₦airaland Forum

Indians are only in manufacturing in Kenya. The rest of sectors they are not there.
we dealt with South Africa situation in three ways.
1) White land settlers - British gave us a loan to buy their development - they all left bar very few.
2) Indians - were the merchant class with dukawalas - in 1967 - we enacted law restricting indians to few sectors - mostly manufacturing - and disallowing them from opening business in many towns. Many left for the UK/Canada. Including the father of UK Prime minister now.
3) Civil servants - were slowly edged out after qualified kenyan were available.


The Kenyan Immigration Act 1967 required Asians to acquire work permits, whilst a Trade Licensing Act passed in the same year limited the areas of the country in which non-Kenyans could engage in trade.[29] In the late 1960s and early 1970s, faced with a dim future in Africa, many Asians choose to utilise their British passports and settle in the United Kingdom. Consequently, the Asian population in Kenya declined from 179,000 in 1962 to 139,000 in 1969 and to 78,000 in 1979

Right now, we have only 50,000 Kenyan Indians, almost all involved in manufacturing. Nigeria has a million Indians

Obaaderemi2:
Because I'm correct. The same way you talk about the South African case.

Can you mention any company owned by a Kenyan citizen doing well outside Kenya without mentioning an Indian?

Obaaderemi2:
Nigeria has not taken taxation seriously. VAT rate for example is low and there are so many loopholes in the tax net. This is because the government relies primarily on oil revenue. Now the oil curse is being lifted. We got no choice but to tax aggressively. What with the huge debts.

This is where the next election comes in. With what Tinubu did on taxation in Lagos, I see him trippling tax income if he becomes president. And he is not a soft man. I don't like the man and can never vote for him but as things stand it's hard to imagine him losing that election, unless he dies before election day.

It's either Tinubu or Atiku unfortunately or fortunately, but amongst the two I prefer Tinubu's ideology not necessarily because I like the man himself (although I do in some ways and don't in other ways) but because I don't like the full blown free market capitalist ideology of Atiku while Tinubu is a socio-capitalist.

In Nigeria, we have brilliant candidates like the Accord Party Candidate whom I vibe with most (he is also refined socio-capitalist) but nobody seem to be looking his way.

Mkenya2019:
Kenya fuel stabilization fund was different from fuel subsidy that it morphed into when desperate Uhuru wanted to win election.
Fuel stabilization fund is supposed to smooth seasonal price changes - not subsidize fuel prices.
This money is deducted from every litre of fuel sold - kept for the rainy days - then inflationary pressure when Ukraine-Russia fight eases out.

Nigeria fuel subsidy is total bonkers.
Tax collection may or may not improve with your best efforts.
Ending fuel subsidy will give your gov the oil revenue immediately.

Then your legislature can decide how to best spend the money.
Maybe building schools, hiring teachers and get the 10 million kids out of school is better expenditure than having people running around with cheap fuel on their 30yr old inefficient cars.
Maybe building roads will reduce the maintenance cost of running 50yr old trucks - that are wasting fuel.

In short let parliament decide the best expenditure of that money - in pro poor reforms - you're already world leader in poverty.

You can't teach us anything. You'll rather learn from us. We've already set a date for the removal of subsidy. This year we have at least 3 refineries coming up. You should learn to build your own refineries too instead of relying on imports alone. The only thing sustaining your society are the Chinese loans. Before you know, the day of reckoning will be upon you and we'll have another Lebanon in our continent.

Obaaderemi2:
You can't teach us anything. You'll rather learn from us. We've already set a date for the removal of subsidy. This year we have at least 3 refineries coming up. You should learn to build your own refineries too instead of relying on imports alone. The only thing sustaining your society are the Chinese loans. Before you know, the day of reckoning will be upon you and we'll have another Lebanon in our continent.

Always talking about the future..not the present or the past.Chinese has not lend us any money since 2017 Nairobi-Naivasha sgr phase 2.What pays debt is gov revenues.You can't generate it and you're hoping the old sickly Tinubu will be the magic ward.

Mkenya2019:
Always talking about the future..not the present or the past.Chinese has not lend us any money since 2017 Nairobi-Naivasha sgr phase 2.What pays debt is gov revenues.You can't generate it and you're hoping the old sickly Tinubu will be the magic ward.

