|Wednesday 15th of December 2010
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0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.
The ICC has made arrangements to broadcast the press conference on the Internet.
It can be watched at http://livestream.xs4all.nl/icc5.asx
The Latest Daily PodCast can be found here
Yesterdays Interview CNBC #Africa 14 December - #Kenya Markets - Aly
Khan Satchu - Rich Management
A #Mindspeak Aperitif RICH TV
My Presentation at @Africagathering Business Start Ups Making Ideas Happen
I start by playing the Rolling Stones' Start Me Up
Kenya Economic Update KEU Edition 3 The Tipping Point
Financial Times Kenya Special
The #Star #Wikileaks #ICC The Hague The Political Tape turns Parabolic
Ghana All Share.
Picked up The Mirror of Ink by Jorge Luis Borges
"The Mirror of Ink". The cruelest of the rulers of Sudan was Yaqub the
Ailing, who left his country to the Egyptian tax xollectors & died on
the 14th day of the moon of Barmahat, in 1842. The wizard
Abd-er-Rahman al-Masmudi ("Servant of the All-Merciful ")told this
tale. He was in the captivity of the castle of Yaqub the Ailing. His
brother had just died by the sword, &he flung himself at the hated
feet of the Ailing, telling him that he was a wizard, & that if he
spared his life he would show him shapes & appearances more wonderful
than those of the magic lantern. The tyrant demanded proof, so he
asked for a reed pen, a pair of scissors, a leaf of Venetian paper, an
inkhorn, a chafing dish with live coals in it, some coriander seeds, &
an ounce of benzoin. He drew a magic square in the palm of Yaqub's
right hand, told him to make a hollow of its, & into a center poured a
pool of ink. The ruler named the images he wanted to see, & was able
to see what he wanted reflected in the ink. This went on for a long
time. He saw things impossible to tell, & often in the middle of the
image was the Man with the Mask. They dared not ask who it was. On the
14th day of the moon of Barmahat he asked to see an execution. The
doomed man was the mysterious man of the veil. The tyrant ordered that
the mask be removed. Yaqub's stricken eyes could see the face-it was
his own. He was filled with fear, but the wizard ordered him to go on
witnessing the ceremony of his death. When in the vision the sword
fell on the guilty head, Yaqub moaned & fell to the floor, dead.
Jets Buzz Seoul as South Korea Simulates Attack Bloomberg
Law & Politics
Fighter jets buzzed Seoul today to simulate an attack by North Korea
as the South conducted its biggest emergency drill in response to the
deadly shelling of Yeonpyeong Island.Sirens sounded across the country
at 2 p.m. local time, when workers from the National Emergency
Management Agency helped guide people to more than 25,000 shelters,
according to the group, known as NEMA. Traffic stopped and drivers and
pedestrians took cover in nearby office basements and subway stations.
An F/A-18E Super Hornet landed on the deck of the aircraft carrier USS
George Washington during a joint Naval exercise with South Korea in
the Yellow Sea. Photographer: Park Ji-Hwan/AFP/Getty Images
The Hermit Kingdom
Wen Heads to India on Heels of Obama With 400 Executives in Tow Bloomberg
Law & Politics
Prime Minister Wen Jiabao will escort 400 Chinese business executives
to India today as the world’s two fastest-growing major economies
build trade while managing disputes over their border and China’s
support for Pakistan.
Wen and Indian counterpart Manmohan Singh are to announce deals to
boost bilateral commerce, which at $60 billion represents 2 percent of
China’s projected total of $2.8 trillion this year. Chinese diplomats
say they’re ready to respond to India’s appeal to cut a trade deficit
that reached $18 billion as of November.
Wen’s three-day visit, six weeks after a similar trip by President
Barack Obama and days before a stop by Russian President Dmitry
Medvedev, illustrates the rivalry to court India, said Bates Gill,
director of the Stockholm International Peace Research Institute.
While India and China dispute parts of their 4,200-kilometer
(2,600-mile) Himalayan border, “I don’t put a lot of stock that there
is a 21st-century rivalry between the Tiger and the Dragon,” Gill
“The interest at least in the near-to-medium term for the two
countries is to create a constructive context in their relationship to
try to settle differences,” he said.China is India’s biggest trading
partner and India is China’s ninth largest, according to the Chinese
With the countries’ commerce having tripled in value over five years,
officials stress what Indian Foreign Secretary Nirupama Rao called the
“need to engage with each other” despite India’s “noise of public
opinion” over bilateral squabbles.
