₦airaland Forum

jl115:
if Accra is third tier then so is Nairobi

Relax hunter.

He is battling power rationing while quoting QOL. Crazy hunter. Their cities are slowly becoming 3rd world from 2nd world...crime, joblessness, drugs, power and water rationing.

JOHANNESBURG, Dec 7 (Reuters) - South African state power utility Eskom on Wednesday ramped up scheduled power cuts to "Stage 6", repeating the worst outage level on record and putting further strain on households and businesses.

The utility, whose ageing fleet of coal-fired power stations is prone to faults, said a flurry of breakdowns and delays returning other units to service had caused the escalation in outages.

Stage 6 power cuts require up to 6,000 megawatts to be shed from the national grid and mean at least six hours a day without power for most South Africans.

gallivant:
Relax hunter.

jl115:
such a long post that proves absolutely nothing..... Now try read my post again.... What indexes is Cario ahead of vs Joburg....

123...go

You're a prick. Get lost

gallivant:
Relax hunter.

jl115:
if Accra is third tier then so is Nairobi

Basing on what, QoL? For f*ckin sake, rest!

https://www.lboro.ac.uk/microsites/geography/gawc/

Accra is a fourth-tier city according to the global research institute. Nairobi, Capetown, and Casablanca in the same class --- closely followed by Lagos. Cairo and Joburg are in the same 1st class lower.

https://www.spottedbylocals.com/blog/alpha-beta-and-gamma-cities/

jl115:
such a long post that proves absolutely nothing..... Now try read my post again.... What indexes is Cario ahead of vs Joburg....

123...go

Cairo economy is nearly twice Joburg, That's one.
On Infrastructure development index ; Egypt thrushes South Africa by far.
Problemchild1, continue.

rvp2018:
Zambia finally found themselves a leader - they might have left broke Ghana in the misery corner forever


Hakainde Hichilema
@HHichilema
Political and economic stability coupled with rule of law, attracts investment and creates jobs.

Your worries should be about your struggling country ( righ now shilling is struggling against the dollar . Nearly 127 against the dollar for buying , the ruto adminstration keeps not to get his head over the dollar rise. You may be having Uganda shillings soon, so adjust your paper denomination to tolerate your poor currency. Just like how Ghanaian predicted , our currency has completely recover all her lost, inflation is gradually fading off. Economy management Wise, Ghana is ahead of any East africa

rvp2018:
He is battling power rationing while quoting QOL. Crazy hunter. Their cities are slowly becoming 3rd world from 2nd world...crime, joblessness, drugs, power and water rationing.

JOHANNESBURG, Dec 7 (Reuters) - South African state power utility Eskom on Wednesday ramped up scheduled power cuts to "Stage 6", repeating the worst outage level on record and putting further strain on households and businesses.

The utility, whose ageing fleet of coal-fired power stations is prone to faults, said a flurry of breakdowns and delays returning other units to service had caused the escalation in outages.

Stage 6 power cuts require up to 6,000 megawatts to be shed from the national grid and mean at least six hours a day without power for most South Africans.

I'm surprised you're mentioning crime, drugs, joblessness, water and power rationing when all these things are happening on a large skill in Kenya.

Thanks for this. This look really good way to rank cities.

Shma2022:
Accra is a fourth-tier city according to the global research institute. Nairobi, Capetown, and Casablanca in the same class --- closely followed by Lagos. Cairo and Joburg are in the same 1st class lower.

https://www.spottedbylocals.com/blog/alpha-beta-and-gamma-cities/

@shma2022
you're roaming from one blog to another .




Nairobi needs to improve these
electricity
water
Roads
public transportation
traffic congestion
medical supplies and services
infectious diseases
sewage
waste disposal
air pollution
standards and availability of schools
restaurants
theatres
cinemas
sports and leisure
availability of food/daily consumption items, cars
Improve Housing
Improve household appliances availability,
furniture availability,
Improve infrastructure maintenance services


Accra performed better in All those infrastructure and services than Nairobi and that is why they placed Accra far above Nairobi.

Improve those and you won't be here crying and cursing here.

