₦airaland Forum

68816419:
Why don't you compare it what Nigeria Generated from only tax only

because
nigeria tax to GDP ration is still below 10% of GDP

so there is nothing to compare

abbeg:
'Before you remove the log from your brothers eye,remove yours'

atleast they dont have to worry about health problems because majority of their health problems are treated under their health insurance

they have electricity and water

abbeg:
Its weird this is coming from ghana.Telling nigeria how to run the show in west africa.Its just like a child walks up to you and flaunts his 'vast experience' in traffic rules in your face cos he was recently taught at school.
And please,oh please explain how USA calls us the little boys in the whole of west africa.

Ask the USA
why are you asking me

Jonraid:
That was how much the revenue grew further and not the total revenue! You get it?

he couldnt read it

vaxx:
GHANA forieng reserve is about getting more bigger

the Global trend is moving away from the dollar
i think the central should know this

vaxx:
i think he is talking about kenya. Ghana foreign reserve just increase of recent.

in the 21 century
why should any country be pay for US debt ?

holding dollar reserves only props up the dollar


reason why countries are gradually moving their reserves from dollar to gold.

68816419:
Hahahah, why would a sane person use USA as a comparison, knowing fully well that global currency is dominated in $ and the level of development and industrialization means most of these debt could be service with ease.can same be said to Ghana or Kenya ?

of course
most of Ghana and Kenya debt can be serviced with ease because the debt was spent on viable projects

the US cannot repay it 22 trillion bebt
the money was spent on the millitary even attempting to pay that debt will collapse it economy.

global trade is dominated by the dollar but that wont last for long.

68816419:
how can you pay your debts when most of the so called projects are running at lost, when you hardly have Good foreign reserves to support various operations , don't you know that you need FX, to help Forex serves is in meeting the international finance obligations including sovereign and commercial debts, financing of imports. It helps in boosting the confidence of the market in the ability of a country to meet its external obligations.
how do you intend to repay your debts knowing fully well that your projects are seriously running at lost,and your only port is at the risk of been taken over by china?

hehehe
has Ghana told you it cant pay it debt ?
creditors would have run away from Ghana bonds if they realised that yet each bond is over subscribe

you dont know international finance
leave that arguement to those with knowledge on the matter.

which of the projects are running at a loss?
care to list?

Ghana GAS has finished repaying it loans

Ghana's port was not even financed by China
for China to take it over

edon21:
COWARD
ALWAYS RUNNING AWAY

real cowards dont read

vaxx:
This is not a sound analysis.

check what is the debt to GDP ratio of USA. By the standards other developing and emerging economies are judged, the US economy should be under IMF conditionalities because their debt to GDP ratio is way way way way way over the threshold of debt sustainability and it is not reducing, it is rising and rising. Indeed it is the largest on the planet, not even close.

So if Ghana can sustain the borrowing base by its capitals expenditure, i don't see it as anything to be worry about.

if i was Nigeria, i will borrow more to fix my current problems.


wait till Ghana list her 50 billion century bond
Then you will see what massive changes are


unfortunately Nigeria cant do same because
the money will eventually vanish

edon21:
get me the list

go back in the convo

rvp2018:
Why would your central banker do this. Are the banks pulling the strings from behind?

naa
the banks cant pull strings in Ghana
they will be cut down to size.

the government stopped the central bank from creating a retail payment system befitting of Ghana.
Claiming the value of the contract was too high for the kind of contract and it broke the laws of Ghana
when it comes to the value of contract that can be sole sourced.

some procurement nonsense
Now they have implemented a system that does not fully cover the entire payment ecosystem

68816419:
like what projects if i may ask and how long would that be?

Like Ghana Gas
Ghana oil transport pipeline
harbour construction
Power projects
transmission lines
water pipeline and water works
desalination plants
roads

all of them can finance the portion of loans used on them


they can repay their loans withing 6 to 10 years on their own balance sheet

rvp2018:
Woah! You made my week. I need to read Ghana mobile industry. Those figures are pretty awesome for a country of 30M.

this is what could have happened but was cancel
An entire retail payment system


BOG through this tender seeks a vendor to supply, implement, own and operate an integrated and interoperable Mobile Payment Systems Infrastructure (MPSI), as a turn-key solution project
–
that is, all components must be supplied and/or integrated by the vendor to create a fully tested, working system meeting the requirements of this RFP. The successful tenderer will be awarded a contract by BOG to supply, and implement MPSI, including hardware, systems software, and appl
ication software at the tenderer’s
own expense, and own and operate the delivered system. BOG will use the system as a monitoring tool for payment system oversight. The successful tenderer will provide the technical training needed for staff of participating institutions, namely; BOG, banks and mobile money operators (MMOs) to be able to use and support the MPSI.

