₦airaland Forum

QueenNyakim:
I never denied Ghana didn't have bad leadership because it does. Our m0ron of a president is literally wasting our tax money on building himself a catheral which plenty of Ghanaians have voiced their anger out on. Nigeria has terrible leadership too hence why I'm rooting for Obi Peter to change things around in your country but people really need to call out a spade instead of acting delusional like ProblemChild.

Hmm, okay.

Kazikazi:
Yah the issues of insecurity in these countries is due to the failure of these governments to do what governments all over the world are mandated to do...securing the citizens.
It's even more sad when u see these very same citizens defending their government's failure.

It also depends on the nature of the citizens. Does Tanzania have a more responsible Government or stronger military than U.S and Brazil? How come those countries are generally more insecure than Tanzania?

Nigerians registered mobile transactions worth N2.37 trillion (5 Billion dollars) in January 2023, representing a staggering 125% increase compared to the corresponding period of the previous year amidst the sustained scarcity of cash in the country. 

This is according to recent data released by the Nigeria Inter-Bank Settlement Systems (NIBSS). Also, the volume of mobile transactions in the largest African economy rose by 55% year-on-year to 108.1 million in contrast to 32.6 million transactions registered in January 2022. 

Nigerians have endured massive cash scarcity in recent weeks following the decision of the apex bank to redesign higher naira denominations and phase the old notes out of the economy. The initial deadline for the usage of the old notes was 31st January 2023, which was later extended to 10th of February. 

However, due to the limited new notes in circulation, cash transactions have been hard to come by in the country, as many had to endure long queues in banking halls, ATMs, and point of sale (POS) in other to get cash. 

Others had to pay a premium of as much as 30% to withdraw from POS agents across the country. The cash drought in the country meant that Nigerians had to adopt other forms of banking transactions, like mobile banking, NIP, and the Point of Sale. 

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Specifically, the value of NIP (NIBSS Instant Payments) rose by 46% to N38.77 trillion (80 Billion dollars) in January 2023 from N26.65 trillion recorded in the corresponding period of 2022. It only declined marginally by 7.7% when compared to N42.03 trillion recorded in December 2022.

Below are the top 8 African cities with the most developed startup ecosystems according to StartupBlink

1. Lagos, Nigeria

According to the report, Lagos has jumped 41 places to 81st globally and is the first African city to break into the top 100. Lagos is ranked 24th globally in the Foodtech industry and 43rd in eCommerce & Retail. Lagos' achievement in Foodtech should be celebrated because Lagos is the only African city to reach the top 30 for the 11 industries.

2. Cape Town, South Africa

1st nationally, Cape Town has decreased by two spots to 147th globally but has moved up to the 2nd highest ranked city in Africa at the expense of Nairobi.

3. Johannesburg, South Africa

Although decreasing six spots to 158th globally, Johannesburg ranks 2nd nationally and is climbing to 3rd position in Africa, also profiting from Nairobi's decline.

4. Cairo, Egypt

The only ranked city in the top 1000, Egypt’s capital of Cairo, has seen a jump of 20 spots to rank 160th globally and 4th in Africa, with a slight lead over Nairobi (5th) and a small gap from Johannesburg (3rd). Alexandria dropped out of the global top 1000 this year, leaving Cairo as the only ranked city in Egypt. Cairo is ranked 89th in the Transportation industry.

5. Nairobi, Kenya

The city of Nairobi is out of the global top 150 and has decreased 27 spots to 163rd, but still ranks 1st in Eastern Africa. Nairobi, which ranked 1st in Africa in 2020, has lost three positions to rank 5th in Africa, now preceded by Lagos and Capetown, Johannesburg, and Cairo.

6. Accra, Ghana

Accra, the only city from Ghana to make the global top 1000, has lost 15 positions to rank 296th, still in the top 300. Accra is ranked 6th in Africa and 2nd in Western Africa.