Alongside Rao at a Dec. 13 conference in New Delhi, Chinese ambassador
Zhang Yan highlighted risks from the kind of heated accusations that
erupted in India last year over reports of border incursions by
“China-India relations are very fragile and easy to be damaged and
difficult to repair,” Zhang said. “It needs special care in the
India is in the US Sphere of Influence.
My Posse is bigger than Your Posse.
Currency Markets at a Glance WSJ
Euro 1.3303 was above 1.34 yesterday
India Rupee 45.288
South Korea 1154.25
The dollar index DXY 79.72, +0.35, +0.44% a measure of the
greenback’s performance against a basket of six other currencies,
climbed to 79.610 from 79.248 on Tuesday in late North American
trading. “Stronger-than-expected consumer spending and the lack of any
major surprises from the Federal Reserve has helped the dollar recover
against the Japanese yen and European currencies,” Kathy Lien,
director of currency research at GFT.
Rating agency Moody’s Investors Service warned this week that if the
package is passed in its current form, the outlook for the U.S.
government’s Aaa rating could be downgraded to negative from stable
within the next 2 years.
South Korean Won versus The Dollar INO 1145.8
Mapping facebook friends how they did it The Guardian
Information & Communication Technology
How do you visualise a social phenomenon?
He says of the process:
Visualizing data is like photography. Instead of starting with a
blank canvas, you manipulate the lens used to present the data from a
certain angle… When the data is the social graph of 500 million
people, there are a lot of lenses through which you can view it. One
that piqued my curiosity was the locality of friendship. I was
interested in seeing how geography and political borders affected
where people lived relative to their friends. I wanted a visualization
that would show which cities had a lot of friendships between them
"Hubble: A Journey Through Space and Time” via Photo Booth New Yorker
An image of two colliding galaxies. The Antennae galaxies, located
about 62 million light-years from Earth, are shown in this composite
image from the Chandra X-ray Observatory (blue), the Hubble Space
Telescope (gold and brown), and the Spitzer Space Telescope (red). The
collision, which began more than 100 million years ago and is still
occurring, has triggered the formation of millions of stars in clouds
of dust and gas in the galaxies. The X-ray image from Chandra, taken
in December, 1999, shows huge clouds of hot, interstellar gas that
have been injected with rich deposits of elements from supernova
explosions. The Spitzer data, taken in December, 2003, show infrared
light from warm dust clouds that have been heated by newborn stars,
with the brightest clouds lying in the overlapping region between the
two galaxies. The Hubble data, taken in July, 2004, and February,
2005, reveal old stars and star-forming regions in gold and white,
while filaments of dust appear in brown. Many of the fainter objects
in the optical image are clusters containing thousands of stars.
Live 24 Hour Spot Gold KITCO 1388.30
Julian Phillips, editor of GoldForecaster.com, said gold prices are
currently consolidating around $1,400.
The consolidation, as well as the fall, in prices is part of a
“tightening trading range,” he said.
“We expect this to continue this week, but [gold prices] could fly up
at any time,” he said. “Gold is building a base from which to
overwhelm the $1,400 level. Once this is established, it will be a new
Could not have said it better myself.
Soft Commodities at a Glance INO
CC.Z10.E Dec 2010 (E) 2912 +51 +1.74%
CC.H11.E Mar 2011 (E) 2940 +52 +1.76%
KC.Z10.E Dec 2010 (E) 216.35 -0.85 -0.39%
COTTON #2 (NYBOT:CT)
CT.H11.E Mar 2011 (E) 141.78 -2.71 -1.88%
SUGAR #11 (WORLD)
SB.H11.E Mar 2011 (E) 30.78 +0.09+0.29%
Cocoa Dec 2010 2912 +51 (+1.74%) INO
Last Price 2912
Contract High 3497
Contract Low 2280
First Delivery 2010-12-30
Contract High Date 2009-12-16
Contract Low Date 2009-03-10
The Ivory Coast has yet to be squared off.
