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Wednesday 16th of August 2017
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Morning, Africa |
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as your Browser.
0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.
The Latest Daily PodCast can be found here on the Front Page of the site
http://www.rich.co.ke |
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An Insane View of the Milky Way From the Edge of New Zealand @Wired Africa |
He nabbed this particular shot of the bay on a still, clear night in
February. It was about 3:30 am, the tide was going out, and the Milky
Way was just beginning to rise in the eastern sky. Wilson hooked his
Canon 1D X Mark II up to a panoramic mount and tripod on the edge of
the wet sand. He made 25 20-second exposures—five down and five
across—to capture the entire scene. Later, he digitally stitched the
photos together in the program Autopano Giga.
“There are dead stars that still shine because their light is trapped
in time. Where do I stand in this light, which does not strictly
exist?” ― Don DeLillo, Cosmopolis
Macro Thoughts
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Trump Gives White Supremacists an Unequivocal Boost NYT via @michaeldweiss Law & Politics |
President Trump buoyed the white nationalist movement on Tuesday as no
president has done in generations — equating activists protesting
racism with the neo-Nazis and white supremacists who rampaged in
Charlottesville, Va., over the weekend.
Never has he gone as far in defending their actions as he did during a
wild, street-corner shouting match of a news conference in the gilded
lobby of Trump Tower, angrily asserting that so-called alt-left
activists were just as responsible for the bloody confrontation as
marchers brandishing swastikas, Confederate battle flags, anti-Semitic
banners and “Trump/Pence” signs.
“Thank you President Trump for your honesty & courage to tell the
truth,” David Duke, a former Ku Klux Klan leader, wrote in a Twitter
post shortly after Mr. Trump spoke.
“Alt-left” groups were also “very, very violent,” Mr. Trump said early
in his exchange with reporters.
He went on to assign “blame on both sides” — echoing his comments on
Saturday, and reigniting a fight that has sunk staff morale after a
brief bump in enthusiasm that followed the hiring of Mr. Kelly, who
was to impose discipline on a chaotic West Wing.
“There’s no moral equivalence,” Mr. Cantor said.
Conclusions
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Amazon Bonds expected to price today World Of Finance |
The bonds are expected to price today, with discussion around yields
putting the 10-year tranche at about 3.3 percent and the 40-year bonds
at about 4.5 percent. Those levels may tighten further and are well
below longer-term averages for debt that's rated near the lower end of
the investment-grade spectrum by Moody's Investors Service. The demand
for this debt is understandable. Amazon seems like a fortress of
strength that's sapping energy from the wider retail industry. But
it's a much better story for equity investors than debt buyers, who
ostensibly are concerned with hard numbers, like continuing profits.
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Standard Bank Seeks to Raise $3 Billion for Ugandan Oil Pipeline Africa |
Standard Bank Group Ltd.’s Ugandan unit plans to raise $3 billion for
a crude pipeline by the second half of next year as the East African
country prepares to start oil production by 2020.
Stanbic Bank Uganda was appointed alongside Japan’s Sumitomo Mitsui
Banking Corp. as joint financial adviser for the 1,445-kilometer
(898-mile) pipeline, Patrick Mweheire, the chief executive officer of
the Kampala, Uganda-based business, said in an interview on Tuesday.
The companies will explore raising bank debt or loans from export
credit agencies among the options they are considering, he said,
without giving more details.
The pipeline will connect Uganda’s Hoima oilfields in the west to the
port of Tanga in neighboring Tanzania. Ugandan President Yoweri
Museveni and his Tanzanian counterpart John Magufuli commissioned the
construction of the $3.5 billion pipeline earlier this month. France’s
Total SA, China’s Cnooc Ltd. and London-based Tullow Oil Plc are
jointly developing the country’s oil finds.
“A lot of activities are going on, a lot of tenders are being made”
and expectations are that the final investment decision for the
project will be made in the first quarter of next year, Mweheire said.
