₦airaland Forum

So definitely Nigeria is the second formal retailing king in Africa,just behind SA- lol rvp give up-I know u are shocked to see Kenya go down- I remember talking about ur crumbling formal retailing last year-now see where u are.

Bla de bla of a bleating goat. Your formal retail is behind Uganda.

Vlain:
So definitely Nigeria is the second formal retailing king in Africa,just behind SA- lol rvp give up-I know u are shocked to see Kenya go down- I remember talking about ur crumbling formal retailing last year-now see where u are.

You have done both...like Zambia taken in huge eurobond...and taken in collateralized china loans where your farmers cocoa proceeds are banked in china escrow account..and now your minerals.

Kenya has been very careful on eurobonds...and we have never taken a collaterlized china loan. Show me an escrow account opened by Kenya with Chinese.

The worse we ever did is to sign take or pay btw two kenya parastals - Kenya Ports and Kenya Railways - as condition of a 5b dollars loan.

Meanwhile Ghana long mortagaged their cocoa and minerals. And taken in huge Eurobond at crazy interest rates. You will certainly default again and again like your bossom friends Zambia

Just30:
Too bad, your country Kenya has a higher Eurobond repayment per year than Ghana.....

Real loans are sold on the Eurobond market, if you are looking to collateralized your country, you go to China

https://www.lindaikejisblog.com/2021/8/10-year-old-girl-who-was-repeatedly-raped-by-her-aunts-husband-for-three-years-has-died.html

https://www.nairaland.com/6680667/10-year-old-kenyan-girl-raped-aunts

Kenyans are really pedophiles
Rvp20182
Vlain
Just30
mkenya2019 obiano13

Random peopdhiles when in Nigeria thousands of girls are being kidnapped and taken as slave sex.

FOCUS ON mass kidnapping of Nigerian schoolchildren

This month alone

Student wares lie on a bed after 140 boarding students of Bethel Baptist School were kidnapped by gunmen in Kaduna, northwestern Nigeria

my farmers are paid directly for their cocoa, when it is purchased

Kenya has a huge Eurobond debt hence its huge repayment yearly, which is larger than that of Ghana..

Kenya is in debt distress hence why it quickly jump unto the debt repayment freeze that Ghana negotiated for your poor country...

Ghana has never ever mortgage cocoa

rvp20182:
You have done both...like Zambia taken in huge eurobond...and taken in collateralized china loans where your farmers cocoa proceeds are banked in china escrow account..and now your minerals.

Kenya has been very careful on eurobonds...and we have never taken a collaterlized china loan. Show me an escrow account opened by Kenya with Chinese.

The worse we ever did is to sign take or pay btw two kenya parastals - Kenya Ports and Kenya Railways - as condition of a 5b dollars loan.

Meanwhile Ghana long mortagaged their cocoa and minerals. And taken in huge Eurobond at crazy interest rates. You will certainly default again and again like your bossom friends Zambia

Your country kenya is broke and begging everywhere for debt freeze

even zambia wont do that

1) No. Cocoa farmers are FORCED to sell their cocoa to gov, who has used it to borrow loan from China. All cocoa go through Ghana Cocoa Board (COCOBOD)

>The Chinese proposed to accept Ghana paying back the loans in cocoa beans
> Recently you have also mortgaged your bauxite/aluminum to the same chinas. Who does that?

2) You have borrowed 13B in Eurobond...and you intend to borrow 5B this year. It's crazy. If you consider the interest rate you're paying and the exogenous risk from ever declining cedis against USD.

3) You run away from debt relief because of the fear it would knock off your credit rating - leading to high interest in Eurobond.

I can predict you will be bankrupt soon. Zambia is just like Ghana. Not just now but almost historical. They are twins in macroeconomics. The MOST MISMANAGED COUNTRIES in Africa when public finances are considered.

I really doubt if Ghana and Zambia have economists in their public finance sector - what they do has always been hilariously crazy.

Look at the graph below - you have taken almost 20 percent of GDP in Eurobond where interest is nearly 10 percent and is paid in HARD currency. At least Nigeria takes a lot of domestic debt - and they can print naira (QE) and pay it off.

