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Satchu's Rich Wrap-Up
 
 
Thursday 21st of April 2022
 
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Africa

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Fed has two options: @IliaSakowski
World Of Finance

1) soft landing: let inflation run, yields rally and gold replaces treasuries as world reserve asset (good for RU, CN, IN)

2) shock and awe: crash housing and FX market with QT and reset system (IMF's "new Bretton Woods moment")

Nobody said it was easy...

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Its a Wizard of Oz moment
World Of Finance


we have reached the point when the curtain was lifted in the Wizard of Oz and the Wizard revealed to be ‘’an ordinary conman from Omaha who has been using elaborate magic tricks and props to make himself seem “great and powerful”’’ 

The Curtain has been lifted and Mr. Powell has now arrived at his Volcker moment 

Deutsche Bank's Jim Reid notes that yesterday's surge in the 2-year US Treasury yield was, by one measure, "the biggest "shock" since October 1979 when Volcker announced his intentions on the world @ReutersJamie
The last time inflation was here, February 1982 - the Fed Funds Rate was 15%. @Convertbond

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Days at War, photographs from Ukraine by Nicole Tung @nicoletung6 @Harpers
Misc.


In the six weeks following Russia’s invasion of Ukraine, Nicole Tung traveled across Ukraine and witnessed the devastating effects of the war. 

These photographs, from in and around Kyiv, Kharkiv, Trostyanets, Odesa, and Bucha, document the grief and resilience on the ground.
All photographs by Nicole Tung for Harper’s Magazine 

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.083400
Dollar Index 100.518
Japan Yen 128.3350
Swiss Franc 0.950535
Pound 1.305380
Aussie 0.743055
India Rupee 76.2311
South Korea Won 1236.695
Brazil Real 4.6221 
Egypt Pound 18.4946 
South Africa Rand 15.075985

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Can Angola’s opposition UNITA win the upcoming election? @TheAfricaReport
Africa


On 4 April, Angola celebrated the 20th anniversary of the end of its civil war. 

This 27-year long conflict will mark this country for a long time to come, not only due to the number of victims and displaced persons, but ultimately because of how much of society it destroyed.
The MPLA, which had been in power since independence, emerged as the war’s undisputed winner and strengthened its hold on the state, over which it still exerts a lot of influence today. 

UNITA, the opposing side, was reduced to silence and a rather formal opposition.
But things could change. After all, UNITA now has a new president : Adalberto da Costa Júnior (commonly known as ACJ), a mixed-race leader heading the party created by Jonas Savimbi.

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Sometimes having a high dependence on oil is a good thing. Angola's government debt plunges as a % of GDP @RencapMan
Africa

Those B3/B- sovereign credit ratings will look excessively cautious if these IMF forecasts prove correct

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11. JUN-2019 The zeitgeist of the Revolution in Khartoum was intoxicating
Africa


Hugh Masekela said ‘’I want to be there when the people start to turn it around.’’ Sudan is a Masekela pivot moment.

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Inflation in #Sudan rose to 263.2% y-o-y in March. The October coup d'état has sent the already fragile economy into free fall. @OEAfrica
Africa


Living standards are rapidly deteriorating as prices continue to soar, and 18 million people are at risk of facing food insecurity in coming months

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.@NationMediaGrp reports FY 2021 EPS surge +1150%
N.S.E Equities - Commercial & Services


Par Value:                  2.50/-
Closing Price:           20.90
Total Shares Issued:          188542286.00
Market Capitalization:        3,940,533,777
EPS:              2.5

PE:                8.36

Nation Media reports FY 2021 Earnings versus FY through 2020

FY 2021 Turnover 7.66137b versus 6.8128b +12% 

FY Gross Profit 6.4017b versus 5.6648b

FY Profit before Income Tax 730.7m versus 119.9m +509%

FY Profit after Tax 493.1m versus 47.9m

FY EPS 2.5 versus 0.2 +1150%

FY Dividend 1.5

Total cash and cash equivalents 3.9586b versus 2.8742b

Commentary 

This performance is attributable to the recovery of print advertising sales, increased revenue from digital products and services, and continued growth of broadcasting revenue. 

In addition, improved debt collection and effective cost management contributed positively to the Group’s profitability.

The Group will focus on accelerating the gains realised from its digital transformation journey

Conclusions

Admittedly lapping a very depressed 2020, this nevertheless is an impressive rebound and speaks to a possible earnings inflexion point & specifically the digital strategy which contributed 18% of PBT

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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April 2022
 
 
 
 
 
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