₦airaland Forum

rvp2018:
Then why are the books still reflecting Ghana owes all that billion if you've run profitable venture.
I think you're ignorant.

Kenya SOES - whatever sector - borrow money of their own - KQ borrowed close to a billion dollar to buy planes
Kengen - borrows from Japan - to build dams.
SOES borrow from US or China or France or Italy or UK or wherever
And unless it such a big sum - it's really their money - and their security - if they fail to pay - Japanese bank will come and take their asset.

Now on very few instance we have public gurantees - where Treasury accept to be gurantor of SOE - like KQ 700M dollars to buy jets.
This year KQ was unable to pay - KQ will take care of them.

Gov of kenya borrows to do what Gov should do - build roads, provide free school, healthcare - not invest.

Investment is separate arm of gov - and gov is just a shareholder - either alone or most of the time with others.

you want to compare 700 dollars to 13 billion dollars?

The books are still showing debt because we're still borrowing to invest in more fuel securities for our economy and laying pipelines to various places expanding our economy.

Europe does not want to invest in fossil fuels and recommending Africa keep it fossil fuel in the ground but it is busy roaming around Africa looking for gas so it doesn't freeze ... Why don't they turn on their solar and wind power on to provide electric heaters enough power for heating?

So my govt have to step in to provide investment for our gas sector.

Shma2022:
What is buttocks? Fats of your @nus? Or muscles of your hips?

A grown man asking me to educate him on what a buttocks is...

It is a fat part of your body overlaying 4 muscles

Shma2022:
1 + 1 is two. We need to check the nitty gritties of what makes middle income. Just by scrutinizing the aforementioned stats--- we will know the status quo of your living standards.

You can try developing your country in an urban way so you can finally have a large middle class instead of the 86% poor people

Shma2022:
Try lethal vocabularies like gluteus Maximus or rear ends. What is "buttocks"? -- that is a village - stone age punchline.

dumb child .. if you had done sports in school when you were growing up, you would have known that gluteus maximus is just a muscle of the hip

Who really educated these illiterates?

obaaderemi:
Brain? What brain? His brain has fallen into the space between the two fat black cheeks of his buttocks.

Brain freeze.. usually cats and things have it and when humans have it, it can be a lot painful

Shma2022:
Try to think.

Let's tackle tax revenue and real estate value. It will give us more insight.

If you don't understand --- I will let you wallow in the miasma of ignorance and stupidity.

Now you have taught about it and running away to a different conversation

Now you want to expose yourself in real estate too for me to make you know how small you are again?

Shma2022:
I didn't see this bunch of gibberish!

If I've to be honest with you, I will frankly tell you that no Kenyan is inspired by Ghana. Conduct your own in-house survey -- hit youtube and all social platforms. You'll never see any Kenyan wishing to visit - talk less of living, in ghana. Ghanaians are flooding Kenya already - we can see the number of short guys on the rise, that's an evident-based fact.

Heck --- on the living standards, you've spewed arrant nonsense!. WB has outdated data. But even so, the same WB says only 10% of Kenyans live at poverty( lower middle-income class) those surviving at $2.15 per day - and that was in 2019. In 2000 - Kenya was doing 37% --- the figure has been on a downward trajectory since 1999! Meaning, perhaps we have less than 8% this year - Ghana is doing 26.8% (those spending $2.15 a day).
Unemployment rate in ghana is 13% Kenya is doing 9%... That should also give you some insight into what you're talking about.
10 dollar is just a paltry ksh1200 -- meaning, ksh36,000 expenditures per month( 300 USD) --- Ghana with 46% middle income class, a whopping 26.8% are lower middle earners: Kenya is 10% from a total of 43% middle income earner. So, if we have to go with $10 per day, in Ghana; Then we will have more or less 3% of upper middle class. Cos the yardstick for your 46% - 13M were based on $66 to $165 expenditure per month($2.2 to $5.5 per day) --- both low and upper middle income respectively.

Coming back to the upper middle income; those who spend above $1666 (around ksh200,000 a month) --- $55 a day!! Are already past the threshold of 10% of the total Kenyan population --- meaning, your submission_ on " 95% spenders of $10 a day" is a fallacy rooted in ignorance.

So forget about WB if you can't read and decompound its data.

The data is right Infront of you yet you're still misquoting it and trying to massage the figures?
Well I'm not surprised especially for someone from a country with 86% poverty at 5.50 dollars



What is wrong with you Kenyans and fraud ?

