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Friday 01st of September 2017 |
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The Latest Daily PodCast can be found here on the Front Page of the site http://www.rich.co.ke |
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China's Communist Party will likely begin its much-anticipated congress on October 18 Law & Politics |
The Chinese Communist Party will likely begin its much-anticipated congress on Oct. 18, state media said, officially starting the clock on the country’s biggest political reshuffle since 2012.
The 19th Party Congress’s proposed start date was announced Thursday after a meeting of the party’s Politburo, according to the official Xinhua News Agency. While the schedule is technically a recommendation and requires approval from the broader Central Committee, that’s usually a formality.
The gathering of some 2,300 party delegates -- held every five years in Beijing -- will provide President Xi Jinping his biggest opportunity to reshuffle scores of top positions across the government and write his policies into the party’s guiding documents. As many as five of the seven officials on the Politburo’s elite Standing Committee -- and roughly half of the broader Central Committee -- could be replaced.
The Politburo said the congress came during a “critical period of the development of socialism with Chinese characteristics,” according to Xinhua.
The week-long event will determine Xi’s ability to implement policies such as overhauling the world’s largest military or reducing China’s $33 trillion debt pile. The pageantry begins with a speech by Xi detailing the party’s policies for the next five years and ends with curtain call by the new Standing Committee line-up.
Conclusions
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Gasoline Surges as Storm Harvey Closes Major U.S. Fuel Pipeline Commodities |
Gasoline surged in New York, extending its longest rally since 2013 as an important conduit of fuel from the Gulf of Mexico to the U.S. East Coast began to close due to the effects of Tropical Storm Harvey.
Motor-fuel prices climbed as much as 8 percent in New York, advancing for an eighth session. Harvey has shuttered about 23 percent of U.S. refining capacity, potentially cutting fuel-making ability to the lowest level since 2008 and depriving the Colonial Pipeline of supplies. Its operator was forced to shut the main diesel line late Wednesday and planned to halt its gasoline line Thursday, meaning motorists from Maine to Florida may soon see higher prices at the pump.
As gasoline surged to a two-year high, U.S. oil prices lost more than 3 percent since Harvey made landfall as demand from refiners fell. This sent cracks -- the premium of the refined fuel over crude -- higher in New York, while the storm also triggered a flurry of trans-Atlantic gasoline trading and disrupted exports of liquefied petroleum gas, causing prices to rise in Asia.
“Harvey is driving cracks to the sky,” said Bjarne Schieldrop, chief commodities analyst at SEB AB in Oslo. “Crude-oil prices have declined while oil-product prices have increased.”
Gasoline for September delivery, which expires Thursday, advanced as much as 15.07 cents to $2.0354 a gallon on the New York Mercantile Exchange, the highest in more than two years. The more-active October contract rose 2.4 percent to $1.6764 as of 9:03 a.m. local time.
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No Country for Civilians Jason Patinkin Africa |
KAJO KEJI, South Sudan — Brig. Gen. Moses Lokujo stood in the ruins of Loopo, a strategic hilltop village in South Sudan’s lush southern Equatoria region. Less than two miles to the east, telephone poles poked over a green ridge, marking the outskirts of Kajo Keji, the seat of the county of the same name, where rebels under Lokujo’s command stared down government forces across a deserted marketplace, one of dozens of front lines in a grinding, three-year civil war that no one was winning.
It was late April, about two weeks after the South Sudanese army had attacked Loopo from the southwest, blasting through two lines of rebel defenses and wreaking havoc through the village. When the government forces eventually retreated to their base along the Ugandan border, the rebels moved back in to find the place destroyed. The homes were torched, the shops looted. A rocket-propelled grenade had cratered the wall of a primary school building, leaving behind sheaves of white ash that used to be books.
The army had attacked again, flanking the rebel positions around Kajo Keji just days before I arrived, but Lokujo’s men had repulsed them under heavy fire. “This is my location,” said Lokujo, a tall, well-built ethnic Kuku armed with a quick laugh and a black 9 mm pistol strapped to his hip. “The enemies will not come out and kill our civilians.”
1 million South Sudanese have flooded into Uganda, including three-quarters of Kajo Keji’s population, amid what the U.N. has described as a campaign of ethnic cleansing. It is the largest sudden exodus in Africa since the 1994 Rwandan genocide.
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Veteran Diplomat Named 'Acting' State Department Africa Chief Africa |
Donald Yamamoto, who has extensive diplomatic experience in Africa including two tours as a U.S. ambassador, will take office as Acting Assistant Secretary of State for Africa on 5 September. He is the second career official tapped for a senior policy position on Africa in the Trump administration. Senior CIA analyst Cyril Sartor was hired as senior director for Africa at the National Security Council earier this month Key Africa jobs at the Defense Department (DOD) and the U.S. Agency for International Development remain vacant.
