₦airaland Forum

rvp2018:
You're wasting your time hoping kenya will join Ghana . Try Nigeria.
Kenya is Africa most resilient economy that has braced through all sorts of crisis including 1990 sanctions.
That is why we have one longest democracy and you see Nairobi - and you cant believe it.

Kenya is not your typical SUB SAHARA economy that depends on nonsense like minerals

Kenya revenues in 5 months - up 10%
Last year it improved from 1.69 trillion to 2.03 trillion.

This year the target is whoping 2.46 trillion.

That fool is almost 24 B dollars.

Give up. Next year we hit 30B dollars - and 5yrs we would be at 40-60B dollars - South Africa is at 80B dollars.
https://www.bloomberg.com/news/articles/2022-12-18/ruto-vows-big-revenue-boost-budget-cuts-after-kenya-downgrade#:~:text=Ruto%20targets%20to%20nearly%20triple,the%20US%2DAfrica%20Leaders%20Summit.

https://nation.africa/kenya/business/kra-five-month-revenue-collection-up-10pc-4058408
The Kenya Revenue Authority (KRA) has recorded a 10.2 percent growth in revenue collection for the first five months of the current financial year, driven by new tax measures and positive economic recovery.

National Treasury data shows KRA netted Sh758.58 billion in tax revenue for the five months to November, an increase from the Sh688.08 billion tax revenue it collected in the same period last year.

The Treasury introduced a raft of new tax measures in July through the Finance Act, 2022 including an increment of excise duty on products such as fruit juices, cosmetics, beer, wines, spirits, and cigarettes

But with just a month to cross the first half of the fiscal year, however, KRA still lags in its race to collect the National Treasury target of Sh2.46 trillion tax revenues exclusive of grants by the end of June.

KRA collected a record Sh2.031 trillion in revenues for the financial year 2021/22 up from the Sh1.669 trillion it collected in the previous year.

another bunch of nonsense that does not deal with Kenya reserves decline to 7 billion
Debt service taking 70% of revenue
Kenya shilling trading at 127kshs
2 items taking 140% of revenue
Kenya govt swapping it debt and domestic debt getting under subscribed leaving your govt in a desperate situation unable to finance itself.

Kenya is in the company of defaulters like Sri Lanka, Lebanon and co don't try to compare Ghana to your mess.


I like your wishful thinking that 2 trillion kshs is equivalent to 24 b

Kenya is in dire need as a growing import bill and debt servicing cost has depleted the Kenyan reserves.... Even Kenyans don't want their Govt bonds and treasure bills anymore ...
Hugely under subscribed by 40% consistently.

Kenya debt now 9.7 trillion kshs and GDP 106 billion dollars with the shillings depreciating fast.

rvp2018:
How did you get here. I told you 3yrs ago - you were going to end up bankrupt.

Debt interest alone is now going to consume 100% of revenue.

That is minus principal. Your are going to spend 20yrs to fix this - 15yrs just paying interest. Default is NOT A JOKE.

Last time Ghana got debt forgiven together Nigeria - now everyone think you need to go through proper lesson of prudent management of money

My next prediction - because it appears Ghana gov is equally mentally deranged like you - we are going to see Sri Lanka like meltdown in Q1

Just make sure you go to your village and farm. You'll need your own food. The financial system will go haywire

another bunch of nonsense again

I told you 4 years ago that Kenya was defaulting on it debt and any kind of external pressure will push your country overboard and it happened.... Now you're doing 140% on just two items and your country can't finance recurrent expenditure nor spend on Capital expenditure...
Even with IMF forcing your govt to cut down 40% of it expenditure ... I'm even wondering where Kenya is going to cut that 40% from especially considering that it only spend 140% of it revenue on 2 items that it can't cut from.

You only have one option, to keep defaulting on more debt as well as strangling Kenyans with more taxes which they will not see the benefit of even in the next 30 years because your debt behemoth is so huge that you can't pay back. Carry forward of debt due only compound your next year payment.

Kenya school children who don't have desk to sit on will not have desk to sit on for the next 30 years.
Kenya will not be able to hire the 40,000 teachers it so badly need to fix the double stream crisis in your education because you can't pay them.
Next dormitories and classrooms that have to be built will not be built.
Healthcare infrastructure and medicine needed cannot be provided.
50% of Kenyans in darkness will remain in darkness for the next 30 years because your grid cannot be extended unless you pray for some US and European aid.


As for Ghana, she has fully recovered with inflation dropping to 15% and cedi fully recovered.
Debt to GDP ratio will be at 48% (48 billion) as the GDP has crossed 100 billion dollars.
Debt servicing of 3.5 billion is less than 20% of revenue (25 billion dollars)

rvp2018:
Mad cow in his element. Default is big deal and your economy dead for 20yrs. Keep on living in lalaland but it will soon be clear.

