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Satchu's Rich Wrap-Up
 
 
Thursday 04th of August 2022
 






These became known as the “halcyon days,” when storms do not occur. Wikipedia has an article on: halcyon days and it reads thus
Misc.

These became known as the “halcyon days,” when storms do not occur. Wikipedia has an article on: halcyon days and it reads thus,
From Latin Alcyone, daughter of Aeolus and wife of Ceyx. When her husband died in a shipwreck, Alcyone threw herself into the sea whereupon the gods transformed them both into halcyon birds (kingfishers).
When Alcyone made her nest on the beach, waves threatened to destroy it. Aeolus restrained his winds and kept them calm during seven days in each year, so she could lay her eggs.
These became known as the “halcyon days,” when storms do not occur. Today, the term is used to denote a past period that is being remembered for being happy and/or successful

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Sunday, April 10, 2022 The moment we find ourselves is in is one of extreme stress and complexity.
Law & Politics

Sunday, April 10, 2022 The moment we find ourselves is in is one of extreme stress and complexity. 
The Geopolitical fault line is most visible in Ukraine and therefore at the European periphery, however, fault lines are emerging all over the global landscape and exhibiting multiple feedback loops, which feedback loops all have viral and exponential characteristics.
 

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Jul 3 It is now clear that no amount of gaslighting can finesse a Ukrainian military rebound from here.
Law & Politics


Jul 3 It is now clear that no amount of gaslighting can finesse a Ukrainian military rebound from here.

It is now clear that no amount of gaslighting can finesse a Ukrainian military rebound from here. 

As mentioned before, I see Russia moving eventually towards Odesa, landlocking Ukraine and only then coming to the Table.

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Taiwan's @iingwen thanks @SpeakerPelosi for support, says island will not back down @Reuters
Law & Politics


Taiwan's @iingwen  thanks @SpeakerPelosi for support, says island will not back down @Reuters 

Tsai also told Pelosi on Wednesday that she is one of Taiwan's most devoted friends and thanked her for her unwavering support on the international stage.

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Strategic context: It's all about the maritime century. In the broadest sense, whether it's the Black Sea or the Taiwan Strait, the key strategic link is between the sea as a space for communication and manoeuvre @alessionaval
Law & Politics


Strategic context: It's all about the maritime century. In the broadest sense, whether it's the Black Sea or the Taiwan Strait, the key strategic link is between the sea as a space for communication and manoeuvre and either can be leverage for political gains:

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This is not just a demonstration, but an actual exercise to liberate Taiwan. Pelosi's visit is bound to speed up China's unification. @HuXijin_GT
Law & Politics


This is not just a demonstration, but an actual exercise to liberate Taiwan. Pelosi's visit is bound to speed up China's unification. @HuXijin_GT

PLA announced it would conduct live-fire exercises in 6 regions surrounding Taiwan island, a situation that surpassed 1996 Taiwan Strait crisis. This is not just a demonstration, but an actual exercise to liberate Taiwan. Pelosi's visit is bound to speed up China's unification.

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1-4-2-1
Law & Politics


1-4-2-1

1-4-2-1. The first 1 refers to defending what has since come to be called the homeland. 

The 4 refers to deterring hostilities in four key regions of the world. 

The 2 means the U.S. armed forces must have the strength to win swiftly in two near-simultaneous conflicts in those regions. 

The final 1 means that we must win one of those conflicts “decisively,” toppling the enemy’s regime.

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How a missile in Kabul connects to a Speaker in Taipei @TheCradleMedia @PepeEscobarPT
Law & Politics


How a missile in Kabul connects to a Speaker in Taipei @TheCradleMedia @PepeEscobarPT 

This is the way the “Global War on Terror” (GWOT) ends, over and over again: not with a bang, but a whimper.

Two Hellfire R9-X missiles launched from a MQ9 Reaper drone on the balcony of a house in Kabul. 

The target was Ayman Al-Zawahiri with a $25 million bounty on his head. 

The once invisible leader of ‘historic’ Al-Qaeda since 2011, is finally terminated.
All of us who spent years of our lives, especially throughout the 2000s, writing about and tracking Al-Zawahiri know how US ‘intel’ played every trick in the book – and outside the book – to find him. 