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Freetown's mudslides and the slippery slope of urban risk in Africa IRIN NEWS Africa |
On Monday 14 August, the world awoke to reports of devastation caused by large-scale mudslides and localised flooding in Freetown, Sierra Leone’s rapidly urbanising capital.
The death toll rose within a few days to approximately 500, with several hundred more people reported missing and thousands displaced. The full extent of this disaster and the exact losses are not immediately known and may never be fully investigated.
As harrowing images drew in global sympathy, predictable post-disaster patterns ensued: sporadic inputs of disaster relief, political speeches and tours of affected sites, and a few days of “declared” national mourning.
However, beyond this short-term intervention, the persistence of African urban risk and frequent disaster events raise issues that require urgent attention.
Many other African towns and cities such as Accra, Nairobi, Dar es Salaam, Kampala, Monrovia, and Dakar have recently also experienced small- and large-scale disasters including floods, large structural collapse, fire outbreaks, and disease epidemics, often following a repetitive seasonal or yearly cycle.
Much can be learnt from the recent disaster in Freetown, which was caused by multiple interrelated factors: weak and fractious planning, inadequate governance and disaster preparedness, lack of affordable land leading to extensive land use change, deforestation, and land-grabbing in hazardous locations.
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Opposition leader warns Zambia faces violence if talks with president fail Africa |
“Let me assure you, today in Zambia if you wore a UPND T-shirt, my party’s T-shirt, you would be committing suicide because you can be killed for wearing that,” he told media in Cape Town.
Nevertheless, Hichilema said he was confident the talks would succeed in preserving order in the southern African nation.
“If we were not confident, we would not embark on it, we would not be part of the process (talks). But, there is no alternative to that, the alternative is brutality and counter-brutality and lives will be lost,” he told media in Cape Town.
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Angola accounts for about two-thirds of China's oil imports from sub-Saharan Africa Africa |
There was a point when Nigeria's oil riches made it a natural partner for China -- but as Beijing has diversified supplies, other countries have stepped up. China doesn't care that much about the rule of law in countries where it invests -- but it does care deeply about stability. Nigeria has been unable to provide this, as underlined by the back-and-forth over the Mambilla project and at Addax Petroleum.Sub-Saharan Africa's most populous nation was for much of the past decade its biggest recipient of foreign direct investment. These days, it trails not just Angola, but Mozambique and Ghana too. When even China's unfussy investors are having second thoughts, you know you're in trouble.
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Kenya: The Election & the Cover-Up Helen Epstein @nybooks ‏ Kenyan Economy |
When Kenya’s electoral commission announced on August 11 that President Uhuru Kenyatta had won another five-year term with over 54 percent of the vote, observer teams from the African Union, the European Union, and the highly respected US-based Carter Center, led by former Secretary of State John Kerry, commended the electoral process and said they’d seen no evidence of significant fraud. Congratulations poured in from around the world and Donald Trump praised the elections as fair and transparent.
But not everyone was happy. Raila Odinga, leader of the opposition National Super Alliance party, or NASA, declared the election a sham as soon as the results began coming in. On August 18, he submitted a petition asking Kenya’s Supreme Court to annul it and order a re-vote. The petition claims, among other things, that nearly half of all votes cast had been tampered with; that NASA’s agents, who were entitled by law to observe the voting and counting, had been thrown out of polling stations in Kenyatta strongholds; and that secret, unofficial polling stations had transmitted fake votes. The Supreme Court is expected to rule on September 1, but on August 29, the court registrar reported that some 5 million votes, enough to affect the outcome, were not verified.
Shortly before departing Kenya, John Kerry praised the electoral commission for having done an “extraordinary job to ensure that Kenya has a free, fair and credible poll.” He then urged the opposition to “get over it and move on.”
Conclusions
There was clearly plenty of malfeasance but it did not change the result.
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Kenyan Economy |
Following Kenya’s recently concluded elections, I took a walk on my Laikipia farm and lit up a cigar, stale because I had saved it for a day when I might hear a bit of good news that never seemed to come. I felt it was the end of a terrifying five-year ordeal when I frequently sensed my life was in extreme danger. A few weeks before at a rally on the plains near our farm boundary, our local MP, Mathew Lempurkel, had allegedly declared: ‘If we win this election we will take this land… We will make sure all wazungus (white people) go to their homes.’
