₦airaland Forum

The only supermarket culture you had that we didn't have was one selling slaves on such scale never seen before in the entire world.

Now let move to 21st century.

Kenya supermarkets are growing so fasts; it's bound to see a lot of burn out;

Many of kenya supermarkets began as small shops - about 10 or 20yrs ago - and grew so fast; with owners with barely any education.

Many of them refused the injection of new capital - and new leadership - preferring to keep them as family jewel.

So governance - not the economy is the problem - because no single stores that was owned by say Nakumatt or Tuskys is empty - no soon is one down - than it's' replaced.

Now the new players are become better - with injection of capital and new governance.

Now after selling slaves 100yrs ago - in huge supermarkets like ones in Lagos and Accra - tell us why West Africa retail and wholesale is still being 95 percent done in streets and flea markets.

Kenya is moving towards 40 percent - formal retail and wholesaling - and racing quickly to get to South Africa level

obaaderemi:
No, boy. This thread is beyond contemporaneous or current issues, it's about everything- past, present and future. You of all people do not get to set the rules here.
It's about learning, and the curve is wide. I can sense your fear, because Kenya's past is so empty as you have tactically accepted here.

Even if we are talking now, how do you explain Tuskeys crashing down to 5 stores from 60, how do you explain Nakummat dying, how do you explain Uchumi crashing to 3 stores or so?
Your entire retail market is a bubble, and its right NOW crashing around your ears. You should be ashamed of yourself for bringing this up. It's a dead end as usual.

But seriously, didn't you people have supermarket culture 100 years ago like West Africans? Wow, no wonder you are so excited by it NOW.

AfriqueDuZuid:
Open platform if you haven't noticed

Austin theres just some behaviours stuck on you like gorilla glue and no matter how hard you try hiding under new monikers you'll always end up exposing yourself.

Mkenya2019:
[The only supermarket culture you had that we didn't have was one selling slaves on such scale never seen before in the entire world.

Now let move to 21st century.

Kenya supermarkets are growing so fasts; it's bound to see a lot of burn out;

Many of kenya supermarkets began as small shops - about 10 or 20yrs ago - and grew so fast; with owners with barely any education.

Many of them refused the injection of new capital - and new leadership - preferring to keep them as family jewel.

So governance - not the economy is the problem - because no single stores that was owned by say Nakumatt or Tuskys is empty - no soon is one down - than it's' replaced.

Now the new players are become better - with injection of capital and new governance.

Now after selling slaves 100yrs ago - in huge supermarkets like ones in Lagos and Accra - tell us why West Africa retail and wholesale is still being 95 percent done in streets and flea markets.

Ah, I can see you are hurt. You are going back to history. You enjoy losing.

The supermarket culture we had was Accra and Lagos having supermarkets as far back as 1914 and 1922 respectively. I mean supermarkets that could rival the ones in some European cities. I showed you evidence, just like I showed you evidence of 15th century African clothes weaving. You never showed evidence that your people did anything significant until modern times. How stvpid, lazy and uncreative could your ancestors be?

Back to the present, supermarkets are dying in Kenya and not the other way round as you claim. I have asked you to explain Tuskeys death, Nakumatt's death, Uchumi's death. You can't.

We can borrow more because we can repay. Nigeria is functionally bankrupt. Debt repayment already passed 100% of revenues. Youre now borrowing to pay salaries and recurrent expenditure.

We are borrowing to build infrastructure. Of the 7-8B Chinese loan - 5B went to a railway - that will be in existence for 100yrs plus. That Chinese loan will be repaid in 25-50yrs. Smart investment.

We will borrow more to invest in infrastructure and the future. You will borrow more to pay salaries, pensions and recurrent expenditure - you're mortgaging your future.

obaaderemi:
No, son. It's why you owe China so much.

Again let even assume for argument sake you had such a glorious history, then what happened?
Why is that you present situation is so dire?
Let keep it formal retail for example - how do you hope to raise taxes - when everything is done in black informal market
How can 400B dollar overcooked economy not have say 3,000 supermarkets?

obaaderemi:
Ah, I can see you are hurt. You are going back to history. You enjoy losing.

The supermarket culture we had was Accra and Lagos having supermarkets as far back as 1914 and 1922 respectively. I mean supermarkets that could rival the ones in some European cities. I showed you evidence, just like I showed you evidence of 15th century African clothes weaving. You never showed evidence that your people did anything significant until modern times. How stvpid, lazy and uncreative could your ancestors be?