Well, he never exposed himself on the balcony of a house, much less in Kabul.
Another disposable asset
Why now? Simple. Not useful anymore – and way past his expiration date. H

is fate was sealed as a tawdry foreign policy ‘victory’ – the remixed Obama ‘Osama bin Laden moment’ that won’t even register across most of the Global South

After all, a perception reigns that George W. Bush’s GWOT has long metastasized into the “rules-based,” actually “economic sanctions-based” international order.
Cue to 48 hours later, when hundreds of thousands across the west were glued to the screen of flighradar24.com (until the website was hacked), tracking “SPAR19” – the US Air Force jet carrying House Speaker Nancy Pelosi – as it slowly crossed Kalimantan from east to west, the Celebes Sea, went northward parallel to the eastern Philippines, and then made a sharp swing westwards towards Taiwan, in a spectacular waste of jet fuel to evade the South China Sea.
No “Pearl Harbor moment”
Now compare it with hundreds of millions of Chinese who are not on Twitter but on Weibo, and a leadership in Beijing that is impervious to western-manufactured pre-war, post-modern hysteria.
Anyone who understands Chinese culture knew there would never be a “missile on a Kabul balcony” moment over Taiwanese airspace. 

There would never be a replay of the perennial neocon wet dream: a “Pearl Harbor moment.” That’s simply not the Chinese way.
The day after, as the narcissist Speaker, so proud of accomplishing her stunt, was awarded the Order of Auspicious Clouds for her promotion of bilateral US-Taiwan relations

the Chinese Foreign Minister issued a sobering comment: the reunification of Taiwan with the mainland is a historical inevitability.
That’s how you focus, strategically, in the long game.
What happens next had already been telegraphed, somewhat hidden in a Global Times report. Here are the two key points:
Point 1: “China will see it as a provocative action permitted by the Biden administration rather than a personal decision made by Pelosi.”
That’s exactly what President Xi Jinping had personally told the teleprompt-reading White House tenant during a tense phone call last week. And that concerns the ultimate red line.
Xi is now reaching the exact same conclusion reached by Russian President Vladimir Putin earlier this year: the United States is “non-agreement capable,” and there’s no point in expecting it to respect diplomacy and/or rule of law in international relations.
Point 2 concerns the consequences, reflecting a consensus among top Chinese analysts that mirrors the consensus at the Politburo: 

“The Russia-Ukraine crisis has just let the world see the consequence of pushing a major power into a corner… China will steadily speed up its process of reunification and declare the end of US domination of the world order.”
Chess, not checkers
The Sinophobic matrix predictably dismissed Xi’s reaction to the fact on the ground – and in the skies – in Taiwan, complete with rhetoric exposing the “provocation by American reactionaries” and the “uncivilized campaign of the imperialists.”
This may be seen as Xi playing Chairman Mao. He may have a point, but the rhetoric is pro forma. 

The crucial fact is that Xi was personally humiliated by Washington and so was the Communist Party of China (CPC), a major loss of face – something that in Chinese culture is unforgivable. 

And all that compounded with a US tactical victory.
So the response will be inevitable, and it will be classic Sun Tzu: calculated, precise, tough, long-term and strategic – not tactical. 

That takes time because Beijing is not ready yet in an array of mostly technological domains. 

Putin had to wait years for Russia to act decisively. China’s time will come.
For now, what’s clear is that as much as with Russia-US relations last February, the Rubicon has been crossed in the US-China sphere.
The price of collateral damage
The Central Bank of Afghanistan bagged a paltry $40 million in cash as ‘humanitarian aid’ soon after that missile on a balcony in Kabul.
So that was the price of the Al-Zawahiri operation, intermediated by the currently US-aligned Pakistani intelligence agency, the Inter-Services Intelligence (ISI). So cheap.
The MQ-9 Reaper drone carrying the two Hellfire R9X that killed Al-Zawahiri had to fly over Pakistani airspace – taking off from a US base in the Persian Gulf, traversing the Arabian Sea, and flying over Balochistan to enter Afghanistan from the south. 

The Americans may have also got human intelligence as a bonus.
A 2003 deal, according to which Islamabad facilitates air corridors for US military flights, may have expired with the American withdrawal debacle last August, but could always be revived.
No one should expect a deep dive investigation on what exactly the ISI – historically very close to the Taliban – gave to Washington on a silver platter.
Dodgy dealings
Cue to an intriguing phone call last week between the all-powerful Chief of Staff of the Pakistani Army, Gen Qamar Javed Bajwa, and US deputy Secretary of State Wendy Sherman.