Facts are just facts kiddo

I'm sure you're having a brain freeze

POKUASI2:
bro I'm talking raw human waste in black rubber in front of kaneshie market ran over my cars.
This same kaneshie is one of the city centers
Secondi harbor, the entire community poo on the stones used as sea defense wall.
I mean the entire community!!

why do you like to lie this bad?
So who are you badly trying to impress?

Sekondi Takoradi where you can't even drop a Plastic bag on the street or gutter with being asked to pick it, you want to go and shit on their sea defense wall for the Navy to manhandle you?

Be smart in you lying a bit

rvp2018:
Yes I watched a video of kenya girl - and she talks about the smell - when she landed in Accra. Ghana's Accra has been voted many times the dirtiest city in Africa. That takes some hardwork in being dirty. Now I can only imagine the rest if Accra is the best.

The problem is total lack of modern sewage system apart from old central Accra CBD

Then dumping of overflowing cesspits and soakpits by trucks on the oceans - and then flooding come - and dump everything everywhere.

we can ask African traveller to see why he was strucked by how clean Accra was which made him draw comparison to how dirty Nairobi is ..
Or we can just look at Dr Ngozi Okonjo-Iweala holding her nose in Nairobi and ask her why.

You won't have that in Accra... Neither will you have that in Takoradi or Sekondi unless you're at the fish preservation area.

Or you think the nonsense in Nairobi where all your drains are open and over flowing with spilled sewage is the same thing that happen here.? No wonder yearly cholera is maiming more Kenyans.

rvp2018:
So why is Ghana gov borrowing on behalf of utility companies?
Why cant they not borrow money themselves?
Is the Ghana the gurantor? or what is the issue here.

As far as I know Ghana treasury took the money and used the money - and must repay the money

in Our 3 years power crisis era.. we needed to inject huge capital to acquire new generating capacities and ensure our fuel security.... An investment size that only the govt can marshall quickly. So the govt the govt borrowed 13 billion dollars and put those loans on the book of all the new power ventures that it created .... 5 years down the line and almost all of them have finished paying back those monies and we have solved our electricity issues. Now all those assets are debt free and under collective management.

So the Govt was just a guarantor of the debt...

So as you can see... We don't spend borrowed monies on loss making ventures.

Learn and stop wasting Kenya expensive borrowed monies on loss making ventures and Kenya won't find herself in the debt crisis it is in

POKUASI2:
exactly. Including cooking utensils.
Matress ETC..
The buy used underwear for men and women

the underwear you wear, is it used?

90% of cooking utensils used in Ghana are made here .. Go to UTC and see..

Are AshFoam and Latex Foams imported?

POKUASI2:
kwashieman
Ashiaman
Darkuman
Bubiashi
60 percent of Achimota
70 percent of Adabraka
Mallam.
Pukuasi town
Teshie
80 percent of labadi
40 percent of spintex
Odorko
Kaneshie (aside North Kaneshie)
70 percent of OSU
Fadama
Agbogbloshi
60 percent of tetegu
50 percent of kasoa
The entire kokrobire enclave

let's see what you've mentioned If they are slums

This is Kwashieman.. which part of it is a slum to you? It road are well demarcated, with electricity, water and drainages.

https://www.youtube.com/watch?v=Chd4vtNrgTw

Yes Ashiaman is a slum.. it is one of the few slums in Accra

This is the Kaneshie, Bubuashie, Darkuman area... Can you show where is slummy.? The place might be old as old as the 1900s with one of the oldest market complex in Africa.

https://www.youtube.com/watch?v=Ue1JQt4QeQ0

Achimota... How is it a slum?

https://www.youtube.com/watch?v=vgX5H7RmKFc

https://www.youtube.com/watch?v=RHw9VaNdTKM

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

Adabraka.. find us the slum... One of the oldest places in Accra with properties there dating back to 1800s

https://www.youtube.com/watch?v=ruNWf8FevUM

Mallam... The tiny slum under the hill of less than a 100 people is inconsequential to the larger community.

https://www.youtube.com/watch?v=2cAkiKx9rMg

Pokuasi... Does this place look like a slum to you?

https://www.youtube.com/watch?v=XqHORrEihy4

https://www.youtube.com/watch?v=IEv6IG0LnOs

https://www.youtube.com/watch?v=SYlgOBv8vhI

20% of Teshie is a slum... Mostly the beach side.. the rest is a developed Ga township.

