₦airaland Forum

jl115:
once you produce just 5% the electricity we generate then we'll talk

That was mean

Rush hour at Nkrumah circle

Kumasi Accra dual carriage road passing through the Eastern Region

Dual carriage at Amaanase in the Eastern Region

Rice farms in the North East Region of Ghana, Janga

rvp2018:
Since 1999 - IPPs - Independent power producer came in - kenyans always pay forex charge on their electricity. IPPs signed agreement to provide us power for 30yrs - and those who import oil/thermal - have forex charge on them. KPLC have to buy dollars - and Kenya banks are making a kill from forex - so it make sense if they can charge source for own cheaper forex.

We are okay - because we dont have rolling power cuts like South africa, Nigeria, Tanzania, Zambia and Zimbwabwe - who are all struggling for non-investment in the sector and dependence entirely on hydro or coal - or of course being totally rudderless like Nigeria.

dumbest thing ever said here


Is the Kenyan shilling no longer the legal tender of Kenya?
Where will 60 million Kenyans get dollars from to pay their bills when Kenya power itself can't find any?

You guys don't seem to know where the bottomless pit ends , you keep digging deeper.

Wasn't the entire Kenya shut down last week because of complete collapse of the grid?
Has there not been rolling blackout in the entire country for the last 50 years now?

rvp2018:
You're really scouring the internet looking for bad news; misery love company; you should try see if Nigeria the big Zoo will provide company.

2000 - that is 22yrs ago.

Kenya has new modern constitution enacted in 2010.

22 years you say ... Wasn't my education minister rush to Kenya to give you another lesson?

Don't we have to educate you guys every year on all front of nation building?

Saddamochieng00:
Shut up already. Can you explain to me how someone in a supposedly "civilised" country is roasting goat meat by burning car tyres? And here I was thinking I'd seen it all with your brother's eating cow hide but no this is on a whole other level.


https://www.youtube.com/watch?v=sTio_0rwR1s

no one roast goat meat with tyre

Tell me why someone in a civilized country allow children to scavenge on dump sites.


https://www.youtube.com/watch?v=0B_vZCLDs-M


https://www.youtube.com/watch?v=zOtshu8Fr9c

Kenya power is already rejecting the Kenya shillings
Useless currency

You guys have not seen anything yet ... After making Kenyans pay the highest for power on the continent, Now it can't find forex and has resulted to abandoning the shillings.

This is straight down the hill to Zimbabwe.

Another good Ghanaian educating Kenyan MPs on the powers they have

The education never stops

vaxx:
kenya is sick financially .

yeah ... Kenya is a dead man on IMF bed.



That is even old, The new one is KQ defaulting on it loan obligations making the Kenya govt carry an albatross on it neck when it doesn't have any free money lying around hence another default.

rvp2018:
First stop the anger and insults - it's going to be 20yrs minimum before Ghana recover.If you're in a mess dont assume everyone is in a mess.

Almost every year someone in a mess - this Ghana decade. Dont assume the rest of world are struggling majority of world are doing just fine.

In kenya I am not aware of someone operating dollar account being limited. If anything, there were murmurs of struggles when BUYING forex.

What is in your account belong to you. Youre not buying forex. This money in the account.

Ghana is already recovering and it will be done in 2 years...

Cry for Kenya as there's no end in site for your ongoing classic default

rvp20182:
The mad cow is wasting his time and energy fighting FACTS.
Those are incredibly stubborn things.
Their own gov admitted they a f.cuked until 2037.
The loss of trust is biggest problem - both domestically and internationally - and locks out Ghana from borrowing without security.
They will only have access to AID money - World Bank and such "loan" as AID.
Once IMF get done - maybe in 5-10yrs - they might get access to bilateral lending from friendly countries.
It will be a decade before someone can buy ghana treasury bonds or Eurobonds.
And they will demand crazy interest to take care of their risks of another default.

It's easy to default but it's incredibly hard to come out of it.

Ask Argentina. Zimbwabwe and others.

Argentina started in 2001 - now we are going 30yrs - they have yet to recover.

Ghana is already borrowing and there's no lost of trust

I guess you think Australia defaulted too


Stop casting your insecurities about Kenya default on us... You can swim in that sea with Zimbabwe, Sri Lanka and co

popizaino:
Trust the mad cow to come here and deflect to Kenya topics. This is a Nigerian saying the same thing you have been telling the mad cow but like the typical timid Ghanaian he is,he will never own up to this obvious hopeless situation Ghana is currently in, but keep clutching at every straw available. Since he has sworn never to agree with you,i will keep posting screenshot that agrees with you to keep exposing his foolishness.