This speech was recorded by witnesses, and Mathew was arrested and charged with incitement. But my MP was no stranger to criminal cases. In March he was arrested following the shooting of my friend and neighbour Tristan Voorspuy, though charges were dropped for lack of evidence linking him to this cold-blooded murder. In another pending criminal case he is accused of threatening to burn down my local police station if its commander did not release his cohorts from the cells. In yet another pending case, he is accused of assaulting Sarah Korere, his arch rival for the Laikipia North parliamentary seat. He allegedly beat her up in a government office last November, after which he sent her an SMS threatening: ‘Withdraw this case you prostitute or you die idiot.’
I have known Mathew since even before I bought my land 14 years ago. His people are the local cattle-keeping Samburu, but he was partly raised by an elderly Italian Catholic priest. He promoted himself as a militant Samburu leader during a bloody feud with the neighbouring Pokot tribe in which hundreds died. He seemed frequently to crash vehicles and he had a reputation for hard drinking. I sensed he loathed white people, but I always showed him respect, because he was prominent in his community.
Mathew had strong political ambitions but funding election campaigns in Kenya is an expensive business. Before the 2013 national polls, his Italian patrons claimed that he had run down a Catholic charity set up to organise operations for small children suffering severe heart problems.
In the years since I started building up my farm, life in Laikipia had always been very peaceful for us. The trouble kicked off the day Mathew won his election. For three nights running, extremely violent bandits hit the farm, rustling cattle. Shots flew every-where. A gunman emptied an entire clip of AK-47 bullets into my car — from such close range that sparks from the muzzle bounced off the windscreen — as I drove to help my neighbours, who suffered cattle raids every night for a week.
In the succeeding years, the violence escalated all around us. Hordes of Samburu armed with guns, spears, knobkerries (a form of club) and swords pushed multitudes of cattle into ranches owned by white farmers — but also into the maize patches and pastures of poor smallholders from rival tribes.
Mathew was always making headlines. In 2014 he was kicked off an Emirates flight, accused of drunkenly assaulting flight attendants and throwing glasses around while demanding to be served alcohol before takeoff. Dubbed a ‘rogue’ passenger by the airline, he later complained: ‘I just wanted a Tusker.’ When he returned to the Catholic charity and started loading up computers and other property to take away, locals tried to lynch him.
In 2015 a gang of warriors, known as morans, who were allegedly herders for some of Mathew’s large mobs of cattle, entered my land. Several men threw rocks at me while shouting: ‘Kill! Kill!’ I used my left hand to fend off one missile, the injuries festered and the doctors nearly had to amputate my fingers. I adore Kenya, where my family has been since the 1920s, but as I lay in hospital for a week I wondered whether farming in Laikipia was worth the risk.
Early last year, Mathew — who has repeatedly denied the numerous offences of which people have accused him — came to visit me on my farm. He is a short man with a falsetto voice and an otter-like sleekness. He is clearly intelligent but he has this disturbing habit of grinning when a nasty subject comes up in conversation. I implored him to be a leader for all ethnic communities in Laikipia rather than just the disgruntled, unemployed Samburu youths who followed him around. Our constituency is beset with some ghastly social problems: child marriage and the clitoridectomy of young brides.
All children should attend primary school by law in Kenya, but in Laikipia you see tiny boys herding cattle — a perilous task in the African bush. In 2015 I saw a photo of a small Samburu child herder half eaten by a lioness. Mathew had a budget of millions of pounds earmarked for social projects in education, health and so on — but in the shanty that was his powerbase, a few kilometres from the farm, he had built a single-roomed structure the size of a garden shed, which he called a ‘school’.
I told Mathew I had met men like him before — in Rwanda in 1994, Hutu warlords driven by hatred for the Tutsis. The young militias they incited to kill others eventually turned on them and practically ate their leaders. Mathew blinked and played with his phone. A few months later he told my farm workers that he would break down my gates and fences.
I survived another ambush with gunshots flying as I drove home one night. In late October, as Kenya heated up for this year’s elections, my Samburu neighbours came to tell me Mathew was inciting a mob of young moran warriors to invade my farm. I refused to believe this claim, because I was doing plenty of business with my Samburu neighbours. I had bought £30,000 worth of cattle from them that year and I was about to start giving them pasture for their cattle at the onset of the dry season.
A few days after this on 27 October, 300 warriors armed with bolt cutters smashed through our electric fences and poured 10,000 cattle into the farm. Within ten minutes of the alarms sounding, I phoned Mathew and implored him to withdraw his supporters. He denied that he was behind the invasion, jeered at me and said, ‘Bring the witnesses to testify in court’, before cutting the line.