Back to the present, supermarkets are dying in Kenya and not the other way round as you claim. I have asked you to explain Tuskeys death, Nakumatt's death, Uchumi's death. You can't.

Mkenya2019:
We can borrow more because we can repay. Nigeria is functionally bankrupt. Debt repayment already passed 100% of revenues. Youre now borrowing to pay salaries and recurrent expenditure.

We are borrowing to build infrastructure. Of the 7-8B Chinese loan - 5B went to a railway - that will be in existence for 100yrs plus. That Chinese loan will be repaid in 25-50yrs. Smart investment.

We will borrow more to invest in infrastructure and the future. You will borrow more to pay salaries, pensions and recurrent expenditure - you're mortgaging your future.

Why are you always tickled by things that are so commonplace? Railway? Please. We've got a shiny new railway too, even Tanzania has got one and they're not screaming about it. What's wrong with you? You borrowed against your future to build a railway that's losing money. How are you going to pay back?
At least Nigeria is paying its debt, you can't pay yours. You are begging your creditors left and right to reschedule your debt. That's a sign of foolishness and bad times. This report is from July:

China has frozen disbursements of active loans
to Kenyan projects in the wake of differences
over Nairobi's bid to extend debt repayment
holiday to December.
Chinese-funded projects are facing a cash
crunch, with contractors reporting delayed
payments from banks like Exim Bank of China.
Executives at State-owned firms say the projects
risk delays due to the funding hitch.
Sources familiar with the delay say the Chinese
lenders, especially Exim Bank, are uncomfortable
with the terms of the Kenyan request for
extension of the debt service suspension beyond
June.

Kenya is broke. Very soon we will have a Live Aid Band for you people.

Mkenya2019:
Again let even assume for argument sake you had such a glorious history, then what happened?
Why is that you present situation is so dire?
Let keep it formal retail for example - how do you hope to raise taxes - when everything is done in black informal market
How can 400B dollar overcooked economy not have say 3,000 supermarkets?

What's dire about the present situation. Retailing in Nigeria is bigger than in Kenya. There are many supermarkets here with less than 10 stores and a few bigger ones. The Nigerian retail business revolves around small clean stores. For example, in my neighborhood alone I've got Foodco, Feedwell, Vanguard and Grandex, all within a mile radius. So why do I need to go 5km to visit the local Shoprite at Dugbe or the one at RingRoad? The backbone of the Nigerian economy is the array of small businesses.
You can see that while occupancy rates for retail market is dropping in Kenya, in Nigeria it is going up. See attached chart:

Equity Bank takes over DRC Banking

https://www.youtube.com/watch?v=i9SeYcvbJmg

obaaderemi:
What's dire about the present situation. Retailing in Nigeria is bigger than in Kenya. There are many supermarkets here with less than 10 stores and a few bigger ones. The Nigerian retail business revolves around small clean stores. For example, in my neighborhood alone I've got Foodco, Feedwell, Vanguard and Grandex, all within a mile radius. So why do I need to go 5km to visit the local Shoprite at Dugbe or the one at RingRoad? The backbone of the Nigerian economy is the array of small businesses.
You can see that while occupancy rates for retail market is dropping in Kenya, in Nigeria it is going up. See attached chart:

Lol

Mkenya2019:
Equity Bank takes over DRC Banking

https://www.youtube.com/watch?v=i9SeYcvbJmg

Keep taking over shiitholes like Kenya- pathetic victory.

Please don't talk debt and Nigeria. Your country is BROKE.

Your debt servicing ratio is 100% plus. Kenya is mere 35 percent.

As for kenya - we got six month moratorium - and we wanted more - because China caused covid.
We have never defaulted in paying our debts since 1963 - and we are not about to start.

https://www.bloomberg.com/news/articles/2021-07-31/kenya-resumes-china-debt-repayment-with-761-million-remittance

obaaderemi:
Why are you always tickled by things that are so commonplace? Railway? Please. We've got a shiny new railway too, even Tanzania has got one and they're not screaming about it. What's wrong with you? You borrowed against your future to build a railway that's losing money. How are you going to pay back?
At least Nigeria is paying its debt, you can't pay yours. You are begging your creditors left and right to reschedule your debt. That's a sign of foolishness and bad times. This report is from July:

Kenya is broke. Very soon we will have a Live Aid Band for you people.

obaaderemi:
Why are you always tickled by things that are so commonplace? Railway? Please. We've got a shiny new railway too, even Tanzania has got one and they're not screaming about it. What's wrong with you? You borrowed against your future to build a railway that's losing money. How are you going to pay back?
At least Nigeria is paying its debt, you can't pay yours. You are begging your creditors left and right to reschedule your debt. That's a sign of foolishness and bad times. This report is from July:

Kenya is broke. Very soon we will have a Live Aid Band for you people.

