₦airaland Forum

Bui sugar factory increasing capacity to 100, 000 tons


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

rvp2018:
Nothing riles South Africa than seeing progressive country like Kenya nipping on them..Kenya has now disallowed used commercial cars

hope car sales increase from the meagre few thousands 😂🤣

There are too many rusty cars on kenyan roads

rvp2018:
You are consuming a desperate opposition propaganda..as you also look to desperately overtake kenya..something that won't happen in your lifetime as kenya is about to economically takeoff by 2030

😂🤣😂

Civil Servants have done 3 months oo, how long will it take?

AfriqueDuZuid:

why are you being cynical with your laughter 😂😂🤣

gallivant:
Save it buddy. Growth is undeniable.

https://pbs.twimg.com/media/FtA24p5WcAAY4Zy.jpg

https://pbs.twimg.com/media/Fr0aMOUX0AMIV93.jpg

Too tiny and insignificant

The Ghanaian, South African and Nigerian market are all ahead of kenya's

😍😍
https://www.instagram.com/reel/Cq75RS6Nerh/?igshid=MDJmNzVkMjY=

gallivant:
Raw numbers, hold on to your tantrums.

https://pbs.twimg.com/media/FqHocHpXwAci5ot.jpg

https://pbs.twimg.com/media/FqHkP4qWYAQVbk3.jpg

https://pbs.twimg.com/media/FqHmCdUX0AIAAU5.jpg

Too tiny and insignificant

The Ghanaian, South African and Nigerian market are all ahead of kenya's

gallivant:
How was your therapy sessions yesterday or you found yourself a life?

https://pbs.twimg.com/media/FqHzk8YWYAML2G6.jpg

https://pbs.twimg.com/media/FqHmCdUX0AIAAU5.jpg

too insignificant

68816419:
Oga forget Maitama its an insult, No where in kenya is up to the development of old and new GRA in porthacourt

Pls don't let the Kenyan start mentioning a few 100 properties in karen

A nail in the coffin

GeneralDae:
So Zambia is searching for just 188 million dollars from IMF? that's quiet low.

ah just 188 million and the IMF is stressing them like that

They should come to Ghana for it

Obaaderemi2:
He has actually worsened the situation. He introduced new taxes and increased capital gains tax from 5% to 15% in January. Kenyans are angry with him already. He had to go on his knees for Raila to stop the biweekly protests because he knows they could spiral out of control. He can't pay salaries anymore and forex is scarce.

he should have stopped borrowing immediately he took office..... Completely reduce the size of government

Kenya will need to take another bailout from the IMF and even that is not a solution but it will help them

Obaaderemi2:
Ruto will never take the route of printing more money, unless his back is against the wall. Printing more money will send the Kenyan economy into a tailspin. The economy is too small.

Another option is for him to borrow more but not many lenders are interested in Kenya at the moment. The third option is to squeeze little Indians dry with taxation. None of these options is palatable. The drought is another thing killing Kenya slowly. Kenya will default soon and keep owing salaries. Ruto has failed, but it wasn't his fault. He was handed a time bomb by the drunkard. When we were warning them, mkenya kept talking trash and the other kenyans kept saying he was teaching economic sense. There must indeed be a lot of mkenyas in the Kenyan government.

It's actually his fault.

He had one job, if he had done it, Kenya wouldn't have gotten here

GeneralDae:
I support budget cuts and reducing cost of operation. The only problem is that by the time Kenyans are paying for their mistakes, projects would not be continuous as they should be and that would affect growth on the long run.

So in addition to budget cuts and all that, you may have to default like other countries in Africa have done to give yourselves breathing space and use the money for more projects.

Their govt have made the decision to default.
It's the only option for them now... Ruto wasn't smart enough.

They are now calming the waters to institute desperate decisions to prevent a Sri Lanka political outcome

Obaaderemi2:
It doesn't look good at All. Let's see which way the cat jumps for Kenya. But it's woeful already if they can't pay salaries and have to go to Tanzania for dollars.

Their govt have decided to join Sri Lanka in default... Ruto is now calming the waters before the disaster.