Fundraising for the project won’t cause “any currency mismatch”
because borrowing can be done in dollars, he said.
Conclusions
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Guptas Are Said to Tell Bank of Baroda They've Found Alternative Africa |
The Bank of Baroda, which took on the Guptas after South Africa’s four
biggest lenders closed their accounts, have given the family’s
businesses two extra months to transfer their accounts to the new
bank, the person said, declining to name the institution and asking
not to be identified because the details are confidential. The
family’s businesses have paid back most of their loans from Bank of
Baroda, the person said.
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The changing climate is a major pressure on communities across Madagascar Africa |
Landing his wooden canoe on the coral-sand coast of Madagascar, just a
few steps from his home, fisherman Samba Lahy recalls his childhood:
"I started fishing with my parents when I was 18," he told DW. "We
used to return home with the pirogue packed with fish."
Today, life in Tampolove - a small village in the south of Madagascar
- has changed for Lahy and his family. "Resources are rare," he said.
For 1 kilogram (2.2 pounds) of fish per day, fisherman can earn $1
(.87 euros). "On lucky days, a catch goes up to 20 kilograms," Lahy
explained.
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A Tale of Two Cities: Kenyan Election Spotlights a Divided Capital WSJ Kenyan Economy |
In affluent districts of this bustling capital, traffic has returned,
and voters gather in upmarket cafes to toast the reelection of
President Uhuru Kenyatta.
Just minutes away, in the slums of Kibera and Mathare, smoke rises
from tires burning in the streets, and supporters of opposition
candidate Raila Odinga fight police in deadly clashes.
“What I’ve learned from my first time voting is you vote, you lose,
you get beaten up,” said Vincent Ochieno, 22 years old, a teacher from
Mathare, in eastern Nairobi. As some residents picked through a vast
mound of trash in the center of the slum, he said he didn’t want to
protest, as nothing would change: “Why should I go out and vote
again?”
In the heart of Nairobi’s booming business district on Monday,
employees hurried back to work, ignoring Mr. Odinga’s call that voters
should strike to protest the election. On Tuesday, the Kenyan stock
index rose to a three-year high, up more than 25% since the beginning
of the year.
But in opposition strongholds—dominated by the poorest members of
minority tribes—angry voters are responding to Mr. Odinga’s claim that
Mr. Kenyatta rigged the election. It is a charge Mr. Odinga’s Luo
tribe has leveled repeatedly at Mr. Kenyatta’s majority Kikuyus since
Kenya became a multiparty democracy in 1992.
The persistent polarization of this city of about 4 million has been
thrown into a sharper focus by the election, raising fears that years
of dynamic economic growth envied across the continent has failed to
ease tribal grievances and inequality that could be a time-bomb for
east Africa’s richest economy.
“One of the striking things for everyone in Nairobi was that much of
the city was eerily quiet and in other areas we saw extreme violence,”
said Justin Willis, an Africa specialist at the University of Durham
who was in the city to observe elections. “It reflects a geography of
economic and tribal separation that many in Kenya fear poses the
gravest threat to their society’s law and order.”
The Kikuyus are the largest and economically dominant tribe in Kenya,
representing about 22% of the population. They organized most
successfully against the British and so secured the first fruits of
independence in 1964. Mr. Odinga’s Luos, with some 13% of the
population, are the fourth-largest tribe, according to the latest
census in 2009.
Tribal arithmetic can be complex and in flux, often making other
tribes the kingmakers: the Kalenjin, the country’s third-largest
tribe, is aligned with the Kikuyus; the Luhyas, the second-largest,
with the Luos.
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Kenyan government attempts to close down two rights groups Reuters Kenyan Economy |
The Kenyan government is trying to shut down a rights group and a
pro-democracy organization who raised queries over last week's
disputed presidential election, officials said on Tuesday, provoking
international condemnation of the attempted closures.