Ghana due to begin pumping oil for first time BBC
The West African nation of Ghana is due to pump its first oil after
the discovery of the offshore Jubilee Field three years ago.A
consortium led by UK-based Tullow Oil hopes to produce 55,000 barrels
per day, increasing to 120,000 barrels in six months.Ghana, one of
Africa's most stable countries, is expected to earn $400m (£254m) in
the first year.
Ghana All Share Bloomberg Visual +27.709% 2010
I expect a Strong Run Higher from Here.
US embassy cables #Ghana president wanted his entourage checked for drugs
Africa's social media revolution
Information & Communication Technology
In the mid-1990s, as the use of mobile phones spread in much of the
developed world, few thought of Africa as a potential market. Now,
with more than 400 million subscribers, its market is larger than
North America's and is growing faster than in any other region.
Ms Mariko in front of the computer. She just received in her mailbox a
request from Senegal (Mali, 2005). Image by Serge Daniel © UNESCO A
similar story now seems again to be unfolding as Africans use their
cell phones to connect to "social media" - internet services like
Facebook, Twitter and YouTube - that allow people to interact with
each other directly. In the process, they are joining what may be the
next global trend: a shift to mobile internet use, with social media
as its main driver. According to Mary Meeker, an influential internet
analyst, mobile internet and social media are the fastest growing
areas of the technology industry worldwide, and she predicts that
wireless telephones use will soon overtake computers as the primary
Africa is pushing both developments. Studies suggest that when
Africans go online (predominantly with their mobile phones), they
spend much of their time on social media sites. In recent months,
Facebook - the major social media platform worldwide and currently the
most visited website in most of Africa - has seen a massive growth on
the continent. The number of Facebook users now stands at over 17
million, up from just 10 million in 2009. More than 15% of people
online in Africa are currently using the platform, compared to 11% in
Asia. Two other social networking websites, Twitter and YouTube, rank
among the most visited websites in most African countries.
African sports, music and film stars, political leaders and companies
have joined the global conversation. The Facebook fan base of Ivorian
football star and UN goodwill ambassador Didier Drogba is approaching
one million. Zambian author and economist Dambisa Moyo has more than
26,000 followers on Twitter. Companies such as Kenya Airways and media
organisations in South Africa are using various social media platforms
to interact better with customers and readers. During recent elections
in Côte d'Ivoire, candidates not only toured the cities and villages;
they also moved the contest online, posting campaign updates on
Twitter and Facebook.
Africa's embrace of social media is even more striking given the low
number of Africans using the internet and the many hurdles they face
trying to go online.
Africa's 100 million internet users make the continent the region in
the world with the lowest penetration rate and a tiny minority of the
two billion people online around the world. Among the many reasons for
this poor showing are the scarcity and prohibitive costs of high speed
internet connections and the limited number of personal computers in
But these challenges simultaneously contribute to the growth in the
use of mobile internet, which in recent years has been the highest in
"Triple-digit growth rates are routine across the continent," notes
Jon von Tetzchner, co-founder of Opera, the world's most popular
mobile phone internet browser. "The widespread availability of mobile
phones means that the mobile web can reach tens of millions more than
the wired web." As with the rapid growth in use of mobile phones in
Africa in recent years, Mr. Tetzchner believes that the "mobile web is
beginning to reshape the economic, political and social development of
Erik Hersman, a prominent African social media blogger and
entrepreneur is equally enthusiastic. In an e-mail to Africa Renewal,
he notes that "with mobile phone penetration already high across the
continent, and as we get to critical mass with internet usage in some
of Africa's leading countries (Kenya, South Africa, Ghana, Nigeria,
Egypt)...a seismic shift will happen with services, products and
These growth rates are persuading major companies to invest in
reaching Africa's expanding pool of internet users. Facebook, after
launching versions in some of the major African languages, including
Swahili, Hausa and Zulu in May, has announced it will offer free
access to its platform to mobile phone users in many parts of Africa.
