₦airaland Forum

rvp20182:
Kenya is immune to global financial crisis - in fact we benefit because oil prices goes down

Our economic trouble of 2007/2008 were LOCAL - we had a near civil war which led to death of a thousands kenyans, internal displacement of 0.6M & destruction of properties following election dispute.

That election crisis that Kofi Annan came to resolved slashed our growth from 7% to 1.7% - but by 2009 we were back up.

naa The economic trouble was mostly because of the global financial crisis

it just happens that you had another barbaric election again
Everyone knows those things are cyclical when it comes to Kenya.

Austine1213:
Dude let's stop the hate, telling no bias, let's forget that Ghana is some what Nigeria's son

Lets forget the slum next to Nairobi

Nairobi CBD and suburbs are better than that of Accra.
Accra has an Authentic African village feel.

In my opinion

until you go on the map to see what you call better
you will only be deceiving yourself.

Theenchanter2:
with muddy and thatch houses in ur capital.

Kwantinue.

you took the words out of my mouth



I kept wondering why anytime it rains, the Whole Nairobi becomes so muddy
until i found out that all the roads in Eastleigh and WestLan, Parklands and etc are muddy roads

Austine1213:
More over these are just municipal councils not necessarily towns

Many listed are sections of one city

you know

kenyans are just lazy with loud mouth and feets

rvp20182:
Of course - just like your townships and villages

so now you want to compare yourself to SA

even little bloemfontein is better than your entire country of muddy roads

so you knew all of these
the remaining are big slums

Austine1213:
90% of those are just big rural towns

you sound funny and stupid as always

try stopping development for even 6 months and see if your economy wont become like Zimbabwe
You've forgotten that you are in a debt circle that can only get worse because you can never stop borrowing.
Why? government workers salary depends on the amount of money you borrow.


another financial crisis is coming and your economy is too exposed just like it was in 2008.

rvp20182:
Zambia (and their kwacha) and Ghana (with their cedis) are historical siblings in Africa mismanagement of economies. Both of your countries depend on minerals (copper for Zambia) and Aluminium (for Ghana) to stay afloat. The story is so similar - boom time when copper or aluminium prices are high - and gnashing of teeth when it crashes.

As for kenya - when we generate 21B dollars of revenues without any MINERALS (meaning we don't suffer commodity boom & bust) - what is China total loan of 7-10B dollars

We can stop development for 1yr - and pay off all Chinese loans at one go - if we ever wanted.

Bottomline - We have one of africa most advanced well diversified economy.We breeze through global crisis like nothing

rvp20182:
Your best city - Accra - with third largest building with 12 floors - is definition of a slum. Yes compared to South Africa - we are not yet there - but Ghana - or Tanzania or Nigeria - we are better than those.

hahaha

more dreams

you cant be better than any of the countries when your capital city has just 400km of tared roads and your entire country having just shy of 10,000km of tarred roads or an energy consumption per capita less that that of TOGO.

rvp20182:
Wealth-X has the reputation of who again? AfriAsia at least is a big bank - now wealth-x is a start up with zero credibility. We have credit suise (Big global bank), Knight Frank (global real estate) firm - all saying Kenya is better than Nigeria per capita in number of millionaires and wealth.

you are funny and stupid

there is nothing like millionaires per capital

slums in the global criteria

rvp20182:
We have cities - Nairobi, Mombasa, Kisumu, Nakuru & Eldoret - possibly Thika - meeting our city criteria.
And then we have many towns - that are more than 100

