Here is the nightmarish Accra to Kumasi road - connecting two most important shanty towns of Ghana - I think we need to reserve the Slumpolis for Nigeria cities like Lagos, Ibadan, and Abeokuta.
gallivant: Drill as much oil and gas as you want, in macro economics you will remain small fish. Just like Mauritania, Liberia, Gambia and other small shitholes surviving on hydrocarbons.
too bad all those countries you mentioned are better off than Kenyans
Kenya will forever remain in the league with Somalia
gallivant: Ghana is a small fish. The sooner you understand the sooner you will get out of the pond for safety. How bad can Accra be that you won't post it here?
go get your people in an economic position where they will be able to compare themselves to Ghanaians else they will keep living in the slumpolis of Nairobi and Mombasa
rvp20182: So you see our beautiful cities and you think tourism is all we do. My friend kenya economy is simple 25% is agriculture. Manufacturing 10%. Financial and Intermediation 10%. Real estate and construction 10%. Transport and comm 10%. Retail and Wholesaling 10%. Energy 10%. That is already 85%. The rest share the remainder..with tourism account for 1.5%...we get total earnings of 1.5B dollars. Last year tourism earnings were 1.6B in 100B economy (roughly) - so 1.5%!!
useless comment as usual
Tourism is responsible for 10% of all Kenya employment 1.5 million people
That is a cascading effect of loss of employment on your economy.
All the sectors you mentioned transport, real estate and construction thrives because of tourism and they were busy contracting last year.
rvp20182: Yes of course, we want kenya to become middle income country. South Africa, Namibia, Botswana, Mauritus - those are good examples. But GHANA come on dude.
Before you can become a middle income country like them You first have to catch up with Ghana .
By early next year, Ghana Nominal GDP per cap will be 3,000 dollars and PPP per cap between 9,000 - 10,000 dollars.
rvp20182: Yes of course, we want kenya to become middle income country. South Africa, Namibia, Botswana, Mauritus - those are good examples. But GHANA come on dude.
Before you can become a middle income country like them You first have to catch up with Ghana .
By early next year, Ghana Nominal GDP per cap will be 3,000 dollars and PPP per cap between 9,000 - 10,000 dollars.
rvp20182: So they didn't devalue because they want their exports to be cheap. The rand collapse has everything to do with a sick economy. Minning down. Capital flight. Name it.
If you want to know if an economy is doing good or bad - just watch USD VERSUS THAT COUNTRY CURRENCY RATE.
USD NEVER LIES.
The rand did not collapse
it was a controlled devaluation and this is dont to keep the competitive edge.
As more companies choose Africa as their next money making market, SA needs to keep that attractive competitive advantage that it has over all of Africa. This is the best time to do it, just so they dont loose investor confidence
all economic needs are different and no two economies is the same.
The mine in SA is less productive and that is why AGA is leaving SA.
rvp20182: Except they didn't devalue like Chinese. It's was a free fall as a result of capital flight. As you noted - even Anglogold Ashanti are running away to London.
rvp20182: We will be fine..1-2% - and our tourism is long haul travels - it is not meant for people who lose their jobs - because even air fare alone to Nairobi from Europe or US is a lot of money.
Exactly why your economy will take 4 years to recover
The people who will come as tourist have lost their jobs
rvp20182: Kenya is expected to grow by 1-2% this year and 6% next year - but COVID-19 is fluid situation. Nigeria is back to recession lasting years. Yours is double if not a triple whammy. COVID-19, Oil, and Buhari.
Kenya will not even grow by 2% next year because debt repayment will bite hard
and Tourism will not recover for the next 4 years because 25% - 30% of the developed world workforce have lost their jobs.
South Africa has already placed all the pieces in place to recover. They were doing that before COVID arrived hence they werent caught pants down like Kenya
rvp20182: If we are doing 1% - South Africa will do -10% - if we take 4yrs to recover - they will take 8yrs. Their economy is seeking,.