In October Google started testing a new service for Swahili speakers
in East and Central Africa. Tentatively called "Baraza" ("meeting
place" in Swahili), it allows people to interact and share knowledge
by asking and answering questions, many of them of only very local or
Africans are also cashing in on the local market. In South Africa,
MXit, a free instant messaging application with an estimated seven
million users, is the most popular local social networking service.
From Accra and Abidjan to Lusaka and Nairobi, African programmers are
designing and launching new home-grown platforms and tools that will
keep the African online conversation going and growing in the years
Article published courtesy of UN/Africa Renewal
Kenya elite on edge as court prepares to name election violence suspects The Guardian
Law & Politics
Panic has gripped Kenya's hitherto untouchable political elite as
prosecutors from the international criminal court prepare to name the
six main suspects behind the 2007 post-election violence, in which
more than 1,000 people were killed.
The court's chief prosecutor, Luis Moreno-Ocampo, will tomorrow name
six people he wants to indict. According to local media reports, the
list includes three current or former cabinet ministers, two security
chiefs and a businessman.
The six are alleged to have incited ethnic attacks, which saw mobs
with machetes turn on their neighbours, or to have ordered a brutal
police response to protests and rioting.
While he will apply to the court's judges for summonses rather than
arrest warrants, Moreno-Ocampo warned today that he expects the
suspects swiftly to announce their intention to "surrender
Among sections of the political elite, however, there is a sense of disbelief.
"Let me be clear," Moreno-Ocampo said: "if the suspects do not comply
with the conditions set by the chamber, I will request arrest
Moreno-Ocampo warned the suspects not to contact each other
Kenyan firms eye carbon credit billions Business Daily
Mumias Sugar and KenGen are Kenya’s top carbon credit sellers.Mumias
is seeking to double the close to Sh359 million ($5 million) it earned
last year from the sale of carbon credits in the international
“We expect to earn Sh800 million ($10 million) from the carbon trade
in the year ending June, 2011,” said Dr Kidero
Carbon trading involves the purchase of credits by mainly European and
Silicon Valley officials announce bid to join local tech ‘ecosystem’ The Nation
Information & Communication Technology
American technology investors are in the country scouting for new
companies with entrepreneurial expertise to invest in.The owners of
the San Francisco-based I/O Ventures, Jawed Karim, Russel Simmons,
Paul Bragel and Mbwana Alliy, say they are looking for start-ups with
the best ideas.
“We have heard success stories like M-Pesa and Ushahidi from Kenya,
and we believe there are others that can be nurtured to become great
companies,” Mr Simmons said on Tuesday at the Norfolk Hotel while
addressing technology university students.
Based on their experience of incubating start-up entrepreneurs, the
investors said they will form partnerships with other companies, the
government through the Kenyan ICT Board and universities to establish
a mentorship model for linking Silicon Valley in the US and East
I/O ventures are an early stage start-up programme that focuses
heavily on mentorship.
Their network of entrepreneurs has started multi-billion dollar
internet companies including PayPal, YouTube, MySpace, Hi5 and Yelp,
many of which have over 100 million users visiting their websites
Mr Simmons was among the early employees, and lead technical architect
at PayPal, former chief technical officer and co-founder of
Yelp.com.Mr Karim is co-founder of YouTube, former employee at Paypal
and a venture capitalist while Paul Bragel is partner at I/O ventures,
co-founder of Leforum (online forums), co-founder/CEO of Meetro
(location based social networking) and former CEO of Paragon Five
(game development).Tanzania-born Alliy is an associate at I/O
Ventures, co-founder of Yellow Masai, and board member at Envaya.
The end goal, I/O says is to spread ICT entrepreneurship, build a
bridge into Silicon Valley and encourage the growth of the local “tech
I went to the @Ihub yesterday and met these Folks. Good Job @Kaburo
And I welcome the Gentlemen to this Missive.