During the two-month invasion, I lost £282,000, according to an assessment by the local government livestock production officer. After the mobs had destroyed all the fences and pastures, leaving empty cans of Red Bull and bottles of cheap hooch known as Trigger, I heard Mathew held a celebration on the plains. Here he slaughtered two bulls and allegedly said something along the lines of: ‘I gave you the grass — now give me the votes.’
Impunity brings any perpetrator to a point of no return. What the person has done wrong cannot be undone, and because after each criminal act the stakes are raised ever higher, in order to survive he must commit wrong after worse wrong.
During Laikipia’s invasions over the past ten months, dozens of people have been murdered — most of them poor black smallholders — and losses from vandalised property and lost business is estimated at around £30 million. A few weeks ago Mathew’s boss Raila Odinga, the opposition leader, told the Times that white-owned farms in Laikipia would be ‘rationalised’.
At press conferences Mathew seemed to be always at Raila’s side. In the nights before election day on 8 August, I could not sleep a wink. I felt the world was about to come to an end. A Samburu friend tells me that Mathew began vomiting at the tallying centre as the votes being counted showed that he was about to be trounced by Sarah -Korere, the woman he had allegedly beaten last November. Sarah is inclusive, a defender of the rule of law, pro-education, a promoter of opportunities for women, and famous for breastfeeding her baby in parliament where there were no facilities. The people had rejected everything Mathew represents — and in the presidential elections, Kenyans also rejected Raila’s crude populism and voted instead for Uhuru Kenyatta and his promises of economic development. Raila contests the result, claiming it was ‘rigged’.
For sure Kenya has a long way to go and corruption remains a giant problem. But I had been preparing for the very worst under another five years of Mathew. I now feel on top of the world about Sarah’s election and the chance for all of us to help her rebuild Laikipia from the ashes. This is what living in a young democracy is like. Despair one day, the next great hope.
On his release Mathew’s followers began building a boma, or livestock camp, up against my farm’s northern boundary.
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Aidan Hartley Kenya is special like no other African nation @spectator Kenyan Economy |
As I write this, my hands are seared and bruised from holding a hot iron after branding our cattle. We have castrated our steers and piled up the testicles on fence posts to fry later. We fought the cattle to the ground. We pulled their tails and they bellowed.
I feel so happy. The cattle brand sizzles into the flesh with a hiss and a cloud of smoke as it burns in the brand KH9, which has been the Hartley mark here in Kenya since 1936. Finally we might have a stud herd that can make a difference. This has all been going on in my absence, but I have come home to the farm after covering dozens of wars and crises for 25 years and I will do it no more. Cattle rustlers and bandits will still shoot at me but I am going to be a farmer for the rest of my life. And the farmer’s foot is the best manure for me because I can personally fight off armed cattle rustlers and diseases such as foot-and-mouth.
This morning I went for a walk on the farm and found myself lying on my back, looking up at two African fish eagles calling triumphantly to each other as they wheeled about the sky. I found a buffalo hoof mark in the mud; a dik-dik midden, a swath of trashed bush where a herd of elephant had passed like a cyclone — and a dung beetle rolling a ball of turd like a miniature Sisyphus. Above the birdsong, in the distance, from my neighbour’s farm several kilometres away there was the sound of the weaner calves lowing plaintively for their mothers. Sunlight and cloud shadow passed over the land in racing dapples. After walking for an hour, I found myself in a corner of the farm I had never found before, standing in front of a wild caper tree, with a trail of bees emerging from a hole in the trunk like a line of musical notes.
I am in one of the best places in the world. Near here, in November 1897, Lord Delamere, having trekked for a year down through the burning wastes of Somalia and Kenya, rode his horse up the steep escarpment from Lake Baringo in the hot trench of the Rift Valley to the northern marches of the Laikipia plateau a few miles from my home. Here he saw for the first time the cool waters, the green grass, the fresh breeze and cavalcades of clouds that I see each day. In her biography of Delamere, Elspeth Huxley wrote that these things astonished and excited him. Here ‘was a promised land, the realisation of a Rider Haggard dream of a rich and fertile country hidden beyond impenetrable deserts and mountains. Here was a modern Eldorado, waiting only for recognition.’
More than a century later, we have the cool nights, breezy days and air that is clear and fresh. We still have the huge green circles that are remnants of the boma enclosures of the Laikipia Maasai who were exterminated by their fellow Maasai clans in the late 19th century. The conflicts are not over and we have cattle rustlers and gunfire, but when the fears of the night lift and I listen to pigeons in the roof and lion at dawn I am a very happy man.
Huxley believed Delamere’s first encounter with Laikipia’s Elysian pastures bound his allegiance to Kenya. Until then, Europeans had seen East Africa simply as a place to be possessed, occupied, pacified or administered. But Delamere saw it as a place ‘of fine possibilities’ where a man could feel alive and invigorated.