Deadcat bounce changes nothing in bankrupt Ghana. Just wait for January. The fundementals are messed up.

vaxx:
Your worries should be about your struggling country ( righ now shilling is struggling against the dollar . Nearly 127 against the dollar for buying , the ruto adminstration keeps not to get his head over the dollar rise. You may be having Uganda shillings soon, so adjust your paper denomination to tolerate your poor currency. Just like how Ghanaian predicted , our currency has completely recover all her lost, inflation is gradually fading off. Economy management Wise, Ghana is ahead of any easy africa

A dream that made Ghana broke.

Ghana's Future

Mombasa

rvp2018:
Deadcat bounce changes nothing in bankrupt Ghana. Just wait for January. The fundementals are messed up.

just shut up. Cry for the fall of shillings.. your currency is struggling over dollar now .127 per dollar , that is so inept of ruto adminstration.

Again, you're wasting your insults; they have zero effect on me;
I only flow with facts.
Kshs is 123.
Ghana fundamentals remain messed.
It has defaulted already on local debt - and we are waiting for eurobond default;
IMF and diaspora dollars is giving Cedis a deadcat bounced.
Fundamentally - Ghana is still rated at default
https://www.fitchratings.com/research/sovereigns/fitch-downgrades-ghana-ltlc-idr-to-c-08-12-2022

What we are watching for in Q1 2023


Fitch Ratings - Hong Kong - 08 Dec 2022: Fitch Ratings has downgraded Ghana's Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to 'C' from 'CC'. The issue ratings on local-currency bonds issued domestically have also been downgraded to 'C' from 'CC'. Fitch has affirmed Ghana's Long-Term Foreign-Currency IDR at 'CC'. Fitch typically does not assign Outlooks to sovereigns with a rating of 'CCC+' or below.

A full list of rating actions is at the end of this rating action commentary.


KEY RATING DRIVERS
LC Debt Restructuring Announced: The downgrade of Ghana's follows the government's announcement of a formal invitation to exchange local-currency debt. Fitch deems this to be the initiation of a default-like process, consistent with a 'C' rating.

Invitation to Exchange LC Debt: On 5 December, the government of Ghana published an Exchange Memorandum inviting eligible holders of local-currency domestic debt to exchange their existing bonds for new bonds. These new bonds will pay significantly lower coupons, with 0% coupon in 2023, rising to 5% in 2024 and to 10% from 2025 onwards, and effectively extend maturities for eligible outstanding local-currency domestic debt. The restructuring comes in the context of efforts to secure IMF support and a local-currency restructuring seems to constitute a necessary prior action.

LC Exchange Qualifies as DDE: In Fitch's view, the debt exchange constitutes a distressed debt exchange under the agency's criteria, given that it entails a material reduction in terms and is needed to avoid an outright default. Fitch will downgrade the LTLC IDR to 'RD' after completion of the debt exchange, which the government currently expects on 20 December. The IDR could then be upgraded to a rating appropriate for Ghana's prospects on a forward-looking basis, but the LTLC IDR would be constrained by the fact that the foreign-currency debt situation would still need to be cleared.

Foreign-Currency Debt Not Yet Affected: The government also announced that it is preparing a restructuring of its external debt to restore debt sustainability. Fitch downgraded Ghana's rating to 'CC' on 23 September to indicate the increasing likelihood of a default event as a result of these pressures and in anticipation that an IMF-supported macroeconomic reform programme would require some form of debt restructuring. Ghana's already-high debt servicing burden and constrained access to finance both worsened during the successive shocks of the coronavirus pandemic and the Ukraine-Russia war, leading the government to seek IMF support in July 2022.

Partially Guaranteed Note Expected to Be Excluded: We have affirmed the rating on Ghana's partially guaranteed notes backed by the World Bank's International Development Association as the notes are expected to be excluded from an external debt restructuring even if other Eurobonds are included.


ESG - Governance: Ghana has an ESG Relevance Score (RS) of '5' for both Political Stability and Rights and for the Rule of Law, Institutional and Regulatory Quality and Control of Corruption. Theses scores reflect the high weight that the World Bank Governance Indicators (WBGI) have in our proprietary Sovereign Rating Model. Ghana has a medium WBGI ranking at 50.8 reflecting a recent track record of peaceful political transitions, a moderate level of rights for participation in the political process, moderate institutional capacity, established rule of law and a moderate level of corruption.