Kenya Recommends Top 10 Places for a Royal Engagement Elite Traveller Private Jet Lifestyle Magazine
In October, Prince William proposed to long-time girlfriend, Kate
Middleton during a 10-day private safari in Kenya. The royal
engagement happened in Rutundu, a remote retreat on the Northern
slopes of Mount Kenya. Rutundu features two cedar-log cabins with a
kitchen, open log fires and en-suite bathrooms. The cabins offer
incredible views and the quiet setting is as peaceful, relaxing and
romantic as it comes. Kenya offers a host of options for romantic
getaways. From the supreme luxury of Shompole to the rustic "star
beds" of Loisaba, and the anonymity of Rutundu, Kenya boasts an array
of accommodations fit for a "royal engagement." Here is our roundup of
10 magnificent properties:
1. INTO THE WILD — Loisaba Star Beds There's nothing more romantic
than being alone in the Kenya bush with your loved one, entwined in a
comfortable bed wheeled out under the stars. Each Star Bed is a
handcrafted wooden platform raised on stilts and partially covered
with a thatched roof. The homemade "Mukokoteni" is a uniquely designed
bed on wheels that enables you to be immersed in nature. Laikipiak
Maasai will cook a delightful dinner and cater to your needs through
the night, making the experience authentic and unforgettable.
I have shown You a Photograph of the Star Bed before.
Star Bed Loisaba Google Image Search
2. THE GENUINE SAFARI EXPERIENCE — Mara Bushtops Camp Nestled in the
Mara Siana Conservancy, Mara Bushtops is located close to the Mara
River, a prime vantage point for the Great Migration, and boasts
stunning views. Ideal for couples seeking a genuine and romantic
safari experience, each luxury tent features a sunken hot tub made
from local timber, indoor and outdoor showers, and incredible views of
Hannah's Friend's Father runs Bushtops.
3. THE BEACH STUNNER — The Majlis Hotel The Majlis Hotel is a
privately owned boutique hotel, which faces Ras Kitau Bay and the soft
murmur of the Indian Ocean waves. With 25 luxuriously appointed rooms
and elegant architecture, The Majlis is an idyllic getaway for
romantics seeking to explore another side of Kenya's rich and diverse
culture. The Majlis Hotel has the convenience of being close to Shela
Village and Lamu Town.
I preferred where We stayed in Lamu which was next to Peponi Hotel
which is advantage because Lars makes some very Fine Old Pals.
The Sea Front Lamu Town Twitpic
The Setting Sun Lamu Twitpic
4. THE HEART OF AFRICA — Ol Malo Ol Malo is an authentic hideaway in
Laikipia, which uses local materials to blend seamlessly in its
stunning surrounding. Each double room features its own veranda and
panoramic windows with views of Mount Kenya and the tribal heartlands
of the nomadic Samburu people. From horseback rides to whitewater
rafting, and camel safari to cross-mountain biking, Ol Malo boasts an
array of activities for couples seeking romance and adventure.
5. THE MAJESTIC ESCAPE — Sanctuary Ol Lentille Santuary Ol Lentille
conveys the epitome of African luxury. Perched on the flanks of a
wooded rock kopje, Sanctuary Ol Lentille features four private,
full-service and fully staffed houses. From participating in community
conservation programs to playing croquet or swimming in the "Horizon"
pool, Sanctuary offers a range of exciting activities sure to keep the
6. THE ELEGANT OASIS — Joy's Camp Joy's camp boasts 10 sumptuous
tents, uniquely adorned with Boran/Somali cloth design, handmade glass
and the bright fabrics of local nomadic tribes. Each tent features
unparalleled views, with a private viewing deck where couples can
bundle up in a blanket and watch the sun set on the rolling hills.
7. FASHIONABLE ECO-TOURISM — Shompole Shompole is an eco-conscious
lodge sitting on a private conservancy overlooking sun-drenched
plains, riverine forest, and volcanic mountains. Each Shompole room
features a private pool where couples can relax and cool down from the
hot African sun.
8. PALATIAL SETTING — Ol Donyo Wuas Ol Donyo Wuas Lodge consists of
ten expansive guest suites in six stand-alone villas. Each villa
features a unique design and dramatic views of the plains and Mount
Kilimanjaro. The privacy and luxurious décor enables couples to bathe
in complete tranquility and unparalleled comfort, while retaining an
authentic bush experience.
9. BORN FREE — Elsa Kopje This classic safari lodge features eight
thatched-roof cottages, which are crafted to incorporate and highlight
its natural surroundings. Studded with baobab trees and incredible
views, Elsa Kopje is the quintessential African escape. Named after
the lioness made famous in the Oscar-winning 1966 movie "Born Free,"
Elsa Kopje provides an amazing and serene backdrop for couples seeking
to reenact an idyllic Hollywood romance.
