₦airaland Forum

GeneralDae:
Yeah interest payment of course.

Debt restructuring and IMF policies at least in the short term have worked for Ghana. The problem is: What happens after the IMF umbrella program in say the next four years?

Zambia's problems are bigger because of huge Chinese debt. Ghana's IMF second tranche loan of 600 million dollars may also be slowed down due to failure in restructuring of the 1.9 Billion dollars Ghanaian debt to China.

Actually, china is not the reason why. My govt is

Saddamochieng00:
How long do you reckon it'll take for a country like Ghana and Zambia to recover compared to ours that has rolled out all this austerity measures to pay back all the debt.

Ps My bad. I didn't realize the 30 million was interest payment.

Ghana has already recovered a great much , so you're already behind

Motorway 6 interchanges coming up



https://www.youtube.com/watch?v=t3raNFxfbt8?si=tO99azhTWHQVXda2

Broadcasting hill

Mkenya2019:
Took you 2yrs mad cow to accept that Ghana is bankrupt.

We will give you 2 yrs to realize kenya is never going bankrupt and has no blackmarket for dollars

You mean the same Ghana that is carrying out big projects is bankrupt? Let me know when you wake up from that slumber 😂🤣

Madness is doing you.....you think every country is as bankrupt as Kenya er?
We all know Kenya is bankrupt and that is why your govt will not be able to carry out any project for the next 2 years. A 120% of your revenue goes to debt servicing and wages alone.

Tell your central bank that Kenya has no black market 🤣😂
Even I will never say that Ghana does not have a black market especially when I know there's one single place in all of Ghana where people can exchange money outside official bureaus.

Mkenya2019:
Took you 2yrs mad cow to accept that Ghana is bankrupt.

We will give you 2 yrs to realize kenya is never going bankrupt and has no blackmarket for dollars

...

Mkenya2019:
Mad cow from bankrupt ghana

Tantrums from a mad baby orc in bankrupt Kenya.🤣😂

Why does the truth hurt you so bad?

gallivant:
Rubbish.

Send that to your central bank, kiddo 🤣

GeneralDae:
There is parallel market in every country though. What you would say is that the one in Kenya like in US, Europe, etc is not popular, hence has a very close margin to that of the official.
Parallel market diverges from official anywhere whenever there is a signal of FX shortages via Banks or official routes.

actually there's a very big market of currency hawkers all over Kenya...The Black market is so large that their central bank is blaming them for the shilling depreciation

Baller254:
bro what are you saying?

I'm referring to Eastleigh

68816419:
Ghanaians in the House, How do we solve this menace ?

https://www.youtube.com/watch?v=LGBqUM29vic

why should there be a stop to this?

It's actually the most efficient recycling system in Ghana, you stop it and metal waste will pile up in people homes.

These guys go from home to home buying metals and electronic waste, they thrash it and recover the metals which they sell to various refineries in Tema.

Mkenya2019:
There is no black market for forex in kenya.

keep saying nonsense.....those hawkers selling currency in Somaliland in Kenya, who are they

Harmattan came early


https://www.youtube.com/watch?v=QZeTPQxSXIY?si=mrd9uQO0g0pOYC4A

Saddamochieng00:
These guys lie like they breath. Please tell me I'm not the only one who finds this highly disturbing.

Which one is the lie ?

Something that every Kenyan is talking about, you're here lying why calling someone else a lie for voicing it out.

Winneepye:
What did the statistics say they consumed are they luxury or necessity items ? This because the fact that I don't spend my money on things I think I can source locally does not make me a poor man.

consumer spending is usually calculated on consumables necessarily in the areas of necessity

GeneralDae:
You were the one who started making it the argument based on per capita.

what did you understand by number of people who can spend 10 dollars a day?

It surely wasn't about the total consumer spending of a nation.

You were the one who brought the yearly consumer spending of Nigeria to claim how Nigeria is the boss.

Per Capita gives you the spending depth of each society.

GeneralDae:
Can't find it please. Post the World Bank report again. Just for my sake.

I don't have it on my new phone ...you can take the graph of yesterday, it's the same thing and if you don't like that
Take this from statista

GeneralDae:
Our argument and your so called report is not about per capita but just the pure numbers, isn't it?

