₦airaland Forum

rvp2018:
Usual madness. Sub-sahara Africa - almost every thing - remember South Africa, Nigeria and Kenya. That is default order of any ranking. South Africa is the southern pivot. Kenya the eastern kingpin. Nigeria the arsehol of Africa but the shinning light (from darkest part) of West Africa.

Ghana is rarely on top 10.

there's nothing like sub Saharan Africa when we are mentioning Africa.

Manufacturing contribute to to 18% to employment in Ghana.

Kenya manufacture nothing hence why your import is as high as 23 billion dollars... Sector was growing, it will show in your energy consumption... It will also show in a reduce important bill.

You see how Ethiopia energy consumption is growing , that is what manufacturing does.

Shma:
Contribute where and to who?

The only person spewing intelligence at the moment is RVP, why should I debate him?

For zombies like you with zero brain cells are just ranting for its sake.

You don't know much so you don't contribute intelligently to anything

rvp2018:
There is no major problem with our imports (maybe 3B dollars in cooking oil/rice/wheat and few finished goods) otherwise we will continue to import more refined oil, machinery, equipment and cars for quite some time.

Our problem is the exports are not catching up.

A growing economy - both imports and export should grow.

If you imports are not growing you have bigger problem - your domestic economy is dead.
If your exports are not growing - then your running on one engine (domestic consumption) like kenya - and that could be a problem.

So our major problem is to grow our exports to 23B from 6B...

There's everything wrong with that, especially when your import isn't growing as much to clean out your trade deficit.

rvp2018:
The largest manufacturing bases in absolute terms can be found in Nigeria and South Africa, followed by Kenya, Democratic Republic of Congo, Côte d’Ivoire, Ethiopia and Tanzania
https://set.odi.org/wp-content/uploads/2018/06/Manufacturing-in-Africa-Factors-for-Success_June-2018.pdf

The largest manufacturing base in Africa goes like this

SA
Morocco
Nigeria
Egypt
Algeria
Ghana
Ivory Coast
Libya
Ethiopia
Before Kenya or Angola

rvp2018:
Reducing import bill is not neccesarily a good thing.
Kenya doesnt import a lot of finished goods but imports will continue to grow.
You can expect we will continue to imports lots of machinery, refined oil, cooking oil, cars and equipment.
Why would we reduce that? China continues to grow it imports and exports. This what a growing country does.

Kenya import 23 billion dollars of finished products , food, medicine and etc.

If your own manufacturing base can't contribute to a reduction in import, then you're manufacturing nothing at all.

Why do you think Donald trump was so eager on reducing the US import bill ?


No growing country takes pride on and import bill higher than export... Everyone needs a trade surplus in order to have a strong economy.

There more you import, the more you lose economic base

Shma:
No education is required to distinguish wits from lunatics.

You might be educated but not well learned. The moment you get the gist of this difference the better.

As usual... Doesn't contribute anything substantial and just the usual dumb twits comment

rvp2018:
Usual madness.

Just say you don't know shit, so you can't stop posting like a lunatic.

If you check these 3 countries, their import bill has consistently dropped over the last 10 years and in some cases , the rate of import has decreased.

rvp2018:
Usual madness.

Just say you don't know shit, so you can't stop posting like a lunatic.

rvp2018:
This most nonsensical post of the day.
The economy is not just manufacturing - it's the entire spectrum of economic activities - from agriculture, education, healthcare, transport, construction, real estate, hotels & accommodation, retail & wholesales, trading,
A country that develop sustainably does so by developing all these sectors - they diverse their economy.
So that if you get a problem in agriculture (say drought or disease) then retail & wholesale will sustain you.
If you have problem with tourism (due to covid-19) - the other sectors can sustain you.
Of course manufacturing is very important - because it's highest multiplier (of 10) - meaning one manufacturing job will create 10 jobs
And to get manufacturing working - you need basic of electricity (cheap), roads & railways, and of capital (investment).
Countries that have pursued what you're suggesting - import substitution (replacing imports with domestic goods) have not gone anywhere.
In fact those that had contrary thoughts - export led manufacturing - are the ones that have developed.
That seek first to manufacture and export - to rich countries - use the money you get from export to develop - and grow economy
Once you're rich - then you can manufacture for domestic economy.
If you start from manufacturing for your local economy - who will buy those things - yet people are POOR?
The same for food - dont grow flowers - grow yams.
But if people are poor - who will afford your yams? It's better if we grow flowers, get the dollars, use it to buy yams from you.
In short Africa countries should follow beaten path - that South Asians have proven - export led manufacturing.
Manufacture these stuff you dont need that people out there need first- for example Veitnam are making 12B dollars manufacturing bicyles for export.We dont biycle in Africa - but Europe need bicyles - and they are paying money for it. We surely can build bicyles.
From the proceeds of exports - grow your local economy until the time people are rich enough - to afford manufactured goods.
Import substitution FAILED in 1980s in Africa.
Stupid Nigeria and Ghana now are REPEATING THE SAME MISTAKES.
Nigeria and West Africa with excess labour should be doing what Veitnam and Bangladesh are doing now - export led manufacturing.
Kenya too is not seriously engaged in this....and we know have about 15M idle labour force that should be manufacturing things for export.

important substitution succeeded in both Ghana, Nigeria and Ivory Coast.... Don't continue acting stupid for your country lack of manufacturing capacity.

