Kenya’s economy overtook
those of Tunisia and Ghana after the statistics agency
overhauled its data to
increase the size of gross
domestic product by a
quarter.
GDP was measured at $55.2
billion last year from $44.1
billion previously, Zachary
Mwangi, acting director-
general of the statistics
agency, told reporters in the capital, Nairobi.

That compares with the World Bank’s estimates of $48 billion for Ghana and $47
billion for Tunisia. Kenya revised its data to
take account of expanding
industries such as mobile-
phone money transfers and
informal businesses, while
also changing the base year of the figures to 2009 from
2001.
Last year’s growth
rate was adjusted to 5.7
percent from 4.7 percent,
Mwangi said. “The rebased GDP estimates
put Kenya among the lower middle-income nations,”
Planning Secretary Anne
Waiguru told reporters.

The
data “demonstrates that the
economy is larger, but
doesn’t mean that people are less poor or wealthier
than they were yesterday,”
she said. The shilling fell 0.3 percent
to 89.35 against the dollar as
of 1:47 p.m. in Nairobi after
earlier strengthening to
89.15 following the
publication of the data. Borrowing Costs An increase in the size of
GDP will help to lower
Kenya’s debt ratios,
improving the nation’s
ability to borrow. It may
also reduce Kenya’s access to low interest-rate loans,
although the World Bank
and International Monetary Fund have said the move won’t close off Kenya’s
access to concessional funds. The rebasing “makes it more
attractive as a country in Africa that can raise local currency debt and US-dollar
dominated debt,” Angus
Downie, head of economic
research at Ecobank
Transnational Inc., said by
phone today from London. “Kenya as an investment
looks more appealing” with
budget and current-account
deficit ratios improving, he
said. The parliamentary budget
office estimates the fiscal
gap at 8 percent of GDP in
the year through June 2015. Kenya follows Nigeria, which earlier this year
rebased its GDP data to
overtake South Africa as the largest economy in
Africa, estimated at about
$500 billion.

Tanzania, East Africa’s
second-largest economy
after Kenya, plans to revise
its GDP data later this year,
which may increase the size
of the $33 billion economy by a fifth.

Tourism Slump

“The GDP rebasing exercise
in Kenya will provide a
much needed boost to the
Kenyan economy as the
government tries to spur
economic growth in light of the challenges facing its
important tourism industry,” Ahmed Salim, a Dubai-based senior associate
at risk-advisory group
Teneo Intelligence, said in an
e-mailed response to
questions. Growth in Kenya may
moderate to as low as 5
percent this year, according
to the government, down
from a previous estimate of
5.8 percent because of a drop in tourism revenue
following a series of gun
and grenade attacks in the
country. Even after the recalculation,
the economy still faces wide
economic disparities and
social inequalities, Salim said.
Almost four out of 10
Kenyans live in poverty , according to the World Bank. GDP per capita was estimated at $1,246 after the
rebasing, according to the
statistics agency. Kenya is the world’s biggest
exporter of black tea and it
supplies a third of the
flowers traded in Europe.

http://mobile.bloomberg.com/news/2014-09-30/kenya-overtakes-ghana-tunisia-as-size-of-economy-climbs-by-25-.html

http://m.bbc.com/news/business-29426575?ocid=socialflow_facebook

Two words : copy copy!!

amiskurie: Two words : copy copy!!

lol...who is copying here? Me or Kenya?

Please what's dere population size and foreign exchange ratio against the U.S. dollar.

I see you wrote 0.3 to 89.5ish.

I need clarity on dat.

Silkmoth33: Please what's dere population size and foreign exchange ratio against the U.S. dollar.

I see you wrote 0.3 to 89.5ish.

I need clarity on dat.

http://data.worldbank.org/country/kenya

1 USD = 89.3000 KES

[size=13pt]Over to those janjaweeeds APC children of anger.
What do they have to say about this?[/size]

Goddex: [size=13pt]Over to those janjaweeeds APC children of anger.
What do they have to say about this?[/size]

sorry bro,what has APC got to do with this?

The GDP of southern Africa's power house (SA), plus that of the East Africa's (Kenya), combined with that of Ghana is still lesser than Nigeria's GDP

Naija, truly the Giant of Africa
Ain't easy.

Never knew Ghana had a higher GDP over Kenya.

Nigeria leads, other copy.

Thank God for Kenya,

PaulJohn1: The GDP of southern Africa's power house (SA), plus that of the East Africa's (Kenya), combined with that of Ghana is still lesser than Nigeria's GDP

Naija, truly the Giant of Africa
Ain't easy.