ESG - Creditor Rights: Ghana has an ESG Relevance Score (RS) of 5 for Creditor Rights as willingness to service and repay debt is highly relevant to the rating and is a key rating driver with a high weight. The current rating action reflects Fitch's view that a default event is imminent.


RATING SENSITIVITIES
Factors that could, individually or collectively, lead to negative rating action/downgrade:
-Completion of the proposed debt local-currency exchange would lead to a downgrade of Ghana's LTLC IDR to 'RD'.

- Failure to make scheduled coupon or maturity payments on Ghana's foreign-currency bonds within the grace period would lead to a downgrade of Ghana's LTFC IDR to 'RD'.

- Signs that the partially guaranteed notes might be included in a restructuring could lead to a downgrade of their rating.


Factors that could, individually or collectively, lead to positive rating action/upgrade:
- Withdrawal of the local-currency debt exchange offer and payment of upcoming coupon payments within stipulated grace periods.

- Evidence that foreign-currency debt would be excluded from the overall effort to address Ghana's debt pressure could lead to an upgrade of the LTFC IDR and affected issuances.

vaxx:
just shut up. Cry for the fall of shillings.. your currency is struggling over dollar now .127 per dollar , that is so inept of ruto adminstration.

rvp2018:
Again, you're wasting your insults; they have zero effect on me;
I only flow with facts.
Kshs is 123.
Ghana fundamentals remain messed.
It has defaulted already on local debt - and we are waiting for eurobond default;
IMF and diaspora dollars is giving Cedis a deadcat bounced.
Fundamentally - Ghana is still rated at default
https://www.fitchratings.com/research/sovereigns/fitch-downgrades-ghana-ltlc-idr-to-c-08-12-2022

What we are watching for in Q1 2023


Fitch Ratings - Hong Kong - 08 Dec 2022: Fitch Ratings has downgraded Ghana's Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to 'C' from 'CC'. The issue ratings on local-currency bonds issued domestically have also been downgraded to 'C' from 'CC'. Fitch has affirmed Ghana's Long-Term Foreign-Currency IDR at 'CC'. Fitch typically does not assign Outlooks to sovereigns with a rating of 'CCC+' or below.

A full list of rating actions is at the end of this rating action commentary.


KEY RATING DRIVERS
LC Debt Restructuring Announced: The downgrade of Ghana's follows the government's announcement of a formal invitation to exchange local-currency debt. Fitch deems this to be the initiation of a default-like process, consistent with a 'C' rating.

Invitation to Exchange LC Debt: On 5 December, the government of Ghana published an Exchange Memorandum inviting eligible holders of local-currency domestic debt to exchange their existing bonds for new bonds. These new bonds will pay significantly lower coupons, with 0% coupon in 2023, rising to 5% in 2024 and to 10% from 2025 onwards, and effectively extend maturities for eligible outstanding local-currency domestic debt. The restructuring comes in the context of efforts to secure IMF support and a local-currency restructuring seems to constitute a necessary prior action.

LC Exchange Qualifies as DDE: In Fitch's view, the debt exchange constitutes a distressed debt exchange under the agency's criteria, given that it entails a material reduction in terms and is needed to avoid an outright default. Fitch will downgrade the LTLC IDR to 'RD' after completion of the debt exchange, which the government currently expects on 20 December. The IDR could then be upgraded to a rating appropriate for Ghana's prospects on a forward-looking basis, but the LTLC IDR would be constrained by the fact that the foreign-currency debt situation would still need to be cleared.

Foreign-Currency Debt Not Yet Affected: The government also announced that it is preparing a restructuring of its external debt to restore debt sustainability. Fitch downgraded Ghana's rating to 'CC' on 23 September to indicate the increasing likelihood of a default event as a result of these pressures and in anticipation that an IMF-supported macroeconomic reform programme would require some form of debt restructuring. Ghana's already-high debt servicing burden and constrained access to finance both worsened during the successive shocks of the coronavirus pandemic and the Ukraine-Russia war, leading the government to seek IMF support in July 2022.

Partially Guaranteed Note Expected to Be Excluded: We have affirmed the rating on Ghana's partially guaranteed notes backed by the World Bank's International Development Association as the notes are expected to be excluded from an external debt restructuring even if other Eurobonds are included.


