This is from 2021 - Kenya Chief Economist - explaining overdraft from any central banker is printing money
David Ndii
@DavidNdii
GoK print money whenever it utilises its Central Bank overdraft facility (allowed up to 5% of audited revenue by law). It also earns “seignorage revenue” from supplying money to the economy—paid through CBK dividend.
https://twitter.com/DavidNdii/status/1442433973938950147

rvp20182:
Magufuli was your twin - small minded who think development is running around like headless chicken. We had Moi doing that for 24yrs and the results was a collapsed economy.

Economy is run through BRAINS - not brawl. Magufuli was fingered by IMF for cooking data - after he realized - his running around produced opposite effect - low economic growth.

Under Jakaya Kikwete - TZ economy was growing at 7% - now you're doing 3-5%. You're not growing. Kenya has increased the gap on you.

KES is free -floating but IMF & many thought it was over-valued (@100) - this USD run has done the devaluation(130) - it's now where it supposed to be. Uhuru had also mismanaged thanks to self-interest the forex market - with crooked banks cashing a billion dollars - as inter-bank forex collapsed and opaqueness set in - infact even black market was starting in Kenya. Those are now sorted. KES is free floating, forex market and the rate you get from everywhere is the same.

Naira needs to devaluaed to match the black-market - so does Birr. That everyone with brain knows.

IMF is telling the CBK to float the currency now,this is a story of few days ago.But as usual you try to lie by saying the IMF told cbk when the Ksh was 100 per dollar which is last year.A lie.
The truth is,IMF wants ksh to float while your currency is already at 135 per dollar.That means expect the Ksh to fall more and your GDP will be under 100b and TZ will rebase her GDP which will go up above 100b.
A very good moment to be alive

KES is free floating since 1993 or about. Kenya has almost zero forex control unlike Tanzania.
Central bank of kenya occasionally defended KES on behalf of treasury by buying and selling dollars -
IMF thought CBK was "over-defending" KES - and technical analysis then showed it was over-valued by 27 percent.
They classified KES from free floating to managed float.
That was when it was at 100shs - so at 130s - we have achieved our devaluation goals.
And it should stay there.

So yes CBK should not intervene anymore in forex market using forces of demand and supply - different story from Nigeria where CBN just decide to peg the Naira to figure.

Naira is artificially pegged.

As for you main interest - Kenya economy would have been 145B this year (we are 14.5 trillion KES now) - if we had kept it at 100 to a dollar.

Now it 120B dollars - you still cant and wont catch up.

Kazikazi:
IMF is telling the CBK to float the currency now,this is a story of few days ago.But as usual you try to lie by saying the IMF told cbk when the Ksh was 100 per dollar which is last year.A lie.
The truth is,IMF wants ksh to float while your currency is already at 135 per dollar.That means expect the Ksh to fall more and your GDP will be under 100b and TZ will rebase her GDP which will go up above 100b.
A very good moment to be alive

rvp20182:
He nearly died from depression when Magufuli who was to overtake Kenya died Now is daily praying for the day BONGO LALAS overtake kenya. Never gonna happen when average Tanzania is mentally deficient.

😂 😂

Instead of working hard to surpass Kenya, they pray for calamities to hit us? That is a losing strategy that will keep them poor forever waiting for Kenya to collapse so they can feel important.

Legacy of Ujamaa; communism can generate jealousy because it is based on the idea of communal ownership and the sharing of resources. In a communist society, everyone is supposed to have equal access to resources and opportunities, which can create a sense of envy or resentment if some people perceive that others are receiving more or better resources.

gallivant:


😂 😂

Instead of working hard to surpass Kenya, they pray for calamities to hit us? That is a losing strategy that will keep them poor forever waiting for Kenya to collapse so they can feel important.

gallivant:


😂 😂

Instead of working hard to surpass Kenya, they pray for calamities to hit us? That is a losing strategy that will keep them poor forever waiting for Kenya to collapse so they can feel important.

Who is praying for your downfall?
It's your own fear which led u to be in this shit of debts.You scored an own goal.
You feared Tanzania. You with your leader kenyata decided to borrow heavily so that your economy might appear big. You went ahead and built shit stuff like that old railway powered by diesel while taking a huge loan from China.
Again,you spent big money to propp up the shilling instead of investing in stuff like agriculture

Now the reality is settling in,the civil servants are starving for not getting pay,the debts are huge,you now wants G20 to forgive u?
Still u don't see your mistakes.You are here thinking TZ is praying for your downfall? Which downfall while u have been down ever since?

Kazikazi:
Who is praying for your downfall?
It's your own fear which led u to be in this shit of debts.You scored an own goal.
You feared Tanzania. You with your leader kenyata decided to borrow heavily so that your economy might appear big. You went ahead and built shit stuff like that old railway powered by diesel while taking a huge loan from China.
Again,you spent big money to propp up the shilling instead of investing in stuff like agriculture

Now the reality is settling in,the civil servants are starving for not getting pay,the debts are huge,you now wants G20 to forgive u?
Still u don't see your mistakes.You are here thinking TZ is praying for your downfall? Which downfall while u have been down ever since?