6. Kehancha Municipality 256,086 Migori [4]
7. Ruiru Municipality 238,858 Kiambu [4]
8. Kikuyu Town Council 233,231 Kiambu [4]
9. Kangundo-Tala Town Council 218,557 Machakos [4]
10. Malindi Municipality 207,253 Kilifi [4]
11. Naivasha Municipality 181,966 Nakuru [4]
12. Kitui Municipality 155,896 Kitui [4]
13. Machakos Municipality 150,041 Machakos [4]
14. Thika Municipality 139,853 Kiambu [4]
15. Athi River (Mavoko) Municipality 139,380 Machakos [4]
16. Karuri Town Council 129,934 Kiambu [4]
17. Nyeri Municipality 125,357 Nyeri [4]
18. Kilifi Town Council 122,899 Kilifi [4]
19. Garissa Town Council 119,696 Garissa [4]
20. Vihiga Municipality 118,696 Vihiga [4]
21. Wote Municipality 116,696 Makueni [4]
21. Mumias Municipality 116,358 Kakamega [4]
22. Bomet Municipality 110,963 Bomet [4]
23. Molo Town Council 107,806 Nakuru [4]
24. Ngong Other Centre 107,188 Kajiado [4]
25. Kitale Municipality 106,187 Trans-Nzoia [4]
26. Litein Town Council 104,600 Kericho [4]
27. Limuru Municipality 104,282 Kiambu [4]
28. Kericho Municipality 104,282 Kericho [4]
29. Kimilili Municipality 94,927 Bungoma [4]
30. Awasi Other Centre 93,369 Kisumu [4]
31. Kakamega Municipality 91,768 Kakamega [4]
32. Kapsabet Municipality 91,030 Nandi [4]
33. Mariakani Town Council 89,321 Kilifi [4]
34. Kiambu Municipality 88,869 Kiambu [4]
35. Mandera Town Council 87,692 Mandera [4]
36. Nyamira Town Council 84,239 Nyamira [4]
37. Mwingi Town Council 83,803 Kitui [4]
38. Kisii Municipality 183,000 Kisii [4]
39. Wajir Other Centre 82,800 Wajir [4]
40. Rongo Town Council 82,066 Migori [4]
41. Bungoma Municipality 81,151 Bungoma [4]
42. Ahero Town Council 76,828 Kisumu [4]
43. Nandi Hills Town Council 73,626 Nandi [4]
44. Makuyu Town Council 71,913 Murang’a [4]
45. Kapenguria Town Council 71,477 West Pokot [4]
46. Taveta Town Council 67,505 Taita-Taveta
47. Narok Town Council 67,505 Narok [4]
48. Ol Kalou Town Council 66,015 Nyandarua [4]
49. Kakuma Other Centre 65,814 Turkana [4]
50. Webuye Municipality 65,280 Bungoma [4]
51. Malaba Town Council 63,324 Busia [4]
52. Mbita Point Town Council 62,974 Homa Bay [4]
53. Ukunda Other Centre 62,529 Kwale [4]
54. Wundanyi Other Centre 62,404 Taita-Taveta [4]
55. Busia Municipality 61,715 Busia [4]
56. Runyenjes Municipality 61,604 Embu [4]
57. Migori Municipality 100,000 Migori [4]
58. Malava Town Council 60,831 Kakamega [4]
59. Suneka Town Council 60,730 Kisii [4]
60. Embu Municipality 60,673 Embu [4]
61. Ogembo Town Council 60,289 Kisii [4]
62. Homa Bay Municipality 59,844 Homa Bay [4]
63. Lodwar Municipality 58,218 Turkana [4]
64. Kitengela Other Centre 58,167 Kajiado [4]
65. Ukwala Town Council 57,081 Siaya [4]
66. Keroka Town Council 54,655 Nyamira [4]
67. Meru Municipality 53,627 Meru [4]
68. Matuu Town Council 53,144 Machakos [4]
69. Oyugis Town Council 52,354 Kisumu [4]
70. Nyahururu Municipality 51,434 Laikipia [4]
71. Kipkelion Town Council 49,939 Kericho [4]
72. Luanda Town Council 49,346 Vihiga [4]
73. Nanyuki Municipality 49,233 Laikipia [4]
74. Maua Municipality 49,012 Meru [4]
75. Mtwapa Other Centre 48,625 Kilifi [4]
76. Isiolo Other Centre 46,128 Isiolo [4]
77. Eldama Ravine Town Council 45,799 Baringo [4]
78. Voi Municipality 45,483 Taita-Taveta [4]
79. Siaya Municipality 45,353 Siaya [4]
80. Nyansiongo Town Council 45,313 Nyamira [4]
81. Londiani Town Council 44,953 Kericho [4]
82. Iten/Tambach Town Council 44,448 Elgeyo-Marakwet [4]
83. Chuka Municipality 43,470 Tharaka-Nithi [4]
84. Malakisi Town Council 41,784 Bungoma [4]
85. Juja Other Centre 40,446 Kiambu [4]
86. Ongata Rongai Other Centre 40,178 Kajiado [4]
87. Bondo Town Council 39,224 Siaya [4]
88. Moyale Other Centre 37,387 Marsabit [4]
89. Maralal Town Council 35,472 Samburu [4]
90. Gilgil Other Centre 35,293 Nakuru [4]
91. Nambale Town Council 34,735 Busia [4]
92. Tabaka Town Council 34,724 Kisii [4]
93. Muhoroni Town Council 34,457 Kisumu [4]
94. Kerugoya/Kutus Municipality 34,014 Kirinyaga [4]
95. Ugunja Town Council 33,878 Siaya [4]
96. Yala Town Council 33,646 Siaya [4]
97. Rumuruti Town Council 32,993 Laikipia [4]
98. Burnt Forest Town Council 32,649 Uasin Gishu [4]
99. Maragua Town Council 32,315 Murang’a [4]
100. Kendu Bay Town Council 31,699 Homa Bay [4]

