₦airaland Forum

Jonraid:
https://www.forbes.com/sites/mfonobongnsehe/2019/11/17/kenyan-steel-tycoon-narendra-raval-to-invest-110-million-in-roofing-sheet-plant/#4237f1373c0a

Some new development in the steel industry!

Meanwhile Devki is building a raw steel processor in Mariakani worth 450 million US dollars!

since when did Narendra become a kenyan name ?



you were busy saying Nigerians should own their economy

here you are celebrating an Indian

Jonraid:
Kenya's Safal Group is Africa’s largest producer of steel roofing

the biggest lie of the century

rvp20182:
So one guy has some nice imported cars and you think - it's reflect on the nation - 30yr old jalopies? Show me the dealership of Rolls-Royce in Ghana or Nigeria. Well, VW sold 32 cars in the entire country. 32 VW Polos

we dont need a dealership to buy rolls royce

we import them and pay duties like crazy

there is a reason why Eukor, Glovis and Autoliner
three roll roll ships berth at Tema every week

not forgetting the Grimaldi's vessels.

rvp20182:
If we are too poor why would luxury brands camp in kenya. The man from IMF colony - Kenya beat your refugee country Nigeria leave alone Ghana.

Kenyans spent 500m dollars on luxury goods. Nigeria 400M dollars. IMF colony of Ghana nowhere to be seen.

https://www.businessdailyafrica.com/markets/marketnews/Wealthy-Kenyans-push-luxury-spend/3815534-3893690-m8u2e7/index.html

This is Kenyan dealership of Porche at Sameer Business Park Nairobi
https://www.businessdailyafrica.com/image/view/-/3893706/medRes/1617979/-/maxw/960/-/ieow4y/-/porsche.jpg
https://kenyacarbazaar.com/blog/wp-content/uploads/2016/04/Dt3Uc3j.jpg

Jaguar & Range Rover dealership at Delta House Westland
https://fastly.4sqi.net/img/general/width960/21943804_1AhtEASnUvh6cq0jm0UtFUirp3DsN0FQPIP0SsKzoF0.jpg

show me a Kenyan driving any of them and i will show you a Ghanaian driving Cullman

rvp20182:
So if your king rides a ferrari then all over you are ridding it.

Again when it when it comes to LUXURY GOODS - KENYA IS 2nd to SOUTH AFRICA.

As at 2017, expensive car brands such as Porsche, Aston Martin, Bentley, Ferrari, Rolls Royce, Lamborghini, and Mclaren had their dealerships in several African nations like Kenya, South Africa, Nigeria, Angola, Egypt, and Mauritius.

but still you guys cant buy it


Here is West Africa, we dont need to have a dealership to buy those cars

rvp20182:
Like I told you, IMF has completely damaged your country. Minimally invasive heart surgeries is hardly something to come here and shout about. I can bet more than 10,000 have been done in kenya by now.

a damaged country is better than a collapsed economy that produces nothing

rvp20182:
You're too backward. Open heart surgeries are now being done by even "local" hospitals in Kenya. The first ones in Kenya were done in 90s..if not 80s.

The first open-heart surgery in Kenya, he says, happened in 1973 and was conducted by a Jamaican doctor who was also a lecturer at the University of Nairobi (UoN).
https://www.nation.co.ke/lifestyle/lifestyle/Still-saving-lives-fifty-years-later/1214-4896716-p8383n/index.html

In just Mater Heart Run = programme for poor kids with poor hearts.

The first successful “closed” heart surgery was conducted in 1995 by Kenyan doctors while the “open” heart commenced in 1996.

you are 15 years late

rvp20182:
You know this is 2019 right You know Kenya did some of these things in 1980s and 1990s.You know South Africa were leading the world doing heart transplants in 1980s. Please restrict yourself to West Africa backwater and don't misuse Africa.

your are talking about SA

talk about yourself


Ghana carried out it first open heart surgery in 1980 or 1985
search DR Frimpong Boateng

vaxx1:
Ghana keep getting it in medical science, few days ago, it was akomfo anokye teaching hospital performing surgery on human heart without opening the heart .now it is kole bu teaching hospital achieving another feet. ( The biggest hospital in west africa and third largest in Africa).