Mkenya2019:
You're funny
Kenya can actually print it way out of trouble as most of maturing debt are 80% local debt in KES
Ruto will do almost opposite of what you say.
He will make Kenyans PAY for their mistakes
Budget will be cut. Salaries cut. Name it
We will do what IMF would do.
And emerge from the hole faster.
As our own austrity measures are borne out of "love" than ulterior IMF motive where Ghana has to accept LGBT

If you read the Ghanaian anti LGBT bill in parliament, you won't quote your last statement again

You think Ghana is a hopeless country like Kenya er?

They'll succeed in forcing Kenya to accept it but not Ghana because we've got balls

GeneralDae:
I have told the Kenyans to print money excessively as the only way to save themselves but that would be dangerous too because they may not be able to control the run away inflation and excess money supply given that their economy is not as dependent on local investors compared to that of Nigeria.

Their equity market for example performed poorly in 2022 in the absence of usual foreign inflows, this means if they print more shillings, the Kenyan economy may fail to balance out all the abundant shillings and you then have excess money supply and uncontrolled spiral inflation. It's a tough situation.

only those who understands economic will understand how hard the situation is in Kenya.
You're spot on

Unfortunately Kenya cannot print because the IMF is running their economy at the moment

Obaaderemi2:
Did we not warn them?

They don't seem to learn

Obaaderemi2:
They already told kenyans to brace up for more salary delays. Nigeria even at her worst never owed federal workers. Signs of evil things to come in Kenya.

They borrowed massively like a rich African country forgetting nothing in their economy could sustain such levels of debt. Like a Concorde engine in a Volkswagen beetle.

Now that country is up in flames and Ruto is thinking of reducing salaries. The protests will soon start. The Raila Monday Monday protest is a small thing compared to what's coming.

Every economist who have been following the book knew from as far back as December that they will be defaulting on more debts.

The Kenyan economy has collapsed

Kenyan equity market is the worse performer in Africa..

Foreigners have really shipped out shit tons of money and left the sinking ship.

Kenyans have no where else to go but to sink with the ship

Mkenya2019:
Dont sweat raw or absolute figures. Debt increase. GDP increase
What is important debt to GDP.
We had reduced to 62 percent
But weakining Shs has added 300B KES more.
This one reason why Ghana is bankrupt - external debt is just very risky.
ONLY REASON NIGERIA IS NOT BANKRUPT - it borrows domestically
Every 1shs KES drops - we are adding billions of debt - automatically

External debt is good for fighting poverty (you dont overcrowd private lending) but also very risky (you can easily default if you currency weaken)
Nigeria has chosen to generate poverty and keep the goverment Ponzi scheme going.

Kenya I think we are back up to 65-67 percent debt to gdp - we didnt borrow nothing but suddenly our external debt has increased in KES terms.

The target is to bring it down to 55 percent.

Absolute figures are useless because GDP is growing.

You're just mad

While a drop in the Ghanaian cedi led to a drop in our debt portfolio, in Kenya because of how idiotic you guys borrowed, it's been leading to a massive increase in your debt.

A substantial sum of Ghana external debt were denominated in cedis and sold of offshore investors.

It's just insane that Kenya even sold domestic debts in dollars and that is why your economy is suffering and broke.

Your govt is currently preparing the minds of Kenyans for more default in order to free up some money for recurrent expenditure.

Mkenya2019:
I hate repeating myself daily for your morons with Low western african education
You only hit a wall if you cannot grow revenues or gdp as fast as your debt.
Ghana hit the wall when despite trying all trick (mobile money tax) - revenues just didnt grow - as the economy was ailing
Then you become insolvent or bankrupt

Yes from 2018 - Uhuru should have gone slow - as we started to gross 50%.
I told him many times here to go into debt refinancing - and stop overleveraging.
He of course didnt listen - became a drunkard who kept company of school dropouts.

The good thing - Kenya economy is growing
Kenya revenues are growing

So debt just disappear with GDP growth.

For Ghana and Nigeria - debt is not disappearing - because GDP growth is less than even pop growth.

For kenya it question of SYNCINg economic growth with debt growth - we went out of syncing from 2017/2018 - and we need to dial it down.