Who does that? . Sober countries who understand prudent public finance management take in Low or Zero-interest loans with long maturity if they are external - from WB/IMF/ADB/France Banks/Japanese Banks/Chinese Banks/US Exim Banks - and rarely gorge themselves on the "free" Eurobond with flexible high-interest rate and short maturity and huge forex risk. Otherwise, the majority develop a good domestic market because gov if worse comes - can simply print the money and pay the internal creditors - aka nationalize the debt

Just30:
my farmers are paid directly for their cocoa, when it is purchased

Kenya has a huge Eurobond debt hence its huge repayment yearly, which is larger than that of Ghana..

Kenya is in debt distress hence why it quickly jump unto the debt repayment freeze that Ghana negotiated for your poor country...

Ghana has never ever mortgage cocoa

Your country kenya is broke and begging everywhere for debt freeze

even zambia wont do that

Ghana is just crazy - Farmers cocoa has been used to secure 25B dollars of loan. This CAN NEVER happen in Kenya. What kind of democracy is Ghana running?

Cocobod has a monopoly, through its subsidiary Cocoa Marketing Company, over the marketing of Ghanaian cocoa beans.

Cocobod, via its marketing company, obtains cheap US dollar loans on international markets, using cocoa contracts as collateral. With few exceptions, only contracts with multinational buyers qualify as collateral since domestic buyers tend to have poor credit ratings and small balance sheets. In this way, Cocobod has secured nearly US$25 billion over the past 28 years. The Bank of Ghana needs these US dollars to maintain a foreign reserve and stabilise local currency.


It makes for a sad read. 150B dollar chocolate industry - Ghana gets 2B only - from close to a million farmers

https://theconversation.com/why-ghana-doesnt-get-the-full-value-of-its-cocoa-beans-and-how-this-could-change-158773

Ghana's 25 billion dollars was secured using Ghana aluminium sales to China

Ghana is not dumped like Despotic Kenya which has been sold completely to China

Mkenya2019:
Ghana is just crazy - Farmers cocoa has been used to secure 25B dollars of loan. This CAN NEVER happen in Kenya. What kind of democracy is Ghana running?

Cocobod has a monopoly, through its subsidiary Cocoa Marketing Company, over the marketing of Ghanaian cocoa beans.

Cocobod, via its marketing company, obtains cheap US dollar loans on international markets, using cocoa contracts as collateral. With few exceptions, only contracts with multinational buyers qualify as collateral since domestic buyers tend to have poor credit ratings and small balance sheets. In this way, Cocobod has secured nearly US$25 billion over the past 28 years. The Bank of Ghana needs these US dollars to maintain a foreign reserve and stabilise local currency.


It makes for a sad read. 150B dollar chocolate industry - Ghana gets 2B only - from close to a million farmers

https://theconversation.com/why-ghana-doesnt-get-the-full-value-of-its-cocoa-beans-and-how-this-could-change-158773

Mkenya2019:
This is Covid-19 et force majeure. In a normal year, we won't have asked for debt rescheduling. We have rarely asked for such kind of facility the last 60yrs of independence.

Force majeure is a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, epidemic or sudden legal changes prevents one or both parties from fulfilling their obligations under the contract. Explicitly excluded is any event described as an act of God, which covers a separate domain and legally differs, yet it is still related to contract law. In practice, most force majeure clauses do not excuse a party's non-performance entirely but only suspend it for the duration of the force majeure.[1]

Well, we are not the ones begging everyone for debt rescheduling, that's Kenya.
See, the problem with Kenya is that its debt is mainly foreign, external loans.
Nigeria's external debt is just about 35%. Most of our debt is domestic.
But how can Kenya raise loans domestically when the economy is so small at $60- 80bn?

Be more recent



Kenya repayment is higher than that of Ghana and it is part of the reason why Kenya have asked for it Eurobonds repayments to be deferred

In case you dont know, while all of you poor countries bankrupted already, have been begging for debt deferment, Ghana has not asked for any because we have enough money to repay all of our debt.......

Mkenya2019:
1) No. Cocoa farmers are FORCED to sell their cocoa to gov, who has used it to borrow loan from China. All cocoa go through Ghana Cocoa Board (COCOBOD)

>The Chinese proposed to accept Ghana paying back the loans in cocoa beans
> Recently you have also mortgaged your bauxite/aluminum to the same chinas. Who does that?

