₦airaland Forum

Nigeria will have GDP figures higher than several European nations by 2021.....however, when u visit Nigeria, you will be shocked to see that there is no development at all....they call it the Giant economy while it is the most useless country in Africa....Oil economies are very misleading....Angola, Sudan both have bigger GDp figures than Kenya but u cannot even compare these countries with mighty Kenya.... Kenya has way better infrastructure and modern looking cities....I pity my Africa

AfroCircus:
@ Aresa

Good long read with some facts here and there and misconceptions here and there too. But don't dismiss 'little' Kenya just yet

Per capita income is a terrible indicator of a country's development level largely because you a just dividing output by population and ignoring it's distribution. It's even more skewed for mineral dependent nations. HDI is the best indicator of a country's development level since it captures aspects like health, education, accès to electricity, nearness to paved roads etc. And in these, Kenya's HDI is 0.553 (middle human development) while Naija is at 0.517 (low human development) according to UNDP. No contest

End of last year, all Nigerian ports combined handled a total of 1.05m containers. That's less than the kenyan Mombasa port's 1.07m TEUs and that port just opened a 2nd container terminal with a .5m capacity this June...

I don't need to talk about electricity really we all know that

Paga for is far from the largest mobile money Co in Africa. Kenya's mpesa handled $56bn Mobile phone transactions last financial year

Nigeria has been exporting crude oil and importing refined petroleum, it's good a mega refinery is being built. But Kenya, without a single drop of oil since 1970 has been in fact exporting refined petroleum products to all its neighbors after importing crude oil and refining it in the country.

Nigeria's $12bn coast rail isn't Africa's largest public works, kenya alone already has 2 projects u/c exceeding it in magnitude and cost. The $13bn SGR whose phase 1 is 90% complete and phase 2is 5% through linking Kenya, Uganda, Rwanda and Burundi. Then the $24bn LAPPSET whose roads are 60% complete, all 3 international airports are 100% complete and construction of Lamu's 1st 3 berths is ongoing will link Kenya, Ethiopia and South Sudan.

Formal retail penetration in Kenya is 2nd only to SA in the entire continent. And these are Kenyan companies that outcompeted shoprite and Co not just in Kenya but in the entire East Africa region.

Kenya's 2016 budget ($23bn) is about the same size as that of Nigeria (N6.08trn/$18bn) despite the latter having 2 times the area and 4.5 times the population, a snapshot of prioritizing by the governments.

All in all, Nigeria is a big economy but not necessarily the more developed economy. Petroleum aids it's size directly (15% of gdp) and indirectly (70% of government revenue) and a shock in this sector causes the trouble we are seeing now.

News24 News. Breaking News. First
LAST UPDATED: 2016-12-11, 22:38
Top Africa stories: AU, Ghana, Zim
Tension is mounting in Ghana as the country awaits election results, and Joice Mujuru claims President Robert Mugabe knows of the circumstances that led to the death of her husband, Solomon.

Search
Cape Town
Sunny.
Sunday 17-23°C

Sunny.
3 DAY FORECASTBrought to
you by:

News
South Africa
World
Africa
Entertainment
Green
Health
Opinions
Voices
MyNews24
Columnists
Business
Markets
Personal Finance
Economy
Opinion
Small Business
BizNews
FinWeek
Sport
News
Rugby
Cricket
Soccer
Golf
Tennis
Formula1
Other Sport
SuperSport
Live Streaming
Video Highlights
Tech
News
Companies
Mobile
Opinion
Multimedia
Motoring
News
New Models
4X4
Formula One
MotorSport
Bikes
Your Wheels
Travel
News
Explore
Family Holidays
SA Holiday Guide
Weekend Escapes
Travel Planning
My Travels
Lifestyle
Health
Women
Motoring
Food
Travel
Entertainment
Parent
Volunteers24
Games
GameZone
Dating
Video
News
Sport
Entertainment
Motoring
Women
Food
Parenting
Travel
Health
Focus
Project Rise
Obituaries
Zimbabwe
Aids Focus
Good News
City Press
Competitions
isiZulu
Jobs
Property
City Press


Kenya overtakes SA as biggest investor in African countries
2016-07-29 13:23
What To Read Next


Dudu is dealt a blow


Stellies student's family 'still traumatised'


Two Australians dead in Kenya bus crash
Related Links
Open your market to Kenyan goods, President Kenyatta tells India
Kenyans are diligent, educated and hardworking, Uhuru tells Germans
Govt to allow foreign firms to retain full ownership
Nairobi - Kenya has overtaken South Africa as the biggest investor in African countries.

It invested in 36 projects in other parts of the continent last year, compared to South Africa’s 33.

According to a report by Ernst & Young, Kenya’s Foreign Direct Investment (FDI) also went up six positions - from 13th in 2014, to 7th last year - Daily Nation reports. The report added that 78% of financial and business services originated from Kenya.

Real estate, renewable and geothermal energy, as well as roads and railways, are the fastest growing sectors in Kenya, with local banks also venturing into volatile environments such as South Sudan and Somalia.

In 2015, East Africa achieved 26.3% of total projects, while in southern Africa, projects were down 11.6% from 2014 levels.

Earlier reports had ranked South Africa, Nigeria and Kenya as the most attractive investment destinations in Sub-Saharan Africa - in that order.

Ernst & Young, however, points out that economic growth across the region is likely to remain slower in coming years than it has been over the past 10 to 15 years.