Labadi.. not a slum

https://www.youtube.com/watch?v=EvEn9b92vCw

Odorkor, Mamprobi, Banana Inn... Accra urban poor areas still well developed... Is that a slum to you?

Osu.. madness is doing you

https://www.youtube.com/watch?v=rxhB2kOD3qI

Nima-Fadama is a slum.. which is one of the 4 slums in Accra

Agbobloshie is a demolished market... Not a settlement

Tetegu... Does this look like a slum to you?

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

https://www.youtube.com/watch?v=L2EGmKAqEXg


Kasoa is not Accra and Only 10% of Kasoa is a slum.. mostly around the old market which is around the interchange...

Kokrobite .. from the hill to the beach.. a fellow Nigerian video of the area


https://www.youtube.com/watch?v=ypvftFLj-xI

https://www.youtube.com/watch?v=ePKAr_5YkXM

https://www.youtube.com/watch?v=jDG17iQstpA

rvp2018:
Madman - why would a Ghanian based company like Anglo Ashanti or Tullow or MTN pay for your gov debt with their hard earned dollars while their shareholders in London, Newyork, and Johannesburg are waiting for return of investment with same dollars.

Your gov has to pay it's own debt by finding it's own dollars. If not it has to buy. Otherwise companies will pay Ghana gov in Cedis for their taxes and royalties - the dollars they will keep them safe - outside the country - to protect them.

You can only grab poor cocoa farmers dollars because they are not as powerful as Anglo or MTN or Tullow.

For the rest - gold or oil - send their exports abroad - get paid abroad - keep the dollars abroad - send as much dollars as is necessary to pay taxes and keep their operation going on in Ghana. Only MTN type that get paid in Cedis is in trouble because they have to race against cedis to save something for their hareholders in Joburg.

Are Tullow debt or MTN debts guaranteed by the Ghanaian govt ?
You're really slow
Does MTN earn in dollars?

utility companies borrowed 13 billion dollars Which They've manage to pay off with the exception of a revolving 6 billion dollars.
Ghana borrowed 22 billion dollars to finance the development of it various oil and gas fields which are being paid off by it various oil and gas companies.


Kenya does not have this advantages so your debt has become an albatross on the neck of your govt and now Kenya is on IMF austerity death bed

popizaino:
Don't be impressed by nothing.

The bolded is not peculiar to Ghana alone,even the much ridiculed countries on this thread like Benin republic, Togo,Senegal, Mali,has were people are ready to pay such an amount or even more for an off plan projects. Just start a foundation anywhere in Abidjan and you will see people queuing for rent and i am not even capping. What should rather be a concern is that is the value really worth it ? How can you pay such an amount for a basic building were the whole area is filled with red earth soil,open gutter,containers littered everywhere? Will that amount not get you something better in another country? Ghanaians are just been ripped off nothing more. Lastly my screenshot had nothing to do with rent to income ratio,but general prices of goods and services to income ratio.

The general prices of good to income is better than most countries including Kenya as we've seen with the retail prices on their market.

Your screenshot has to do with real estate which are higher in prices here.

rvp2018:
This kind of thinking is what has led Ghana to where it is.
You should have thought about this before raking in billions of external commercial debts.
Nobody is begging you to join IMF. Your economy is in ICU and any further delay means total collapse.
Domestic market - when you want to restructure local debt - who in Ghana will trust Ghana gov with their money?
Join BRICS - Russia is in trouble, south africa is broke, brazil a mess - only China is still standing.

The options you have
1) Cut the budget completely by half or more - eliminate deficit - stop borrowing completely - fire civil servants - downsize - stop all development. Balance the budget asap. Also stop importing lot of unnecessary stuff. Then start repaying debt - negotiate with external debtors - and after 5yrs - you should be good to go.
2) IMF to recommend a milder version of the same while assisting on humaniterian grounds.

Our external debt is only 28 billion dollars which is effectively being paid by Ghanaian companies whose every activity bring massive amount of dollars.
This is why Ghana will not default in it liquidity challenge

You've been saying this for 2 years and your country collapsed withing that time frame and is on IMF debt bed.. I've not seen a country on ICU beds survive this long

Every banking institution is patiently waiting to loan Govt money and receive good returns but that is not the debt market I'm even talking about... I'm talking about Ghana making available all it money that it is investing into foreign markets and collecting peanuts in order to create it own finance market.