68816419:
How can small countries with no economic viability, tiny IGR, little industries, little resources have such high debts ?
Ghana’s $18 billion external debt could later affect its macroeconomic stability

(Ecofin Agency) - At end November 2018, Ghana’s external debt was $18 billion, figures recently published by the central bank reveal. Even though the debt-to-GDP ratio has slightly decreased to 28.9% against 29.3% at the end of 2017, there are worrying indicators.

Despite a rise of the trade balance to $1.7 billion in December 2018, the country’s external debt was 10 times higher than net exports. At the same time, the country’s external position worsened slightly.

The gross international reserves at end December 2018 was $7 billion and it could just cover 3.7 months of imports (despite the support of the trade balance by the oil sector that does not create many jobs or inclusive direct growth) while in December 2017, it was $7.5 billion for 4.3 months of imports.

Gold and cocoa, that are the traditional economic sectors and employ the most, generated less foreign currency with their respective contribution to exports valued at $5.4 billion and $2 billion respectively against $5.7 billion and $2.6 billion at end of 2017. During the period under review, the net capital account was divided by two going from $3 billion to $1.5 billion.

The government wants to substantially reduce its debt by 2021 but, for the time being, it has to continue to solicit the international market and it already announced the possibility of a $3 billion issuance. Its last issuance was in May 2018 and, it was oversubscribed by four times.


Nigeria’s external debt rises by $11.77bn in three years


Kenya’s public debt is rising to dangerous levels

Kenya is weighed down by swelling public debt and faces the possibility of a debt crisis (where the government can’t repay what it owes).

Kenya’s current public debt stands at approximately 4.884 trillion Kenyan shillings (USD$49 billion) or 56.4% of the country’s gross domestic product.. This is up from 42.8% in 2008. In other words, the country owes more than half the value of its economic output (GDP).

The International Monetary Fund recommends that ratios of public debt to GDP should not be higher than 40% for developing countries.

To be fair, this level of debt is comparable to that of other developing economies. For example, South Africa’s ratio of public debt to GDP was 53.1% in 2017 (2008: 27.8%). Nigeria’s was 21.3% in 2017 (2008: 7.3%). Brazil, India and China all have ratios over 40%. However, the economies of these countries are several times larger than Kenya’s.

Policy analysts are worried about the country’s public debt compared with its national income. Kenya has a population of 51 million, implying that every Kenyan owes about USD$962 – and produces USD$1169 a year. In comparison, each South African owes about USD$1434 and produces USD$12,295.

http://theconversation.com/kenyas-public-debt-is-rising-to-dangerous-levels-100790

Ghana's bebt is self financing

all the projects that created the debt can repay those debts
so no problem here

stanliwise:
how old are you. you don't talk in mature manner. All you do is to curse. check majority of your post.

if fact stating is cursing then you were wrongly educated

rvp2018:
That is sad. Africans need to embrace policy experimentation. Esp the regulators. Otherwise we will take 200yrs to develop with old traditional tried and tested models. We need to try new ideas that can leapfrog us into developed world.

I work mostly with mobile money - and I can tell you Kenya M-pesa is incredibly busy. I think Visa & Master globally do like 60B transactions a year - and Kenya's M-pesa last year was doing 2 billion transactions - and the numbers keep growing. Honestly plastic cards are so last decade....

In the payments systems I oversee - we receive a payment every second - and so having incredibly reliable system is so critical.

Globally mobile payments should be well on it's way to 10 billion transactions per year - and pretty soon - Visa, MasterCards and China UnionPay will have to step aside - as 3rd world countries show them the way - by running really crazily busy payments systems.

plastic card is so rural now
china has innovated the entire payment systems in it economy



The value of transactions had also seen a significant increase from 2012 to 2018. For instance, in 2012 total transactions, reached GH¢594 million and increased significantly every year to hit GH¢233 billion in 2018.

The Data secured from the Bank of Ghana also showed that the volume of transactions on the Mobile Money platform increased from 2017 to 2018 reached 1.4 billion.

The data from the Bank of Ghana revealed that the total number of mobile money agents ending December stood at 393,000 up by 194, 000 from 2017 representing 103% increase.

Mobile Money accounts at the end of December 2018 was 32 million. This represents a 17.43 % jump of the 23.9 million registered accounts in 2017.

vaxx:
While, This on its own will have provide a lot of informal and formal jobs in nigeria. Nigeria ineffective policy kills the buisness. banks are even collapsing with their lots of savings with central banks.

in Ghana now, there is huge competition between telecoms industry and the banking sector. each fighting for their own share of the market. in all honesty, it has been healthy for the economy.

just immagine closed to 60 billion dollars roaming on mobile money alone

vaxx:
You can't even construct a good sentences. And you are saying, You pass Ghana in education.

i will advice you to be humble.

mean

rvp2018:
Yes Ghana mobile money & commerce is on steroids. Nigeria entrenched federal gov screwed it up by denying telcoms the license to do it and allowing banks to drive it. Banks that already make enough money from forex arbitrage to even care to innovate. I mean those Nigerian banks buy dollars from CBN at 305 - and sells it to Nigerians at 365 - or even black market for 400 - crazy returns. And that is just one income stream. Why would Nigerian banks innovate. They simply killed mobile money in Nigeria.