Read more on: ernst & young | kenya | fdi | east africa | sub saharan africa

Join the conversation!
24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

Gambia's Jammeh to contest election result in court
2016-12-11 21:00

YOU MIGHT ALSO LIKE
The London Estates Even the Queen Couldn't Afford
The London Estates Even the Queen Couldn't Afford
Mansion Global
Meryl Streep's Movies Ranked From Worst to Best
Meryl Streep's Movies Ranked From Worst to Best
PrettyFamous
Farm Owner Warns Americans Living in Cities and Suburbs
Farm Owner Warns Americans Living in Cities and Suburbs
MoneyWise 411
Watch Jean-Claude Van Damme's Beautiful Daughter Take Ice Bucket Challenge (VIDEO)
Watch Jean-Claude Van Damme's Beautiful Daughter Take Ice Bucket Challenge (VIDEO)
Muscle & Fitness

MORE FROM NEWS24
Girls 'aged 7 or 8' stage suicide attack in Nigeria, 17 hurt
BREAKING: Dozens killed, wounded after church roof collapses in Nigeria
At least 45 000 homeless after Aceh quake
Woman survives lightning strike in Johannesburg
Level crossing crash taxi driver's parole suspended
PROMOTED STORIES
Hillary Clinton Buys House Next Door To Her Chappaqua Home Mansion Global
25 Names Nobody Wants to Name Their Kid Anymore MooseRoots | By Graphiq
Presidential Property: Where Do They Live After the White House? Mansion Global
Ranking the Most Influential Presidents in U.S. History InsideGov | By Graphiq
The plan to sabotage our new President... MoneyWise 411
Recommended by


INSIDE NEWS24


Should we only shower once a week?
We might all soon be washing differently.

Best destinations for 2017
The best travel destination in 2017 award goes to...

Spotlight: Teen suicide
What parents need to look out for.

Fast 8 is coming
'Race for speed & honour': Here's why you should watch Fast 8.

7 meds banned in SA
A popular allergy medication among several others, have been pulled off the market.

SAA's feisty few
A brave bunch scuppered Dudu Myeni's cunning plan.

"I make 60K a month without a degree"
Reader responses on the high-paying jobs they have that don't require a degree.

8 super flicks!
Top 8 flicks from the Wavescape Film Festival.

Welcome to News24


Get Published!UPLOAD





MOST READNEWS IN YOUR AREATOP LIFESTYLE
How Hlaudi sold the SABC
Dudu is dealt a blow
EXPOSED: The deep rot inside the broadcaster
Cyril steps up for Pres
Blitzboks stunned by England in final
More..

AfroCircus:
@ Aresa

Good long read with some facts here and there and misconceptions here and there too. But don't dismiss 'little' Kenya just yet

Per capita income is a terrible indicator of a country's development level largely because you a just dividing output by population and ignoring it's distribution. It's even more skewed for mineral dependent nations. HDI is the best indicator of a country's development level since it captures aspects like health, education, accès to electricity, nearness to paved roads etc. And in these, Kenya's HDI is 0.553 (middle human development) while Naija is at 0.517 (low human development) according to UNDP. No contest

End of last year, all Nigerian ports combined handled a total of 1.05m containers. That's less than the kenyan Mombasa port's 1.07m TEUs and that port just opened a 2nd container terminal with a .5m capacity this June...

I don't need to talk about electricity really we all know that

Paga for is far from the largest mobile money Co in Africa. Kenya's mpesa handled $56bn Mobile phone transactions last financial year

Nigeria has been exporting crude oil and importing refined petroleum, it's good a mega refinery is being built. But Kenya, without a single drop of oil since 1970 has been in fact exporting refined petroleum products to all its neighbors after importing crude oil and refining it in the country.

Nigeria's $12bn coast rail isn't Africa's largest public works, kenya alone already has 2 projects u/c exceeding it in magnitude and cost. The $13bn SGR whose phase 1 is 90% complete and phase 2is 5% through linking Kenya, Uganda, Rwanda and Burundi. Then the $24bn LAPPSET whose roads are 60% complete, all 3 international airports are 100% complete and construction of Lamu's 1st 3 berths is ongoing will link Kenya, Ethiopia and South Sudan.

Formal retail penetration in Kenya is 2nd only to SA in the entire continent. And these are Kenyan companies that outcompeted shoprite and Co not just in Kenya but in the entire East Africa region.

Kenya's 2016 budget ($23bn) is about the same size as that of Nigeria (N6.08trn/$18bn) despite the latter having 2 times the area and 4.5 times the population, a snapshot of prioritizing by the governments.

All in all, Nigeria is a big economy but not necessarily the more developed economy. Petroleum aids it's size directly (15% of gdp) and indirectly (70% of government revenue) and a shock in this sector causes the trouble we are seeing now.

Nigeria is just a useless giant economy....Egypt, SA and Kenya are the ones that are putting their economies to good use
despite being smaller

chrisooblog:
Guy you very funny only house girls watch nigerian movies is that why Kenyan TV stations only show naija content why can't you guys produce your own programmes to entertain your jobless housewives. Well unlike Congo when our musicians go for concerts all over Africa we shut things down. Let your wife/girlfriend hear davido is coming to Nairobi she will sell your car to buy a ticket to see him. I mentioned dangote just to let you know he's one of many nigerian business people doing great things. IT is another emerging industry which mark Zuckerberg acknowledged by coming twice to nigeria. Like I said earlier I know nigeria has a lot of improving to do which I've been man enough to acknowledge it unlike you pretending Kenya is all cool and shiitt whereas we know you have a huge poverty problem if not you guys wouldn't have Africa's biggest slums

tell them oo...nobody watches Naija movies

lots of Kenyans in this forum

What a sad story it is

Hilton hotel in Nairobi