All of those countries you mentioned are better off because they've effectively ween themselves off the dollar drag

rvp20182:
How much of that GDP is minerals... like Gabon and Eq Guinea.Your people earn less than a dollar a day...that crazy..in Kenya nobody will work for less than 4-5 dollars a day

mining only 5.5% to GDP .. don't take my words for it..

From Ghana ministry of finance

Now what's your next excuse for why your GDP per Capita is lower than Ghana's?

Domestic workers are earning 6.1 dollars per day in Ghana.. others are earning 8-10 dollars a day as labourers

POKUASI2:
poor like the whole of ghana is littered with rich people.
The same Accra that has over 256 slums in it?
Where are the rich

name 10

POKUASI2:
look at this guy's way of reasoning.
And this mindset is practically the situation in his country and they reason the don't want Nigerians.
What happen to getting value for money?
What happen things prized according to what they're actually worth?
Do you say because you saw 100 cedis in my hand and you want to sell a sachet of pure water worth 0.50 cedis for 100 cedis to me.
This guy talking nonsense here,majority of his people are poor and hungry.
Majority of them earn 450 cedis a which is less than 25 dollars.
Daily Minimum wage is around 13 cedis and he's talking nonsense

I will like to understand how you drew these take out of the comment you replied to.

Help me understand

I have a simple question, do you read the things you reply to?

vaxx:
it is even abnormal to used minimum wage has standard here . Ghana Labour market is highly influence by informal sector . More than 70 percent Ghanaian are in informal sector , more than kenya . Using apple against orange is what I don't get here. Very obtuse . It is just like Nigeria having a larger informal sector and yet with a lower wages .

The india wannabe wonder why you see Murano and wrangler here despite we earn just a dollar per day using 12 cedis as a standard of daily wages. Using GDP per capital has a standard . In 2017 Ghana has a minimum of 4700 why kenya has 3700. In simple terms , the economic rules simply illustrates that it is easy to make money in Ghana than kenya hence the poverty ratio of kenya being higher than Ghana

A barber in Ghana is absolutely doing well
than her counterpart in kenya factoring factoring GDP per capital

that's what Kenyans don't understand

rvp2018:
Nairobi has like endless world class properties people are willing to pay a million dollar for land alone ; that is called the most expensive real estate; Bangui take the prize with Ghana for renting out a shackle or tent for 100 dollars a night together with bedbugs and mosquito - that most expensive city to live in.

You cant find such in Accra or west africa - and that is like half of Nairobi - world class properties from city end to city end.


https://www.youtube.com/watch?v=4XzUa7ME4OE

this is a shack compare to what you'll find in Accra..

You can consult African traveller, and the various Nigerians here for why they all think Accra has beautiful varieties that can't be found in Kenya.

Accra real estate market is more luxurious than Nairobi

Don't take my words for it

https://www.youtube.com/watch?v=LUBZ4Opv4VQ

rvp2018:
Generally, people dont complain about one off cost. I still sit on sofa sets I bought in 2005. I have done two minor repairs. People when they complain about cost of living - it the daily stuff. Major purchases are okay and depend on taste. How many furnitures are you going to have in your lifetime. I still sleep in same bed I slept in 2004. The same dinning table I bought in 2008. Heck in my father house - we still sleep in the same metal bed I found when I was born 40yrs ago - that bed I think was bought in 1978. Nobody complain about such - it mostly taste - its the daily stuff.

you've not made a point

rvp2018:
Yes kenya minimum wage is 3 times Ghana. With inflation 5 or 6 times
https://www.dw.com/en/what-kenyas-minimum-wage-rise-means/a-61745999
For example, under the new wage hike, domestic workers living in one of Kenya's three biggest cities of Nairobi, Mombasa or Kisumu should now be paid a minimum of 15,201 Kenyan shillings ($131 or €124). That's an increase of some $14 a month.

A domestic worker in Ghana is paid 6.1 dollars per day .. That's 158 dollars per month on a 26days work period. this is median salary... The range is 140 to 200 dollars

With the inflation in Kenya where most things cost trice as much as in Ghana... The Ghanaian domestic worker is earning twice as much

http://www.salaryexplorer.com/salary-survey.php?loc=82&loctype=1&job=16&jobtype=1

rvp2018:
You're truly incorrigble.
You're mixing income and property prizes.
How much does your primary teacher earn compared to Kenya - then you can compare the cost of living.
What is minimum wage for example.
All that has been done - dont go to Jumia - and the chart has been pasted there - Ghana when price/income is compared is next to war torn Syria.
When it come to proprety - Accra is CRAP.
What is 70-200K surely surely.
In Nairobi that is crap. I am paying for two units at two rivers mall - for 200K - the date of completion is 2023 dec - and it's serious steal - these are affordable units - and I know UN in Nairobi is due for huge expansion.
Otherwise Nairobi properties are very very expensive.
When it come to property values - YOU DO NOT FEATURE AT ALL.
Nairobi, Joburg, Capetown, London, etc.
When it come to being expensive - you FEATURE with Bangui, Juba, Bujumbura and Luanda.
But nobody want to own a piece of crap in Juba.