 Bajwa was lobbying for the International Monetary Fund (IMF) to release a crucial loan at the soonest, otherwise Pakistan will default on its foreign debt.
Were deposed former Prime Minister Imran Khan still in power, he would never have allowed that phone call.
The plot thickens, as Al-Zawahiri’s Kabul digs in a posh neighborhood is owned by a close advisor to Sirajuddin Haqqani, head of the “terrorist” (US-defined) Haqqani network and currently Taliban Interior Minister. 

The Haqqani network, needless to add, was always very cozy with the ISI.
And then, three months ago, we had the head of ISI, Lieutenant General Nadeem Anjum, meeting with Biden’s National Security Advisor  Jake Sullivan in Washington – allegedly to get their former, joint, covert, counter-terrorism machinery back on track.
Once again, the only question revolves around the terms of the “offer you can’t refuse” – and that may be connected to IMF relief. 

Under these circumstances, Al-Zawahiri was just paltry collateral damage.
Sun Tzu deploys his six blades
Following Speaker Pelosi’s caper in Taiwan, collateral damage is bound to multiply like the blades of a R9-X missile.
The first stage is the People’s Liberation Army (PLA) already having engaged in live fire drills, with massive shelling in the direction of the Taiwan Strait out of Fujian province.
The first sanctions are on too, against two Taiwanese funds. 

Export of sable to Taiwan is forbidden; sable is an essential commodity for the electronics industry – so that will ratchet up the pain dial in high-tech sectors of the global economy.
Chinese CATL, the world’s largest fuel cell and lithium-ion battery maker, is indefinitely postponing the building of a massive $5 billion, 10,000-employee factory that would manufacture batteries for electric vehicles across North America, supplying Tesla and Ford among others.
So the Sun Tzu maneuvering ahead will essentially concentrate on a progressive economic blockade of Taiwan, the imposition of a partial no-fly zone, severe restrictions of maritime traffic, cyber warfare, and the Big Prize: inflicting pain on the US economy.
The War on Eurasia
For Beijing, playing the long game means the acceleration of the process involving an array of nations across Eurasia and beyond, trading in commodities and manufactured products in their own currencies. 

They will be progressively testing a new system that will see the advent of a BRICS+/SCO/Eurasia Economic Union (EAEU) basket of currencies, and in the near future, a new reserve currency.
The Speaker’s escapade was concomitant to the definitive burial of the “war on terror” cycle and its metastasis into the “war on Eurasia” era.
It may have unwittingly provided the last missing cog to turbo-charge the complex machinery of the Russia-China strategic partnership. 

That’s all there is to know about the ‘strategic’ capability of the US political ruling class. 

And this time no missile on a balcony will be able to erase the new era.

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Gas prices for end-users in Germany almost tripled in a year - Bild @DagnyTaggart369
Law & Politics


Gas prices for end-users in Germany almost tripled in a year - Bild @DagnyTaggart369

At the current gas price, the annual cost for the average German family is over 3,500 euros. Costs in August 2021, were around 1.300 euros.

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May 29 Vanity of Vanities! All is vanity
Law & Politics



May 29 Vanity of Vanities! All is vanity

In the same article Cummings continues
Blofeld: Kronsteen, you are sure this plan is foolproof?
Kronsteen: Yes it is, because I have anticipated every possible variation of counter-move.
Politics therefore suffers from a surfeit of narcissists.
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.
The MPs and spin doctors steer their priorities according to the rapidly shifting sands of the pundits who they are all spinning, while the pundits shift (to some extent unconsciously) according to the polls.
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. 
Layer on top of this a highly managed media construct which is essentially a Claque where alternative voices are deplatformed and we have an environment which was accurately described thus by @FukuyamaFrancis
The democratization of authority spurred by the digital revolution has flattened cognitive hierarchies along with other hierarchies, and political decision-making is now driven by often weaponized babble.
At a time when what is required is agile multi disciplinary thinking we have ''weaponized babble''


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Voodoo Economics
World Of Finance

Voodoo Economics’’
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”’’ 

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Jul 24 When I was a lot younger we used to play a Game called ''Red Eye''
World Of Finance


Jul 24 When I was a lot younger we used to play a Game called ''Red Eye'' 

Everyone gets a card and everyone else's card is visible to you except your own. And you bet on that basis. 

The Question is whether if this were a Game of Red Eye and the market has now seen that Powell and Lagarde are holding the 2 of spades and that this hiking cycle is near done. 