rvp20182:
The problem is not the creditor. You can borrow from China or IMF - but if you're not prudent - you will get into the usual nearly predictable problems that Ghana and Zambia have got into since 1960s.

Kenya is unique story of prudent financial management.

Speaking of China - you already mortgaged your bauxite & aluminum to China - WHO DOES THAT?

Like Zambia like the SGR
no profit.
I hear your government is now putting a patriotic tax on Kenyans just to be able to pay some part of the Chinese loan that is due this year.
how backward.

anyway, Ghana aluminium deal is not a mortgage agreement with China.
We have effectively created a market for our 400 billion dollars Bauxite and aluminium industry.

rvp20182:
The trick is having a ROBUST DOMESTIC ECONOMY with private consumption as good as Kenya for our level of development

let see who consumes more
we already know Ghana has a huge consuming economy larger than kenya.
PPP has already proven that.

next joke pls

Austine1213:
When you say everybody who you talking about?

Which cities in Kenya? I'm not talking about big towns

okay that hurts



little indians might just block you

rvp20182:
The same way everyone talk about Joburg & Cape Town mostly when discussing South Africa. Obviously we have other cities and towns.

I can mention more than 10 cities that are actually developed in SA

I cant even mention one when it comes to kenya because everywhere in your country is deprived of roads

Austine1213:
Mombasa is a promising port city though

People should just stop posting same old pictures in different angles. Digitaly enhanced pictures phsss

It doesn't change the way the reality

Tell the Kenyans

They are the ones repeating pics every morning.

Anyway, have you seen the reality?

Far better than falling into a Chinese unpayable debt trap

ask ZAMBIA and you will learn a thing or two

rvp20182:
Face-saving golden stool sitting clown. Read this slowly.

The program
https://www.imf.org/en/Countries/GHA/ghana-lending-case-study

In early 2015, Ghana turned to the IMF for a $918 million loan to help stabilize the economy. IMF advisors, working with the Ghanaian government, developed a three-part program:

Restore debt sustainability. The government limited hiring and wage increases and eliminated subsidies for utilities and petroleum products. To raise revenue, it cracked down on tax evasion and rationalized exemptions. New revenue sources included a tax on luxury cars and increased taxes on high earners. To put Ghana’s finances on a sounder footing, the new Public Financial Management Act called for improved accounting standards, procedures, and technology.
Strengthen monetary policy. The authorities agreed to gradually end central bank financing of the budget deficit—a major source of inflation—and to fortify the inflation-targeting regime.
Clean up the banking system. An asset quality review revealed significant under-capitalization. Some banks were recapitalized, and the Bank of Ghana used its newly enhanced authority to wind down insolvent lenders. The central bank developed regulations to ensure that banks meet sound underwriting and credit evaluation standards. It also paid back insolvent microfinance institutions’ depositors.

samorobo:
What does Kenya produce? Tea and flower...

