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Jan Schalkwijk, CFA  

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  • MiX Telematics: Software-As-A-Service At An African Discount [View article]
    FLTX has a gross churn rate shy of 9%. FLTX does not disclose non-renewal rates. I imagine you take the 9% up a few points to get to non-renewal rate. Let's say they are in the same league as MIXT on this metric. FLTX is a solid co and competitor, but pricy too.
    Jun 26, 2015. 12:41 PM | 1 Like Like |Link to Comment
  • MiX Telematics: Software-As-A-Service At An African Discount [View article]
    That's a legitimate concern - and I share it - though I don't think at the current price it is completely baking in an acquisition.
    Jun 22, 2015. 01:05 PM | Likes Like |Link to Comment
  • MiX Telematics: Software-As-A-Service At An African Discount [View article]
    Yes, they are in the same space. I think consolidation is possible because many of the SaaS cos have inflated stock prices, which are good currency to buy quality assets with; especially if they are denominated in rand or other depressed currencies. I think the Digicore transaction values Digicore right around 1.3-1.5x EV/Sales. MIXT is in that range, but arguably a better asset. I think the buyout possibility is a nice icing on the cake, but I like the story regardless.
    Jun 19, 2015. 04:04 PM | 4 Likes Like |Link to Comment
  • Where Is Africa's Technology Sector? [View article]
    Agreed. Great company; misunderstood, in my opinion.
    Jun 5, 2015. 10:24 AM | 1 Like Like |Link to Comment
  • Nigeria's Perfect Storm? [View article]
    I am not much of an expert in oil and gas, so I don't have an opinion on Mart. In our portfolios at Africa Capital Group we mostly focus on consumer, financial, infrastructure, i.e. "the domestic economy".
    Nov 5, 2014. 02:10 PM | Likes Like |Link to Comment
  • Weak African Rand Spells Opportunity [View article]
    Portugal Telecom holds a 25% stake in Unitel in Angola, 34% in MTC in Namibia, 40% in CVT in Cape Verde, and 51% stake in CST in Sao Tome.
    Aug 8, 2013. 12:13 PM | 1 Like Like |Link to Comment
  • Rent This EV Stock And Enjoy The Ride, But Don't Keep It Too Long [View article]
    "The only compliment I have received from my critics – though meant as an insult – was 'the author does not seem entirely certain about his own conclusions' and I hold this compliment most dearly. "- Charles Sanders Peirce, American philosopher, logician, mathematician, and scientist.
    Jun 11, 2013. 12:59 PM | 3 Likes Like |Link to Comment
  • EU, China Solar Talks Fall Apart: What's Next? [View article]
    Europe should play nice. China is a must bigger market for solar going forward than Europe and there are opportunities across the value chain for European companies to participate (though it is not the manufacturing of panels; which will go to the Chinese).
    May 29, 2013. 12:19 PM | Likes Like |Link to Comment
  • Banking On Kenyan Banks - Conservative Ratios And Stellar Growth [View article]
    Political unrest can certainly be a headwind. At some level it is business as usual too though. I think managing in challenging inflation environments is more difficult than managing to political uncertainty, which is more of a constant. That's my anecdotal 2 cents; it would be interesting to run a correlation on banks stock returns and political uncertainty, but it is hard to isolate that factor...
    May 14, 2013. 04:29 PM | 2 Likes Like |Link to Comment
  • Banking On Kenyan Banks - Conservative Ratios And Stellar Growth [View article]
    Thanks H.J. The trends look favorable in the Kenyan banking sector. Valuations reflect that, but for long-term investors I think the entry point is still reasonable. Perhaps initiating a partial position and waiting for some unfavorable macro news makes sense.
    May 13, 2013. 05:02 PM | 2 Likes Like |Link to Comment
  • Western Wind & Brookfield: Time To Declare Victory And Go Home [View article]
    He has unlimited funds to sue you...wow. Certainly wouldn't want to be long and avail him of said unlimited funds. Way to go Tom!
    Feb 15, 2013. 03:10 PM | 3 Likes Like |Link to Comment
  • The World Bank's IFC Investment Arm In Emerging And Frontier Markets: What We Can Learn [View article]
    Very insightful interview Jon. Thanks for doing this. Any IFC contacts you might have for me in Kenya? I will be going there in March.
    Jan 24, 2013. 07:30 PM | 5 Likes Like |Link to Comment
  • Do Africa Funds Provide Access To African Growth? [View article]
    Thanks Jon. I look forward to reading the blog posts!
    Dec 24, 2012. 02:40 PM | 1 Like Like |Link to Comment
  • Do Africa Funds Provide Access To African Growth? [View article]
    I appreciate your comments. Market Vectors Africa Index ETF (AFK) probably comes closest in terms of having meaningful sub-Saharan Africa (SSA) exposure. Its SSA weight excluding Mining, and Oil is 43%. Note that if you also exclude South Africa, you are down to 21% exposure with that fund. Unfortunately, its consumer weight is only about 8%. Most of the fund's non-natural resource assets are tied up in Financial Services (40%) and Telcos (16%). To truly capture the consumer space for US investors one would have to supplement any ETF exposure with individual stocks.
    Dec 24, 2012. 02:37 PM | 2 Likes Like |Link to Comment
  • Do Africa Funds Provide Access To African Growth? [View article]
    Thanks Jon, keep us apprised of your coverage!
    Dec 13, 2012. 01:11 PM | 1 Like Like |Link to Comment
COMMENTS STATS
25 Comments
30 Likes