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Satchu's Rich Wrap-Up
Tuesday 08th of June 2021

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09-MAY-2021 :: The Lotos-eaters
World Of Finance

Then some one said, "We will return no more"; And all at once they sang, "Our island home

Is far beyond the wave; we will no longer roam."

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#Bitcoin is at a cross road... @RemiGMI
World Currencies

a) Clean breakout $41,800 and go test $58,000

b) Fail to break out and death cross at play

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08-FEB-2021 :: The Markets Are Wilding
World Of Finance

@elonmusk I am become meme, Destroyer of shorts

Mr. Musk can pump [and dump] just about anything with a tweet. he has superpowers.

And on February 4 He tested that hypothesis

No highs, no lows, only Doge @elonmusk Feb 4 

Dogecoin is the people’s crypto @elonmusk Feb 4

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Yemen’s unique ‘dragon’s blood’ island under threat @AFP

Centuries-old umbrella-shaped dragon's blood trees line the rugged peaks of Yemen's Socotra -- a flagship symbol of the Indian Ocean archipelago's extraordinary biodiversity, but also a bleak warning of environmental crisis.

Forests of these ancient trees are being decimated by increasingly intense storms, while replacement saplings are gobbled by proliferating goat herds, leaving the fragile biological hotspot vulnerable to desertification.

“The trees bring water, so they are so important,” said Adnan Ahmed, a mathematics teacher and tour guide whose passion is Socotra’s famous flora and fauna.

Without trees, we will be in trouble.”

Lying in turquoise seas between Arabia and Africa some 350 kilometres (215 miles) south of Yemen’s coast, Socotra is home to over 50,000 people and has remained relatively untouched by the bloodletting of the civil war raging on the mainland.

Naming it a World Heritage site in 2008, UNESCO described the main island as one of the world’s “most biodiversity rich and distinct”. It has also been dubbed the “Galapagos of the Indian Ocean”.

Ahmed said islanders traditionally don’t fell dragon’s blood trees for firewood, both because they perpetuate regular rainfall and because its blood-red sap is medicinal.

But scientists and islanders warn that the trees will largely die out within decades, buckling under pressure from global warming driving cyclones, as well as invasive species and overgrazing.

“Goats eat the seedlings, so young trees are only found on cliff faces in the most inaccessible places,” said Ahmed.

The trees take nearly half a century before they reproduce, he explained. “If nothing is done, it will not take long before all are gone,” he said.

“It remains a treasure trove of biodiversity,” said Van Damme, chair of the Friends of Socotra support group. “But we may soon be running out of time to protect Socotra’s most iconic flagship species.”

Each lost tree drives a reduction in the hydrological cycle on which all life depends.

Islanders say trees have been battered by storms more ferocious than anyone remembers.

At Diksam, on the high plateau surrounding the Hagher mountains, running like a spine along the 130-kilometre (80-mile) island and 1,500 metres (4,900 feet) high, dead trees lie scattered like bowling ball pins.

Other local species are just as hard hit by storms and overgrazing, including the 10 endemic species of frankincense tree.

Gales have torn through nearly a third of the trees in the Homhil forest over the past decade.

Without replanting efforts, the forest “will be gone in only a few decades”, Van Damme said.

One study found the number of frankincense trees had plummeted by 78 percent in this area between 1956 and 2017.

“The immune system of Socotra is now compromised,” he said, but added, “there is still hope.”

Landslide scars caused by vegetation loss are now a common sight.

“If the trend continues, future generations might be able to visit a Socotran frankincense tree only in a botanical garden, accompanied by a little plaque saying ‘extinct in the wild'”, Van Damme added.

The International Union for Conservation of Nature (IUCN) warns that Socotra is under “high threat”, and the “deteriorating” situation will be “accelerated by climate change”.

Islanders are already feeling the impact of changing weather patterns.

Abdullah Ahmed, from a small fishing village near Shuab, a cluster of solidly built coral-stone homes, said the 40 residents were threatened both by extreme high seas and landslides.

They have built a new village 10 minutes’ walk from the sea.

“Waves in the last storms smashed the windows of our home,” the 25-year-old said, describing how his family had sheltered terrified in caves for days.

“The last monsoon was worse than anyone had experienced.”

Adnan Ahmed peered over the chest-high stone wall of a community-run dragon’s blood tree nursery, a football-pitch sized area enclosed against goat invasions.

Inside are dozens of knee-high saplings. Resembling pineapple plants, they are the painstaking result of at least 15 years’ growth.

“It is a start, but much more is needed,” he said. “We need support.”

