfrica

Confirmed: 2 233 800 (+ 16668)

Actives: 270 190 (+ 3863)

Deaths: 53 218 (+ 370)

Recoveries: 1 908 811 (+ 12435)

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Turning to Africa The Spinning Top

So far Africa has dodged the Virus from a medical perspective though it remains in my view a slow burning Fuse and we all know by now ''viruses exhibit non-linear and exponential characteristics'

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"Contagion" of another kind. e.g., % who've experienced a decline in total income is highest in poorest countries, many with low case numbers. @JustinSandefur

"Contagion" of another kind. The economic crisis isn't limited to countries with high case counts. e.g., % who've experienced a decline in total income is highest in poorest countries, many with low case numbers.

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Facing War, Virus and Locusts, Ethiopia’s Once-Golden Economy Loses Its Luster @WSJ.

For the past decade Ethiopia has boasted of one of the world’s fastest-growing economies, welcoming billions of dollars in foreign direct investment from the U.S. and China and lifting more than 20 million people out of poverty.

Now, a monthlong civil war, coronavirus lockdowns and historic locust infestations have left the once-golden economy stumbling, as it grapples with one of Africa’s most perilous debt loads, soaring inflation and the risk of a protracted insurgency.

Fighting between government forces and the rebel Tigray People’s Liberation Front has paralyzed much of northern Ethiopia, shaking a nation of 110 million people long seen as a symbol of stability in a volatile region.

Prime Minister Abiy Ahmed has claimed victory after taking the rebel stronghold of Mekelle, but TPLF fighters have retreated into remote mountainous regions and vow to continue fighting.

Roads, bridges, a power plant and a sugar mill have been destroyed. 

The Ethiopian currency has sunk 20% against the dollar this year, suppressing purchasing power across a nation where millions of people are already dependent on food aid.

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@PMEthiopia has launched an unwinnable War on Tigray Province.

Ethiopia which was once the Poster child of the African Renaissance now has a Nobel Prize Winner whom I am reliably informed

PM Abiy His inner war cabinet includes Evangelicals who are counseling him he is "doing Christ's work"; that his faith is being "tested". @RAbdiAnalyst

@PMEthiopia has launched an unwinnable War on Tigray Province.

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‘They come with teargas, we come with God’ On the road with @HEBobiwine @mailandguardian @thecontinent_ @ntvuganda

“[Wine] has been in the ghetto,” says one. “He knows the life of the person below.”

And when Wine sets off, waving from his sunroof, it is the “people below”, the abantu bawansi, who line the roads to greet him. 

They holler from shopfronts and run through banana gardens.

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DR Congo President Tshisekedi announces he is quitting 'Kabila coalition' @FRANCE24
Law & Politics

DR Congo President Felix Tshisekedi on Sunday said he planned to form a new coalition government and warned he might be forced to dissolve parliament and hold fresh elections if he was unable to do so.

The announcement came after the failure of a coalition with supporters of predecessor Joseph Kabila who currently wield a majority in parliament.

Tshisekedi took over from Kabila in January 2019, in the Democratic Republic of Congo's first peaceful transition since independence from Belgium in 1960.

But the president's room for implementing much-trumpeted reforms was hampered by the need to forge a coalition with the pro-Kabila Common Front for the Congo (FCC).

On Sunday, he said on state-owned RTNC television that he had decided to name an official known as an "informer" who would be "charged with identifying a new coalition that included an absolute majority of National Assembly members".

The procedure is laid out in the nation's constitution.

Failing that, "I will use constitutional prerogatives I possess to come back to you, a sovereign people, and ask for a majority", something that would involve anticipated general elections.

Tshisekedi said he had spent a month consulting with political parties and prominent figures and that an overwhelming majority rejected a coalition that included the FCC and his own Cap for Change (Cach) party.

"I noted that we need to put an end to the Cach-FCC coalition, which is seen as the main reason for the current blockage," the president said.

Last week, the FCC said it still held more than 300 seats in the 500-seat parliament and accused Tshisekedi supporters of trying to bribe deputies to switch parties.

Kabila ruled the DRC for 18 years until he stepped down after long-delayed elections in December 2018.

He retains considerable clout through political allies and officers he appointed to the armed forces, and is also a senator for life.

In the runup to Sunday's announcement, Tshisekedi conferred at length with senior members of the armed forces and police to ensure he had their support.