Lol

Your anecdotal evidence is not worth a warm bucket of spit. Save it.
Let see what the total mall space of Lagos is - compared to say Nairobi.
Obviously, if your market is undeveloped; you can expect high mall occupancy;
If like Nairobi malls are sprouting everywhere; that extra supply would have slightly overrun with demand; as new malls take some time to fill up.
So 84 percent of what?
And 80 percent of what.

The penetration of formal retail in Kenya is 30% while that of South Africa stands at 60% - Nigeria is not even at 10 percent.

obaaderemi:
What's dire about the present situation. Retailing in Nigeria is bigger than in Kenya. There are many supermarkets here with less than 10 stores and a few bigger ones. The Nigerian retail business revolves around small clean stores. For example, in my neighborhood alone I've got Foodco, Feedwell, Vanguard and Grandex, all within a mile radius. So why do I need to go 5km to visit the local Shoprite at Dugbe or the one at RingRoad? The backbone of the Nigerian economy is the array of small businesses.
You can see that while occupancy rates for retail market is dropping in Kenya, in Nigeria it is going up. See attached chart:

For the Azanias - who think Kenya will not overtake them - Bangladesh's economy has grown from 100B to 300B in 10yrs. They have done this by growing 7 percent annually.

It did this through growing it's textile industry and remittance


https://www.youtube.com/watch?v=c1BNJOLcYBQ

Mkenya2019:
Your anecdotal evidence is not worth a warm bucket of spit. Save it.
Let see what the total mall space of Lagos is - compared to say Nairobi.
Obviously, if your market is undeveloped; you can expect high mall occupancy;
If like Nairobi malls are sprouting everywhere; that extra supply would have slightly overrun with demand; as new malls take some time to fill up.
So 84 percent of what?
And 80 percent of what.

The penetration of formal retail in Kenya is 30% while that of South Africa stands at 60% - Nigeria is not even at 10 percent.

Lol shut it.that’s shows ur retail sector is a bubble. Wonder no more why ur supermarket keeps crashing like planes- what u have is empty retail spaces begging to be occupied (wasted investment). In other words ur formal retail sector is dwindling-maybe it is down to 25% by now. Fix that

Mkenya2019:
For the Azanias - who think Kenya will not overtake them - Bangladesh's economy has grown from 100B to 300B in 10yrs. They have done this by growing 7 percent annually

https://www.youtube.com/watch?v=c1BNJOLcYBQ

Bangladesh looks like crap to anything in SA. U can’t compare this rubbish to joburg or Capetown or even sandton- u will have to be blind to think otherwise.

Mkenya2019:
Your anecdotal evidence is not worth a warm bucket of spit. Save it.
Let see what the total mall space of Lagos is - compared to say Nairobi.
Obviously, if your market is undeveloped; you can expect high mall occupancy;
If like Nairobi malls are sprouting everywhere; that extra supply would have slightly overrun with demand; as new malls take some time to fill up.
So 84 percent of what?
And 80 percent of what.

The penetration of formal retail in Kenya is 30% while that of South Africa stands at 60% - Nigeria is not even at 10 percent.

Nonsense...total mall space is irrelevant when it is empty-it’s doesn’t boost ur formal retail sector- your retail sector alongside real estate as a whole is in a bubble-there is a serious glut.

If you had some self-introspection and self-respect you'd have long realized that some of these things are WAY beyond your paygrade.

We will need your input when we do the picture and video contest...where you can tax your eyes otherwise please spare your punny brain.

Vlain:
Bangladesh looks like crap to anything in SA. U can’t compare this rubbish to joburg or Capetian or e en sandton- u will have to be blind to think otherwise.

Formal retail sector in Africa is as follows (based of countries on this thread.

SA>Nigeria >Kenya

OCCUPANCY is the key word. Nigeria and miseducation.

Vlain:
Formal retail sector in Africa is as follows (based of countries on this thread.