Sadia Eissa Suliman was born and raised at the Detwah lagoon, listed as a wetland of global importance under the Ramsar wetlands convention.

“I saw how the lagoon was changing,” said the 61-year old grandmother, who watched swathes of trees being chopped down, plastic being dumped and fishing nets trawling the water, a critical nursery for young fish.

“Everyone said someone else would do something,” she said. “But I said, ‘Enough: I will do it, and people will see the difference.'”

‘We have a chance’

But with effort, the worst impact can be slowed — and some Socotris are doing what they can to protect their island.

‘Running out of time’ –

The shrinking forests are a canary in the mine for Socotra’s environmental challenges, said Belgian biologist Kay Van Damme, from the University of Ghent.

She now helps the community enforce a fishing ban and raises funds to enclose trees and to tackle littering.

Scientists are also determined Socotra will not just become another case study of loss.

“We have a chance as humans to not mess this one up, otherwise we’ve learnt nothing from other examples of huge extinctions on islands,” Van Damme said.

“Socotra is the only island in the entire world where no reptile, plant or bird that we know of has gone extinct in the last 100 years. We have to make sure it stays that way.”

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The Yemeni archipelago of Socotra in the Indian Ocean is located some 80 kilometres off the Horn of Africa and 380 kilometres South of the Yemeni coastline.

Socotra is at the crossroads of the strategic naval waterways of the Red Sea and the Gulf of Aden 

This strategic waterway links the Mediterranean to South Asia and the Far East, through the Suez Canal, the Red Sea and the Gulf of Aden.

It is a major transit route for oil tankers. A large share of China’s industrial exports to Western Europe transits through this strategic waterway. Maritime trade from East and Southern Africa to Western Europe also transits within proximity of Socotra (Suqutra), through the Gulf of Aden and the Red Sea. 

The [Indian] Ocean is a major sea lane connecting the Middle East, East Asia and Africa with Europe and the Americas. It has four crucial access waterways facilitating international maritime trade, that is the Suez Canal in Egypt, Bab-el-Mandeb (bordering Djibouti and Yemen), Straits of Hormuz (bordering Iran and Oman), and Straits of Malacca

(bordering Indonesia and Malaysia). 

These ‘chokepoints’ are critical to world oil trade as huge amounts of oil pass through them.” (Amjed Jaaved, A new hot-spot of rivalry, Pakistan Observer, July 1, 2009)

From a military standpoint, the Socotra archipelago is at a strategic maritime crossroads. 

Morever, the archipelago extends over a relatively large maritime area at the Eastern exit of the Gulf of Aden, from the island of Abd al Kuri, to the main island of Socotra. This maritime area of international transit lies in Yemeni territorial waters. 

The US Navy’s geostrategist Rear Admiral Alfred T. Mahan had intimated, prior to First World War, that “whoever attains maritime supremacy in the Indian Ocean [will] be a prominent player on the international scene.”.(Indian Ocean and our Security).

What was at stake in Rear Admiral Mahan’s writings was the strategic control by the US of major Ocean sea ways and of the Indian Ocean in particular: “This ocean is the key to the seven seas in the twenty-first century; the destiny of the world will be decided in these waters.”

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“Oryx and Crake”

Atwood, who is the daughter of a biologist, vividly imagines a late-twenty-first-century world ravaged by innovations in biological science.

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Octavio Paz Here

My steps along this street


in another street

in which

I hear my steps

passing along this street

in which

Only the mist is real

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Octavio Paz The Street

A long and silent street.

I walk in blackness and I stumble and fall

and rise, and I walk blind,

my feet stepping on silent stones and dry leaves.

Someone behind me also stepping on stones, leaves:

If I slow down, he slows;

If I run, he runs.

I turn:


Everything dark and doorless.

Turning and turning among these corners

which lead forever to the street

where nobody waits for, nobody follows me,

where I pursue a man who stumbles

and rises and says when he sees me:


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@BorisJohnson Knows Exactly What He’s Doing How the British prime minister uses chaos to his political advantage @TheAtlantic @TomMcTague
Law & Politics

''Nothing can go wrong!” Boris Johnson said, jumping into the driver’s seat of a tram he was about to take for a test ride. “Nothing. Can. Go. Wrong.”

To many, Johnson is a clown—the embodiment of the demise of public standards and the face of international populism, post-truth politics, even British decline itself. He is the man who got stuck on a zip line during the London Olympics, dangling above the crowds in a harness and helmet, helplessly waving British flags while people cheered below. 

The French newspaper Libération used this image on its front page after Britain voted to leave the European Union, with the headline “Good Luck.”

