[quote=the deal]Find my Analysis here
http://bit.ly/U39czO[/quote]
What is EABLi?
Waragi is NOT a new brand. Yes, for a Namibian but not for a Ugandan (& some Kenyans).
Are you sure your P/NAV is correct? 20.2x seems very high. Shall I buy you a calculator?
The financing costs are high but will drop as interest rates drop in 1H 2012-13. In addition, the cash generation capability is very high. If EABL were to cut back the dividend for 2 years, I think it can pay off most of its (non-working capital) debt.
Tanzania is finding its footing so expect net cash coming from it in 2012-13.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett