obaaderemi:
It can never get to that level. Ghana will bounce back sooner than later.

Even at this terrible state, the Ghanaian economy is much more expanded (bigger) than it was before and there are more investments than in the past.

In 2005 when Nigerian economy was expanding under Obasanjo we were having very high inflation and depreciation of the naira than we even had during sanctions in Abacha's military.

The only issue with Ghana now is that they have been shut out of the Eurobond market indirectly because the interest rates are high and lenders consider their debts unsustainable.
The exchange rate is also depreciating too fast.

With the coming of the IMF, they gain credibility again to borrow next year from international market. The lenders would believe the IMF program can help Ghana manage their debt properly.

rvp2018:
Dont get lost in details.
Airtel - got the subscriber - and from what I have seen they paid 100M dollars ( I total deal was 120M dollars) - that is I am telling even if you stripped Telkom of everything - it's 4 million subscribes - 4 times - would be worth 400M dollars.
Secondly understand BASIC financial accounting for god sake.
Kenya Gov has always been a shareholder of Telkom.
Kenya Gov started with 100% -it "invested" about 600M dollars to basically clean it up - this was mostly foregoing taxes and other such things.
Then it sold 51% of it to Orange - for 26B - dollars 350M plus then in 2007.
It got a premium of 6B (more than what Helios are paying in 2022 ) - because the 51% stake was valued at 20B kshs.
Again slowly - Orange started complaining that Kenya gov had lied to them.
They came up with restructuring plan - where each shareholder was to finance it - it had chalked up 48B Kshs in debt.
Kenya gov was to raise 49% of that - Orange 51%. This right issue - shareholders bring in more capital.
kenya gov "forgot" about it - Orange brought in another 300M dollars
The Loan to Telkom was therefore converted - their shareholding increase from 51 percent to 70%.
Again the were unhappy - as company was hopeless - Safaricom is behemoth.
They started looking for NEXT BIG FOOL.
In comes Helios - willing to pay 500-600M dollars. Orange told them they will even loan them money and arrange with European Investment Bank.
Helios dived in.But to stop kenya pre-emptive rights - they seceded 10 percent shareholding.
They found the same bankrupt company
They arrange for Telkom to take couple of loans - and keep it going.
Bankrupt again - shareholders - another restructuring plan - for 20B - say 200M dollars.
Kenya gov only gave 2.5B - it wasnt enough - so it was decided to sell assets- to offset liabilites - NOT to declare profit

Now long story short - sold for laughable 50M dollars.

Understand BASIC FUNDAMENTAL HIGH SCHOOL ACCOUNTING.

There are only two ways Helios could have made money from Telkom 1) Dividend 2) CAPITAL GAINS - when they eventually sold their shareholding. There is no evidence Telkom has ever made profit leave alone declared dividends. Kenya gov would declare the same as revenues to public kitty.

Even if Telkom sold everything - until it declares Profit After Tax - Helios were never going to get that money. Unless they corruptly participated in sale of assets....say undervalue the assets and engage in corruption. I doubt they'd dare do that. The fines they can get in London would kill them.

Will you ever for goodness sake stop lying!

Airtel never paid $100m for YuMobile's subscribers. The $100m was a joint deal from Safaricom and Airtel, with Safaricom paying the lion's share of $80m because it got the telecom towers and other infrastructure. You are the same person who thought 4g license cost as much as $24m per year. You don't know anything about the telecommunication industry. This is from a Kenyan source:

https://developingtelecoms.com/business/deals/121-operators/5560-safaricom-closes-yu-acquisition.html
Kenyan operator Safaricom has received final regulatory
approval for its acquisition of assets from Essar
Telecommunications Kenya.
The $80 million deal has been described as “the largest of
its kind in the telecoms sector in Kenya”, and will transfer
Essar’s passive network infrastructure and spectrum to
Safaricom along with 150 staff.

This is the same reason Helios made a killing from the sale of the towers. A whopping $170m. And yes, no law says they can't keep the money unless they declared a profit. If there's any, kindly post it here.

Helios didn't need the company to make profit, all it needed was revenue to meet salaries. The staff was reduced from 17,000 to about just 5000! Kenyans really suffered at the hands of the French and the Nigerians. See, you can't beat these foreign investment companies. They leave no stone unturned in their quest to make profit. That's why they stopped investing in the company since 2019. Last year, your weak assed Treasury still advanced Helios $22m shareholders loan.

GeneralDae:

Even at this terrible state, the Ghanaian economy is much more expanded (bigger) than it was before and there are more investments than in the past.

In 2005 when Nigerian economy was expanding under Obasanjo we were having very high inflation and depreciation of the naira than we even had during sanctions in Abacha's military.

The only issue with Ghana now is that they have been shut out of the Eurobond market indirectly because the interest rates are high and lenders consider their debts unsustainable.
The exchange rate is also depreciating too fast.

With the coming of the IMF, they gain credibility again to borrow next year from international market. The lenders would believe the IMF program can help Ghana manage their debt properly.

I really don't know what happened to Ghana. They have a small population and natural resources. I have a feeling lack of investment and the unbridled debts did them in.

https://www.instagram.com/reel/CjfMz_BqRIV/?igshid=YmMyMTA2M2Y=

Parts of Capetown you don't see

African leaders and their insane privileges in the midst of crushing poverty and biblical level suffering. This is even worse than Nigeria:

According to the Presidential Retirement
Benefits Act, Uhuru is entitled to a lump
sum payment of Sh34.5 million gratuity,
calculated as a sum equal to one year salary
for each term served as president. His
monthly salary is Sh1.44 million.
He will get a monthly pension equal to 80
per cent of the monthly salary which means
he will earn Sh1.15 million.
“A retired president is also entitled to a
suitable office space, not exceeding 1,000
square metres, with appropriate furniture,
furnishings, office machines, equipment
and office supplies, to be provided and
maintained by the government,” states the
Act.
The president will be entitled to an
entertainment allowance equal to 15 per
cent of his monthly salary. This will be
Sh200,000 per month; a housing allowance
equal to 23 per cent of his monthly salary
which will be Sh300,000 per month.
Uhuru will get two personal assistants, four
secretaries, four messengers, four drivers
and bodyguards pushing his soon-to-be
personal office and home workers to 34.
These will include press secretaries and
security officers paid for by the State, with
the aides being seconded by the
government.
He will be entitled to two new cars of his
choice, replaceable every three years, each
car having an engine capacity not
exceeding 3000cc; another two four-wheel
drive motor vehicles of his choice,
replaceable every three years, each vehicle
having an engine capacity of at least
3400cc.
Uhuru will be entitled to Sh200,000 fuel
allowance and Sh300,000 for electricity,
water and telephone facilities.
“The retired president, his spouse and
children under 18 years are entitled to a full
medical and hospital cover, providing for
local and overseas treatment with a
reputable insurance company,” the Act
states.
President Uhuru Kenyatta.
[File, Standard]
According to the Act upon the death of a
serving president or of a retired president
who is in receipt of or who is entitled to a
pension under this Act, his surviving spouse
shall be entitled to benefits amounting to 50
per cent of such pension for the rest of her
life.

How did I even argue with a baboon like you for that long in stuff you can barely understand.

obaaderemi:
Will you ever for goodness sake stop lying!
And yes, no law says they can't keep the money unless they declared a profit. If there's any, kindly post it here.

There is only one of ex-president - and this cost of democracy -so leaders dont hang into office illegally.

The pension and related benefits apply to every gov parastal and they are taxable. Of course it more than Nigeria - because everyone in kenya earn three times what Nigeria do - policeman, teacher, nurse, army guy.

And now for Uhuru is already started work as peace envoy - although he is a failure domestically - maybe he can help

obaaderemi:
African leaders and their insane privileges in the midst of crushing poverty and biblical level suffering. This is even worse than Nigeria:

Ghana and Zambia have been twins forever. They are democratic, peaceful, have natural resources, appear even progressive but can't seem to handle their macro-economics. This historic problem since their independence. It resource curse problem of Africa..when gold or copper is doing well..they overbrow...next minute they are down. And with history of hyperinflation - it's hard to fix that. Any small economic headiwnds or turbulence...everyone panics and dollarize.

Zambia over-indulged in eurobond. They defaulted last year. The new president is a reformist - understand economics - and has prevented a catastrophe - and they are well on a mend. Their debt to GDP is now 133% - and they need 8.5B dollars loan from IMF. Tough luck but they choose a good leader.

Ghana problems starts with an idiot for a president who swore never to go to IMF - more like Nkurumah did in 1960s and was kicked out by army as the country started to descend into chaos. If they retain the dwarf cartoon president - with that irritating voice - they are done.

obaaderemi:
I really don't know what happened to Ghana. They have a small population and natural resources. I have a feeling lack of investment and the unbridled debts did them in.

IMF Projections | 2023

Angola��: 3.4%
Côte d’Ivoire��: 6.5%
DR Congo��: 6.4%
Ethiopia��: 5.3%
Ghana��: 2.8%
Kenya��: 5.1%
Nigeria��: 3.0%
Rwanda��: 6.7%
Senegal��: 8.1%
South Africa��: 1.1%
Tanzania��: 5.2%
Uganda��: 4.9%
Zambia��: 4.0%
Zimbabwe��: 2.8%

Africa - fiscal deficit & gov debt.
Nigeria debt is fast rising - seems to have double 38% in 4yrs - and their GDP is fake - gov revenues low
Ghana did the same kind of thing - 4yrs - it has doubled from 47 percent to 90 percent.
Kenya once it reached 68 percent - seem to have put a brake on borrowing. Exact same scenario with South Africa.

External debt/reserves
Nigeria looks good - limited exposure to external shocks.
Ghana most vulnerable

rvp2018:
How did I even argue with a baboon like you for that long in stuff you can barely understand.

As expected, you resort to insults after being busted on numerous blatant lies. An idiot who thought 4g license costs as much as $24m in a shithole like Kenya.

rvp2018:
There is only one of ex-president - and this cost of democracy -so leaders dont hang into office illegally.

The pension and related benefits apply to every gov parastal and they are taxable. Of course it more than Nigeria - because everyone in kenya earn three times what Nigeria do - policeman, teacher, nurse, army guy.

And now for Uhuru is already started work as peace envoy - although he is a failure domestically - maybe he can help

Nonsense as usual. You are suffering from Stockholm disease. Basic salary in Kenya and Nigeria are similar if you factor in cost of living. Your politicians are doing you in and out of shame you are here praising them.

rvp2018:
Ghana and Zambia have been twins forever. They are democratic, peaceful, have natural resources, appear even progressive but can't seem to handle their macro-economics. This historic problem since their independence. It resource curse problem of Africa..when gold or copper is doing well..they overbrow...next minute they are down. And with history of hyperinflation - it's hard to fix that. Any small economic headiwnds or turbulence...everyone panics and dollarize.

Zambia over-indulged in eurobond. They defaulted last year. The new president is a reformist - understand economics - and has prevented a catastrophe - and they are well on a mend. Their debt to GDP is now 133% - and they need 8.5B dollars loan from IMF. Tough luck but they choose a good leader.

Ghana problems starts with an idiot for a president who swore never to go to IMF - more like Nkurumah did in 1960s and was kicked out by army as the country started to descend into chaos. If they retain the dwarf cartoon president - with that irritating voice - they are done.

Your little India is also inching towards Ghana's level. Your currency is losing value and inflation is rising. The Chinese are calling in their loans. By the end of the year you will be in similar straits.

Obaboon, why are you obsessed with Kenya?

rvp2018:
External debt/reserves
Nigeria looks good - limited exposure to external shocks.
Ghana most vulnerable

Btw, Mzee for you and anyone else in Oyinboland you're now well into Autumn on the way to winter: you know what that means!
In these upside down times ONLY more f'ery and very likely mass trauma unseen since WW2 Europe with the J/Uke thing.
Already the Swiss,Germans and Dutch leaders are advising on limiting showers and stockpiling firewood.

De Volkskrant: Due to rising gas prices, Dutch residents began to buy firewood
https://newsunrolled.com/economy/71104.html

All this greatly affects prices. The publication noted that a cubic meter of wood currently costs 165 euros in the Netherlands, which is 50 euros more than last year’s prices.

The inevitable consequences are terrifying- faced with freezing citizens who they already don't give a rat EFF about your survival as a black foreigner may be definitely problematic.
Pls,organise a contingency plan now! When and if the freeze happens Dutch,Belgian,Swiss and German citizens abandoned by their respective governments will ofc be concerned primarily with their own people. Idk if it'll be a purge type situation;it may very well be- I only know if this path continues there may well be a real life W European Ice Age.

It may be wiser to wait out the war here til Putin wins early next year. Everyone else in WE you've seen or should've seen the leaders of those liberal democracies don't even pretend to give an EFF for THEIR OWN-what about you?

When did you determine that is 2-3 times more expensive to live in Kenya? Our inflation is single digit. Yours is forever double digit.

obaaderemi:
Nonsense as usual. You are suffering from Stockholm disease. Basic salary in Kenya and Nigeria are similar if you factor in cost of living. Your politicians are doing you in and out of shame you are here praising them.

1) Kshs has lost as much ground as every world currency has lost to the dollar - about 7-8%. Less said about Naira the better
2) Inflation is still single digit. Less said about Nigeria inflation the better.
3) Chinese & external loans are under control. We long put the brakes
4) Kenya macro-economics have and will always be solid - because our Treasury has smart folks who took Helios to cleaners.
-> Data from the Treasury show China's total lending dropped to $6.83 billion in June from $7.05 billion a year ago and $3 billion in 2016.

obaaderemi:
Your little India is also inching towards Ghana's level. Your currency is losing value and inflation is rising. The Chinese are calling in their loans. By the end of the year you will be in similar straits.

It's hard to be found in this hallowed company.
Top 10 banks in Africa.....

I am not sure how this will go - but technically - we are now allowed to work six months away from duty station - so I will likely spend most of the winter in kenya. I think most people will try to avoid winter. Definitely I will try to stay in Kenya Jan-March.

kikuyu1:


Btw, Mzee for you and anyone else in Oyinboland you're now well into Autumn on the way to winter: you know what that means!
In these upside down times ONLY more f'ery and very likely mass trauma unseen since WW2 Europe with the J/Uke thing.
Already the Swiss,Germans and Dutch leaders are advising on limiting showers and stockpiling firewood.

De Volkskrant: Due to rising gas prices, Dutch residents began to buy firewood
https://newsunrolled.com/economy/71104.html



The inevitable consequences are terrifying- faced with freezing citizens who they already don't give a rat EFF about your survival as a black foreigner may be definitely problematic.
Pls,organise a contingency plan now! When and if the freeze happens Dutch,Belgian,Swiss and German citizens abandoned by their respective governments will ofc be concerned primarily with their own people. Idk if it'll be a purge type situation;it may very well be- I only know if this path continues there may well be a real life W European Ice Age.

It may be wiser to wait out the war here til Putin wins early next year. Everyone else in WE you've seen or should've seen the leaders of those liberal democracies don't even pretend to give an EFF for THEIR OWN-what about you?

rvp2018:
When did you determine that is 2-3 times more expensive to live in Kenya? Our inflation is single digit. Yours is forever double digit.