The person you posted is as dumb as yourself

There's nothing like no credit risk when it comes to bonds, many people think it is a risk free investment vehicle because their investment houses usually hide it from them and just like this guy expressing a dumb opinion on bonds, so are you also posting a stupid empty comment like a he goat.

Read the attachment, it's from Australia...
If you understand it, you'll know it's similar

Market approach to bond yields carry a risk that can be beneficial to creditors when inflation keeps going down and they enjoy it a lot but it can also be beneficial to the Sovereign when inflation is going up because yields will have to drop.

You can also thank me for the free financial education... Now you can run to your banker to enquire of your risk exposure.

rvp20182:
Ghana. Banking crisis starts. Sobbing Women here claims to have gone to withdraw 2,500 cedis...her bank only allowed her 250 cedis.
https://twitter.com/GhanaSocialU/status/1599709957003235329

And it get interesting - the pensions, AG of Ghana and pretty much reject the unilateral decision to force them to take losses

You're really desperate oo
Everyone is withdrawing what ever amount of money they want without problems because the banks are highly liquid.

Even Mobile money transaction on the banking platform alone is 1.4 Trillion Cedis That is more than the size of Kenya economy

Now let me deal with your issues.

There's something in bonds contract called "Exit Consent" and this allows the Sovereign to issue new bonds to replace old ones that had zero to negative rates because of market conditions.
Exit Consent means everything was a consensus so there's nothing like unilateral.
Ofcourse there are outliers who will feel aggrieved.
In the bond market, we call them "Holdout" Creditors

It's pretty normal.... I know these things sound new to you but don't take my word for it, you can read it for yourself in the attachment.

How does a Sovereign deal with Holdout Creditors ( you may ask)
There's an international bond code call "Stay of Creditors legal remedies" but this is too harsh so holdout creditors usually return to the amended non payment clauses in their old bond agreement like The financial Covenant or Waiver of Sovereign Immunity.


Say yes sir, Master, I understand now

This is free education oo, you're doing your PhD here

rvp20182:
Why would I cry yet I have never and will never invest in Ghana gov bonds?

You should cry because your own pension, insurance and investment is going to be affected.

""After destroying the economy through reckless borrowing and corruption, the Akufo-Addo government is refusing to pay people who have put their lifetime savings into buying government bonds."
https://www.msn.com/en-xl/africa/other/economic-hardship-to-eat-away-pensions-bonds-and-insurance-finance-minister-bog-governor-tells-heads-of-financial-institutions-in-secret-meeting/ar-AA14UKRG

And you think this is a joke!!!!!!!! default is big big mess - your own gov confess this hole will be filled up in 2037

They confessed on a secret meeting to the Financial Institutions that the country’s debt crisis will last till 2037 with lots of unintended consequences on every facet of national and individual lives.

Keep crying... I taught you said it wasn't a consensus

You don't have money to invest in Ghana, so don't bother.
Ghana has the best returns on investment on the continent and that is why the likes of Franklin Templeton Investment has huge interest here.

Like I said, education is free

vankelvin:
These people I know them, some of the monies are going into their pockets

not really.... You can check out the auditor general report

rvp2018:
Look at these Ghanian mad cow.
What you did is default then force investors to extend their maturityy
When you're broke; you cant pay; but at least you said we will pay in the future.

As for bond swaps/switch bonds - almost everyone does that - you offer investors the chance to say yes or no.

The bond or debt holders can choose to extend the maturity of the loan and earn more interest or not.

When you wake up on Sunday - force all bonds to start maturity in 2027 - and give them ridiculous interest - you're asking investors to take huge losses - and you're going to lose market trust - locally and domestically - and for next decade - only IMF/WB - can lend you.


Below is an example of Switch Bond of 87B Kshs- where Kenya gov asked bond holders to extend their bond maturity.

60% percent accepted at almost 14% interest. The rest refused. Kenya gov will therefore pay those who refused.

Interest jumps 72 per cent in new bond switch initiative: Investors who opted to roll over their securities into a new infrastructure bond will benefit from rising rates in government debt. #CBK Read more on
@BD_Africa

Ghana defaulted because it resorted to basically can't pay now and will pay what we want when we want and poor investors have no option except maybe go to court

cry me a river, cry blood, still we are not joining Kenya there.
Education is free

Final education of Lunatic Kenyans on Bonds

Reselling bonds is not a default.
If you won't take it from a prof like me you can read it from the investment community on Investopiedia

Not every country is as backward as Kenya or bankrupt like Kenya to default. I know you want company in your classic default so that you can argue that, even a better country like Ghana defaulted but that's not the case.