GHANA already established herself as medical tourist hub in west africa and soon she is capturing the whole africa....

The first abdominal aortic aneurysm repair was carried out in the Korle Bu Teaching Hospital. It was done with the patient completely awake..

You can read more from the ....Source: Dr. Teddy T. Totimeh.... just Google up...

we need to modernize our labs and change our laws to allow for our biomedical scientists in Germany to return permanently

doing this will allow us to carry out gene editing at the sub-molecular level (DNA)

rvp20182:
Picture break - Nairobi traffic - Busy but moving. You can tell cars are way newer than Nigerian or Ghanaian jalopies.

something is wrong with your head

samorobo:
Screenshoted YouTube images of "MALLS AND SUPERMARKET SHACKS" were average kenyan shop.....



Mall KO,cinema Ni ;Dmtchewwww noise makers

i was too ashamed
that is why i didnt post the shame Nappie revealed from the bushy clubs in kenya

rvp20182:
I think if they stayed here, went to local university, got local jobs, they would contribute a lot more good to their economy and families - than if they sent occasional dollars while building economies of abroad - both thro their careers and spending most of their earning there. The remittance will stop after one generation - their kids will cut ties with Nigeria. I only support sending a small % of kids abroad to the best universities out there - not community college riffraff- and bringing them back as soon as they graduate...or sending them for post-graduate - and bring them back to find or create jobs.

this is only a backward way of thinking

When they go out there
they get better education and become highly skilled in Engineering and Maths

they come back and contribute far more than you can imagine.

TayserMahri:
So mastercard captures all data?? Why are you being a professional slowpoke?? What about all those people without mastercard??

as long as you are using their card

they can capture data on you

TayserMahri:
What is Ada?

A beautiful place where everyone wants to visit

TayserMahri:
Stop lying just30. Accra is only known in West Africa and Wikipedia

Accra is well known than your entire country

TayserMahri:
What will they come to see in Ghana?

culture
history

safari

they will come an partake in a society that is accepting of them
an economy that is thriving and is full of opportunities.

TayserMahri:
How?? In your head.

by real size

you dont have to be emotional

this is just fact

TayserMahri:
Must be very enjoyable being a idiot. Are you saying you don't register visitors in Ghana? What a banana republic. Kenya registered 2,025,206 visits in 2018. Thats the figure collected from the various entry points, airports, ports, border entry points etc. If Ghanaians must rely on Mastercard to tell who visited their country then you can see why your country is a failed state. A modern day slave to multinationals and IMF.

yet you only earned 1.5 billion dollars

whiles Ghana received 1 million through it airport and earned 2 billion dollars

rvp20182:
Kenya was leading until I think 2012 or around - we use to send 7,000 students to the US - but we fixed our education. This is how Ghana and Nigeria loses forex. Sending student all over the world to school is sending forex all over the world. Australia for example I think education forex is probably 2nd largest source after minning. Build universities locally.

you are as dumb as it gets

you were never leading anything
you guys are too poor to afford to send your children to better schools in the US, UK, GERMANY or RUSSIA


having good schools cannot stop the quest for
highly skilled science, tech and engineering literate workforce.


this is why you do not have any productive capacity in your economy.

China has some of the best universities ranking along the likes of MIT

but will still send millions of students to the US for education.

the answer is wealth

rvp20182:
You nailed it's Kantakataka mindset. I knew they we never serious when they defended that Kantaka .car manufacturer. I think I need to visit West Africa - I am intrigued by their mindset (or mindlessness).