2) You have borrowed 13B in Eurobond...and you intend to borrow 5B this year. It's crazy. If you consider the interest rate you're paying and the exogenous risk from ever declining cedis against USD.

3) You run away from debt relief because of the fear it would knock off your credit rating - leading to high interest in Eurobond.

I can predict you will be bankrupt soon. Zambia is just like Ghana. Not just now but almost historical. They are twins in macroeconomics. The MOST MISMANAGED COUNTRIES in Africa when public finances are considered.

I really doubt if Ghana and Zambia have economists in their public finance sector - what they do has always been hilariously crazy.

Look at the graph below - you have taken almost 20 percent of GDP in Eurobond where interest is nearly 10 percent and is paid in HARD currency. At least Nigeria takes a lot of domestic debt - and they can print naira (QE) and pay it off.

Who does that? . Sober countries who understand prudent public finance management take in Low or Zero-interest loans with long maturity if they are external - from WB/IMF/ADB/France Banks/Japanese Banks/Chinese Banks/US Exim Banks - and rarely gorge themselves on the "free" Eurobond with flexible high-interest rate and short maturity and huge forex risk. Otherwise, the majority develop a good domestic market because gov if worse comes - can simply print the money and pay the internal creditors - aka nationalize the debt

Kenya is like Zambia, begging for it 1 billion dollars Eurobond repayment this year to be deferred.....

How poor can your bankrupt country be?

You guys should be thankful to Ghana for negotiating debt deferment for your poor ass


The problem with your country right now is, it does not have enough USD flow from tea and tourism so it is technically bankrupt from years of excessive borrowing which is leading to excessive outflows.....


I told you guys this in 2019, that, should any external crisis occur, your country will be found wanting

Still talking RUBBISH? china is planning to seize the Mobassa port and you are here talking nonsense? kenya is finished Starvation, joblessness, stvpidity, corruption, slums oh dear oh dear Fuckeduppedness

Unlike countries like Ghana, Kenya has nothing to offer China Only fooolish mudder fuggarz

[s]

Mkenya2019:
Ghana is just crazy - Farmers cocoa has been used to secure 25B dollars of loan. This CAN NEVER happen in Kenya. What kind of democracy is Ghana running?

Cocobod has a monopoly, through its subsidiary Cocoa Marketing Company, over the marketing of Ghanaian cocoa beans.

Cocobod, via its marketing company, obtains cheap US dollar loans on international markets, using cocoa contracts as collateral. With few exceptions, only contracts with multinational buyers qualify as collateral since domestic buyers tend to have poor credit ratings and small balance sheets. In this way, Cocobod has secured nearly US$25 billion over the past 28 years. The Bank of Ghana needs these US dollars to maintain a foreign reserve and stabilise local currency.


It makes for a sad read. 150B dollar chocolate industry - Ghana gets 2B only - from close to a million farmers

https://theconversation.com/why-ghana-doesnt-get-the-full-value-of-its-cocoa-beans-and-how-this-could-change-158773

[/s]

Vlain:
So definitely Nigeria is the second formal retailing king in Africa,just behind SA- lol rvp give up-I know u are shocked to see Kenya go down- I remember talking about ur crumbling formal retailing last year-now see where u are.

In less than a year Kenya has lost a lot in its retail market.
The retail space is largely empty. Uchumi is dead, Tuskeys is dead, Ukwala is dead, Shoprite left.

The problem is the economy. Before Uhuru took over in 2013, Kenya was largely a backwater with no infrastructure. Just a huge kibera with a few oases of nice places for white and Asian Kenyans.

Uhuru took over and felt he needed to compete with Western and southern Africa. So he started borrowing like a drunken man. You might see a few shiny buildings and roads in Kenya, it's all bubble and the bubble is bursting seriously now. That's why companies are closing down. There's nothing in the economy to support the growth. It's all debt debt debt. And now tourism and tea are down. Kenya is down.

obaaderemi:
In less than a year Kenya has lost a lot in its retail market.
The retail space is largely empty. Uchumi is dead, Tuskeys is dead, Ukwala is dead, Shoprite left.

The problem is the economy. Before Uhuru took over in 2013, Kenya was largely a backwater with no infrastructure. Just a huge kibera with a few oases of nice places for white and Asian Kenyans.