Johnson’s sense of humor regularly gets him into trouble. In 2017, as foreign secretary, he joked about the Libyan city of Sirte having a bright future, as soon as its residents “clear the dead bodies away.” 

Announcing further COVID-19 restrictions in October 2020, he reportedly told lawmakers that at least they wouldn’t have to spend Christmas with their in-laws. 

He has likened Hillary Clinton to “a sadistic nurse in a mental hospital” and the Conservative Party’s infighting to “Papua New Guinea–style orgies of cannibalism and chief-killing.”

To his most vehement critics, he is worse than a clown: a charlatan who lied his way to the top, who endangers democracy and traffics in racism, and who believes in nothing but his own advancement. 

He has been accused of triggering a wave of populist anger that he then rode to 10 Downing Street, leaving Britain weakened and in very real danger of dissolution. (Scotland once again is considering making its own exit.) 

He is leading his country through the most radical reshaping of its economy, electoral map, and international role since World War II. 

To Johnson’s cry of faith that nothing can go wrong, critics say: No, a lot can go wrong—and very well might.

“Absolutely,” he said. “This is about the deracination of the community fan base.” Soccer clubs, he continued, had turned into global brands and were leaving their supporters behind, “taking off like a great mother ship and orbiting the planet.”

Johnson is a strange figurehead for such a movement. The prime minister is, at least nominally, a free-marketeer and the chief proselytizer of “Global Britain.” He plays to the rootedness of Middle England—to its anxieties, traditions, and national pride—but he is also a very obvious transient.

But while Johnson’s patriotic message is powerful in England—by far the largest of the U.K.’s four nations—it does not readily translate elsewhere, particularly in Scotland, which voted to remain in the EU. 

The great irony is that although Johnson led the campaign to “take back control” from Europe, his success has intensified calls in Scotland for control to be wrested from London. 

This is where Johnson’s legacy is most at risk. If he were to preside over the breakup of the country, whatever else he did would forever be overshadowed. 

He would be the Lord North of the 21st century: not the prime minister who lost America, but the one who lost Britain itself.

Talking to a TV reporter, Johnson kept referring to a previous Labour MP for Hartlepool, Blair’s close ally Peter Mandelson, as “Lord Mandelson of Guacamole.” Mandelson is reputed to have once confused mushy peas—a side dish served with fish and chips—for guacamole. 

The story isn’t true, but the populist in Johnson enjoyed it so much that he deployed the nickname three more times before leaving the stadium. 

The joke would be hypocritical but for the fact that the prime minister doesn’t try to hide his own class status: 

When David Cameron was mocked for admitting that he didn’t know the price of a loaf of bread, a reporter confronted Johnson with the same question. He got it right, but then added: “I can tell you the price of a bottle of champagne—how about that?”

Johnson, however, seems to know exactly what he’s doing. He said as much in an interview with CNBC in 2013, when he was asked whether his performative incompetence was typical in a politician. 

“No, I think it’s a very cunning device,” he said. “Self-deprecation is all about understanding that basically people regard politicians as a bunch of shysters.”

Johnson’s ability to invite underestimation seems to shield him from the usual rules of politics. “There’s a magic to Boris which allows him to escape some of the political challenges that he’s had since he became prime minister,” Frank Luntz, an American pollster who was friends with Johnson at Oxford, told me. 

“People are more patient with him, they are more forgiving of him, because he’s not a typical politician.”

Part of his electoral genius lies in his ability to stop his opponents from thinking straight: In their hatred for him, they cannot see why he is popular, nor what to do about it.

“People live by narrative,” he told me. “Human beings are creatures of the imagination.”

“The point I’m trying to get over to you and your readers is that you mustn’t mistake this government for being some sort of bunch of xenophobes,” he added, “or autarkic economic nationalists.” 

He also believes that the global zeitgeist has radically changed since the 2008 financial crisis, and therefore so too must Britain’s foreign policy. This is not an ephemeral, insubstantial thing: Voters will not accept a laissez-faire attitude toward free trade, deindustrialization, or the rise of China any longer. 

Whether voters’ demands on these issues are reasonable or constructive is beside the point—they are reality.

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The occupants of No10, like Tolstoy’s characters in War and Peace, are blown around by forces they do not comprehend as they gossip, intrigue, and babble to the media. OCTOBER 30, 2014 BY @Dominic2306 The Hollow Men II
Law & Politics

The outcome? Everybody rushes around in tailspins assembling circular firing squads while the real dynamics of opinion play out largely untouched by their conscious actions. 

In terms of a method to ‘manage’ government, it is not far from tribal elders howling incantations around the camp fire after inspecting the entrails of slaughtered animals. 