Official letters from the NGO Board - the government-run body that
registers and regulates NGOs - to the Kenya Human Rights Commission
(KHRC) and Africa Centre for Open Governance (AfriCOG) said the two
organizations risked punishment for administrative and tax reasons.
International rights groups Human Rights Watch, Amnesty International
and the United Nations High Commissioner for Human Rights Zeid Ra’ad
Al Hussein urged the government to respect the work of NGOs.
"The High Commissioner called for civil society actors and media to be
allowed to work without hindrance or fear of retaliation," the U.N.
said in a statement from Geneva.
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N.S.E Today |
President Trump broke cover and threw any ambiguity out of the window
with a quite extraordinary Press Conference held at Trump Tower.
Interestingly The Dollar held its own and is becoming more
bullet-proof when it comes to Trump-specific geopolitical risk.
Retails Sales in the US were surprisingly strong.
As I write this I am awaiting the Opposition Leader's Presser. What I
did not notice is that they have decamped from the most expensive Bar
in Nairobi Caramel [I know because I once received my bills with some
astonishment] to a Garden setting and at least whilst I wait i can
hear some birds tweeting.
The Bulls were a little more circumspect today after rallying The All
Share +6.28% since 7th August and the NSE20 Index +7.75% since the
same date in a violent post election bullish Pop and the
circumspection was probably informed by a desire to see what Rabbit
the opposition might pull out of the hat.
The 'We got them'' document increasingly looks to me like a very clever Plant.
The Nairobi All Share retreated -1.13% to close at 166.79.
The Nairobi NSE20 Index corrected -1.085% to close at 4069.34
Equity Turnover topped a billion to register 1.138b.
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N.S.E Equities - Commercial & Services |
Safaricom was the most actively traded share and ticked -2.02% lower
to close at 24.25 but interestingly closed out the session trading at
25.00 +1.01%. Safaricom traded 14.322m shares worth 350.174m and the
trading pattern is corrective suggesting the direction of travel and
momentum is higher.
Kenya Airways firmed 0.99% to close at 5.10 and traded 1.444m shares
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N.S.E Equities - Finance & Investment |
KCB Group eased -1.10% off a 2017 closing High to close at 44.75 and
traded 4.543m shares worth 204.365m. KCB has soared +66.08% on a Total
Return Basis in 2017 outperforming the Benchmark Indices by nearly
200%.
Equity Bank eased -1.13% to close at 43.75 and traded 3.467m shares.
Equity has served up a +52.5% total return through 2017.
COOP Bank firmed +0.29% to close at 17.55 and traded 3.878m shares.
Buyers outpaced Sellers by a Factor of 52 versus 18, which speaks to a
robust Demand side Picture.
DTB firmed +0.53% to close at 190.000 and traded 266,000 shares. DTB
is +63.22% on a Total return Basis in 2017 and recently completed the
acquisition of the Business, Assets and Liabilities of Habib Bank
Limited's Kenya Branches in all share Offer.
Jubilee Insurance bounced +2.35% to close at 479.00 on brisk trading
of 49,100 shares.
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N.S.E Equities - Industrial & Allied |
KenGen corrected -5,64% to close at 9.20 on strong volume action of
6.080m shares. KenGen remains +58.62% in 2017 and I expect it to vault
10.00 going forward. PIC South Africa mopped up all the loose shares
and keep moving the target price higher. The Geothermal Expansion is
very much intact and seriously profitable for KenGen shareholders. The
Accelerated rollout of geothermal capacity expansion slowed [near
term] dividend payments but the compound effect of those returned
earnings will be seriously worthwhile for shareholders.
KPLC which had rallied +35.58% through tis morning corrected -1.35%
off tat 2017 closing high to close at 10.90 and traded 3.073m shares.
KPLC trades on a Trailing PE Ratio of 2.816.
Mumias Sugar rallied +4.00% to close at 1.30 and is now scratch for the Year.
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