Find your mates like Ghana to play with and forget about Kenya.

gallivant:


Find your mates like Ghana to play with and forget about Kenya.

2020 figures

rvp20182:
4th in number of wealthy

Some say 3300 some say 8000

It's inconclusive

AfriqueDuZuid:


Some say 3300 some say 8000

It's inconclusive

what conclusive is Nairobi overtaking Durban and nipping on lagos.kenya n Nigeria almost at par.

Pushed by the scarcity of cash, Nigerians transferred a total of N4.1 trillion (over 9 Billion dollars) over mobile in March 2023. This pushed transactions over the platform to record a 215% increase of over N1.3 trillion recorded in the same period last year.  

This came as the highest-ever monthly transactions recorded on the mobile platform and nearly double the record of February this year, which stood at N2.5 trillion. 

According to the latest electronic transactions data released by the Nigeria Inter-Bank Settlement Systems (NIBSS), the volume of mobile transactions also jumped by 794% in the month. The volume of transactions in March this year stood at 380 million compared with the 42.5 million recorded in the same period last year.

AfriqueDuZuid:


2020 figures

Please post the latest figures before load shedding is activated.

gallivant:


Please post the latest figures before load shedding is activated.

Look these figures before u starve in turkana

Kazikazi:

Look these figures before u starve in turkana

Kenya is way ahead of witchcraft communists. Great find.

gallivant:


Please post the latest figures before load shedding is activated.

Lol what loadshedding? Im unaffected

Dejavuprivate Cinema, located in pietersburg, Wuse 2, Abuja.

rvp20182:
what conclusive is Nairobi overtaking Durban and nipping on lagos.kenya n Nigeria almost at par.

Lol durban is SA 3rd biggest



Your best competing with SA 3RD, if you think you are anywhere close to lagos you are dilusional

The City Capital

rvp20182:
You cant rig the economic game for long before it shows. You saw in Magufuli when he tried cooking economic data -after scaring investors- forex outflowed followed - and Tanzania KES weaken - and you had to raid forex beaurue.

You're luckly you got Samia - who has assured the investor and some of that forex is coming back.

Countries in trouble in forex now - Nigeria, Ethiopia and Egypt. Egypt is dealing with problem head on - with devaluation.

Nigeria is scared to even start addressing their mess as their fake economy will be exposed. Ethiopia unlikely to address the problem too.

It's always nice to see things from a perspective of someone looking in (even if I know you're trolling) you try to be honest.

Nigeria has only been postponing what should have happened a long time ago.

Let the subsidy go, eliminate forex regulations which have been a huge drag on FDI inflows and has cost of a lot of growth potentials in the last decade.
The labour unions have become political so I'm watching how events would unfold -June, 2023.

The Nigerian government would not be able to survive this conditions for another 6 months without defaulting.

The Subnationals have long defaulted and are chronicly bankrupt barring Lagos and the oil producing states.

Tbh, things are going to continue this way if hard decisions are not made by the incoming admin.

Only the elite have access to the official rates anyway, so apart from stupid pride, what is stopping the CBN from liberalising the forex market?

Two things need to happen in the next 6 months if we should have any hopes of turning things around.

Nobody would be willing to invest in any country if you're not certain about it's economic stability.

GeneralDae:
Pushed by the scarcity of cash, Nigerians transferred a total of N4.1 trillion (over 9 Billion dollars) over mobile in March 2023. This pushed transactions over the platform to record a 215% increase of over N1.3 trillion recorded in the same period last year.  

This came as the highest-ever monthly transactions recorded on the mobile platform and nearly double the record of February this year, which stood at N2.5 trillion. 

According to the latest electronic transactions data released by the Nigeria Inter-Bank Settlement Systems (NIBSS), the volume of mobile transactions also jumped by 794% in the month. The volume of transactions in March this year stood at 380 million compared with the 42.5 million recorded in the same period last year.

I'm starting to see SME owners with POS machines and more willing to accept cashless transactions. I expect even higher numbers in the times to come

rvp20182:
Magufuli was your twin - small minded who think development is running around like headless chicken. We had Moi doing that for 24yrs and the results was a collapsed economy.

Economy is run through BRAINS - not brawl. Magufuli was fingered by IMF for cooking data - after he realized - his running around produced opposite effect - low economic growth.

Under Jakaya Kikwete - TZ economy was growing at 7% - now you're doing 3-5%. You're not growing. Kenya has increased the gap on you.

KES is free -floating but IMF & many thought it was over-valued (@100) - this USD run has done the devaluation(130) - it's now where it supposed to be. Uhuru had also mismanaged thanks to self-interest the forex market - with crooked banks cashing a billion dollars - as inter-bank forex collapsed and opaqueness set in - infact even black market was starting in Kenya. Those are now sorted. KES is free floating, forex market and the rate you get from everywhere is the same.