Never knew Ghana had a higher GDP over Kenya.

How the gdp translates in to the betterment of the people is what matters.. Quality and not quantity

overhypedsteve: Thank God for Kenya,

Sorry wrong post

Goddex: [size=13pt]Over to those janjaweeeds APC children of anger.
What do they have to say about this?[/size]

What does this have to do with apc

phantonce: Nigeria leads, other copy.

If u know one or two on financial dealings u won't say such.. Every country will re braise at one point or the other.. So its not the case of copying

.

iamord:

Sorry wrong post

confused ghanian Drug addict, yea its the wrong post, maybe if you would stay away from drug a little you will start posting the right post

[quote author=iamord]

How the gdp translates in to the betterment of the people is what matters.. Quality and not quantity[/quote

As military analysts oftentimes say when comparing the US and China, "Quantity has a whole new Quality of it's own".Size kind of does matter.

[quote author=EMANY01][/quote]

Rather than make emphasis on gdp ..struggle to build an institution.. A lot of this countries don't have money up to nigeria .. But better institutions and infrastructures are in place.. that alone gives them an edge ..and slowly but steady they are climbing..

overhypedsteve: confused ghanian Drug addict, yea its the wrong post, maybe if you would stay away from drug a little you will start posting the right post

So in your dead mind u just tried to diss..clap for yourself!!

iamord:

Rather than make emphasis on gdp ..struggle to build an institution.. A lot of this countries don't have money up to nigeria .. But better institutions and infrastructures are in place.. that alone gives them an edge ..and slowly but steady they are climbing..

and Nigeria is regressing or what?

PaulJohn1: The GDP of southern Africa's power house (SA), plus that of the East Africa's (Kenya), combined with that of Ghana is still lesser than Nigeria's GDP

Naija, truly the Giant of Africa
Ain't easy.

Never knew Ghana had a higher GDP over Kenya.

Quality is better than Quantity.
South Africa is a healthy muscular athlete while Nigeria is an unhealthy kid who pushes his weight around.
Giant of Africa My Foot!!
Nigeria's Electricity production at its peak is 6,000 MW
South Africa stands at 45,000 MW.
Nigeria is the only nation I have heard of where Power production rises and falls.
Kenya,Egypt and S.A have constant power production.The only issues are surges in high density areas(Kenya,Egypt) ageing Infrastructure(Western Kenya) and extremely high demmand(S.A) otherwise,you will not find production fluctuations on the scale of Nigeria.
A visit to Johannesburg Cairo and Nairobi.
No running generators in any neighbourhood.
While Nigeria has towns that get only 6 hours of power a day. Kenya gets only 45 blackouts averaging 3 hours a year.This is an average with Northern and Western Kenya as well as Eastern Nairobi getting the most blackouts while Central Kenya and Eastern Kenya as well as the Coast and Western Nairobi getting the least. Universities get 3 blackouts lasting 6 hours a year for maintenance.
South Africa used to get less than 20 blackouts but these days they have increased.
Manufacturing.South Africa and Egypt are by far the leaders.Both Kenya and Nigeria have issues with Manufacturing but Nigeria has worse.mainly due to power supply (Nigeria) Kenya is more of Power cost.The difference is how the two tackled their power problem.Nigeria comtinues with power issues while Kenya already reduced the cost of power by 30% in September as it added cheaper geothermal power.
Nigerian supermarkets are dominated by South African brands while Kenyan and South African supermarkets are dominated by local brands (or international brands that manufacture locally).
One interesting part.Despite a large population.Nigeria boasts of only 2 properly fuctioninge vehicle assembling plants ;Nissan and Peugeot.
South Africa has Toyota BMW Mercedes GM Nissan Renault and Volkswagen
Kenya has Toyota (3 plants and an Academy.The first of its kind in Africa) Hino GM Foton Mobius and and local assemblers Thika Motors(Hyundai) Marshalls East Africa Car and General. CMC and Associated Motors.
Toyota has a strong history in S.A and Kenya.It arrived in S.A in 1961 and Kenya in 1967 and has been the dominant brand in both nations. (Except in Kenya between 2010 and 2013) since then.
This is the time Toyota is thinking of an Assembly plant in Nigeria?Despite being the top brand there tooI presume all Toyota vehicles were being imported from S.A with Japanese Engines,South African spare parts and Kenyan bodies.
Shows how bad your manufacturing sector is!!!

GERALD710:
Quality is better than Quantity.
South Africa is a healthy muscular athlete while Nigeria is an unhealthy kid who pushes his weight around.
Giant of Africa My Foot!!
Nigeria's Electricity production at its peak is 6,000 MW
South Africa stands at 45,000 MW.
Nigeria is the only nation I have heard of where Power production rises and falls.
Kenya,Egypt and S.A have constant power production.The only issues are surges in high density areas(Kenya,Egypt) ageing Infrastructure(Western Kenya) and extremely high demmand(S.A) otherwise,you will not find production fluctuations on the scale of Nigeria.
A visit to Johannesburg Cairo and Nairobi.
No running generators in any neighbourhood.
While Nigeria has towns that get only 6 hours of power a day. Kenya gets only 45 blackouts averaging 3 hours a year.This is an average with Northern and Western Kenya as well as Eastern Nairobi getting the most blackouts while Central Kenya and Eastern Kenya as well as the Coast and Western Nairobi getting the least. Universities get 3 blackouts lasting 6 hours a year for maintenance.
South Africa used to get less than 20 blackouts but these days they have increased.
Manufacturing.South Africa and Egypt are by far the leaders.Both Kenya and Nigeria have issues with Manufacturing but Nigeria has worse.mainly due to power supply (Nigeria) Kenya is more of Power cost.The difference is how the two tackled their power problem.Nigeria comtinues with power issues while Kenya already reduced the cost of power by 30% in September as it added cheaper geothermal power.
Nigerian supermarkets are dominated by South African brands while Kenyan and South African supermarkets are dominated by local brands (or international brands that manufacture locally).
One interesting part.Despite a large population.Nigeria boasts of only 2 properly fuctioninge vehicle assembling plants ;Nissan and Peugeot.
South Africa has Toyota BMW Mercedes GM Nissan Renault and Volkswagen
Kenya has Toyota (3 plants and an Academy.The first of its kind in Africa) Hino GM Foton Mobius and and local assemblers Thika Motors(Hyundai) Marshalls East Africa Car and General. CMC and Associated Motors.
Toyota has a strong history in S.A and Kenya.It arrived in S.A in 1961 and Kenya in 1967 and has been the dominant brand in both nations. (Except in Kenya between 2010 and 2013) since then.
This is the time Toyota is thinking of an Assembly plant in Nigeria?Despite being the top brand there tooI presume all Toyota vehicles were being imported from S.A with Japanese Engines,South African spare parts and Kenyan bodies.
Shows how bad your manufacturing sector is!!!

You forgot Innoson which is presently more functional than Nissan.

You also did not consider the large numbers of SMEs which is Nigeria's strong point and what fuels growth in developing countries.

I think power is Nigeria's greatest deterrent to industrial growth which you have done well to point out.

2ndOGA: Well at least Ghana overtook Jamaica in the weed department. So they're still progressing, no?

Why bring Ghana into this?

GERALD710:
Quality is better than Quantity.
South Africa is a healthy muscular athlete while Nigeria is an unhealthy kid who pushes his weight around.
Giant of Africa My Foot!!
Nigeria's Electricity production at its peak is 6,000 MW
South Africa stands at 45,000 MW.
Nigeria is the only nation I have heard of where Power production rises and falls.
Kenya,Egypt and S.A have constant power production.The only issues are surges in high density areas(Kenya,Egypt) ageing Infrastructure(Western Kenya) and extremely high demmand(S.A) otherwise,you will not find production fluctuations on the scale of Nigeria.
A visit to Johannesburg Cairo and Nairobi.
No running generators in any neighbourhood.
While Nigeria has towns that get only 6 hours of power a day. Kenya gets only 45 blackouts averaging 3 hours a year.This is an average with Northern and Western Kenya as well as Eastern Nairobi getting the most blackouts while Central Kenya and Eastern Kenya as well as the Coast and Western Nairobi getting the least. Universities get 3 blackouts lasting 6 hours a year for maintenance.
South Africa used to get less than 20 blackouts but these days they have increased.
Manufacturing.South Africa and Egypt are by far the leaders.Both Kenya and Nigeria have issues with Manufacturing but Nigeria has worse.mainly due to power supply (Nigeria) Kenya is more of Power cost.The difference is how the two tackled their power problem.Nigeria comtinues with power issues while Kenya already reduced the cost of power by 30% in September as it added cheaper geothermal power.
Nigerian supermarkets are dominated by South African brands while Kenyan and South African supermarkets are dominated by local brands (or international brands that manufacture locally).
One interesting part.Despite a large population.Nigeria boasts of only 2 properly fuctioninge vehicle assembling plants ;Nissan and Peugeot.
South Africa has Toyota BMW Mercedes GM Nissan Renault and Volkswagen
Kenya has Toyota (3 plants and an Academy.The first of its kind in Africa) Hino GM Foton Mobius and and local assemblers Thika Motors(Hyundai) Marshalls East Africa Car and General. CMC and Associated Motors.
Toyota has a strong history in S.A and Kenya.It arrived in S.A in 1961 and Kenya in 1967 and has been the dominant brand in both nations. (Except in Kenya between 2010 and 2013) since then.
This is the time Toyota is thinking of an Assembly plant in Nigeria?Despite being the top brand there tooI presume all Toyota vehicles were being imported from S.A with Japanese Engines,South African spare parts and Kenyan bodies.
Shows how bad your manufacturing sector is!!!

While you made few points, many of your assertions ain't true. You know little about the present day Nigeria. I believe your facts and figures about Nigeria are outdated, just like we never knew Nigeria's economy dwarfed that of SA years back, because the GDP figure we relied on was outdated, but we got to know just this year when a new GDP figure was released by the bodies in charge of the calculation.

While I mostly have a minimum of 22hrs of power supply a day where in reside in Nigeria, you still hold onto the outdated fact that most places in Nigeria have 6hrs power in a day.

Another one is your view that Nigeria has just two functioning vehicle assembling plants. This assertion would have been true seven years back, and not this time. There are presently way more functioning assembling plants right now, and those whose body are even designed built/manufactured in Nigeria. The IVM is one of them, located in the eastern Nigerian state of Anambra.

Here is the table of vehicle assembling plants in Nigeria.

Nobleval: and Nigeria is regressing or what?

No am not saying that.. Like I said before. Nigeria should strive to get better institution . Its seems the song of giant of Africa has sank deep into the brains of a lot of people, instead of having a reality check.you are a nigerian and u know too well how the system operates..the economy will not go far with such .. GERALD710 made a few points that back up my claims..although I don't agree with some.

iamord:

No am not saying that.. Like I said before. Nigeria should strive to get better institution . Its seems the song of giant of Africa has sank deep into the brains of a lot of people, instead of having a reality check.you are a nigerian and u know too well how the system operates..the economy will not go far with such .. GERALD710 made a few points that back up my claims..although I don't agree with some.

Nigeria's problem is not excalty what you stated above, it's more of leadership. When a person's tribe and ethnicity becomes a key factor over his/her personality and record in electing leaders, you have leadership problem. This leads to other problem of corruption and incompetence we're suffering from.

If with around 4000MW of power, Nigeria has a GDP of $510billion, I believe we'll have nothing less than a trillion dollars with a constant and stable power.

PaulJohn1:

Nigeria's problem is not excalty what you stated above, it's more of leadership. When a person's tribe and ethnicity becomes a key factor over his/her personality and record in electing leaders, you have leadership problem. This leads to other problem of corruption and incompetence we're suffering from.

If with around 4000MW of power, Nigeria has a GDP of $510billion, I believe we'll have nothing less than a trillion dollars with a constant and stable power.

The problem of nigeria is you and me.. Let's leave the leaders in high places and let's see how we below go about to organize ourselves on a daily basis. From what I have seen in the society.. U see people leaving their refuse on the street.. Since lawma has been picking up dirt its no more their business.. If they don't come they leave it on the street.. When rain falls it makes the whole place dirty.. And people will still put on fine clothes and shoes and pass on it and blame government. People only contribute for security fee when robbers come attacking .. Else they will never pay.. Some time back I saw a church built a public water system for a community..from no where people started bringing their buckets to fetch.. Its lasted for months and helped families save money.. When pump machine spoilt . It was just like magic.. No one came around to fetch.. Today.. Weed and green algae has taken over..and people have continued with their going to long distances to fetch water and calling mallam.. I guess the church is to blame.. They have forgotten the amount that has been saved while using the service.. Now they expect the church to put a new pump.. Something that they can do on their own.. A whole lot of instance I see around that shows that we are all the same and when we are in that seat we will do worse.. Its a black man behavior deficiency that is sweeping the whole place like a wide fire.. We are the government..and we don't care! But always looking for someone to bell the cat Plain truth

Ghana is dying..
Kenya, pls give dem some left overs as they are apparently too proud to eat from our dust bins. Even though dem dey do shakara, we knw dem dey suffer.

Kenya, pls assist that black brother wey dark like midnight

Nobleval: Why bring Ghana into this?

Why bring ghana into this? Are you serious?

We're talking about kenya overtaking "GHANA" here. Scroll up, Read up.

2ndOGA:

Why bring ghana into this? Are you serious?

We're talking about kenya overtaking "GHANA" here. Scroll up, Read up.

and you find it funny to poke fun at them?