If that is the case, the Yen is a screaming Buy and the Dollar a Big Sell.

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Currency Markets at a Glance WSJ
World Currencies


Currency Markets at a Glance WSJ

Euro 1.016410
Dollar Index 106.391
Japan Yen 134.065
Swiss Franc 0.961305
Pound 1.215030
Aussie 0.696265
India Rupee 79.4355
South Korea Won 1311.460
Brazil Real 5.2835000
Egypt Pound 19.077400
South Africa Rand 16.757800

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Biggest global recession trade is the Japan's Yen. Yen strength is coming...@RobinBrooksIIF
World Of Finance


Biggest global recession trade is the Japan's Yen. Yen strength is coming...@RobinBrooksIIF 

Biggest global recession trade is the Japan's Yen. The BoJ locked monetary policy in place with YCC. If other central banks now turn more dovish, that moves rate differentials in favor of the Yen, much like in 2008 and 2020. Global recession is coming. Yen strength is coming...

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Biggest global recession trade is the Japan's Yen. Yen strength is coming...@RobinBrooksIIF
World Currencies


Biggest global recession trade is the Japan's Yen. The BoJ locked monetary policy in place with YCC. If other central banks now turn more dovish, that moves rate differentials in favor of the Yen, much like in 2008 and 2020. Global recession is coming. Yen strength is coming...

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One thing that we don’t discuss enough is this new breed of inter African migrant. A type of migrant far more common than Africans who leave the continent. It’s an understated trend. @Kdenkss
Africa


One thing that we don’t discuss enough is this new breed of inter African migrant. A type of migrant far more common than Africans who leave the continent.  It’s an understated trend. @Kdenkss

One thing that we don’t discuss enough is this new breed of inter African migrant. A type of migrant far more common than Africans who leave the continent. Togolese carpenters in Lagos, South Sudanese mechanics in Nairobi, Ethiopian merchants in JoBurg. It’s an understated trend.

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Zambian Kwacha Surges as @IMFNews Deal and Debt Relief Draw Closer @markets
Africa


Zambian Kwacha Surges as @IMFNews  Deal and Debt Relief Draw Closer @markets 

Zambia’s currency advanced to its strongest level since September after official creditors agreed to provide financing assurances the nation needs to secure final approval from the International Monetary Fund for a $1.3 billion bailout.

The kwacha gained by as much as 2.4% to 15.975 against the dollar on Tuesday, making it the second-best performing currency of those tracked by Bloomberg

Its $1 billion of eurobonds due 2024 advanced for a 10th straight day, rising as much as 0.3% to 60.9 cents on the dollar.

Zambia became Africa’s first pandemic-era sovereign defaulter in November 2020. 

A commitment from the nation’s bilateral creditors committee on July 30 to negotiate a restructuring of their debts cleared the way for the IMF board to approve an economic program for Zambia by as early as September, according to the Washington-based lender.
Final IMF approval “could unlock further financing from other development partners and provide a policy anchor for the government’s reforms,” S&P Global Ratings said in a statement Tuesday. 
Hakainde Hichilema, whose government won power almost a year ago, has made reworking the nation’s external loans a top priority.

 Dollar debt, including arrears and state-owned company liabilities, rose to $17.3 billion by the end of last year. 

The nation is seeking to rework its debt under the Group of 20 most powerful nations’ so-called Common Framework. 

China and France are co-chairing Zambia’s official bilateral creditors committee. 

Private lenders will be required to provide relief at least as favorable as the bilateral creditors.
Zambia’s Finance Ministry will hold a call with bondholders on Wednesday to update them on the planned restructuring, according to a statement.

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This is all thanks to the Zambian Youth. We knew that if we didn’t act and vote in a better leader, many of us would be forced to leave our country because it would have gone to hell. @DonCorleANN
Africa


This is all thanks to the Zambian Youth. We knew that if we didn’t act and vote in a better leader, many of us would be forced to leave our country because it would have gone to hell. But this doesn’t mean we won’t hesitate to vote out the new government should they fxxk us over.

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We are not allegiant to any political party or president. Quality life and respect for human rights is all we seek. What this has taught us is how much power we have and what we can do when we come together. @DonCorleANN
Africa


We are not allegiant to any political party or president. Quality life and respect for human rights is all we seek. What this has taught us is how much power we have and what we can do when we come together. @DonCorleANN

We are not allegiant to any political party or president. Quality life and respect for human rights is all we seek. What this has taught us is how much power we have and what we can do when we come together. Voter apathy only serves corrupt leaders.