You're still stuck in domestic debt which have come unstuck as local investors have refused to play - and have yet to process today news - where you also defaulted on almost all external debt.

You joined Ethiopia, Zambia and Chad.

Anytime you hear debt restructuring - then you've defaulted.

Lunatic

No one has defaulted except Kenya and that is why your country is facing depression for the next 30 years and looking for countries to join in your misery.

By the time you guys will be able to reduce your 2 items consuming 140% of revenue, most of you Kenyans would have become like Turkanas

Even after years of Kenya being offered debt relief by China, the WB and Ghana even negotiating debt relief from your Eurobond holders on your behalf, you guys still managed to default on 4 debts and ran to the IMF on stretchers.

rvp2018:
Maybe it's not mental but poor education. I see Vax has the same problem.

Let try English definition of terms.

Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.

Today Ghana declared to the world that it is BANKRUPT.

Kenya continues to meet it's debt obligation. Nigeria despite having exceeded 100% revenue to service ratio continues to meet it's obligation by kicking the can down.

I don't have to waste more words on you, this still remains a perfect write up for your ain't size brain.

Kenya that has defaulted on 4 debt already and is pushing the repayment of others as carry forward meet it obligation? Let me laugh
Youve not been meeting your obligations for 4 years now.

This publication is for current holdout creditors still thinking of being holdout creditors by the new date of 30 December.
It simply gives them 2 options to either trigger their legal clauses for govt to trigger it legal freeze clause so that the govt can move on with it CAC with the majority in agreement while the holdouts go through a lengthy court process or run for further negotiation.

If comprehension is too hard for you... You can read from the attached comment, it makes it simpler

rvp2018:
KQ is bankrupt. Ghana gov is bankrupt. Focus on the bigger elephant and your mental health

Kenya govt is bankrupt with just w items consuming 140% of revenue.. Ghana govt is not

You can't be running lose making businesses and expect your govt who has defaulted so many times already not to be bankrupt... That should be your worry for now and not a country with so much money to finance big budget projects

gallivant:
Worry about making your theoretical airline a reality.

they are all realities

Make KQ profitable... We don't run loss making airlines in Ghana.

There's not even a single profitable airline in Kenya

NTSA:
KQ will be profitable soon watch this space.

not even in the next 5 to 10 years because it will have to repay it numerous debt

NTSA:
You can go ahead and do it but never compare Ghanas aviation to that of Kenya

make KQ profitable and maybe you'll be able to compare

NTSA:

did you even understand that ?

Seem we have to get your IQ tested .. cause it is like that of your fellow Kenyans

NTSA:
Are you talking of new arrangements for non-existent airlines and trying to compare with kenya airways ?

did anyone talk about a bankrupt dead airline?

We don't compare flagship to casket

vankelvin:
Twerp just Google about Ashanti airline and stop the unnecessary heckling

You're the one minding him


His country is bankrupt and has defaulted on do many debt such that now they can't finance big budget projects.

vankelvin:
[b]

Better

yeah... Asante Airline might be a separate airline or they might merge it with Ghana Airlines

popizaino:
Seriously he needs it.

you need it more, Cassiel is not privy to govt strategy until they are done and bring it to parliament so for now he can only play politics to put his party in the good light as a strong opposition...
Even the likes of Bright as leaders of CSOs are out of the loop, leaving all of them to speculate.


I've always asked you to learn

vankelvin:
Nice idea but hope they will not name the Airline Ashanti airline

The name is Ghana airlines

The likes of Despite and others have successfully negotiated a partner agreement with the government

vankelvin:
The emboldened is the way to go
but K-nyansh Government should own at least 10% share , Kenyans people should also own about 41% then Delta can take the remaining 49%

Delta is not in the Business of owning small companies... They may have to look at offering Ethiopian airlines about 55% share... They are the ones looking to acquire small airlines in East Africa in other to become a behemoth

rvp2018:
You cant teach us about airlines or anything now that you're bankrupt.
We can only listen to Ethiopia

Ethiopia fired their legendary CEO - who now works for Delta.

That is the guy we want in Kenya Airways.