Yes we will not be afraid to take drastic action including salary cuts of civil servants
Or retrenching
or cutting development.

To get back on track after our derailment - sacrifices must be made - otherwise we become like Ghana - a stupid child just walking to innocently to IMF and western arms for 10yrs.

You cannot become like Ghana.. my finance minister is too smart than anything in Kenya. Though I don't like him

The guy is been running trading desks on Wall Street for too long so he understands the debt market.

The best thing Kenya can be is Sri Lanka

rvp20182:
The Slave Kingdom with GOLD who have been embarrassing Africa since 15th century got some cheek!

A country literally named gold coast that is broke every 3yrs.

We are tired of seeing kenya reduce all the successes of the black race to a yearly hunger begging and what you guys have done to that broke country will bring this begging to times 12 of what it was.

That will be horrible 😂

rvp20182:
How will that help Ghana - If Kenya was to default.

Kenya is above your Zoo

"Next year, we will bring it further down so that, by the third year, we have a recurrent budget surplus." President Ruto.

I'm more worried for Kenya at this point because the global media will be using your hungry faces around the world to defame black people all over to the point where even filthy indians want to disrespect Africans...
😂🤣😂

A filthy indian in my sis class in Germany wanted to disrespect her African friends and she address her and her poor country from head to toe.

Just like India, Kenya will remain under the toes of Ghana.
Both zoos ain't worthy to shine Ghana's shoes.

You'll not be able to finance your budget for the next 10 years like I told you earlier.. or have you missed the part where the Kenyan treasury told you that debt servicing was rising at 21%?

You'll not see a budget surplus in your lifetime

rvp20182:
Now looping.
Yes, it not sustainable, that is why we are taking steps to fix it.
We have next year 2023/2024 - at 1.4/1.5trillion with Eurobond principal of 2.5B maturing.
Then we are done...we project our debt services will then drop back to sustainable level.
We get balanced recurrent budget surplus for first time in years.

who told you you are done after 2024 ? 😂🤣😂

Your govt debt repayment will Keep getting worse untill after 2030 before it starts dropping. I wish it could be fixed by just snapping a finger and an additional 1.5 trillion kshs will appear to save Kenya

Kenya will default on additional debt before June 2023 because workers will not accept going 6 months more without a salary.

They'll force the govt to default

rvp20182:
You should ask for refund from your school.
What hell did they teach you?

Study the graph below. Maybe the visual will help your undersized brain.

keep screaming noise

What you see on your chart is just borrowing done for months which was part of the reason why they sent a supplementary budget for approval.
That 3 months borrowing was what they used for govt profligacy.
As you can see 351 billion on profligacy...

It wasn't even enough so they sent a second supplementary budget.

Come and learn

chrisooblog:
Rafiki I know Ruto has funded your propaganda office since last month hence the outburst and frustration. Hang in there bro you'll pull through

🤣😂🤣😂

I'm sure he's on a misinformation salary

rvp20182:
https://www.capitalfm.co.ke/business/2023/03/govt-to-borrow-sh700bn-as-it-seeks-to-finance-sh3-6tn-budget/
The government was to borrow Sh 700 billion out of which Sh 198.6 billion will be raised from external sources and Sh521.5 billion from the domestic market.

So far external sources have dried up - apart from IMF loan (400M dollars)
I think there is syndicated loan - gov wanted 600M loans - but has gotten 200m dollars.

Domestic debt - total of 521B - is also behind schedule - as gov reject high interest offers.

Don't even argue with me on facts .. I all the time knows what I'm say.

From your treasury, he planned to borrow 864 billion but 9 months into it, he has done 800 billion...
Before the year ends, they expect him to add 100 billion more and this whole borrowing scheme is a disaster.