Uhuru took over and felt he needed to compete with Western and southern Africa. So he started borrowing like a drunken man. You might see a few shiny buildings and roads in Kenya, it's all bubble and the bubble is bursting seriously now. That's why companies are closing down. There's nothing in the economy to support the growth. It's all debt debt debt. And now tourism and tea are down. Kenya is down.

They have no idea how to run their country

see how they are begging all around

Who in his right sense will go and borrow from France?


their country is in serious trouble

Kenya collects more taxes than Nigeria - and we have less debt than Nigeria. Our debt mix is 50-50 - and most of the external debts - are from development banks on concessionary terms.

We only took advantage like everyone else on COVID-19 debt relief.

Otherwise we have never defaulted and will not start now.

Kenya GDP is probably 120B.

obaaderemi:
Well, we are not the ones begging everyone for debt rescheduling, that's Kenya.
See, the problem with Kenya is that its debt is mainly foreign, external loans.
Nigeria's external debt is just about 35%. Most of our debt is domestic.
But how can Kenya raise loans domestically when the economy is so small at $60- 80bn?

Which mall in Kenya is empty? Nakumatt had 65 stores and Tuskys the same - And they were all replaced by Naivas 76, Carrefour now approaching 20, QuickMart (45), and such.

Kenya's formal retail spaces are most likely 4-5 times bigger than Nigeria.

No - Kenya took a turn for the better in 2003/2004 - with exist of dictator Moi.

In 2003 - Kenya's GDP was 12B. It has risen almost 10 times in less than 20yrs.

If we hit 7 percent this decade - then by 2030 - our GDP will be 350B - we will be a middle class country at level of South Africa

obaaderemi:
In less than a year Kenya has lost a lot in its retail market.
The retail space is largely empty. Uchumi is dead, Tuskeys is dead, Ukwala is dead, Shoprite left.

The problem is the economy. Before Uhuru took over in 2013, Kenya was largely a backwater with no infrastructure. Just a huge kibera with a few oases of nice places for white and Asian Kenyans.

Uhuru took over and felt he needed to compete with Western and southern Africa. So he started borrowing like a drunken man. You might see a few shiny buildings and roads in Kenya, it's all bubble and the bubble is bursting seriously now. That's why companies are closing down. There's nothing in the economy to support the growth. It's all debt debt debt. And now tourism and tea are down. Kenya is down.

Why would china seize Mombasa port? The take or pay - is btw Kenya Railways and Kenya Port Authority. The deal was simple - Kenya Ports just guarantee 1m of cargo to Kenya Railways - and Kenya Ports is doing more than that.

KPA handles 40m metric tonnes - so 1m tonnes is not even 2 percent

The china loan we took was NEVER collatoraized.

Torture2020:
Still talking RUBBISH? china is planning to seize the Mobassa port and you are here talking nonsense? kenya is finished Starvation, joblessness, stvpidity, corruption, slums oh dear oh dear Fuckeduppedness

Unlike countries like Ghana, Kenya has nothing to offer China Only fooolish mudder fuggarz

[s][/s]

Mad cow. As usual lying. In fact if we check 2021 figures - I am sure you have reach 20B of Eurobond if not more.

The external debt also went up by $3.5 billion (¢20.3 billion) to $28.1 billion. This is approximately 37.2% of GDP.


The World Bank had also consistently warned that the country was not far from being classified as a Highly Debt Distress Country. This follows the rising debt and high interest payments.

Its sentiment was also shared by ratings agencies Moody’s and Fitch.

Per IMF estimation, Ghana’s debt to GDP ratio will surge to 83.2% in 2022, and then further to 84.8%, 86.0% and 86.6% in 2023, 2024 and 2025 respectively. It will however drop slightly to 85.5% in 2026.

Just30:
Be more recent



Kenya repayment is higher than that of Ghana and it is part of the reason why Kenya have asked for it Eurobonds repayments to be deferred

In case you dont know, while all of you poor countries bankrupted already, have been begging for debt deferment, Ghana has not asked for any because we have enough money to repay all of our debt.......

Kenya is like Zambia, begging for it 1 billion dollars Eurobond repayment this year to be deferred.....

How poor can your bankrupt country be?