ESG - Governance: Ghana has an ESG Relevance Score (RS) of '5' for both Political Stability and Rights and for the Rule of Law, Institutional and Regulatory Quality and Control of Corruption. Theses scores reflect the high weight that the World Bank Governance Indicators (WBGI) have in our proprietary Sovereign Rating Model. Ghana has a medium WBGI ranking at 50.8 reflecting a recent track record of peaceful political transitions, a moderate level of rights for participation in the political process, moderate institutional capacity, established rule of law and a moderate level of corruption.

ESG - Creditor Rights: Ghana has an ESG Relevance Score (RS) of 5 for Creditor Rights as willingness to service and repay debt is highly relevant to the rating and is a key rating driver with a high weight. The current rating action reflects Fitch's view that a default event is imminent.


RATING SENSITIVITIES
Factors that could, individually or collectively, lead to negative rating action/downgrade:
-Completion of the proposed debt local-currency exchange would lead to a downgrade of Ghana's LTLC IDR to 'RD'.

- Failure to make scheduled coupon or maturity payments on Ghana's foreign-currency bonds within the grace period would lead to a downgrade of Ghana's LTFC IDR to 'RD'.

- Signs that the partially guaranteed notes might be included in a restructuring could lead to a downgrade of their rating.


Factors that could, individually or collectively, lead to positive rating action/upgrade:
- Withdrawal of the local-currency debt exchange offer and payment of upcoming coupon payments within stipulated grace periods.

- Evidence that foreign-currency debt would be excluded from the overall effort to address Ghana's debt pressure could lead to an upgrade of the LTFC IDR and affected issuances.

like I said your shilling is 127 against dollar , nobody buys it 123 you lier.


More goggle and paste pls .

What do they teach you in Ghana school;
Not English? Not logic? Not Economics.
Why are exactly are spending money to finance an education system that output idiots like you.
The exchange rate is median btw buys and sells;

Kenya Shilling Slides To Ksh.123 Mark Against The U.S Dollar
https://www.citizen.digital/business/kenya-shilling-slides-to-ksh123-mark-against-the-us-dollar-n311267

vaxx:
like I said your shilling is 127 against dollar , nobody buys it 123 you lier.


More goggle and paste pls .

rvp2018:
Again, you're wasting your insults; they have zero effect on me;
I only flow with facts.
Kshs is 123.
Ghana fundamentals remain messed.
It has defaulted already on local debt - and we are waiting for eurobond default;
IMF and diaspora dollars is giving Cedis a deadcat bounced.
Fundamentally - Ghana is still rated at default
https://www.fitchratings.com/research/sovereigns/fitch-downgrades-ghana-ltlc-idr-to-c-08-12-2022

What we are watching for in Q1 2023


Fitch Ratings - Hong Kong - 08 Dec 2022: Fitch Ratings has downgraded Ghana's Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to 'C' from 'CC'. The issue ratings on local-currency bonds issued domestically have also been downgraded to 'C' from 'CC'. Fitch has affirmed Ghana's Long-Term Foreign-Currency IDR at 'CC'. Fitch typically does not assign Outlooks to sovereigns with a rating of 'CCC+' or below.

A full list of rating actions is at the end of this rating action commentary.


KEY RATING DRIVERS
LC Debt Restructuring Announced: The downgrade of Ghana's follows the government's announcement of a formal invitation to exchange local-currency debt. Fitch deems this to be the initiation of a default-like process, consistent with a 'C' rating.

Invitation to Exchange LC Debt: On 5 December, the government of Ghana published an Exchange Memorandum inviting eligible holders of local-currency domestic debt to exchange their existing bonds for new bonds. These new bonds will pay significantly lower coupons, with 0% coupon in 2023, rising to 5% in 2024 and to 10% from 2025 onwards, and effectively extend maturities for eligible outstanding local-currency domestic debt. The restructuring comes in the context of efforts to secure IMF support and a local-currency restructuring seems to constitute a necessary prior action.

LC Exchange Qualifies as DDE: In Fitch's view, the debt exchange constitutes a distressed debt exchange under the agency's criteria, given that it entails a material reduction in terms and is needed to avoid an outright default. Fitch will downgrade the LTLC IDR to 'RD' after completion of the debt exchange, which the government currently expects on 20 December. The IDR could then be upgraded to a rating appropriate for Ghana's prospects on a forward-looking basis, but the LTLC IDR would be constrained by the fact that the foreign-currency debt situation would still need to be cleared.