Anyway Ghana Mobile Money (P2P) need to move to Mobile Commerce like Kenya. In Uganda there is mobile money that is still version 1.0 - merely person to person sending of money. In Kenya it's really on 2.0 - business to business, person to business or name it - p2p is now a small component. Tanzania is doing great. Rwanda is still at infancy.

our current government killed the drive to move mobile money into commerce
Like by now, we will have mobile money cards everywhere to compete on with the likes of VISA and mastercard

An entire payment ecosystem was being built on the likes of China
but government shut it down

jakandeola:
I see u are a Ghana goat no need to argue wit u.if south Africa want to challenged us a gaint of Africa I gree cos they have improve a lot world cup and act as oyinbo.but u am happy we chase u away at the time black ugly things. music sports film education we pass u in all. Ghana is a totally useless country to me so u cant compared us.I beg u dont mentioned me again cos if u do u will hate urself

lets not go back to this
we've established that you dont match Ghana in any of the things you mentioned
Just go and advocate for better leaders, waybe , you will wake up one morning to a better country than Cassablanca

jakandeola:
guy didnt u see how dey always attack us with bad word and yet we own dis blog!

i saw that
but
you brought us here when you started attacking everyone
only for us to come and point out how poo your country is.


you realise it as soon as you step out of Nigeria

rvp2018:
I think we can grant the 2 empty towers of Eko City and Victoria Island some smart brownies points - for running their generators, keeping their own shiets in cesspools and supplying their own water by drilling boreholes.

Do yo know what happens when everyone drills boreholes

the water table goes down and down
that cant be a smart way of living.

rvp2018:
How can you build a skyscrapper without electricity - the lift won't work most of the time - Nigeria should fix the basics first - electricity -water - sewage - and then come talk about smart little islands for the super-rich.

i woder what they were thinking when they decided it was smart to build EAC for 250,000 people and compare it with the rest of Africa


Just look at Cassablanca

rvp2018:
For your everything is discrete. It's either you're are smart city or not. What kind of nonsense is that. Every city is smart or dumb - it's the degree - Nairobi is probably 30% smart - where Lagos is 3% smart. Some cities like San Francisco with self-driven cars are maybe 95%.

In Africa - Capetown and Nairobi - are on the pole position -

how can Lagos be 3% smart when it cant even manage it grid

jakandeola:
you South animals pls keep ur mouth of of our mata. wat is it ur in a naija blog yet u keep abusing us dey hate us yet cant stop talking about us may god purnish u animals d only thing u good at is HIV aids.cant u animals created ur own blog?

this one has lost his shit

go and vote for better leaders

tylann:
.how can you build a smart city without electricity in the first place
Will it be powered by generators ??

hehehe

the people dont even have pipes running through their homes

stanliwise:
Hahahahahahhahahahhahahahahahahhahshahhahahahaha

I can't stop laughing.... hahah see your poor definition of smart city hahahahhahahaha.
so this is what you have in mind when we are talking about smart city.

Answer this:
1. Does Nairobi have a detailed database of it citizen?
2. Are there tele-medicine and remote healthcare for majority of Nairobi citizens?
4. Does Nairobi or capetown have smart urban lightning
5. How intelligent is Nairobi transport system and traffic management, smart buses. cars etc
6. Does citizens now rely on technology for driving, touring, payment of tax.
7. Does capetown and Nairobi have sound management systems.
8. Can you rate Nairobi and capetown power management 80%

This is just a few of the list as if you notice Nairobi and Cape town has little bit of everything but they are at the infant stage. Stop trying to be a fanatic.

Nairobi and Cape town are at the most progressive stages of what a smart city is

vaxx:
Not even Ghana.

let alone Senegal

tylann:
That is why they are ranked among the likes of juba and bangui

you are mean

samsobo24:
If i tell you what lagos has achieved and is planning to achieve, you will be marvelled.

A city can be smart but not a smart city without entirely having a city that conforms with all basic infrastructure.
Talk of Lagos using technology for its security, see its transport systems,its plan to start using tech to curtail traffic, its electronic waste management system( failed due to poor MOU between the government and the firm),its plans to build new world class cities in its cities,its technology arenas, its smart security systems,its disaster management, and other plans like making sure the state has an independent power.
Those are few things that entails for a smart city but will only be a dream without building the city from scratch.


A city that wants to be referred to as smart should at least have an entirely planned smart city from scratch

first of all,
you dont need a new city built from scratch except when your entire city is a slum.

stanliwise:
stop showing me building and houses. A smart city is more than just constructions, heavy application of ICT for proper decision making and control is needed. No Africa country possess this currently. Cape town and Nairobi has the potential to achieve such. But they are not there yet. If it was about properly building plans and nice houses. Almost all part of United State of America will be considered a smart city

exactly why even Abuja and Lagos are not yet cities
they are just urban jungles