7. Casablanca, Morocco

Casablanca has maintained its growth momentum from 2021 and improved by another 39 spots to 325th globally. Casablanca is now 7th in Africa and 2nd in Northern Africa, displacing Tunis.

8. Kigali, Rwanda

The only ranked city in Rwanda is Kigali, which decreased 130 spots to rank 395th. Kigali ranks 8th in Africa and 2nd in Eastern Africa, where it has a reasonable gap from its closest contenders, Kampala and Addis Ababa.

QueenNyakim:
Yeah...Thats pretty embarrassing...There is no denying that.

But you have the APC and PDP decades of mismanagement to blame for this. Nigeria really should be far ahead from the rest of Africa yet it near to the bottom of everything in nearly every category. Its why I'm hoping Labour Party wins the Nigerian national election so they can finally tap into Nigeria's true potential though it won't happen straight away and I completely understand that.

Although I agree APC and PDP have not impressed so far, still my top candidates for this election (in this order) are:

Tinubu
Omoyele Sowore
Christopher Imomhelen
Ado Malik
Adebayor
Peter Obi
Kwankwanso

Any of these candidates can win and Nigeria would definitely not be worse for it.

Nigerian Fintech app downloads as at January 2023 (excluding IOS downloads).

vankelvin:
In any civilized country election is seen as just one of those things but in other uncilivilized zoo's they see elections as the 3rd World war🤣
They make it look as if the world is coming to an end. Even China or India wouldn't behave that way

In just one country there is scarcity of naira
There is scarcity of fuel and now
Universities have been asked to closed down just for fear of war?
🤣🤣

Closed down University over security fears?not true. There have been a petition for a while to close down the Universities in order to allow the youths (passionate first time voters) vote.

TookDownYourMum:
Didn't your Ghanaian president Nana Akufo-Addo beg Europeans aka Germany to plead with China over Ghana's debt?

https://www.ghanaweb.com/GhanaHomePage/NewsArchive/Akufo-Addo-begged-Germany-s-foreign-minister-to-plead-with-China-over-Ghana-s-debt-Mornah-1711208

This is just sad.

If this is happening, you know your country is being run by a complete clown that has no idea on how to manage a nations finances other than looting the country coffers with stuff like the E-Levy enforced on the already impoverished Ghanaians. OH! Using the Taxpayers money to build himself a cathedral.

Funny enough, the NDC was less corrupt than the NPP going by the Transparency Index during Mahama years in office.

I just don't get it sometimes but I keep wondering how Ghana got so deep into this mess.

Shaytun:
Wow

This means these countries can borrow from other countries without paying them back.
That's unfair if you ask me.

Doubts about sustainability
The aim of the initiative is to reduce poverty in the affected countries and to enable governments to stand on their own two feet through debt relief. The reform programs controlled by the community are designed to achieve effective action. An already economically weakened country may also use this debt relief to borrow money again from other states and not pay it back either.

Another injustice is that individual countries are rewarded with debt relief even though they have not managed to stand on their own two feet, while the countries that are just above the poverty line because their reforms have been successful are not rewarded.

Source: List of 36 Poor heavily indebted Countries; Worlddata.info.

Thinkam:
Nigerians can rejoice, PDP is coming

God Forbid

Deepfeel:
My choice

Okay

Deepfeel:
Atiku is my second choice cause he is better than tinubu to me

How?

Luzebox:
i have imagined a nigeria without north many time...80% poverty na their side...and they are the ruling people cos of population.....thank God they are the minority in ghana..see wetin dem turn niger,mali etc to

Fanatic religious adherence is the problem.

QuietMynd:
There re still a handful of northern states that re safe/progressive.
Majority of the problem in those northern states is somehow related to religion, illiteracy, fanaticsm, ethnic bigotism and all sort of vice, if investigated can all be traced to religion.
The day they start thinking outside religion will be the day the shackles of backwardness is broken.
Fun fact: all the states going through insecurity in the north all have something in common, sharia law.
If you ever engage some northerner on social media, they can't think and engage u independently without roping religion into the conversation.