You import $15bn worth of machinery annually and produce $1bn worth of goods

that is useless




actually they import 20 billion dollars worth of goods now

The Kenyans are so pissed that they have nothing on the table

samorobo:
At the end of the day, kantanka is breaking boundaries and also making profit..those shouting rebadge can kiss my ass

Austine1213:
Is Nairobi and Mombasa all Kenya has to offer?

No pun

just nairobi

Ghana is just crazy beautiful mer


https://www.youtube.com/watch?v=ZU0MvB_liAM

https://www.youtube.com/watch?v=1e4EysIipE8&t=400s

https://www.youtube.com/watch?v=8cwKRBgouew

https://www.youtube.com/watch?v=bx5uws5W3vQ

https://www.youtube.com/watch?v=gC0usFVa3Es

TANZANIA WAS SMART ENOUGH BUT THIS AWAIT KENYA



The “debt trap” narrative isn’t going away. And what’s happened recently in Zambia bolsters such criticism against the CCP.

Zambia, which has had trouble paying the debt it owes the regime, reportedly has offered major state assets as collateral. The exact amount Zambia owes Beijing is debatable—the U.S. government claims the figure could be as high as $10 billion, but Zambia, according to a December 2018 Reuters report, claims that only $3.1 billion is owed.

The real debt figure is unknown, as “much of its debt to China has not been fully accounted for, an exercise the Lusaka exchequer is not anxious to complete, for fear of the alarm the figures would cause,” Africa Confidential reported.

Zambia held talks with the CCP regarding handing over ZESCO, the state utility company, to China as payment in kind, sources told the newsletter.

“China is already in control of the country’s broadcasting company, ZNBC. There are also fears the main airport in Lusaka could be the next target.”

Attitudes regarding China’s presence amid Zambian media is highly polarized, with an increasing number of headlines critical of Beijing’s motives, as well as the quality and longevity of Chinese-led projects.

Some African countries are beginning to push back against China’s predatory strategy.

In mid-2019, Tanzania suspended plans to team up with China to construct East Africa’s biggest port in Bagamoyo, Tanzania. China Merchant Holding International was slated to be the sole port operator.

Citing disagreements with Chinese investors over “exploitative and awkward” demands, Tanzanian President John Pombe Magufuli called off the project.

“They want us to give them a guarantee of 33 years and a lease of 99 years, and we should not question whoever comes to invest there once the port is operational. They want to take the land as their own but we have to compensate them for drilling construction of that port,” Magufuli told The Economic Times of India last year.

Beijing also demanded from Tanzanian government loss compensation during the project, as well as tax and customs duty waivers.

Tanzania’s rejection of the Chinese regime follows the cancellation of a Chinese-funded project in Sierra Leone in 2018.

A proposed $320 million airport—to be financed by Beijing—outside Sierra Leone’s capital of Freetown was scrapped in late 2018, after the country deemed the project to be uneconomical and unnecessary.

Ghana last IMF programme was not a balance of payment programme but a face-saving program to win back investor confidence during a power crisis. The money went to provide government counterpart funding in some of the power projects.

You are so desperate

Get your country back from the crushing terms of agreement you have with China
And you may be as developed as Ghana.
Thats if your politicians put kenya first

rvp20182:
Talk is indeed cheap.

1) Ghana was just recently under IMF's -Extended Credit Facility - as part of it's 4 yr bailout programme

2) What is IMF's ECF - The ECF is a lending arrangement that provides sustained program engagement over the medium to long term in case of protracted balance of payments problems.

3) Apart for a brief period in 90s (93-96) - kenya macro-economics have always been very strong. We've breezed through all the economic global crisis of late.

I am not sure what you mean by 2008 - unless you mean the economic slowdown due to our protracted election pogrom.

Conclusion - You're just a few months from another IMF bailout with your sibling Zambia.

You're going to oscilliate between...hating and loving IMF

"The decision to be independent of IMF budgetary support is a watershed in the history of the country’s economic development."
"We won’t go to IMF again; Ghana will no longer be troubled by conditionalities of IMF."