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Low-Income Nations Turn to Risky Bank Loans @WSJ
Africa


Low-Income Nations Turn to Risky Bank Loans @WSJ 


Fragile developing nations frozen out of global bond markets have turned to an old—and some say risky—source of money to plug budget gaps: syndicated loans.
Kenya and Ghana, buffeted by high commodity prices and surging borrowing costs, are among the countries that have said they won’t be able to issue foreign-currency bonds this year. 

They would instead borrow using syndicated loans, a type of direct lending from big commercial banks.
They join more than a dozen governments across Africa and the Middle East that have taken out syndicated loans worth about $13 billion this year through June, according to a Standard Chartered analysis of Dealogic data. 

That is nearly double the $6.7 billion in the same period last year.
In July, no emerging-market government issued any foreign-currency bonds worldwide, according to research firm Tellimer. 

That is the most significant drought in financing since the “taper tantrum” of 2013, when fears over the withdrawal of the U.S. Federal Reserve’s easy-money policies sent global markets into a tailspin.

“Countries that find themselves shut out of the bond market, they’re coming to us and asking what’s possible in the loan market,” said Charles Corbett, managing director in the Africa financing solutions team at Standard Chartered.

Syndicated loans, which are pooled among a group of lenders, were the dominant source of private foreign funding for emerging markets until the Latin American debt crisis of the 1980s. 
Burned by lengthy restructurings, banks stepped back from financing developing nations’ budgets—though they continued to lend for trade and infrastructure projects. 

Governments, meanwhile, turned to bond markets, which promised greater transparency and lower costs.
That has changed this year. Sky-high bond yields have made bank loans appear relatively cheap.
The shift toward syndicated loans comes as the weakest developing markets face increased risks of debt problems spinning out of control, as they have in Sri Lanka and Zambia. 

Roughly 60% of low-income countries are in or at risk of debt distress, according to the International Monetary Fund, indicating an imminent need for restructuring. 
Tighter monetary policy from the Fed has sapped investor demand for high-risk assets such as emerging-market bonds. 

The U.S. dollar is the strongest it has been in decades, making it more expensive for developing countries to pay back debts in the U.S. currency. 

Higher commodity prices in the wake of the war in Ukraine have fallen disproportionately hard on developing economies, where a greater share of income is spent on food.
Kenya dropped plans to issue a roughly $1 billion foreign bond in June and is now working to secure a syndicated loan from banks. 

The government said it faces an estimated budget gap of $7 billion this fiscal year, driven in part by spending on subsidized fuel for consumers.
“It’s been a shock that [Kenya is] pivoting back to syndicated loans,” said Churchill Ogutu, a Kenya-based economist at the African bank IC Group. 

“The feeling is that with syndicated loans, they have been quite opaque,” he said, since governments often don’t publish as much detail about the borrowings as they do with bonds. 
Syndicated loans also are often shorter-term than bonds, with many lasting for around five years. 

And unlike bonds, which tend to have fixed rates, borrowing costs on syndicated loans march in lockstep with the Fed, whose rates are rising at the fastest pace in decades. 
Mr. Ogutu estimates Kenya would pay an interest rate of between 5% and 7%, plus an interest rate benchmark known as SOFR, or the secured overnight financing rate. 

That rate was at 2.27% Friday and would rise further as the Fed continues to boost borrowing costs.
Even if rates rise further, that might still be below what Kenya would have to pay to sell bonds, but it will likely have to pay the money back sooner. 

The yield on an existing Kenyan government U.S. dollar bond maturing in 2032 was at around 14% on Friday, according to AdvantageData.
Ghana also has been effectively shut out of global bond markets this year as yields on its foreign debt topped 20%. 

The West African nation is negotiating a bailout with the IMF and recently approved a $750 million loan from the African Export-Import Bank.
To shore up its foreign-exchange reserves and to fund road, health and other infrastructure projects, the government also is seeking parliamentary approval for a $250 million syndicated loan from commercial banks. 

That five-year loan would carry an interest rate of 6.85%, plus SOFR, according to a June Ministry of Finance memorandum.
The finance ministries of Kenya and Ghana didn’t respond to requests for comment.
Analysts warn countries turning to syndicated loans could end up with larger problems in the coming years. 

Many developing countries face huge debt repayments before the end of the decade. 