Is that what you understood by individual consumer spending or number of people who can spend 10 dollars per day?

Then you have to go and collect your fees back 😂🤣

GeneralDae:
Give me screenshot of the World Bank report. I can't find where you posted it. Just only the World Bank report and I would end the argument.

do you have a reading and comprehension problem?

Did I not post the world Bank data in a chart yesterday or so and posted similar research from statista in a graph yesterday?

If you want the actual data, search the platform...it was a discussion between the Kenyans and I. I posted the link over 10 times here.

GeneralDae:
This is consumer spending report for Nigeria Ghana and Kenya from 2019 to 2022. Compare and Contrast. Ghana has the lowest total consumer spending out of all three.

Nigeria consumer spending in 2022 was 273 Billion dollars, SA was 256 Billion dollars, Kenya was around 80 Billion dollars and Ghana at 55 Billion dollars.

https://www.macrotrends.net/countries/NGA/nigeria/consumer-spending

The real boss here is South Africa.

Let's keep Nigeria 2022 population at 200 million, 273 billion divisible by 200 million is 1,365 dollars.
Divide this by 365 days and you have the average consumer spending at 3.7 dollars per pay.

Ghana 55 billion divide by 30 million and you have 1,833, further divide by 365 days and you have 5 dollars average consumer spending per day.

South Africa 256 billion divided by 60 million people gets you 4,266 dollars, further divide by 365 days and you get average consumer spending at 11.6 dollars a day.


Kenya 80 billion by 54 million people get you 1,481 dollars, further divide by 365 days and you have average consumer spending at 4 dollars per day.

South Africa comes first
Ghana second
Kenya third
Nigeria 4th

Winneepye:
Why would Nigeria spending be estimated based on dollar when Nigeria actually spent naira.

Almost all Nigeria foods are local produced except when buying imported products for luxury.

another angle to the conversation.....that is why I even told him that 10 dollars is 13,000 plus naira and it is a very large some of money in Nigeria

GeneralDae:
There is no data to show that 99% of Nigerians do not make or spend 10 dollars in a day.😄

Nigerians and Kenyans together with SA spend more money on things like KFC, Netflix, and Spotify than any other Subsaharan African nation. How then is it possible that 99% Nigerians cannot spend 10 dollars a day ?😄😂

Give me just one screenshot or link of this World Bank report and I would concede this argument.

I've just posted two already and they all say the same thing 😂🤣
99% of Nigerians are not in the 10 dollars spending range.

One from statista and another from the world Bank...if you want the actual site of the data...just search this platform or the previous one and you'll get it because I've posted it several times here.

Buying 7 dollars and 11 dollars Spotify and Netflix monthly subscription does not compare to spending 10 dollars a day.
How many Nigerians even go to KFC in a day to spend 3 dollars and 5 dollars on their food? 😂🤣 For most Nigerians it is like saving up Money to one day have a feast 😂🤣
I'm just being real bro..

Just look above , there are various screenshots with similar information.

Basically, all of Southern Africa are faring better off because they have a good proportion of their citizens who can basically spend 10 dollars a day without reaching empty pocket hence they are considered the best consumer markets on the continent.

Nigeria is considered base on economics of scale

GeneralDae:
Unicorns (Companies worth over 1Bn dollars).

My point is that it is impossible to have such a much smaller private sector as we see in Ghana as compared to Nigeria and then see more people spend 10 dollars there than Nigeria.

This is because the bigger the formal private sector, the more they employ consumers who can at least spend over 10 dollars daily.

Even aside that, looking at it from every other angle, it is just impossible to have Ghana as 2nd on that list.

The point still stands. You cannot find any report directly from the World Bank that states this.

waa see...now unicorns are synonymous to the size of the private sector?
Where does none unicorns fall?

You have forgotten how much of a big money 10 dollars is in Nigeria such that 99% of Nigerians do not even make that in a day to be able to spend in one day.
We are talking about 13,000 Naira here 🤣😂

You're dragging a fact from research done by so many credible institutions and come out with similar results.

vaxx:
The only thing china has over Germany is her population .if you are talking about building , I don't think there is anything in china that is modern or old that is as beautiful and well structured with artificial layout like cologne cathedral. Infact cologne cathedral might be the best single building in the entire world . It is just a master piece when the world is not open as this.