Kenya more than ever needs to cut it coat according to it size.

rvp20182:
You use a lot of words to say nothing - thanks to the pathetic ZOO education you receive.
Kenya last year collection 2.1 in ord.taxes - and 200b plus in 2.2.
Kenya has 3 more months to go - and are 8% ahead of last year collection - we will definitely hit 2.4/2.5 trillion.
Kenya reduced the planned borrowing - from 6.2% to 5.7% - in supplementary budget.
Ruto also increase the planned revenues collection - upward

As of now April - gov is way behind it's borrowing target - both external and domestic.

https://www.reuters.com/world/africa/kenya-tweaks-202223-spending-deficit-estimates-supplementary-budget-2023-02-07/

8% of last year means not especially when the Kshs is now trading at 140kshs ... Debt repayment will grow by 21% which is more than 2 and a half times revenue.
Meaning a disaster.

KRA has only been able to collect 1.5 trillion, let say KRA managed to collect another 500 billion for the remaining 3 months, which will be a struggle. That will sum up at 2 trillion KSHS.

2 trillion divided by 140kshs will give you 14.2 billion dollars which is even bellow the debt servicing amount which has gone up by 21% from 14 billion dollars.

rvp20182:
Kenya is not a Zoo like Ghana.
Such data are available easily.
Kenya financial year start from June to June ( I think your two Zoos do Jan-Dec)
You can easily find how much has been borrowed external and internally.
Externally it only about 400M dollars that has come from IMF - out of planned almost 2B dollars ( there is syndicated loan soon to bridge that gap)
Internally - it easy to know what gov has borrowed from Tbills and Treasury bonds

Kenya gov is way behind schedule in borrowing hence the liquidity crunch.

We are not Ghana BACKWATER bankrupt Zoo.

The IMF 400 million was just to help Kenya buy fuel and food...

Screaming over your voice will do you no good.

Kenya needs 1.4 trillion kshs to finance recurrent expenditure and KRA could not collect enough revenue to finance debt payment and recurrent expenditure.

To keep the Kenyan government functioning Ruto decided to borrow 800 billion through treasury bills to finance essential part of the recurrent expenditure despite being told not to borrow and cut down on expenditure by 300 billion.

Now he's has made everything even worse. Uhuru was doing 60billion per month borrowing but Ruto is currently doing 100 billion every month.


Kenya is a bankrupt ZOO

Mkenya2019:
No slowpoke.
Uhuru budget which Ruto is overseeing had projected to borrow 900B.
Ruto revised that to 700B or about in supplementary budget.
However debt market has been tough..kenya locked out of international debt market.
Ruto has not even reach 50% of the borrowing - meaning hardly 400B has been borrowed.
Ruto has refused to pay expensive interest rates - and reject lots of money
That is why gov is struggling because we want to be responsible and prudent - not push the can forward.
We are likely to end the year having borrowed only 600B.
Bringing down deficit to less than 4%.

Next year we have one more problematic year.

Then we are DONEEEEEEEEEEEEE - we CRUISE AGAIN.

Ghana by then would have just nailed IMF program - and shellsacking will begin until 2030s something.

It is always prudent to be factual

Ruto has borrowed 800 billion kshs to finance recurrent expenditure.. how do you think he managed to pay MPs and soldiers, finance the running of the government Machinery and pay the police for the last 9 months ?


The worse is that, at the moment, he can't borrow anymore from the domestic market.

This is his current dilemma

He's either going to crash the Kenyan economy by not financing anything to keep it running or he will crash the Kenyan economy by defaulting on even more debt like he has on 8 debts.

Mkenya2019:
Concentrate on Ghana - maybe you can help her avoid IMF shellshacking

He's saying one thing and doing another 🤣😂🤣

Why Did he borrowed 800 billion kshs from the Treasury bill market to finance recurrent expenditure, paying MP and buying cars as well appointing a huge Govt? Meanwhile workers are going without pay for the rest of the year.

He's only digging Kenya deeper into the mess it is currently in.

Why is his govt planning to do a hair cut on bonds and treasury bills ?

chrisooblog:
The bold is really scary. Only option is to borrow for capital projects which will further jack up their already elevated debt to GDP ratio.

In all honesty every major African economy is going through it right now except maybe Morocco.

If Tinubu can resolve the subsidy removal and its fallout that should buy Nigeria some time in the short term.

It looks like Ghana is slowly but painfully coming out of its economic turmoil.

Yes... The Ghanaian govt seem to have used the repo market and reverse repo...

It has cool things down