10. THE RUSTIC CHARMER — Il Ngwesi Situated on the northern edge of
the Lewa Wildlife Conservancy, this intimate and environmental
award-winning lodge is heralded for its successful efforts to coexist
with the Maasai community and to protect the endangered black rhino.
The comfortably furnished bandas feature open panoramic views of the
Kenya wilderness. Couples can choose to hike the slopes of Mount
Kenya, visit a traditional Maasai village, meet the endangered black
rhinos, or take a dip in the horizon pool.
Well Most Participants that I know were transfixed by Ocampo's Live
Stream and his naming of his Six Most Wanted. The Bourse had some
Glitches and the Close was extended
1 Hour and 40 minutes to 4.40 Kenya Time.
The Key Issue is a Political One and that is Whether Ocampo's Incision
is a clean One and that for now is a Known Unknown [borrowing Donald
Rumsfeld's old Maxim about there being Known Knowns Known Unknowns and
The Closing Prices are delayed and I have Precised the Key Movers below.
Volume spiked to 555.072m. KPLC rights were trading at 50 cents at the Close.
N.S.E Equities - Commercial & Services
shares volume 16,277,200
total turnover 76,655,568
avg price 4.71 CLOSING PRICE 4.70
high price 4.75
low price 4.70
last price 4.70
Safaricom was firm all day and had Unserviced Bid Side Demand at 4.70
for over 9m shares at the Close. Safaricom bounced off 4.50, where it
was deeply oversold and now trades on a Trailing PE of 12.368 which
remains inexpensive and The Price targets 5.00 in the near term, all
things being equal.
Safaricom share price data www.rich.co.ke
Par Value: 0.05/-
Closing Price: 4.70
Total Shares Issued: 40,000,000,000
Market Capitalization: 188,000M
Kenya Airways traded 5th. Kenya Airways was unchanged at 45.00 and
traded a 44.75-45.50 range and 1.285m shares worth 57.873m. Kenya
Airways reported 1st Half EPS at 3.11. Straightlining that 1st Half
[and That is I admit an Assumption] I arrive at a Forward PE Multiple
of 7.234, which looks inexpensive. Kenya Airways is up 27.794% over 1
Year and has eased off 2010 Highs of 66.00 dated 17th March This Year.
N.S.E Equities - Finance & Investment
KCB rallied 1.135% to close at 22.25 and was trading at 22.50 +2.27%
into the Finish. KCB traded a 22.00-22.50 range and 1.028m shares
worth 22.899m. KCB is showing a Demand versus Supply Imbalance and
trades on a Forward PE of just below 8.00. I have a Price Target of
32.00 coincident or before the Release of the Full Year Results.
COOP Bank traded 2nd at the Bourse. COOP Bank eased 5 cents to close
at 19.00 and traded an 18.95-19.25 range and 3.838m shares worth
73.080m. COOP Bank has rallied 114.988% over 1 Year and trades on a
22.416 Trailing PE Multiple.
NIC Bank rallied 2.608% to close at 49.25 on heavy Volume of 1.275m
shares worth 62.802m. NIC Bank has posted a 93.523% 1 Year Return and
trades on a Trailing PE of 16.48 and a Forward of about 10.00.
N.S.E Equities - Industrial & Allied
Kenya Power Ordinary shares traded 2.2% lower to close at 22.50 and
KPLC traded out the Session at 21.50 -5.49% session Lows. KPLC traded
1.843m shares worth 41.367m.
KPLC Rights were trading 50 cents at the close.
KenGen was unchanged at 16.95 and was at 17.00 +0.29% at the Finish.
KenGen traded 519,900 shares worth 8.831m.
Cables closed at 16.10 and traded 8,800 shares.
EABL traded 4th at the Bourse. EABL was unchanged at 209.00 and was
trading 210.00 +0.48% into the Close. EABL traded 309,500 shares worth
64.977m and has retreated from a 226.00 All Time High in November but
might well have based out now at just above 200.00.
Mumias Sugar eased 0.51% to close at 9.70 and traded 1.580m shares