You guys should be thankful to Ghana for negotiating debt deferment for your poor ass


The problem with your country right now is, it does not have enough USD flow from tea and tourism so it is technically bankrupt from years of excessive borrowing which is leading to excessive outflows.....


I told you guys this in 2019, that, should any external crisis occur, your country will be found wanting

Lunatic

which one is the lies?

Ghana is not the one that has been on a borrowing spree for the last 3 years

Kenya's entire almost 90 billion debt is denominated in foreign currency and has to be repaid of hard currency....
Kenya export does not generate enough hard currency and tourism has been on hold for almost 2 years now.... That is why your country is struggling and begging all around

Debt to gdp ratio means nothing to Ghana as long as we can repay all our debt and that is why we have not asked for debt repayment deferment...... We have prudent debt management

Kenya cant repay it debt hence it desperate situation

Mkenya2019:
Mad cow. As usual lying. In fact if we check 2021 figures - I am sure you have reach 20B of Eurobond if not more.

The external debt also went up by $3.5 billion (¢20.3 billion) to $28.1 billion. This is approximately 37.2% of GDP.


The World Bank had also consistently warned that the country was not far from being classified as a Highly Debt Distress Country. This follows the rising debt and high interest payments.

Its sentiment was also shared by ratings agencies Moody’s and Fitch.

Per IMF estimation, Ghana’s debt to GDP ratio will surge to 83.2% in 2022, and then further to 84.8%, 86.0% and 86.6% in 2023, 2024 and 2025 respectively. It will however drop slightly to 85.5% in 2026.

Just30:
They have no idea how to run their country

see how they are begging all around

Who in his right sense will go and borrow from France?


their country is in serious trouble

Even Nigeria runs away from them.
But then a drowning man, just like Kenya, can borrow from anyone, even the devil.

BLESSING OBORUDUDU IN FINAL OF 68KG FREESTYLE WRESTLING
At least Nigeria is sure of either a gold medal or silver medal now.

There is no devil on Earth-like France, even the Americans dont like their backstabbing ass....


But when you are desperate, you will go and borrow from even the poor devil

obaaderemi:
Even Nigeria runs away from them.
But then a drowning man, just like Kenya, can borrow from anyone, even the devil.

Just30:
Lunatic

which one is the lies?

Ghana is not the one that has been on a borrowing spree for the last 3 years

Kenya's entire almost 90 billion debt is denominated in foreign currency and has to be repaid of hard currency...
Kenya export does not generate enough hard currency and tourism has been on hold for almost 2 years now.... That is why your country is struggling and begging all around

Debt to gdp ratio means nothing to Ghana as long as we can repay all our debt and that is why we have not asked for debt repayment deferment...... We have prudent debt management

Kenya cant repay it debt hence it desperate situation

Thank you @bolded.
That's the reason why Kenya's situation is very dire. In fact worse than any other African country whose citizens are on this thread.

I wonder why the rvp guy can't see that Kenya is royally fvcked, especially with tourism and tea prices going down for five years in a row. He is just arguing blindly.

Actually AFD is one of the best banks to borrow from. They have finance many kenya projects including Nairobi Dam - and soon France are financing 200Km expressway from Nairobi to Mau Summit - past Nakuru.


What matters I keep saying is not the color of the cat - but whether it catches the mice.

AFD offers low zero interest loans https://www.afd.fr/en

Kenya is not becoming French colony when it borrows from France Dev Bank - we are not certainly going to surrender say printing of kshs to France like stupid francophone countries (although see how likes of Ghana and Zambia have messed - Britain would have better run stuff)


https://www.youtube.com/watch?v=rLOu3M6FvsM

obaaderemi:
Even Nigeria runs away from them.
But then a drowning man, just like Kenya, can borrow from anyone, even the devil.

obaaderemi:
Thank you @bolded.
That's the reason why Kenya's situation is very dire. In fact worse than any other African country whose citizens are on this thread.

I wonder why the rvp guy can't see that Kenya is royally fvcked, especially with tourism and tea prices going down for five years in a row. He is just arguing blindly.

They dont understand economics

You have degenerated into Just30 madness level. You're literally scraping the bottom of the barrel now...and yet Nigeria export 2 million barrels of Oil . Why would you denigrate into such a desperate level - Nigeria has really let you down.

Kenya debt to gdp/servicing to gdp/credit rating - is better than Ghana and Nigeria.