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"The number of new cases of #covid19 reported to WHO has now declined for 6 weeks, and deaths have declined for 5 weeks”, says @DrTedros at @WHO presser. @kakape

"However, we still see a mixed picture around the world.” Deaths went up in Africa, Americas and Western Pacific last week.

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09-MAY-2021 The Markets The Lotos-eaters
World Of Finance

On 8th March when the Bears had gotten hold of the US 10 Year, I wrote that I expected the 10 Year to target 1.45% well we got real close on Friday before the market reversed 

Ten- year yields initially plunged to a more than two-month low of 1.46%, then reversed to end the day at 1.58%. However, I am resetting my target Yield to 1.25% now.

Given the volume of money Printing and the extraordinary stimulusI have to say that the US Recovery is actually really weak and I believe it will be very short lived and the Penny will drop soon with the Bond Market and the Shorts will be forced to cover.

The Consensus View appears to be that the Global economy is going to accelerate big time and that its going to BOOM! 

I beg to differ

Furthermore The Central Banks are in a corner. 

They have fired a lot of bullets and even if there was a meaningful bounce they cannot raise rates.

Here is why central banks are trapped and cannot raise rates even if inflation rises: @dlacalle_IA Feb 2 

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.2178

Dollar Index 90.056

Japan Yen 109.435

Swiss Franc 0.8976

Pound 1.4149

Aussie 0.7753

India Rupee 72.826

South Korea Won 1114.06

Brazil Real 5.04685

Egypt Pound 15.6885

South Africa Rand 13.5492

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Africa is currently reporting a million new infections about every 94 days @ReutersGraphics

Namibia is at Peak

Uganda is at 99%

Eritrea is at 95%

DR Congo is at 94% 

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Uganda re-imposes lockdown to beat back COVID-19 case surge @Reuters

From January to April the positivity rate in tested samples was mostly below 3% but the rate started climbing sharply last month, hitting 18% on June 2, according to Ministry of Health data.

Those restrictions contributed to a 1.1% economic contraction in 2020, but the finance ministry had projected before Sunday's new measures that growth would climb to between 4-5% in the fiscal year starting July.

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The @NobelPrize committee should resign over the atrocities in Tigray @guardian @KjetilTronvol

The war on Tigray in Ethiopia has been going on for months. Thousands of people have been killed and wounded, women and girls have been raped by military forces, and more than 2 million citizens have been forced out of their homes. 

Prime minister and Nobel peace prize laureate Abiy Ahmed stated that a nation on its way to “prosperity” would experience a few “rough patches” that would create “blisters”. This is how he rationalised what is alleged to be a genocide.

Nobel committee members have individual responsibility for awarding the 2019 peace prize to Abiy Ahmed, accused of waging the war in Tigray. 

The members should thus collectively resign their honourable positions at the Nobel committee in protest and defiance.

The committee justified awarding the Nobel to Ethiopia’s premier for his “efforts to achieve peace and international cooperation, and in particular for his decisive initiative to resolve the border conflict with neighbouring Eritrea”. 

Today, Eritrean forces, along with Ethiopia’s federal and Amhara regional state forces are accused of war crimes and crimes against humanity in what Abiy characterises as a “law enforcement operation” in Tigray.

The war began last November, when federal soldiers entered Tigray alongside Eritrean forces, claiming the objective was to arrest the elected regional government and leaders of the Tigray People’s Liberation Front party (TPLF) for rebellion. 

The Tigray leadership withdrew from the regional capital, Mekelle, into the mountains, with thousands of combat-ready troops. 

It was clear from the outset that war was inevitable, as Tigrayans would not submit to the centralising policies of Abiy, which they believe undermine their constitutionally enshrined autonomy.

The campaign has become increasingly repugnant. The US has criticised Abiy for ethnic cleansing. 

Numerous massacres of civilians have been revealed, and rape of women and girls has been systematically carried out to “cleanse the blood line”, as soldiers have reportedly said, and break spirits

Civil infrastructure, such as hospitals, water facilities, schools and universities have been direct targets of bombings and looting, with the aim to destroy capacity to govern.

Even worse is the humanitarian consequence. Today, 5.2 million Tigrayans, about 85% of the region’s population, need aid to survive, but it is not reaching them

Food and emergency assistance from the UN and international organisations is obstructed by federal red tape and Ethiopian and Eritrean soldiers. 

Hundreds of thousands are in danger of dying from starvation this summer. 

We may soon again see images of mass death in Tigray, similar to those from the famine that took place during the Ethiopian civil war and inspired the Live Aid concert in 1985.

Human rights experts believe there is reason to declare genocide in Tigray, when analysing the political intentions behind the systematic mass murders of civilians, sexual violence and more. 