SA>Nigeria >Kenya

Mkenya2019:
If you had some self-introspection and self-respect you'd have long realized that some of these things are WAY beyond your paygrade.

We will need your input when we do the picture and video contest...where you can tax your eyes otherwise please spare your punny brain.

Tears of the defeated.cry me a river.

Mkenya2019:
OCCUPANCY is the key word. Nigeria and miseducation.

Illiterate!!! How can u claim a more superior formal retail economy when half ur retail spaces are empty and investors are struggling to make a dime over their wasted derelict investment.

Again it's 80 percent with an ever increasing supply of new malls. Compared to Lagos 84 percent - that sees a mall every 5 yrs.

Vlain:
Illiterate!!! How can u claim a more superior formal retail economy when half ur retail spaces are empty and investors are struggling to make a dime over their wasted derelict investment.

Mkenya2019:
Again it's 80 percent with constant demand with new malls. Compared to Lagos 84 percent - that sees a mall every 5 yrs.

U mean constant demand of empty mall-notice how investors have become smart-they have seen how meagre ur disposable income has become,and carefully watched it’s dwindling sporadically down the chart-they are fully aware of the scam uhuru cooked up years back with mwangi concerning Kenya economic stat. Lol they ran with their money into Kenya thinking they would make a fortune-fast forward to today,they are struggling to make a dollar-notice how the total mall under construction in Kenya is not more than 2- after the one in vipingo estate and that one in eastland ,nothing again is going on.I drove around Ikotun-VI-lekki-Axis yesterday and I discovered up to five malls under construction-and we haven’t even included this ongoing ones in Abuja,kaduna and the rest of the country-

Just last year(post COVID) Abuja alone completed two malls,and supermarket keeps popping up here like chicks.

Formal retail giants in Africa based of this thread.

SA>Nigeria >KENYA.

You're arguing with your own data showing 80 percent occupancy.
More anecdotal evidence from someone bereft of any iota of credibility is really a waste of our time

Vlain:
U mean constant demand of empty mall-notice how investors have become smart-they have seen how meagre ur disposable income has become,and carefully watched it’s dwindling sporadically down the chart-they are fully aware of the scam uhuru cooked up years back with mwangi concerning Kenya economic stat. Lol they ran with their money into Kenya thinking they would make a fortune-fast forward to today,they are struggling to make a dollar-notice how the total mall under construction in Kenya is not more than 2- after the one in vipingo estate and that one in eastland ,nothing again is going on.I drove around Ikotun-VI-lekki-Axis yesterday and I discovered up to five malls under construction-and we haven’t even included this ongoing ones in Abuja,kaduna and the rest of the country-

Just last year(post COVID) Abuja alone completed two malls,and supermarket keeps popping up here like chicks.

Mkenya2019:
You're arguing with your own data showing 80 percent occupancy.
More anecdotal evidence from someone bereft of any iota credibility is really a waste of our time

80% of occupancy vs 84% occupancy- u have a glut- ur economy isn’t matured to support ur retail sector. What u have occupying those spaces is cobwebs and insect-it’s derelict and laying to waste-no occupancy means dwindling formal retail sector- u are back to the market or Mombasa cbd shopping for onions and tomatoes

Bla bla bla is how you sound if you don't have ability to pick social cues

Vlain:
80% of occupancy vs 84% occupancy- u have a glut- ur economy isn’t matured to support ur retail sector. What u have occupying those spaces is cobwebs and insect-it’s derelict and laying to waste-no occupancy means dwindling formal retail sector- u are back to the market or Mombasa cbd shopping for onions and tomatoes

Mkenya2019:
Bla bla bla is how you sound if you don't have ability to pick social cues

How u sound when u are mentally ret@rded.

Mkenya2019:
Again it's 80 percent with an ever increasing supply of new malls. Compared to Lagos 84 percent - that sees a mall every 5 yrs.

this man no just get sense..... ahn ahn, e too get coconut head, e no dey gree.

Kaduna kiddo. This is 2016 data from Knight Frank - Nairobi had twice the mall space of Lagos. By now it's probably 4-5 times.

Outside of South Africa, the Kenyan
capital Nairobi has the greatest volume
of modern retail floor space in SubSaharan Africa , and it continues to be a
development hotspot.

theenchanter:
this man no just get sense..... ahn ahn, e too get coconut head, e no dey gree.

This 2015 - it not even close - Lagos DOES NOT have Kampala size of malls.