Gombe is a Northern state, a progressive one and despite being in the North East is still one of the most peaceful states in Nigeria. Kano is also relatively peaceful despite the huge size and population. If you look well, most of the states troubled by Bandits share border with Niger Republic.

Deepfeel:
I'm an obi supporter , Atiku is my second choice,if obi doesn't win then it's better for Atiku to win simple and short

Why is Atiku your second choice?

vankelvin:
This can only happen in a primitive country

Ghana has faced similar Banking issues but this has never happened. Hw3, we are too civilize for such monkey attitude 🤣

This is not a Banking issue. It's simply people needing cash notes. This is not equal to the Banking issues faced by Ghana for years.

Shaytun:
He’s the CBN governor.

He allowed himself to be used, frankly he abused is position and authority.

Of course he will be blamed, most of the Cabals are faceless.

Buhari also supports the policy. The intent of the policy is superb, the implementation is the issue.

Shaytun:
Even the intent is wrong. The intent of the policy is political.

The policy in itself is not bad, but the execution and roll out is terrible.

I knew there was problem when the minister of finance came out last year and said she was not aware of this policy.

Emefiele has really desecrated the CBN institution.

You do know we might have an economy slow down because of this?

Who does something like this month to an election?

Read about similar policy in India and how much it cost them

https://en.m.wikipedia.org/wiki/2016_Indian_banknote_demonetisation

The intent of the policy is good. It is meant to suck up the 2.8 trillion naira outside the Bank vaults that are in circulation. Now 1.9 trillion naira have been taken back. Thereafter the intent is to limit the amount of cash in circulation outside the Banks. The policy is not a cash swap and the CBN have no intent to reprint thesame amount of naira that was in circulation.

The implementation whereby people are being charged ridiculous sums for withdrawal is where the problem lies. In my opinion, the CBN should have redesigned only 500 and 1000 naira notes, and the limit of free withdrawal daily be set at 50,000 naira. It should have been a controlled process to limit the suffering of the common man who need cash for basic daily activities.

Shaytun:
How anyone will praise this policy is beyond.

It’s very obvious the guy is playing politics, because this is not how to go if you’re trying to demonetize the country.

The thing with this is that the common people would just keep blaming the APC for this and the opposition would use this more to their advantage.
However, the intent of the policy I support but implementation was something else in my opinion.

Ayosman1:
Some of you talks any how. Is a thief because he singlehandedly kill Obasanjo third term plan.wake up! Waziri of Adamawa, Alhaji Atiku Abubakar is your next president, by the special grace of God Almighty

No he is a thief because of spv and the American money laundering case with his wife.
Also, can you show me proof that Atiku's fight with Obasanjo was because of Obasanjo's third term?

AfriqueDuZuid:
MTN makes almos same amount of revenue with half of customers Nigeria has... This means SA may not have the population but they have a spending population

Ethiopia, Egypt, DRC, NIGERIA have the market(population)
However South African market spends

Airtel is not a giant its vodacom, mtn, orange, also safaricom

Simply because of the currency disparity and the low value of the naira if not MTN alone has 78 million active customers in Nigeria.
I said Airtel Nigeria for example in comparison to Airtel in other African countries is a giant.
This means if Vodafone, Orange, and Safaricom goes to Nigeria, their Nigerian branches are likely to be the biggest in Africa as well.

Sultty:
anything in as much as to keep the evil party apc away for good

So you want a thief simply because you want to keep the evil party away?

Kazikazi:
No.9. I know you use to be number 1 on having the safest drinking tape water in the world, but I think for now u are way lower.

Again,I can't understand why S.A. isn't the biggest economy in africa considering how when looked in a physical eyes, SA appears to be having the biggest economic output in the continent

Number 15. Whenever u mention rovos train don't forget to mention how it makes trips from cape town to Dar es salaam

South Africa does not have the biggest economic output. Even MTN makes more money in Nigeria than in South Africa. Airtel Nigeria alone is a giant in comparison to it's other parts in Africa. South Africa have the biggest companies but not the biggest market.