Kantanka is still better than anything you have in Kenya

they are selling more cars than Kenya will ever be able to produce

rvp20182:
It's actually Tuesday. I think you should rest man. I'd rather China take a port like Srilanka on 99yr concession. The port is still in Srilanka and is part of SriLanka. It's just China running it. Than have IMF terror squad on Ghana. I see you even signed off military base for 20M dollars - must be CIA pulling the strings from DC.

i will rather take IMF than have China run anything in my country.


Your port authority is too poor that is why they had to go and borrow from China to build a port.

rvp20182:
Breton wood institutions offer competitive zero interest long maturity loan like China. The difference China do not offer conditionalities or poke noses into your national affairs or worse tell you to cut budget spending on critical social services like education, health etc.

China will ask for a collateral - or ask you to put heavy insurance - and that is all. Ghana is just about done with 2.5B dollars from China with Bauxite as collatoral.

My beef (and I guess everyone beef) with IMF & WB - 1) their interference of internal affairs of independent countries and 2) Their very tiny balance sheet...China can lend you 10B dollars...IMF is running Ghana because they lent you 1.5B dollars. and 3) US & EU stranglehold of both - stopping attempts by China or Japan to finance IMF & WB so it can truly become global financial institution they are suppose to be.

And 4) - US gov (CIA) especially uses IMF & WB to pull through underhand deals - including regime changes or having Ghana as military base.

That is why I really pity Ghanians when I imagine IMF has terrorized your country for a record 16 times so much you have fallen in love with them.

Classic Stockholm syndrome.

Kwame Nkurmah must be turning on his grave. The independent Ghana has become a colony of Washington DC.

Ghana did not collateralized bauxite

Ghana collateralized Aluminium, the product of Bauxite to the Chinese market

So basically, we will mined bauxite
process it at VALCO and the Chinese are compel by the agreement to take it as payment for their loan.


that is smart borrowing.


IMF can not run Ghana
they never have


they know Ghana does not follow their recommendations
but they have no option than to lend to Ghana.

IMF loans have better conditions than those of China where you will have to collateralize Mombasa port and your state house
including your seat of government.

China will basically undermine your economy so that you wont be able to pay and then they will take everything of value from you.
Mind you, China is playing in the Big leagues now and they are looking for a port for the navy so that they can project power.

rvp20182:
I see you're repeating debt propaganda on SGR & China - actually regurgiating western propaganda against fast emerging China.

Let me help for then 10th time understand our SGR loan.

We borrowed about 4.5-5B dollars from China to build SGR from Mombasa to Nairobi and now to Naivasha - including rolling stock, two dry ports (Nairobi, Naivasha) in 2014. Unlike Nigeria and other laggards...we completed the 500-600kms railway in record 3yrs.

Before we borrowed the loan - we planned to raise 15% of the total project cost - because China normally do not finance land acquisition and such - so we started collecting Railway Development Levy as early as 2010. That RDL annually collects now about 30B kshs (300M dollars) - that is more than enough to pay China.

What are our loan terms with China (Exim bank of China) - half the loan is commercial (2% above LIBOR) and half the loan is concessionary (nearly zero interest maturing in 20yrs). We also got 5yr grace period for commercial loan and 7yr grace period for concessional loan. The idea is the railway in initial years will start slowly - and won't break even the first 7-10 yrs.And we also put in a huge insurance with Chinese in case of non-repayment.

Now according to projections we had with Chinese - the railway would no break even - for first nearly 10yrs - and yet 3yrs later - our SGR is approaching break point. It already has carried 3.5m passengers and 5 million metric tonnes - in the first 2-3 yrs of operations. We are running 14 trains every day both ways - about 28 cargo trains daily.

Now compare say to Ethiopia - that is still running 1 or 2 trains - and has asked China for loan extensions.