Naira needs to devaluaed to match the black-market - so does Birr. That everyone with brain knows.

Your economy is service sector bubble and would crash and burn at any slight nuisance.

Your economy is built on thin air

AfriqueDuZuid:


Lol durban is SA 3rd biggest



Your best competing with SA 3RD, if you think you are anywhere close to lagos you are dilusional

data spoke..not me soweto slum dog

Subsaharan:


Your economy is service sector bubble and would crash and burn at any slight nuisance.

Your economy is built on thin air

Well diversified economy like Kenya is very resilient..don't waste time betting on it..Nigeria oil based economy is in trouble. Kenya we are about to harvest fruit of our hardwork..in education, demographics and infrastructure. We are going soon into economic takeoff akin to what'd now happening in Veitnam,Bangladesh and India.Focus on important things and you might take off like is about happen in kenya.Meet the pre conditions of take off.

Subsaharan:


It's always nice to see things from a perspective of someone looking in (even if I know you're trolling) you try to be honest.

Nigeria has only been postponing what should have happened a long time ago.

Let the subsidy go, eliminate forex regulations which have been a huge drag on FDI inflows and has cost of a lot of growth potentials in the last decade.
The labour unions have become political so I'm watching how events would unfold -June, 2023.

The Nigerian government would not be able to survive this conditions for another 6 months without defaulting.

The Subnationals have long defaulted and are chronicly bankrupt barring Lagos and the oil producing states.

Tbh, things are going to continue this way if hard decisions are not made by the incoming admin.

Only the elite have access to the official rates anyway, so apart from stupid pride, what is stopping the CBN from liberalising the forex market?

Two things need to happen in the next 6 months if we should have any hopes of turning things around.

Nobody would be willing to invest in any country if you're not certain about it's economic stability.

You're half way..those are macro economics reforms that are indeed imperative..invest in security heavily using money from stupid petrol subsidy... fix electricity that preventing south Nigeria from taking off..fix education that preventing North Nigeria from emerging from stone age. Fix macroeconomics, fix security, fix electricity and fix education. THEN WE CAN TALK...Nigeria unlikely to make any single reform though as it state if dysfunctionalism has become normal

rvp20182:
Well diversified economy like Kenya is very resilient..don't waste time betting on it..Nigeria oil based economy is in trouble. Kenya we are about to harvest fruit of our hardwork..in education, demographics and infrastructure. We are going soon into economic takeoff akin to what'd now happening in Veitnam,Bangladesh and India.Focus on important things and you might take off like is about.Meet the preconditions of take off.

what preconditions has Kenya met for your utopia to materialize? and please don't tell me your projection is based on exporting avocados.

rvp20182:
Well diversified economy like Kenya is very resilient..don't waste time betting on it..Nigeria oil based economy is in trouble. Kenya we are about to harvest fruit of our hardwork..in education, demographics and infrastructure. We are going soon into economic takeoff akin to what'd now happening in Veitnam,Bangladesh and India.Focus on important things and you might take off like is about.Meet the pre conditions of take off.

What is diversified about Kenyan economy?

Only South African economy comes close to being diversified in Africa.

List your top five sectors.

Subsaharan:


what preconditions has Kenya met for your utopia to materialize? and please don't tell me your projection is based on exporting avocados.

Total fertility rate below 3 or 2.8.Education & literacy approaching 95..with education quality highest in Africa and decent basic infrastructure.The first will radically transform domestic savings n investments from household upwards. Education is of course greatest denominator n predictor of many things. The last is facilator or enabler.

GeneralDae:

What is diversified about Kenyan economy?

Only South African economy comes close to being diversified in Africa.

List your top five sectors.

check kenya growth last 20yrs...and see how it has effortlessly weathered all economic storm without minerals. South Africa is very sick...its getting sicker every day..they lost decade of 2010s and are definitely losing another

rvp20182:
You're half way..those are macro economics reforms that are indeed imperative..invest in security heavily using money from stupid petrol subsidy... fix electricity that preventing south Nigeria from taking off..fix education that preventing North Nigeria from emerging from stone age. Fix macroeconomics, fix security, fix electricity and fix education. THEN WE CAN TALK...Nigeria unlikely to make any single reform though as it state if dysfunctionalism has become normal

getting more guns is not going go stop insecurity, bringing down unemployment would.

Things just don't happen..Kenya has moved from world highest growing population with tfr of 8 to now 3.1 by investing heavily in population control..with Africa highest contraceptive usage..dramatic story from 90s. Kenya invest 30 percent of its budget in education...definitely highest in world I bet.And for third world country it has middle class country quality of education. That is why Kenya online rip apart these poorly educated Africans.Finally Kenya infrastructure expansion for last few years is phenomenal..though it driven us to near bankruptcy