This is what you call structure. Buhari's structure in the North remains and if he supports Tinubu combined with the Tinubu ACN structure already, then Tinubu would win this election.

AfriqueDuZuid:
Namibia in was at $133b are you sure that's the latest at $2.3b?

Their domestic cap (without foreign investors) is at around 2.3 Billion dollars. Can't find anything on them presently everywhere I look.
This is another from a South African source:


5 Biggest Stock Exchanges in Africa


Johannesburg Stock Exchange (JSE) – 1.36 trillion USD


JSE Limited, formerly known as the Johannesburg Stock Market (JSE) and the JSE Securities Market, is Africa’s largest stock exchange.

It is the financial center of South Africa after the relocation of its previous location from downtown Johannesburg to Sandton in the year 2000. As a supplier of Primary Market, Secondary Market, post-trade, and technical services, the JSE plays a crucial role in the South African economy.

It not only controls the Primary and Secondary markets but also provides information about those markets and sells market data. As trading products expand and become more complex, the JSE offers a wide variety of ways to generate money.

The JSE has 425 firms listed on it, and it is not too dependent on any one company’s goods or services. Investors also take heart from the fact that they can generate money in a few diverse ways.



Nigerian Stock Exchange (NGX) – 66.7 billion USD


When it comes to Africa’s integrated market infrastructure, the Nigerian Exchange Group (NGX Group Plc) is a forerunner. As they seek to make Africa’s largest economy more competitive on the global stage, they serve the interests of the whole continent.

The Nigerian Exchange (NGX) is a major trading and listing platform in Africa via its wholly-owned subsidiaries.

The NGX Group provides a wide range of services through its subsidiaries, NGX Regulatory Limited (NGX RegCo), an independent regulation business, and NGX Real Estate Limited (NGX RelCo), a real estate firm.

This encompasses a wide range of activities, such as listing and trading securities, licensing, market data solutions, ancillary technologies, regulation, and more.

The NGX is home to 156 publicly traded firms, and as of the end of the first half of 2023, the Nigerian All Share Index had increased by over 21.17% YTD, making it one of the best-performing stock markets globally.



Casablanca Stock Exchange (CSE) – 65.3 billion USD
La Bourse de Casablanca is a stock market in Casablanca, Morocco. The Johannesburg Stock Exchange and the Nigerian Stock Exchange are the two largest bourses in Africa.

The Casablanca Stock Exchange (CSE), which has one of the best performances in the Middle East and North Africa (MENA) region, is Africa’s third largest Bourse overall. As a result of the changes that were made to it in 1993, the exchange is up to date.

The Central Market and a Block Trade Market that facilitates block transactions are the two markets that are now part of the CSE, which has established an electronic trading platform and is composed of both marketplaces.

The market capitalization of the Casablanca Stock Exchange is approximately 65.3 billion USD, and there are currently 76 listings on the exchange.

Egyptian Stock Exchange (EGX) – 35.72 billion USD

The stock exchanges in Cairo and Alexandria are both a part of the Egyptian Market (EGX), which is Egypt’s stock exchange. They are both governed by the same board of directors and make use of the same infrastructure for trading, clearing, and settlement.

Transactions on the stock market are exempt from taxation on capital gains. When dividends are sent to shareholders, publicly traded companies are exempt from paying taxes on such pay-outs.

When the pre-issued securities are finally made public on the Egyptian Exchange (EGX), investors will be able to sell and buy them at the “market price,” which is a price that fluctuates based on the supply and demand dynamics of the market.

Nairobi Stock Exchange (NSE) – 17.19 billion USD
An important African exchange with its headquarters in Kenya, one of Sub-Saharan Africa’s fastest-growing economies, is the Nairobi Securities Exchange (NSE).