Take solace that you're at the same level with Zambia, Sri Lanka and co.

vankelvin:
They are not even spending up to that amount

that's what they spend on entire program

GeneralDae:
I think Egypt actually has the highest remittance in Africa with about 30 Billion dollars. Nigeria used to get around 25 Billion dollars at some point. Nigeria is top in Subsaharan Africa and 2nd in Africa.

I thought we all knew that when they say Africa, mostly North Africa is not part because they add them to MENA

As usual

vankelvin:
They refused all advise to start the FSHS gradually. Sake of some cheap propaganda they decided to do a full scale programme and we are where we are today. I'm not impressed with this FSHS at all.

FSHS only cost us 2 billion per year.. that's peanut money

vankelvin:
I have stopped listening to morning shows cos I always get angry after listening to some stupid communicators

Well I've not listen to one in the last 6 years because it always made me pissed but someone promoted me to listen to something this morning and it was quite sound

vankelvin:
I prefer the Rwanda style

Paul Kigame doesn't allow free speech
He is very autocratic and all but the guy is working, he is walking his talk
Unlike our clueless arrogant President who will talk plenty and do nothing.

Even in our current situation he and his appointees are still living lavishly and they won't listen to any good counsel.

Leave that to Kenya... Ghana doesn't deserve that kind of despotic system

vaxx:
they are some social intervention the govt embarked on that really caused this mess . And I called it necessary debt .

The free education for instance , even if you are to blame them for anything , remember many student are schooling and eating freely .

I agree this is not what we bargain for ?

Free education is not part.
It mostly their attempt to buy shares in the oil and gas business in their family interest using public debt and also create alternative fuel supply businesses for the power sector (a 5 billion dollars turn around business)

Mind you, their main aim of coming to power was to create a financial behemoth around the Akyems side of the NPP faction.
Doing so will make them control the party for ever.

This is why Ken has risen up for the Asante side.

vaxx:
The open speech in Ghana gave birth to that ........ Have you wonder why no negative remarks comes from rwanda , it is always rossy there ..... what do you think .

The Ghanaian social class is well connected on both Wall Street, London and Frankfurt and the data flow is like a highway.
No wonder the Kenyans had to come to Ghana with 38 MPs and their economic team to seek our help with their debt freeze negotiation

vankelvin:
I'm praying for the day they will become fed-up and start talking. Now Kuffour has started speaking, he's seen nothing yet

Kuffour and all the rest raise a beast they can't control and he has done them dirty.. no wonder Ken is washing all of their dirty laundry in public.
Did you listen to Bernard this morning?

vankelvin:
[b]
Because Kenyan leaders are not too arrogant and too-knowing like what we have in Ghana.
All the problems we are facing are self inflicted.

The Opposition and the technocrats forsaw this situation, they made all the noise they could but the clueless President and his stealing machinery(appointees) rejected any opinion.
Its a lesson for the supporters of the ruling party. In all of this they are suffering more than any Ghanaian

they've gone quiet for some time now

What the Kenyan govt saw 6 years ago and opted to build an elevated road of their own
The beauty in orderliness..


https://www.youtube.com/watch?v=cHHA23ll0BY

obaaderemi:
I wonder why Steve Hanke always had nothing to say about Kenya's data. Is Kenya so irrelevant, that the only thing he had to say had nothing to do with Kenya's stats but a jibe.

Because Kenya does not subscribe to open data and efficient economic data reporting..
Basically another Russia or North Korea

rvp20182:
Mad cow.
Today your own gov admitted that debt has long passed 100% gdp to debt.
They hired 5 different intl consultancies - plus IMF technical team - all came to conclusion - Ghana economy is gone - debt is now 120% to gdp
Stop talking about GDP
That one will crash!!!

I know you don't know how these things work ...
Basically, they pick the debt and measure it at prevailing market rate and compare it with GDP at beginning of year (basically recalibrate higher exchange rate and quasi-deflate nominal GDP), it'll be at 105% percentage. I know your head feels like exploding at this point.
Economics is not for the faint hearted

Now the year is almost at an end and end of year GDP is 80 billion dollars which becomes the new base year for reporting while the debt is at 48 billion. So basically we are at 60%, so I'm not surprised my finances minister quoted it at 68% in his last reporting in October or August.

Proof from Ghana budget statement ... You need to try harder
These things are above your tiny Brain.


Looking at Ghana's borrowing pattern, it can only get it debt to GDP ratio to below 55% which is the recommended rate for economies like Ghana and Kenya.


Meanwhile as we speak the Kenyan GDP is at 13 trillion kshs (106 billion dollars) while debt is almost 9.4 trillion kshs