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7 JAN 19 :: “It’s not the people who vote that count, it’s the people who count the votes,” said Joseph Stalin.

V.S. Naipaul, in A Bend in the River wrote “It isn’t that there’s no right and wrong here. There’s no right.”

‘’Early results indicate a win for the opposition after government plans to fix the poll went awry,’’ said Africa Confidential, adding the Bishops’ Conférence Episcopale Nationale du Congo (CENCO) had organised up to 40,000 election monitors to scrutinise the conduct of the poll and conduct a parallel vote tabulation. 

CENCO did not name the winning candidate publi- cly, but declared that he had polled over half of the votes in the presidential election. 

Martin Fayulu is the unnamed winning opposition candidate, Africa Confidential’s church sources say. 

If President Kabila’s Man is at only 20%, then we are talking about single digits in reality. Therefore,

we are actually talking a compelling victory for Martin Fayulu, an open and shut case as it were.

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7 The number of African governments using Circles, an Israeli cyberespionage program, to spy on the private communications of their citizens, according to a new report by the Citizen Lab. @mailandguardian @thecontinent_

The countries are Botswana, Equatorial Guinea, Kenya, Morocco, Nigeria, Zimbabwe and Zambia. The program gives governments access to mobile phone calls, texts, and locations.

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When life hands you lemons Despite Covid-19, South African and Egyptian citrus exports are booming this year @mailandguardian @thecontinent_

In South Africa, home to the world’s second-largest citrus industry, farmers were uncertain about the impact of Covid-19 and the country’s national lockdown earlier this year. 

They were worried about supply chain difficulties, including congestion at Cape Town and Durban’s ports, uncertainty over regulations, and container shortages. 

But the South African Citrus Growers’ Association (CGA) formed a solutions response committee, developing guidelines for the labour-intensive industry’s farmhouses to work safely and working with ports authorities to reduce delays. 

“What could have been a disastrous season turned into the best one we have ever had”, says Justin Chadwick, chief executive of CGA.

South Africa exported 80-million cartons of oranges, 29.4-million cartons of lemons, 23.6-million cartons of soft citrus and 15.6-million cartons of grapefruit.

The CGA believes the spike in demand — which has seen additional United States ports of entry for citrus imports from South Africa open up, as well as the Philippines signing on after over a decade of negotiations — is in no small part due to the belief that increased citrus consumption results in a higher vitamin C intake, which will serve consumers well in their fight against the coronavirus.

Despite no tangible proof that vitamin C – while essential to the human body’s functionality – is an immunity booster, it hasn’t stopped a global scramble for grapefruit, oranges and lemons.

It has also been a bumper year for Egyptian oranges. Egypt became the world’s largest exporter of oranges by volume for the second consecutive year – surpassing South Africa and Spain – exporting 1.8-million metric tonnes of oranges. 

Egyptian citrus is grown mainly on sophisticated farms featuring hydroponic greenhouses operating on reclaimed desert land. 

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"The Franco-Egyptian-Emirati Entente: Merging trans-Mediterranean agendas" @michaeltanchum

"Defining the main regional cleavage, the Franco-Egyptian partnership also serves as a platform for the UAE in its systemic competition with Turkey and Qatar."  

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Zimbabwe opened its side of the Beitbridge Border Post to general travellers on Tuesday, just in time for the anticipated Christmas rush. @mailandguardian @thecontinent_

“I think the requirement for people to get tested first – the cost ranges from $25 to $60 – is discouraging people from using the border. Some are resorting to border jumping which is dangerous, especially now when it’s the rainy season. There is a video that circulated over the weekend in Beitbridge showing a man who was killed by a crocodile while crossing the Limpopo River,” he said.

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Cabinet secretary for National treasury, Amb. Ukur Yatani, indicated that the tax incentives effected in April 2020 were to revert back to pre-COVID rates effective January 1st 2021. @CytonnInvest
Kenyan Economy

The incentives had been issued under the economic stimulus package as a way to mitigate the effects of COVID-19 on individual and businesses incomes. 

However, the government will continue to cushion the low income earners by retaining the 100% relief to those earning a monthly income of Kshs 24,000 and below. The rates affected include:

Corporate Tax rate which will revert to 30.0% from 25.0%,

Individual Income Tax rate which will revert to 30.0% from the current 25.0%, and,

Value-added Tax Rate which will revert to 16.0% from the current 14.0%.

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by Aly Khan Satchu (www.rich.co.ke)
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December 2020

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