So before we ever come to defaulting in SGR
1) SGR will break even - and hopefully pay for itself
2) Railway Dev Levy - will pay for it -1.5% (now increased to 2%) of all imports (except raw materials) - will be use to pay for it.
3) We will ask Chinese to extend the loan terms
4) Kenya Port Authority (with annual revenues trending towards 1B dollars soon) - will pay the Kenya Railways(Not china) - if they don't have cargo.
5) Treasury will uses our taxes to repay China.
6) Insurance will pay for it. We paid a huge commission to SinoSure.
7) We will default - in year 3030.

since you dont know what breaking even is
let me explain to you what breaking even is.


the operation cost of the SGR is 12.5 billion shillings
the SGR is doing 5 billion shillings .

it has to start paying China sh 34.3 billion shillings next year

you will have to find that money elsewhere (borrow) to service the commercial part of the Chinese loan.
whiles you are borrowing to pay the chinese, you will also have to borrow extra 7.5 billion shillings to keep the SGR running every year.

rvp20182:
Provide a link and we can have a fruitful conversation. Yes Ghana export tonnes of minerals - heck the country name is GOLD COAST - and kenya doesn't - but there is no denying that kenya is a sophisticated economy for it's size.

We have survived for what 60yrs with negative trade deficit - it's a non issue. Ghana has called IMF 16 times every time commodity prices have collapsed in the world market. You admitted your economy is still largely primitive, informal and black market.

We know where to get the forex to bridge the 11B dollar deficit. KQ for example bring forex from Ghana to Kenya. Kenya companies all over East, Central and South Africa bring forex. The fact that Kenya is seen as safe and stable haven - bring lots of forex from the region. We also know lots of Africa operations by MNC are running of Nairobi - they ship forex to Kenya.

Ghana does not just export tonnes of minerals
but also tonnes of manufactured goods.

which is almost twice the export of Kenya.
which Kenya company bring forex from central africa or East Africa?

Running and office in Kenya does not bring any benefit to your economy
because salaries are negligible.

rvp20182:
You're just confused fellow typing nonsense. Your airport and seaport; like you seriously want to compare yourself with Kenya?

Kenya debt market is mostly local debt - we are careful with external debt because of exogenous currency risk - so Kenya might have 60B dollars debt - but about 35 of that is owed to kenyans - and are denominated by KShs. CBK can just print Kshs and pay that off. The 25B dollars is external debt - about 1/3 of that 25B dollars is public guarantee to gov parastals - we never have to repay unless they go under. So that leaves us with about 15B dollars of debt - split btw commercial and concessionary loans - all mostly with long tenures...maturing in 50yrs.

In short - we don't have any debt repayment problem - monthly our total debt repayment comes to about 35-40B Kshs - and we collect about 120B d from taxes - we also borrow about 34-50 billion - so in short we have no problem at all.

Ghana has to start attracting investment outside minerals and natural resources...and we can talk about you having a MODERN ECONOMY.

Look at even low hanging fruit like ICT - NOTHING IS HAPPENING IN GHANA - LAGOS is doing great - so is Nairobi.

investments in Ghana goes to the manufacturing sector


your are highly funny


Your government 30 billion local debt cannot be paid in kshs
unless you want to tell me it used TBILLS as a tool.

rvp20182:
I am not sure where you are getting the data about exportable services. Ghana problems mirrors Nigeria - Zambia, Angola, name any africa country dependent on commodities.

If today you wake up - Aluminum prices are down by 30%, Oil down by 30%, Bauxite by 30%, Cocoa by 30% - Your country forex will be whipped out in a few days. You currency will depreciate so fast - and IMF will come for 17th rescue mission.

The reason why Kenya sits comfortably without any worry in life is because we have a VERY WELL DIVERSIFIED ECONOMY with very STRONG DOMESTIC ECONOMY.

We will only worry if we go into a civil war or a huge disaster.

when a Kenyan say they have a diversified economy then you know that something is wrong with the person head

You dont produce anything in Kenya

not rubber
not pipes
not aluminium


a diversified economy does not run a 13 billion dollars import-export difference

rvp20182:
I am not sure where you are getting the data about exportable services. Ghana problems mirrors Nigeria - Zambia, Angola, name any africa country dependent on commodities.