Majority of the goods consumed in these 3 countries are made within their own country.

Because your country has failed massively and without the manufacturing capacity explains why your unemployment is so high.

obaaderemi:
That's it.
And what's worse, kenyatta has borrowed against the future of Kenyans to put up a few shiny infrastructure. Like that road they keep posting here. Now the country is broke.

yeah

It is bad to put all your eggs into one basket but it is even worse to eat all of your future eggs.

obaaderemi:
The problem Kenya has now is it's lack of essential mineral resources like Nigeria and Ghana. Mineral resources have rebounded seriously these days when most African countries are reeling seriously from the effects of covid and Ukraine war.
Before now, most African countries have racked up massive debts. Countries that lack mineral resources to export are going to have a lot of problems like Kenya is facing currently. How are they going to pay back the debts incurred to build all the Chinese infrastructures they gloat about here?
Now they can't even meet up with subsidies for fuel.

Kenya's prognosis are indeed frightening. I told them years ago that there was no way they could sustain a 50m population on a < $100bn economy. They hated and insulted me for it, calling me all kinds of names. Now the shitt has hit the fan and ordinary Kenyans are crying.

Exactly so, a country with almost the population of SA and yet it people are completely not economically productive to sustain their economy such that even if the government messes up, they can keep it going.

They've left it to the indians who will immediately run back to India at the first sign of trouble.

rvp2018:
Madness. Learn to support your argument with empirical data.
Understand the difference btw Total Revenue and taxes (ordinary revenues).
They are not the same.
Taxes are 17B - but we A-I-A (other revenues) that is about 3B.
Appropriation-in-Aid or other revenues - include user fees, licensing, dividends, court fines - collected by gov agencies and regulators.
Total 21B.
Ghana revenues are not even 10B. It's total budget is 17B.

I posted facts


Now you're the one making appropriations ....

Just stop lying already.... One will think, now that your country is in serious trouble, you guys will start embracing truth for a change.

Shma:
Maybe you're in a different universe, where facts are 'nonsensical and mind-numbing submissions & vice versa. '

And stop regurgitating people's views.

come to reality and you will understand simple things.


But first, you must get an education so you'll be able to contribute to intellectual discussion

rvp2018:
Kenya total revenue is around 21B dollars.
Total debt repayment annually is around 7B - with about half domestic - half external.
That works out to 30-35 percent or about of servicing ratio
Which is prudent and which is sustainable.
Most of our external debts are long maturity low interest debt
70% of our external debt are concessional (from World Bank/IMF/ADB/China) - with maturity age of 30yrs - meaning very low repayment
We dont gorge ourselves with Eurobond like Ghana and Zambia because it's "FREE".
You run to Eurobond every year since you discovered it - and now you're paying interest of 15% and paying it in DOLLARS.
Zambia is already kaput for doing the same.
All eyes on Ghana to default on Eurobond payment soon.
They wanted to refinance Eurobond with Eurobond - NO TAKERS.

again you're not reading

Kenya total revenue is 17 billion dollars and your annual debt servicing is 12 billion dollars according to Bloomberg.

Ghana total revenue is 20 billion dollars and annual debt servicing is 9 billion dollars.


I know economic is not your strong hold hence why you keep posting nonsense.

Because we take Commercial loans, that is why we are able to invest it into profitable businesses instead of going for slave loans from IMF and WB or China, like you. Loans that are only invested in loss making nonsense. Which is the reason why Kenya was unable to pay it debt last year and it had to take Ghana to negotiate debt relief for your country.


Even after the debt relief, today your country is in a murky situation, unable to buy fuel.

gallivant:
Don't throw figures around, you are only confusing yourself. 16 economic bailouts is not surprising anymore when you look closely at the facts.

Those figures are from Bloomberg

Are they also throwing figures around ?

Desperate kid

rvp2018:
More rubbish.
External repayment alone in Ghana is 50% of revenue
We have not even talked about domestic debt.
Below is graph from Economic Intelligence Unit.
Kenya even when we drop the ball still have best African economist (outside RSA/Magreb)
And our economic policy wonks knows a thing about prudent public financial management.
That is why we have always had a strong economy
And the worse in Africa historically - if we exclude Zim (crushed by sanctions) & war-torn countries- are well KNOWN GHANA, ZAMBIA AND ANGOLA.
That since independence - they have gone broke so many times people forget about.
Ghana cedis and Zambia Kwacha at some point where near Zimbwabwe like....too many zeros.

I know economic is not your strong area but at least deal in facts.
They are freely available online.

So will you stop posting nonsense ?


Come back to reality kiddo because I know you've seen me post this before. This is just from early March.