Kenya total debt is approaching 70B - and half of it external (35b)

obaaderemi:
Thank you @bolded.
That's the reason why Kenya's situation is very dire. In fact worse than any other African country whose citizens are on this thread.

I wonder why the rvp guy can't see that Kenya is royally fvcked, especially with tourism and tea prices going down for five years in a row. He is just arguing blindly.

Obiano13:
gotta whack my 21 y/o husband son.

Obiano13:
st*pid giggle

Eleribu ipob pig, A Nigerian is in the final of the women wrestling. She's coming home with a medal. You will die of hatred for Nigeria.

Usual diarhoea. Kenya external debt is 35B dollars. Only small part of it is commercial. The rest of that 35B is mostly zero low interest long maturing loan.

Ghana this year alone - Eurobond (commercial external debt) - will probably go beyond 30 percent of your GDP.

GDP to Debt is already 85 percent...while kenya is btw 65-70 - before rebasing this year.

Few years ago you DESPERATELY rebased your GDP - as it was already past 100. Look like you need to cook it again soon.,

Just30:
Lunatic

which one is the lies?

Ghana is not the one that has been on a borrowing spree for the last 3 years

Kenya's entire almost 90 billion debt is denominated in foreign currency and has to be repaid of hard currency....
Kenya export does not generate enough hard currency and tourism has been on hold for almost 2 years now.... That is why your country is struggling and begging all around

Debt to gdp ratio means nothing to Ghana as long as we can repay all our debt and that is why we have not asked for debt repayment deferment...... We have prudent debt management

Kenya cant repay it debt hence it desperate situation

Mkenya2019:
You have degenerated into Just30 madness level. You're literally scraping the bottom of the barrel now...and yet Nigeria export 2 million barrels of Oil . Why would you denigrate into such a desperate level - Nigeria has really let you down.

Kenya debt to gdp/servicing to gdp/credit rating - is better than Ghana and Nigeria.

Kenya total debt is approaching 70B - and half of it external (35b)

Now you are throwing tantrums ......Lunatic

If you believe all that you just typed, Why is your country busy looking for debt repayment freeze?

Healthy economies dont run begging for debt relieve

We rebase our economy based on sound economics unlike kenya that pseudo economics and bundle up figures for rebasing which is not transformational because poverty keeps increasing and unemployment keep getting worse

kenya is damn fvcking broke what has kenya got t give china in return for your runaway debts apart from tea? oh dear oh dear not only mobassa port. Indeed china will soon take over kenya and turn mudder furgerz like you into farm labourers

[s]

Mkenya2019:
Why would china seize Mombasa port? The take or pay - is btw Kenya Railways and Kenya Port Authority. The deal was simple - Kenya Ports just guarantee 1m of cargo to Kenya Railways - and Kenya Ports is doing more than that.

KPA handles 40m metric tonnes - so 1m tonnes is not even 2 percent

The china loan we took was NEVER collatoraized.

[/s]

Everyone was looking for some relief due to COVID pandemics. But we actually dont need it because we grew our taxes under Covid.

KRA defies Covid to beat revenue collection target for 2020-21
https://www.the-star.co.ke › news › 2021-07-03-kra-de...
Jul 3, 2021 — 652 trillion thus surpassing the target by Sh16.808 billion. “During the year, KRA also recorded a milestone after revenue collection more than ...

Just30:
Now you are throwing tantrums ......Lunatic

If you believe all that you just typed, Why is your country busy looking for debt repayment freeze?

Healthy economies dont run begging for debt relieve

Mkenya2019:
You have degenerated into Just30 madness level. You're literally scraping the bottom of the barrel now...and yet Nigeria export 2 million barrels of Oil . Why would you denigrate into such a desperate level - Nigeria has really let you down.

Kenya debt to gdp/servicing to gdp/credit rating - is better than Ghana and Nigeria.

Kenya total debt is approaching 70B - and half of it external (35b)

You don't understand economics like just30 said.
What's wrong with you? Your debt is above 50% external. Do you want proof?
You can't compare your case with Nigeria or Ghana.
Gold prices are rising madly and oil is now $75.
Tea is now far below $2. Tourism is prostrate.

There are times when I wonder if you were sane. You just argue like a baby.