Nevertheless , every part of Germany city is developed . When it comes to sophisticated project , it is either Germany or none.

A real life cyber city

Being in this city feels like you're in a game set in the Future


https://www.youtube.com/watch?v=up5m8mRq6EU?si=cPrBb9ailEtccifI

There's nothing in Germany like that

Downtown is always nice


https://www.youtube.com/watch?v=q35il61fKc8?si=0lZNAAAXM0msNHIB

AskiaHarem:
“Detailed household spending report” via blog.

you're acting like a girl child

statista, World Bank and various other organizations ain't blogs

Shma2022:
Tell who, a hobbit? That's beyond the bounds of possibility. They could have done that immediately they posted the trash; if the link for such great news was actually there.

I've posted that world Bank link here 1000s of times and this is not the first time we are having this conversation Orc

But as usual, you forgets facts that are not in your favour 🤣😂

I'm currently using a new phone, so if you and general want that link, you can just search on this platform and you'll find it

Shma2022:
Simple logic demonstrates more dollar millionaires in Nigeria and Kenya than in Ghana - these are filthy rich populations. All cogent approaches put Ghana below Nigeria and Kenya. I wonder what the hobbits are on about.

Now you're celebrating individual wealth?
I thought you guys used to laugh at Nigerians when they mention dangote....

What good are those few wealthy people when tens of millions can't even afford to spend 10 dollars a day?

Shma2022:
Let's try the Third one.
____________
SIMPLE MATH!
Population living above the $6.8 mean a day ( from the recent fair stat) — Ghana commands 79%. Simple math( 100-79 = 21) / 100 *30M = 6,300,000
Kenya (100 - 86 = 14)/100*48M = 6,720,000
Nigeria (100- 90 =10)/100*200M = 20, 000,000

Nigeria - 20M
Kenya - 6.7M
Ghana - 6.2M
___________

What are you failing to understand?

So Ghana has 21% and Kenya has 14%

Except we are not using 6.8 dollars but 10 dollars and at this range of consumer spending, Ghana has 5.2 million and Kenya less than 2 million. Which is still a larger percentage of Ghanaians and only about 5% of Kenyans.


This brings into perspective how poor Africa is in relation to a country like Indonesia

GeneralDae:
Give me this World Bank report directly from the World Bank.

If the highest number of millionaires in Subsaharan Africa are in:

SA
Nigeria
Kenya

How then is it possible for Ghana to have more consumer spending power than the last two of these three countries?

If companies worth 1 Billion dollars and above are also in SA (123), Nigeria (23) and Kenya (7) before Ghana (4), how then can Ghana with just 4 unicorn firms have more consumer spending power than a country with 23?

Local stock market shares also, thesame story.

Mention any consumer spending indices you can think of based on anything , it's always:

SA (far above), Nigeria, Kenya

you've bundle Soo many things into one comment such that I get the feeling , you're absolutely confused.

What has unicorns got to do with individual consumer spending at 10 dollars, which I posted?

vaxx:
That is a big lie bro. I welcome the latest infrastructure springing up in china but this are joke comparing to sophisscated project you will find in Germany. Even black forest in Germany which is termed less developed will compared handsomely with shanghai

Combine all of Europe and they'll still be less developed than China
You have not been to China, I've been and been to Germany as well.....nothing in Germany wow and Impressed me as much as China .....

The only thing Germany had over China was technology and Cars but even that, the Chinese I've taken over.

Gone were the days I used to laugh at Chinese cars but not anymore...they've made so much improvement that make German cars look like toys.
The Chinese are world leaders in EV and slowly going to put German brands under because of their inability to compete.

vaxx:
By absolute number, sure , china should be leading . It is about size .but we are taking about which one is better and per excellence , china doesn't near Germany. Germany is more developed than china on any metrics except by size . Infact the gap isn't close . Talk about japan bro

The Chinese build some of the best bridges...The kind of bridges I've seen across China can hardly be found anywhere in Europe.
Germany is not as developed as china in anything infrastructure.