Since its founding in 1954, the NSE has listed securities including debt and shares. For local and foreign investors wanting exposure to the economic growth of Kenya and all of Africa, it offers a world-class trading platform.

The twenty top-performing companies listed on the Nairobi Securities Exchange are tracked by the Nairobi Stock Exchange Twenty Share Index, or NSE20, a prominent stock market index.

Nairobi, where the bourse is situated, is the capital city of Kenya and one of the areas in Sub-Saharan Africa with the greatest rates of economic development. The NSE is governed by the Capital Markets Authority of Kenya, and its 11-person board of directors serves as its oversight body.

After successfully raising KSh 627 million via an IPO in 2014, the NSE demutualized and became a main board-listed company on its own market.

There are 65 businesses listed on the Nairobi Stock Exchange (NSE), which now has a market value of USD 17.19 billion

AfriqueDuZuid:
Namibia in was at $133b are you sure that's the latest at $2.3b?

Okay, probably 5 years ago but now there is no source out there that list them amongst top 5 in Africa. So I believe those investors weren't really stable investors in the market unlike South Africa. Their domestic cap is 2.3 Billion dollars. These are top 5 stock exchanges in Africa by virtually all sources I know of out there:

https://www.asktraders.com/za/learn-to-trade/stock-trading/biggest-stock-exchanges-in-africa/

AfriqueDuZuid:
Namibia was at some point peaked at $120 b not sure where its at now.

I think stock market enlightenment will open many eyes on public companies, people will start to realise that an ordinary person can have shares on any public company of their choice.

The owner may have 20%stake in a company he started, while the rest are divided to million others through shareholding

I'm not really sure about Namibia. There was a huge foreign presence in the case of Namibia so it's really hard to say. Because of this, it largely depends on the source you quote but Namibia is never really considered amongst top in Africa when it comes to market cap.

The Namibian domestic market cap is 2.3 Billion dollars.

Top five market caps in Africa are:

South Africa
Nigeria
Morocco
Egypt
Kenya

AfriqueDuZuid:
south Africa owns owns 54% of the $1.5 trillion JSE, and the rest by foreign entities.

You i know its difficult to comprehend because securities are foreign in that side of life

Men I always envy South Africa when it comes to the Stock Market. I think South Africa should have one of the top three Stock Market Cap in the World as a ratio to GDP.
This is another area the rest of Africa (including Nigeria and Egypt) are far far behind. I think the second largest market cap is Nigeria with a paltry 60-70 Billion dollars. Our poor exchange rate and very few foreign listing (if any) in Nigeria is not helping.

popizaino:
To think Kikuyu1 who used to be a staunch Arsenal supporter is no more when the club is now suddenly doing well and hoping to win the league will definitely mess my head up.😭😭😭 Rest well bro.

This is sad.

XerXerz:
I still wonder why a sane person in this time and age would want to vote Tinubu

Tinubu is the best of them all. The only one with unconventional ideas for the economy.
Trust me, before the primary I was rooting for Osinbanjo/Amaechi and detested Tinubu then based on general hearsay. But after the primaries, I see a man who is quite organized. Just look at the way he organizes his campaign and activities compared to most other candidates.

Bede2u:
Will yorubas vote Tinubu if he was an Igbo man?

Why not? Tinubu is one of the best at the moment.

Shma2022:
Anyways, economy wise, Kenya needs time to catch up.

Buildings and infrastructure, Nairobi is bridging the gap.
Sporting facilities: Joburg takes it.
Pretty much everything is correct.

Population : Kenya is on a downward trajectory. We increase the economic growth rate while reducing population growth.

Don't compare a city with a country, Nairobi has more development than Ghana, and with more skyscrapers than Nigeria. It doesn't mean anything.
Lagos has bigger population than Kenya and huge GDP than Ghana as a whole.

Lagos population is just around 27 million but Kenya is 54 million.