And next year - you new gov will be pleading for IMF rescue.

rvp20182:
Kenya macro economics have not changed for like 50yrs so we might the longest pyramid.We have trade deficit but never current account deficit that serious.We never have any problem with settling our balance of payment in international trade unlike Ghana..who have to ask for IMF rescue

Ghana has never had a balance of trade settlement issue since the 90s

Tell that lie to your central bank
They run a 116 billion shilling current account deficit .

but that is not the real challenge to your economy
The real challenge comes in when you will have to break free of the debt that is swallowing your economy which is not too long from now.
and then your pyramid comes crashing down.

You guys will feel so much pain when this upcoming financial crasis set in fully.
This one will be worse than the 2008 one.

rvp20182:
All your exports..don't have any elasticity of demand..so you're getting hit with expensive imports and debt you can no longer repay.Locally a cocoa farmer or relative receiving remittance won't also benefit because of the double digit inflation

hahaha

like i said, we do not import dependent
so it makes not impact.

The kenyan economy is the one in a loop of debt that it wont finish paying because it has to borrow 15 billion every year in loans or aid to finance it budget every year.
And later borrow again to for the central bank to have more money to fill in the gaps because of the huge trade deficit it has to carry because Kenyans are lazy.

This pyramid your central bank is building can only end badly.
We all saw Turkey last year

rvp20182:
How many ounces of gold does this golden stool have?

convert 243 billion dollars to ounces at curren gold value and you will know.

rvp20182:
But your importers become more expensive and external debt a mountain to climb.Now tell me what you export outside cocoa, the dying tullow oil and aluminum..does have of those have any elasticity in demand..like the cheaper the cocoa the more the Swiss will buy or oil? Obviously not.

we dont import much

so it is no big deal.
Most of the goods we import have substitutes here.
The Challenge is now on importers to exit the import business and enter the manufacturing space.

For that reason, Ghana's import has gradually reduced whiles export has increased.
The foreign debt of Ghana is less than 50% of Ghana's total debt so it is not a big deal also.

The only problem is that, debt servicing on those foreign debt goes up.
This is also not a problem especially when your exporters are bringing in more dollars.

You sound funny and stupid at the same time

Tallow is not dying, it only had a challenge last year because
The gas it was generating was not being used so it had to repump it back into the oil well.
This cause a reduction in the amount of oil it sold last year.

That challenge has been fixed as we moved the 700MW power barge from our eastern coast to our western coast
Thereby making all the free gas on the western coast available to it. Problem solve
When you have enough(belly is full) you dont really have a problem.

gallivant:
No truce. They have pay us 50 billion dollars if they want peace.

i know you are poor
but aint no body going to bail you out of that poverty.

you've got to work for it.
lazy ass

gallivant:
That is exactly what it means.

Economics 101

you are so dumb such that i always have to teach you something

The depreciation of a currency only deals with the rate at which one currency is exchangeable for for another currency.
And that is just face value

It has nothing to do with the actual value of the currency.


This means very little when the economy in question is an export-led economy
Exporters make more money.
Anyway, you wont understand it especially when you live in a country that is soo import-dependent such that it run an 18 billion trade deficit.

rvp20182:
who did the valuation

CBG

NairobiWalker:
Learn some simple lower primary school mathematics firsts before trying to understand whats happening in a country over 5000km from yours.

Even my little cousin will teach you maths for free.

dumb dumb

simple addition and subtraction and common english
you cant understand.

not surprised though

kikuyu1:
Omfg!?

get this first

this is why Ghana is more productive than you

Kantanka says 13k orders secured from 3 African countries


Kantanka Auto, Ghana’s first domestic car manufacturing company, says it has secured 13, 000 orders from three African countries to help grow the local industry.

The company, a unit of Kantanka Group, had its first production models built under its own badge hit the streets in 2016.

Kantanka has hence earmarked million for the project.



Kwadwo Safo Jnr, CEO of Kantanka Automobile, showed off his ‘Kantanka Mensah’ at the Starrfm’s maiden program ‘Time With The CEO’ last month and revealed that the company has so far received over 13,000 orders from three different African countries in West Africa.