Yes we can because we started this business on the continent ferrying all of Africa together with other west And northern African countries airlines before Kenya was even birthed

Focus on Kenya debt payment, those defaults is what is dragging your country and it currency down

rvp2018:
Understand the genesis
1963-1978 - we had one airline with Ug and TZ called East Africa Airline. Tanzania became consumed by jealous and we killed EAC - every pilot took off with their plane - and each country went to start their own.
1978-1995 - we had gov owned Kenya Airways - and again it became difficult to maintain
1995 - we executed africa most successfully privitasation of the airline - KQ was owned 40% by KLM; 25% through IPO; and 35% by kenya gov.
1995 - 2012 - KQ was profitable and one best airlines in Africa.
2012 - 2022 - last decade - it hit serious turbulence - gov has lend it money to survive - the money has been converted into equity
Now gov has been forced to own KQ again - with Kenya Banks - as 2nd biggest shareholders.
2023 - hopefully we sell 49% to Delta; the rest to Kenyans ; kenya gov can own maybe nothing.

Why did kenya gov inject money - the last 10yrs to save KQ - because it strategic and because we can fix it - and maybe recover the money we invested once we sell to Delta.

So hopefully Delta will pay off gov investment the last 10yrs - and KQ goes back to being private airline it was.

delta is not in the business of owing lose making businesses with no potential.

Delta is a big guy looking to own shares in huge competitors like Chinese airlines and Turkish airlines

vankelvin:
[/b]
Oh! so that's what it is all about?
Seeing millions of foreign human beings in JKIA then what next? you use your taxes to pay off all the debts incurred by your airline ?
Can't private people(Kenyans) be made to run that airline instead of your Government?

new arrangement for Ghana Airline... Asante Airline will own 49% share, Ghana govt will have 10% and the remaining will be floated to Ghanaians.

Ghana has 68 air service agreements with various countries.

Something like this won't be bad for Kenya plus a little piece of the agreement stating that the Kenyan government will not be liable for any debt or loses incurred

popizaino:
Your wasting your time. Just tell him if he will accept that Accra is more developed than Johannesburg since naked eye doesn't do it and must all go by QOL and Mercer indicators. You know Accra doesn't suffer from much load shedding like Johannesburg,neither does it have Johannesburg crime rates.

that's why jo'burg ranks higher than Accra, telling you that Accra is not more developed than jo'burg... So again what's your point?

Useless argument over nothing

rvp2018:
Seriously you should get mental help.

you need it more ...
Check yourself in or seek an education

You always want to argue things you don't understand

rvp2018:
Read this again slowly - it for all external debts - including bilateral debt - when UK loan you - they dont issue Eurobond - they wire the money directly - and you pay.

And there is no hint of any negotiation.

Again dont argue with stubborn facts. You will LOSE again and again and again.

Domestic front - deadline has been pushed - no takers

We are looking at classic default by early January.

Now that you have empitied your forex to do kamikaze run on the USD - and all that positive sentiment - has today been eroded.

Well to your surprise.. They negotiated with their external holders long ago ending October and reached a 30% haircut for them with new swap agreement to be publish.



This publication is for current holdout creditors still thinking of being holdout creditors by the new date of 30 December.
It simply gives them 2 options to either trigger their legal clauses for govt to trigger it legal freeze clause so that the govt can move on with it CAC with the majority in agreement while the holdouts go through a lengthy court process or run for further negotiation.

If comprehension is too hard for you... You can read from the attached comment, it makes it simpler

rvp2018:
We are not talking domestic default you had few days ago.

We are now on external debts- bonds - and even bilateral & multilateral loans that are not issued as bonds. Not just Eurobonds. Even Nigeria Gas wont be paid.

On domestic front - domestic investors have refused to return their bonds to exchange for new ones.

And now we are hearing Ghana CBK took their last forex - flooded the Ghana market - to sustain a run on the dollar - and now they have nothing left in the coffers/

Therefore, we have a classic default.

again you fail to understand...

Govt reached out to it external creditors long ago and reached and agreement with most of them which we've all come to know as 30% haircut for external creditors.... The new terms for their bond swap will be announced soon.

Nigerian gas is not a bond buyer

If Ghana central bank burned it forex, the Cedi will not be appreciating this much ... Infact Ghana central forex has surged to almost 10 billion since it dropped to 7 billion in July.

Next excuse for Kenya desperate need to look for company in it default

You have no idea what negotiation strategies are

rvp2018:
You took an hour to recover. Drink some milk. This is going to be two decades.

Ghana announced that it will default - starting today

The default start now - when next interest or principal payment is due - and they indeed honour their word not to pay - they would have defaulted.

https://www.reuters.com/article/idUSKBN2T30IG

The IMF has said a comprehensive debt restructuring is a condition of the deal.

read again.... It seem you didn't understand

Not even close to a default ... We will not be joining Kenya in that league

This is a follow up to the new bonds that have been agreed upon which signified zero coupons for the year 2023..

The new agreement for the external debt will be published soon.


Your lack of reading comprehension will always hurt your attempt to make an understanding of things like finance and economics.