Don't be desperate Ghana is not the reason why your whole country is desperate

https://www.youtube.com/watch?v=jYUMdztu2cM

rvp2018:
Long stories.
Ghana eurobond yield now at 15%....kenya is 7%
Ghana cedis has depreciated by 19%..kenya is less than 5%.
You've taken tonnes of external debt..mostly commercial...Kenya has very little external debt mostly concessional.
You own opposition leader Mahama has said country is about to default in paying external debt.

Unless you can get 15+19=35% more money every year to keep up the payment - you're going to default on Eurobond VERY SOON.

Yet Ghana debt servicing is at 45% while that of your country is 70%... Isnt it because Kenya borrowed foolishly?

Is that not why your servicing cost is so high?
If you country could borrow sensibly like Ghana, you won't be paying such high servicing...


Unfortunately Kenya cannot increase revenue collection, infact this year, your revenue will drop by 30% because of the economic crisis there. This will even put you in a much more messier situation.
And guess what, you'll be having elections soon.

Kenya is just in a nastier situation

gallivant:
The IMF and Worldbank will seize your King when you default.

shh

You don't a shred of economic sense

They will be seizing your country again for your failure to repay their debt

gallivant:
Pray for Ghana. IMF bailout is inevitable...

https://pbs.twimg.com/media/FR44TTPWYAMNXW6.png

Nothing compares to your country desperate situation right now.


Have you seen the fuel lines in your country ?
Have you seen the bread lines?


By next year, Kenya would not even be able to pay it public sector workers.

And guess what, the majority of Ghana's debt had been invested into profitable ventures that can repay the debt on their own.

Hope I can say same for your country but that's not possible because of the nonsense that happens in Kenya.

rvp2018:
Kenya gov an print it's way out domestic debt.
Ghana is projected to default on it's debt by 2024 - because external debt is now going to overtake GDP.
You cannot print your way out of domestic debt - because it's has to be paid in dollars

Good luck printing your way out let's see

If you knew what was happening to Turkey, you won't be posting this nonsense

By 2024 where Ghana debt will drop from the current 74.6% to 54% of GDP, kindly explain how Ghana will default.
Stop making shit up out of your desperate brain.

Your country Kenya will most likely default on it debt because your debt servicing to revenue will hit 90% by next year.

gallivant:
Parklands is better than entire Accra dwarf city.

Parklands

https://www.youtube.com/watch?v=-ZE1Y-e21HM

Accra

https://www.youtube.com/watch?v=K04_ZOqEYPY

parkland is not even better than Ohwimase in Kumasi, considering how roadless parkland is and with no drainages, let alone compare to Accra.

Learn not to speak above your ability

https://www.youtube.com/watch?v=xDZKDjlsMp4


https://www.youtube.com/watch?v=H-odhCQ3ve0

gallivant:
Fine is a word misused.

You will consider yourself rich in Kenya if you could afford to live in something like that ...


The properties here are finer than your best in Ka*ren

A portion of Kwahu looking all fine


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

rvp2018:
For the big and small Zoo. Kenya is not going bust anytime soon. Your countries will.

Ghana is spending 50% of their revenues to pay external debt.

Kenya spend mere 10%...lowest in sampled countries.

stop spotting useless stuff...


This is from Bloomberg, Kenya is spending almost 70% of revenue on debt servicing. By next year, according to Bloomberg, it will be 90% of your revenue that you'll be spending on debt servicing .... Zoo country.
Kenya debt servicing is 10% of GDP but 70% of revenue.
Last year December, your country debt servicing cost to revenue was 62%.


As usual, you don't know shit about your country.

Ghana is spending 40% of it revenue on debt servicing.
Ghana debt servicing to GDP is 3.3%


I wonder when you'll ever stop lying

Shma:
Say things that make at least a little bit of sense. Even If you're playing patriotic cards, play like a normal dude. some sh*ts that you peddle around are just beyond the atmosphere of a psycho.

Except I'm not being patriotic but speaking facts..

And those facts are well known here including to you because you've admitted them here but because of your senseless patriotism and for the sake of just arguing, you turn to not make sense in anything you post here.

gallivant:
Post Accra, I want to show you something.

It's above

rvp2018:
Shady as always.
Try to get somewhere as close as this

https://www.youtube.com/watch?v=aw7-zuVZVtk

parkland Nairobi compare to this community of Kumasi will be regarded as a poor affordable housing community.

Just like everything in Nairobi, usually unimpressive.

Your best will always be a normal community here.

Upgrade parkland into a modern community like Ohimase

Views of the southern part of the city, from the ministry of Health


https://www.youtube.com/watch?v=1utjgLKBN00

rvp2018:
Keep it pictures for a change. Your words I keep saying are worthless.

I wonder what you're trying to communicate...

Didn't they teach you effective communication in Kenya?

Kumasi people knows how to splash on real estate


https://www.youtube.com/watch?v=FO8tH8hbJMU


https://www.youtube.com/watch?v=bEo25sa35-g

gallivant:
Is this the highway named after the American War criminal, George Walker Bush?

check the caption
This is Liberation road


What you're referring to is named N1 or motorway extension.