Foreign-Currency Debt Not Yet Affected: The government also announced that it is preparing a restructuring of its external debt to restore debt sustainability. Fitch downgraded Ghana's rating to 'CC' on 23 September to indicate the increasing likelihood of a default event as a result of these pressures and in anticipation that an IMF-supported macroeconomic reform programme would require some form of debt restructuring. Ghana's already-high debt servicing burden and constrained access to finance both worsened during the successive shocks of the coronavirus pandemic and the Ukraine-Russia war, leading the government to seek IMF support in July 2022.

Partially Guaranteed Note Expected to Be Excluded: We have affirmed the rating on Ghana's partially guaranteed notes backed by the World Bank's International Development Association as the notes are expected to be excluded from an external debt restructuring even if other Eurobonds are included.


ESG - Governance: Ghana has an ESG Relevance Score (RS) of '5' for both Political Stability and Rights and for the Rule of Law, Institutional and Regulatory Quality and Control of Corruption. Theses scores reflect the high weight that the World Bank Governance Indicators (WBGI) have in our proprietary Sovereign Rating Model. Ghana has a medium WBGI ranking at 50.8 reflecting a recent track record of peaceful political transitions, a moderate level of rights for participation in the political process, moderate institutional capacity, established rule of law and a moderate level of corruption.

ESG - Creditor Rights: Ghana has an ESG Relevance Score (RS) of 5 for Creditor Rights as willingness to service and repay debt is highly relevant to the rating and is a key rating driver with a high weight. The current rating action reflects Fitch's view that a default event is imminent.


RATING SENSITIVITIES
Factors that could, individually or collectively, lead to negative rating action/downgrade:
-Completion of the proposed debt local-currency exchange would lead to a downgrade of Ghana's LTLC IDR to 'RD'.

- Failure to make scheduled coupon or maturity payments on Ghana's foreign-currency bonds within the grace period would lead to a downgrade of Ghana's LTFC IDR to 'RD'.

- Signs that the partially guaranteed notes might be included in a restructuring could lead to a downgrade of their rating.


Factors that could, individually or collectively, lead to positive rating action/upgrade:
- Withdrawal of the local-currency debt exchange offer and payment of upcoming coupon payments within stipulated grace periods.

- Evidence that foreign-currency debt would be excluded from the overall effort to address Ghana's debt pressure could lead to an upgrade of the LTFC IDR and affected issuances.

long epistle of nothing

Keep crying

I will keep it short. Ghana is still bankrupt.

Just30:
long epistle of nothing

Keep crying

rvp2018:
What do they teach you in Ghana school;
Not English? Not logic? Not Economics.
Why are exactly are spending money to finance an education system that output idiots like you.
The exchange rate is median btw buys and sells;

Kenya Shilling Slides To Ksh.123 Mark Against The U.S Dollar
https://www.citizen.digital/business/kenya-shilling-slides-to-ksh123-mark-against-the-us-dollar-n311267

Aren't you an example of Kenya polluted educational system? Haven't we see the level of illiteracy in full display , you are wanting in common comprehension . How much more basic fact . The 123 is the benchmark price , that is how it has slides to. You will not get it in the market like that you monkey . The least you will be getting is 127.

Verbiage.
Banks and Forex buy low and sell high.
The exchange rate is median.

vaxx:
Aren't you an example of Kenya polluted educational system? Haven't we see the level of illiteracy in full display , you are wanting in common comprehension . How much more basic fact . The 123 is the benchmark price , that is how it has slides to. You will not get it in the market like that you monkey . The least you will be getting is 127.

rvp2018:
Verbiage.
Banks and Forex buy low and sell high.
The exchange rate is median.

i understand this stuff better than
your idiot self , it is what I do almost every week. The 123 is the benchmark standard from your national bank( cbk) stupid individual like you can't get it like that in the open market because of the profit margin , you will be getting it averagely at 127 if not more than that.

Everyone dealing with forex understand low and highs - and median is the exchange rate;

If it's Makola market - we sample all forex exchange in that backstreet; get their lows - buy dollars cheaply - sell dollars high - and makola exchange rate is the median.