So understand the paradox - being expensive to live - doesnt mean the real estate is expensive - it normally means real estate is so absent or inadequate even renting a tent would cost an arm.

It normally the opposite. The most expensive cities to live in are normally war-torn messed cities like Bangui/Accra/Juba/Luandaetc

The most expensive real estates - > Example Knight Frank Real Estate Prime Propety

Overall, Nairobi ranked position 29, two positions ahead of London and one position behind Geneva.

You just like to post nonsense

Meanwhile Ghana has more housing under construction than all of Kenya and also have more housing than Kenya.

Ghana real estate is expensive in comparison to what you'll get in most part of the US when price comparison is done per Normal 3 and 4 bedroom houses that will cost 250,000-300,000 USD is mostly costing 450,000 to 700,000usd in Ghana.

The argument real estate owners make here is that housing in the US is mostly wood base so that comparison is neither here nor there when we build with concrete in Ghana.

Reason why Ghana hasn't officially requested for IMF program
Ghana is assessing all the options available to her.

Ghana has 3 options (Ghana is in the Turkey situation)

1. Either Ghana capitulate to western banking interest(sabotage) in favour of mining interest and their nonsense ESQ policy advise which Ghana has refused to follow for 6 years now that has led to a downgrade of Ghana credit rating.

2. Ghana create it own debt market after building it reserve banking and carry through with the African own credit rating agencies that Ghana started recommending for from the beginning of this year.

3. Join BRICS

popizaino:
The price to income ratio of both countries does not agree with you.

The prices at the shelf says otherwise and the incomes also say otherwise.. That price income ratio is mostly related to real estate where Accra real estate turn to be some of the most expensive you'll find in the world.. if you compare.

I was at Sucasa at East Legon, 2 weeks ago and was shocked that people are paying cash 70,000 dollars 200,000 dollars for off plan properties and waiting 4 months to have their property built according to their liking...
And already their phase 1 and 2 are sold out while their phase 3 at East Legon hills and Ayi Mensah are in development.

GeneralDae:
Over twice the cost in U.S?? Is this true or this guy is just capping? cos no matter how expensive Ghana is, that doesn't look likely.

There are several YouTube videos videos of people choosing not to ship furniture from the US an UK and co because there are better furnitures here at better quality and price.
People are getting custom furniture here with their own wood of choosing and each wood and fabric come with it own price

popizaino:
Yea the irony........i remembered one of them specifically told me on the other thread that i was poor for complaining about how expensive Ghana was only for Hollywood actor to share in my frustration.

His complain is out of place... Why won't Hard wood furniture be more expensive than the Ikea nonsense he's used to?

popizaino:
I don't understand do you or workers in Ghana earn the same as Kenyans ? are the incomes of workers in Ghana the same with that of Kenyans with the same skills cus i don't understand this your it's more expensive in Kenya.

If your price to income ratio is high then your argument is a non-starter. Give up

First of.. Ghanaians earn far higher than Kenyans...

Secondly, we are picking retail prices of basic commodities of a bread basket.

So if I earn huger than you and I'm still buying things practically at lower prices than you, what will you call that?

popizaino:
How come other west African countries find Ghanaians goods astronomically high in spite of the bolded ?

it used to be even higher before ... Now it's a bit okay

vaxx:
A Beer from all The 32 countries participating at the 2022 World Cup in Qatar.

Can You See your Country’s Beer

I saw Ghana beer called club.

club stands tall

obaaderemi:
Their economy is about to get seriously worse. Ruto has no option but to go after expensive loans.

They are getting screwed and they have no idea why ... Their new president is only now waking up to the realities of how bad things are for them and reneging on his promises

gallivant:
What I can't dispute is your selective blindness.

https://www.statista.com/graphic/1/1153674/inflation-rate-food-in-ghana.jpg

where is the blindness in the facts of price ?