Taking out shorter-term loans raises the risk countries will struggle to roll over or refinance that pile of debt.
“The terms [of syndicated loans] could be quite expensive given the short maturity and floating rate,” said Moody’s Investors Service senior analyst David Rogovic. 
Syndicated loan bankers argue that loans are more flexible than bonds—with ranging tenors, security requirements, and repayment conditions—which makes it easier to manage the risk for the banks. 

It has also become more common for at least part of loans to be guaranteed by a richer country’s export-credit agency or credit insurance.
But it isn’t without risk. Banks hold the loans directly on their balance sheets, with the amount split between several or even a dozen or more banks or financial institutions. Their profitability could take a hit if borrowers do fail to pay. 
An emerging-market syndicated loan boom in the 1970s preceded the Latin American debt crisis of the 1980s. 

Back then, a surge in oil prices flooded banks with petrodollars—which they lent on to emerging-market governments, particularly in Latin America.
The debt binge unraveled in the early 1980s as double-digit inflation led then-Fed Chairman Paul Volcker to push benchmark lending rates to nearly 20%. 

Emerging-markets loan costs—linked to the Fed’s rate—skyrocketed, forcing dozens of governments into restructuring. Eventually, under the so-called Brady Plan, banks agreed to forgive about $60 billion in debt.
The surge in activity is limited compared with the size of bank balance sheets but is rekindling old worries.
“Even if the bankers themselves may have forgotten the existential threat they faced in the 1980s as a result of their excessive lending to emerging-market sovereigns, their regulators may not have,” said Lee Buchheit, a veteran sovereign-debt lawyer who advised many of the countries who went through restructurings in the 1980s and ‘90s.
“History teaches one inescapable lesson—whichever creditor group becomes the dominant lender to emerging-market sovereigns will, in a few years time, become the dominant sovereign debt restructurer.”

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.@VodafoneGroup Kenya Partner @SafaricomPLC to Revamp Structure to Spur Expansion @Vodacom @business @bgenga
N.S.E Equities - Commercial & Services


.@VodafoneGroup Kenya Partner @SafaricomPLC to Revamp Structure to Spur Expansion @Vodacom @business @bgenga 

Safaricom Plc, the Kenyan mobile-phone company that counts Vodafone Group Plc as its biggest investor, plans to revamp its corporate structure in the next two years to make it easier for it to expand abroad.
East Africa’s largest company by market value seeks to convert into a holding firm that will house mobile-phone towers and its financial services businesses, which will also become wholly-owned units, Chief Executive Officer Peter Ndegwa said in an interview.
The revamped structure will improve transparency about the company’s various businesses and may help to ease regulatory hurdles. 

This month, Safaricom is scheduled to begin operations in Ethiopia, and is awaiting approval to offer its mobile-money service M-Pesa in Africa’s second-most populated nation.
The change is so that “we run the businesses in a more sustainable way,” Ndegwa said Monday in Nairobi. 

“We will continue to evolve the organization and then also look for skills that allow us to run these specific divisions,” he said, adding that they may look for investors at some point for its units “but that’s not the primary driver.”
Safaricom’s shares, which have dropped 22% this year, advanced 2.1% in Nairobi on Tuesday.

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@SanlamKenya reports FY 2022 Loss after Tax [287.746m] Earnings
N.S.E Equities - Finance & Investment


@SanlamKenya reports FY 2022 Loss after Tax [287.746m] Earnings


Par Value:                  5/-
Closing Price:           11.70
Total Shares Issued:          144000000.00
Market Capitalization:        1,684,800,000
EPS:             -1.71
PE:          

Sanlam Kenya reports FY 22 Earnings through 30th June 2022 versus 30th June 2021

FY Total Income 5.664278b versus 5.934140b

FY Gross written premium 5.385063b versus 5.921865b

FY Net earned premiums 4.642257b versus 4.3988794b

FY Investment and other Income 1.022020b versus 1.535346b

FY Net claims and policyholder benefits [4.244922b] versus [4.083338b]

FY Operating and other expenses [1.479943b] versus [1.793136b]

FY Finance costs [224.343m] versus [280.621m]

FY TotaL benefits, claims and other expenses [5.949208b] versus [6.157095b]

FY Loss before Tax [284.93m] versus [222.955m]

FY Loss after Tax [287.746m] versus [291.857m]

FY EPS [1.71] versus [2.09] 

FY Cash resources at end of period 2.257198b versus 1.706910b

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