For decades people have baulked at Huxley’s emphasis on the whites’ colonial project coming at the expense of black East Africans. But the truth is that the moment of that first encounter Delamere had with Laikipia helped create a sense of manifest destiny for all Kenyans, the recognition that we are special, in a way that is shared by no other African nation. Oh, the light here at dusk, I wish you could see it.
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ARM Cement reports H1 2017 EPS [-3.30] Earnings here Kenyan Economy |
Par Value: 5/- Closing Price: 19.45 Total Shares Issued: 495275000.00 Market Capitalization: 9,633,098,750 EPS: -5.84 PE: -3.330
A mineral extraction and processing company which manufactures lime, cement and other industrial fertilisers.
ARM Cement PLC H1 2017 results through 30th June 2017 vs. 30th June 2016 H1 Revenue 5.347487b vs. 6.670350b -19.832% H1 [Loss]/ profit before tax [1.379980b] vs. [363.905m] -279.214% H1 [Loss]/ profit after tax [1.413541b] vs. [266.782m] -429.849% [Loss]/ earnings per share [3.30] vs. [1.10] -200.000% No interim dividend Total assets 49.363670b Equity attributable to equity holders of parent company 26.381580b Cash and cash equivalents at the end of the period 113.403m vs. 100.220m +13.154%
Conclusions
Kitchen-sinked these results.
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HOME AFRIKA H1 2017 EPS [-0.22] Earnings here Kenyan Economy |
Par Value: Closing Price: 1.10 Total Shares Issued: 405255320.00 Market Capitalization: 445,780,852 EPS: -0.39 PE: -2.821
Home Afrika Limited H1 2017 results through 30th June 2017 vs. 30th June 2016 H1 Revenue 92.474m vs. 54.346m +70.158% H1 Cost of sales [75.274m] vs. [38.286m] +96.610% H1 Gross profit/ [loss] 17.200m vs. 16.060m +7.098% H1 Other operating income 7.638m vs. 5.473m +39.558% H1 Total operating expenses [107.514m] vs. [64.593m] +66.448% H1 Operating loss [82.676m] vs. [43.060m] +92.002% H1 Finance costs [47.590m] vs. [53.958m] -11.802% H1 Loss for the period [130.266m] vs. [97.018m] +34.270% H1 Loss attributable to non controlling interests [13.133m] vs. [2.946m] +345.791% H1 Loss attributable to owners of the parent [89.786m] vs. [96.468m] -6.927% Basic and diluted [Loss] per share [0.22] vs. [0.24] -8.333% Current assets 3.358714b Current liabilities [4.265775b] H1 Ordinary share capital 405.255m vs. 405.255m – H1 Share premium 68.842m vs 68.842m – H1 Retained earnings [758.113m] vs. [649.285m] -16.761% H1 Minority interests [29.070m] vs. 34.065m -185.337% H1 Total equity [313.086m] vs. [141.123m] -121.853% Cash and cash equivalents at the end of period 13.414m No interim dividend
Company Commentary
''the effect of the suppressed selling prices of the units sold off plan in our Mitini Scapes development within Migaa'' The deferred revenue and deposits from sales of plots grew from 2b in 2016 to 2.2b in 2017 Book Value of group's sellable land or land Bank grew to 3.18b process of fundraising ..has so far progressed very well.
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Lake Victoria has been affected by years of mismanagement, environmental changes, and a burgeoning population @irininews _ Kenyan Economy |
Lake Victoria, Africa’s largest lake, has been affected by years of mismanagement, environmental changes, and a burgeoning population. Desperate families use illegal nets and poison to catch fish, piracy is on the rise, and alcoholism is rife. As fish stocks dwindle, more and more families struggle to make ends meet.
Some fishermen still venture out onto the overfished waters. Among them is Juma Otieno, a Kenyan with no land to farm. In order to make a living, he travels in search of Nile perch to the island of Migingo, ownership of which is contested by Kenya and Uganda. Over the seven years he’s been working there, he’s become increasingly worried he’ll soon have no means of making an income.
On the other side of the lake, on Uganda’s Ssese Island, Joseph Kibelu has long given up fishing and is now producing palm oil. His trees produce good fruit, he harvests and sells regularly, and he’s now able to educate his children. However, the destruction of the island’s natural forests to make way for palms has altered weather patterns and the seasons have become less predictable. Compounding this is the poor soil that demands a lot of fertiliser; something he knows can have a direct and fatal effect on the fish-breeding grounds that surround the islands.
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