This publication is a CAC designed for hold out creditors to either trigger their lawsuit clause which will lead the govt to trigger it clause on freeze on litigation or the holdout creditors will be force into a deal, this is the govt drawing first blood

rvp2018:
Okay Ghanian - here we go with default. That should keep you busy for next two decades as you battle bankruptcy. We shall see you again somewhere in 2040 - when Kenya - then a developed country - will be sending AID to bail you out.

External debt default.

not a default lunatic

This is a follow up to the new bonds that have been agreed upon which signified zero coupons for the year 2023..

The new agreement for the external debt will be published soon.


Your lack of reading comprehension will always hurt your attempt to make an understanding of things like finance and economics.

This publication is a CAC designed for hold out creditors to either trigger their lawsuit clause which will lead the govt to trigger it clause on freeze on litigation

rvp2018:
Your inkling to heckle. Let the other one with two brain cells left at least engage us today. Take a rest.

Act like a person with your brain cells actually connecting instead of these lame argument you keep making.

Even a Kindergarten kid will not make these argument

rvp2018:
Your country is tiny - one can drive round it in a single day.

another nonsense excuse for why Kenya remain undeveloped

You'll build highways in desert because it leads to where people live just like Ghana and Algeria have done.
Even Burkina Faso has done it.

Arid, semi arid or not... All African countries have those too

It's not an excuse in the 21st century

rvp2018:
This beyond your paygrade. Stick to heckling. Let the Boer argue

It's beyond your understanding, that's why you're arguing over nonsense even in the face of facts

rvp2018:
How much does Joburg beat Nairobi for example. Let assume 1 category is 10 points. If you take off 30 points from Asia cities because of their political enviroment; you've made huge difference.

That again is why I warned you about using one indices like a desperate Ghanian or Tanzanian

Stop arguing... SA cities beat Asian cities by a mile for a reason... They are more developed

Most of the Asian cities they beat has huge problems that SA has long solved.
Their cities didn't just beat Asian cities, they also beat European cities as well

Shaytun:


Loss making business.

it's the right thing to do... Bleeding money for 10 years does not make sense

rvp2018:
Which QOL and by which org. I rather you stick to your school yard pranks.

Economist Intelligence Unit uses these indicators

The nine quality-of-life factors, and the indicators used
to represent these factors, are:
1. Material wellbeing
gdp per person, at ppp in $. Source: Economist Intelligence
Unit
2. Health
Life expectancy at birth, years. Source: us Census Bureau
3. Political stability and security
Political stability and security ratings. Source: Economist
Intelligence Unit
4. Family life
Divorce rate (per 1,000 population), converted into index
of 1 (lowest divorce rates) to 5 (highest). Sources: un; Euromonitor
5. Community life
Dummy variable taking value 1 if country has either high
rate of church attendance or trade-union membership; zero
otherwise. Sources: ilo; World Values Survey
6. Climate and geography
Latitude, to distinguish between warmer and colder climes.
Source: cia World Factbook
7. Job security
Unemployment rate, %. Sources: Economist Intelligence
Unit; ilo.
8. Political freedom
Average of indices of political and civil liberties. Scale of 1
(completely free) to 7 (unfree). Source: Freedom House
9. Gender equality
Ratio of average male and female earnings, latest available

And Mercer QOL - is mainly for expats living in a country

The total index is based on the following categories:

Consumer goods
Economic environment
Housing
Medical and health considerations
Natural environment
Political and social environment
Public services and transport
Recreation
Schools and education
Socio-cultural environment

Mercer

rvp2018:
QOL - ranks stuff like political stability and democracy - gay rights - and that is where Egypt will score poorly - and South Africa will win - but everyone knows Joburg is crime capital, rape capital, drug capital and now even electricity & water are no longer assured.

Be afraid of the dangers of one story.

It reeks of desperation to always have one index like DESPERATE Tanzanian.

One of my favourite Nigerian - this very brilliant writer - she talks about the danger of single story. You need to widen your horizon - and you'll see many cities in last two decades have left South Africa - Dubais, Qatars, Chinese cities.

These chinese and middle east cities will score zero for democracy - but when it come to infrastructure, housing, transport - they are WORD CLASS - better than any city in the world.


https://www.youtube.com/watch?v=D9Ihs241zeg

South Africa cities are slowly become just another SSA city - without basic services with crime out of hand - and that is very clear to me. Nairobi on the other hand is growing very rapidly.

This is what QOL ranks .. you can learn a thing or 2 and improve

electricity
water
Roads
public transportation
traffic congestion
medical supplies and services
infectious diseases
sewage
waste disposal
air pollution
standards and availability of schools
restaurants
theatres
cinemas
sports and leisure
availability of food/daily consumption items, cars
Improve Housing
Improve household appliances availability,
furniture availability,
Improve infrastructure maintenance services