If today you wake up - Aluminum prices are down by 30%, Oil down by 30%, Bauxite by 30%, Cocoa by 30% - Your country forex will be whipped out in a few days. You currency will depreciate so fast - and IMF will come for 17th rescue mission.

The reason why Kenya sits comfortably without any worry in life is because we have a VERY WELL DIVERSIFIED ECONOMY with very STRONG DOMESTIC ECONOMY.

We will only worry if we go into a civil war or a huge disaster.

all those things can go down in price by 50% and it will still not affect our currency
because we will immediately import substitute and still keep a surplus.

vaxx2:
We even do more on forex exportable service than you .... we are currently doing over 7.5 billion dollar against your weak 5 billion dollar .... we have boost our reserve above 10 billion dollar and we are making sure not all goods that can have effect on forex exchange are bought in dollars . that is why we are trying to be independent here . we have reduce many importation and we are still doing more...

Your weak current service export does not mean that the excess of value in terms of export is made available to kenya . The excess in value of export may be for interest payments for loans contracted or bonds issued or the Chinese loan you borrowed so you can only stabilized it with another loan from elsewhere.


so what your country is doing is debt to debt which will soon exposed you...

there is a reason why he hasnt mentioned tourism

i was even thinking they make up for the 13 billion dollars difference between import and export in tourism

not knowing tourism only contributed 1.5 billion dollars to their economy.

Basically their economy is a scam and their gdp is highly questionable.

rvp20182:
Learn to use hyperlinks.

Okay what is your understanding of exportable service sector - or you mean remittance from Ghanians abroad?

Kenya's Nairobi is the region financial capital. That bring a lot of dollars for starters.
https://www.ft.com/content/367907d0-d558-11e9-8d46-8def889b4137
So far this year, the country has attracted 54 projects totalling $2.9bn in announced investments according to fDi Markets, a Financial Times data service that tracks greenfield cross-border investment.

bring dollars from where?

rvp20182:
Check the source of your data again. There are no forex controls in kenya. Kenya is not a dollarized economy.

There are no unregulated forex - and regulation is minimal - Capital requirement of 20M kshs, to have Know Your Customer(demand Identification) and for them to just report their deals of more than 10K usd to CBK - and nothing more than that.

Most people buy forex from their banks. There is no need to ever find yourself in Central Bank - and nobody has even run out of forex to import anything they want.

And there is no drama when it come to dollars or any foreign currency in kenya - You buy as much as you want and take them to Ghana - to help shore your CEDIS.

Guy go and educate yourself on your economy

telling me Kenya is not a dollarized economy is the biggest joke of the century.


our Cedi is okay
worry about the kshs
you have reached your borrowing threshold such that your dumb MPs even want you to borrow to 100% of GDP

rvp20182:
It helps our Central Bank Governor is former senior staffer at the IMF so he understands when junior economist send to kenya tries their monkey business. In any case when is KSHs devaluing?- it been nearly two years since IMF claimed it was overvalued?

Yes kenya has Africa highest trade deficit of 11B dollars...but trade is not only way to get dollars. When you have an well-diversified sophisticated economy like kenya - you do not need to export Gold or Oil to earn Forex. We earn lots of Forex from 'exportable' services sectors.

We have very healthy forex reserves - playing around 6 months of import bill - 9B dollars - way above the recommended 4 months cover.

which economy are you referring to as a well-diversified economy?

Kenya has no productive capacity

where will forex come from apart from tourism ?
Last year, you earned 1.5 billion dollars from tourism

500 million less than what Ghana earned


your economy is funny and filled with fraud everywhere

rvp20182:
Forex dealers are in kenya are regulated to protect consumers, ensure they are no illicit flows or money laundering. There are no Forex controls.Those two are not mutually exclusive. There is nothing you can teach me in any serious subject - except maybe Yoruba customs & voodoo.

what is your understanding of forex control