If you go to your bank - you will see sells and buys rate - the difference is their profit margin - the exchange rate is low+high divided by 2.

Is there a Ghanian with at least some decent education?

vaxx:
i understand this stuff better than
your idiot self , it is what I do almost every week. The 123 is the benchmark standard from your national bank( cbk) stupid individual like you can't get it like in the open market because of the profit margin , you will be getting it averagely at 127 if not more than that.

rvp2018:
Everyone dealing with forex understand low and highs - and median is the exchange rate;

If it's Makola market - we sample all forex exchange in that backstreet; get their lows - buy dollars cheaply - sell dollars high - and makola exchange rate is the median.

If you go to your bank - you will see sells and buys rate - the difference is their profit margin - the exchange rate is low+high divided by 2.

Is there a Ghanian with at least some decent education?

this is the illiteracy I am taking about ? A stupid individual like you is written my word back to me as if he is making sense , you are only repeating the same thing I let you know. Fool. There is a benchmark price that your national banks value your currency when compared with dollars ( that is the amount she will sell it to the banks or other regulated agency ) and your banks will make a profit margin when trading it hence the reason you can't get it 123 the same price your national bank will sell it to your bank.


You monkey

Benchmark or inter-bank rate is still a median of what Central bank is willing to buy and sell;
Central Bank also are in forex business to make profit;
At least Kenya one - and they declare profit - and pay Kenya gov.

vaxx:
this is the illiteracy I am taking about ? A stupid individual like you is written my word back to me as if he is making sense , you are only repeating the same thing I let you know. Fool. There is a benchmark price that your national banks value your currency when compared with dollars ( that is the amount she will sell it to the banks or other regulated agency ) and your banks will make a profit margin when trading it hence the reason you can't get it 123 the same price your national bank will sell it to your bank.


You monkey

You see - MEAN - btw buys and sells - is the exchange rate.
You dont pick Ghana lows (sell) and Kenya High(buy) - that is nonsense.
You pick the mean - of sell and buys - and that is the prevailing exchange rate.

Just reminding the hobbits what led them to a 27th IMF bailout.

https://www.myjoyonline.com/wp-content/uploads/news/201905/3390857413462_3637857541752.JPG

rvp2018:
Benchmark or inter-bank rate is still a median of what Central bank is willing to buy and sell;
Central Bank also are in forex business to make profit;
At least Kenya one - and they declare profit - and pay Kenya gov.

what you can buy with your money is what give it value. Currency are made up from your available pulse . How much is presently in cbk account.

Cbk make up the numbers based on what your economy can sustain and bank also sell with the amount of the dollar they hold. That is why banks and forex all have slightly different numbers for different reasons even though the available cbk price is 123. Banks and forex will not have the same price. I have school you freely .

First Learn English and I may understand what you're saying.
Forex are sold like tomatos in Makola market by women there while trying to turn some marginal profit.
The sellers buy low from farmers and try to sell high to customers.

The price is really not constant; you negotiate based on how much you're buying or selling.

To get the prevailing exchange rate - is basically the mean of buys and sells.

If you're selling dollars - your bank will buy low. If you are buying - they will sell high. The difference is their profit.

The exchange rate is generally indicative of mean of buys and sells but everyone buys at almost different exchange rate.

vaxx:
what you can buy with your money is what give it value. Currency are made it up from your available pulse . How much is presently in cbk account.

Cbk make up the numbers based on what your economy can sustain and bank also sell with the amount of the dollar they hold. That is why banks and forex all have slightly different numbers for differant reasons even though the available cbk price is 123. Banks and forex will not have the same price. I have school you freely .

rvp2018:
Cairo left any South Africa city long time ago by investing 45B dollars.

They actually have spent 60B dollars...while you've be thumbing and sucking your fingers waiting for day boers return to south africa political leadership

https://www.nytimes.com/2022/10/08/world/middleeast/egypt-new-administrative-capital.html

All that investment and its still a sh1t place to live.... Almost as sh1t as Nairobi......

So tell me why are our cities nearly a 100 places ahead of Cairo in terms of QOL??

Not just that if we look at infrastructure our cities also rank considerably higher...

ProblemChild1:
You're a prick. Get lost

next time stay in your lane and know your role....