The patriarch of the Ethiopian Orthodox church has said that the government is carrying out a genocide. The final legal conclusion must however be for a future international criminal tribunal.

What then is the responsibility of the Nobel committee towards someone who uses the prize to legitimise genocidal warfare against his own people? 

Did they undertake a comprehensive risk assessment before giving the prize to an incumbent prime minister who was not democratically elected in a country that has always been an authoritarian state? 

Or is this, in hindsight, something the committee could not have foreseen?

Already, in early 2019, the reforms in Ethiopia and the peace process with Eritrea were known to have lost momentum. 

Liberal political reforms in the country were backsliding. Some also warned that the peace prize itself could destabilise rather than consolidate the region.

After the war began, I had a call from a high-ranking Ethiopian official: “I will always hold the Nobel committee responsible for destroying our country,” he said

“After Abiy received the peace prize, he viewed this as a recognition of his politics and would no longer listen to objections or the dangers of recentralised power in Ethiopia.”

There is international criticism of Abiy’s candidature and the committee’s “non-stance” on any crimes against humanity by military forces under the command of a Nobel laureate. 

But the committee has stayed silent, carrying on a century’s tradition of refusing to discuss the judging process. 

Last year, in reaction to Abiy’s decision to postpone the 2020 elections indefinitely, the Nobel committee came out in defence of the laureate, reasserting its position on the prize. 

Now, after the outbreak of war, members of the committee remain disinclined to discuss their original assessment.

Initiatives by Ethiopian diaspora organisations to hold the Nobel committee legally liable for the award’s consequences have further damaged the reputation of the Nobel prize.

On the guidelines enshrined in Nobel rules is that once a prize is awarded, it cannot be withdrawn. So how could the committee express its condemnation of the war and the politics of Abiy should it wish to? 

All members have an individual responsibility – it is not officially known whether any voted against. They should therefore acknowledge this, collectively resign, and let the Norwegian parliament appoint a new committee.

As a collective action, it would be perceived as taking responsibility for the error – and as a protest against the war.

At the same time, the Nobel Institute should upgrade its expertise, undertake comprehensive risk assessments and analyse relevant conflicts and contexts on which awards are based. 

It seems clear that procedures failed in awarding Abiy the prize.

In appointing a new committee, Norway’s political parties must drop the tradition to nominate retired politicians. 

This would provide the much-needed arm’s length between the prize and the Norwegian political elite. 

International members should be brought in, with expertise in what the prize is actually about: war and peace, international law, human rights. 

The Nobel name carries international weight and a committee with world-class capabilities should protect it.

Kjetil Tronvoll is professor of peace and conflict studies at Norway’s Bjørknes University College, Oslo

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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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It's mind blowing reading how Addis Ababa modernized after the Battle of Adwa. @elshadai_g

This was due to Emperor Menelik's fascination with technology & innovations, and an unprecedented period of peace in Ethiopia.

A thread on the many developments at the time!

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Nigeria’s ban on popular social media app Twitter is resulting in “financial losses” of up to $180,000 (N90.7million) per hour

This was confirmed in an analysis by Netblocks’ Cost of Shutdown Tool (COST), which showed that the ban had cost Nigeria over $12million (N6billion) in revenue as of 7:00 am on June 7, 2021. 

The tool pegged a single-day total internet outage cost at $99million (N48.596 billion) in economic value, adding that Nigeria will lose $20million (N10.885 billion) per day if Facebook, Instagram, WhatsApp, YouTube, and Twitter are all shut down.

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.@CrownPaintsPLC reports FY 2020 Earnings here
N.S.E Equities - Industrial & Allied

Par Value:                  5/-

Closing Price:           38.60

Total Shares Issued:          71181000.00

Market Capitalization:        2,747,586,600

EPS:                8.42



Crown Paints reports FY Earnings through 31st Dec 2020 versus 31st Dec 2019

FY Revenue 9.191704b versus 8.603652b +7%

FY Profit before Tax 862.886m versus 527.974m +63%

FY Profit after Tax 599.505m versus 323.023m

FY EPS 8.42 versus 4.54 

Cash and Cash Equivalents at end of year 303.848m versus 389.243m 

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Crown Paints [@CrownPaintsPLC] 2020 results are finally here: @MwangoCapital
N.S.E Equities - Industrial & Allied

- Revenues up 7% [2019: up 3%]

- Profit before tax up 63% [2019:  up 33%]

- Profit after tax up 85.6%

- No dividend


They are undertaking a Rights Issue

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by Aly Khan Satchu (www.rich.co.ke)
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June 2021

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