Your cost of living has been high for long. How much do you pay for a little of petrol and how much do you think it costs in Nigeria? How much do you pay for your imported corn and how much do you think it costs in Nigeria? Your public pay is just as bad as Nigeria's or anywhere else in subsahara Africa. And your inflation is close to double digit than you think, from 8% in August to above 9% in September. By November it will be over 10%.

By capital - by Assets - Zenith still far away from entering top 10.

obaaderemi:
It's hard to be found in this hallowed company.

Top 10 banks in Africa.....

rvp2018:
1) Kshs has lost as much ground as every world currency has lost to the dollar - about 7-8%. Less said about Naira the better
2) Inflation is still single digit. Less said about Nigeria inflation the better.
3) Chinese & external loans are under control. We long put the brakes
4) Kenya macro-economics have and will always be solid - because our Treasury has smart folks who took Helios to cleaners.
-> Data from the Treasury show China's total lending dropped to $6.83 billion in June from $7.05 billion a year ago and $3 billion in 2016.

8% drop against the dollar for a country that depends mainly on imports is also bad. Inflation is rising in Kenya too, tell us if you think it's going down. If it's going up then you have nothing to celebrate.

You are already begging the imf for loans again. You are begging China to renegotiate payment of your debt to them. You are not much better than Ghana is doing. Your economy is in trouble.

rvp2018:
By capital - by Assets - Zenith still far away from entering top 10.

Lol look again.
Spot Kenya if you can ; D
You are too small for Nigeria walahi .

rvp2018:
By capital - by Assets - Zenith still far away from entering top 10.

By capital, it's already in top 10

samorobo:


Lol look again.
Spot Kenya if you can ; D
You are too small for Nigeria walahi .

Kenya? Top ten in ranking of Africa's banks? Impossicant.
Don't mind that tortured soul. He's probably right now combing the internet to disclaim this fact.

Every currency in world has depreciated by average 8% to the USD - and that is exactly where Kenya is - it's moved from 115 to a dollar to 120 to a dollar. That Nigeria would kill for. The rest sounds like desperation for company in the misery corner.

obaaderemi:
8% drop against the dollar for a country that depends mainly on imports is also bad. Inflation is rising in Kenya too, tell us if you think it's going down. If it's going up then you have nothing to celebrate.

You are already begging the imf for loans again. You are begging China to renegotiate payment of your debt to them. You are not much better than Ghana is doing. Your economy is in trouble.

why dont you copy everything - that would help show you kenya banks are fast rising - and i expect Equity & KCB to overtake all Nigerian banks in 3-4yrs - despite coming from a large pond.
https://www.thebanker.com/World/Africa/The-Banker-s-Top-100-African-Banks-2022?ct=true

obaaderemi:
By capital, it's already in top 10

Something like this is more sensible Obaboon. We need to stick to intellectually stimulating conversation in this thread. You have are now not any different from Samrobo.

obaaderemi:
Kenya? Top ten in ranking of Africa's banks? Impossicant.
Don't mind that tortured soul. He's probably right now combing the internet to disclaim this fact.

rvp2018:
why dont you copy everything - that would help show you kenya banks are fast rising - and i expect Equity & KCB to overtake all Nigerian banks in 3-4yrs - despite coming from a large pond.
https://www.thebanker.com/World/Africa/The-Banker-s-Top-100-African-Banks-2022?ct=true

All of a sudden Nigerian banks disappeared. I would take performance and profitability over the size of dead weight.

rvp2018:
They soon will not afford to buy bread leave alone internet bundles

you think Ghana has turn to Kenya er?


I just need more data... Every sector of the Ghanaian economy is doing well with an explosion in manufacturing capacity...

Watch Ghana export jump from 24 billion to 27 billion by 2023 end

obaaderemi:
I really don't know what happened to Ghana. They have a small population and natural resources. I have a feeling lack of investment and the unbridled debts did them in.

overspending and a delay in investment returns