So with what have we been paying our debt? You should worry about your country defaulting and becoming the next Lebanon.
The Chinese after the world Bank are your biggest creditors. What's the past about that?

Despite the global economic headwinds that saw many tech giants embark on mass layoffs last year,the growth trajectory of tech startups across the world continued in 2022 as Venture Capitals and angel investors injected billions of dollars into innovative companies globally.

In Africa, Nigeria maintained its leadership in terms of numbers even though funding slowed across the continent.


Indeed, 2022 was not as buoyant for the startups as 2021 in terms of funds raised. By the end of the year, Nigerian startups raised a total of about $1.3 billion according to various figures released by the individual companies. This is lower than over $1.5 billion raised by Nigerian startups in 2021.

It's not difficult to say Kenya was close second.

GeneralDae:
Despite the global economic headwinds that saw many tech giants embark on mass layoffs last year,the growth trajectory of tech startups across the world continued in 2022 as Venture Capitals and angel investors injected billions of dollars into innovative companies globally.

In Africa, Nigeria maintained its leadership in terms of numbers even though funding slowed across the continent.


Indeed, 2022 was not as buoyant for the startups as 2021 in terms of funds raised. By the end of the year, Nigerian startups raised a total of about $1.3 billion according to various figures released by the individual companies. This is lower than over $1.5 billion raised by Nigerian startups in 2021.

Kenya takes step to fix STEM with 200M dollars German funding.

The government will, in the next three years, phase out business courses in technical and vocational education and training (Tvet) institutions in favour of science, technology, engineering, and mathematics (Stem) courses.

This comes as President William Ruto announced plans to hire 3,000 tutors by March to offer quality education in Tvet institutions to meet the current market demands.

Also 57 new TVET colleges - taking them to more than 300 TVET colleges owned by gov- will be built in two years.

There are more than 2,340 TVET institutions, 4,604 trainers and 11, 299 programmes.

https://nation.africa/kenya/news/education/tvet-colleges-told-to-stop-business-courses-4073778

Mkenya2019:
It's not difficult to say Kenya was close second.

Yeah they were.

I know they were close as at third quarter. Don't have the full report on that of Kenya at the end of the year though.

You're cowardly sucking up to Ghanians. You cant bring yourself to admitting they are bankrupt. You had to bring your neo-colonialist Lebanon.

With Ruto on the driving seat - there is no way Kenya will become bankrupt soon.

We have stabilized the debt to gdp at 67% - the last few years - and we are going to bring it down to 50% very soon.

Actually, look like we could be at 60% soon.

"Kenya’s public debt stock hit Sh8.74 trillion ($71.03 billion) in the review period which is 62.3 per cent of the country’s gross domestic product (GDP)."
https://www.the-star.co.ke/business/kenya/2023-01-03-kenyas-external-debt-rises-to-sh47-trillion/

Obaaderemi2:
So with what have we been paying our debt? You should worry about your country defaulting and becoming the next Lebanon.
The Chinese after the world Bank are your biggest creditors. What's the past about that?

Obaaderemi2:
This is what I've been beating him over the head with since yesterday. It's so pathetic. And the worst part is that he doesn't seem to know. He posted examples of essay produced by Kenyan kids and I almost wept.

He is so dillutional

kenya

..

President Buhari set to commission first phase of the Blue Line Rail in Lagos State on January 24th.

Buhari will also inaugurate the Imota Rice Milling Factory (Largest Rice mill in Africa) , Kick off the construction of the 36kmFourth Mainland Bride in Africa( longest bridge in Africa) & flag off the second phase of the Blue Line Rail in Lagos.

Baller254:
kenya

The first picture looks more or less like a typical European environment.

Mkenya2019:
Kenya takes step to fix STEM with 200M dollars German funding.

The government will, in the next three years, phase out business courses in technical and vocational education and training (Tvet) institutions in favour of science, technology, engineering, and mathematics (Stem) courses.

This is very important. Well done! I believe Ruto has someone reading my posts here. Now you are taking science and maths seriously. Just like we've been saying here, you can't do well by going to University and other tertiary institutions to learn dancing and social studies alone.

Mkenya2019:
You're cowardly sucking up to Ghanians. You cant bring yourself to admitting they are bankrupt. You had to bring your neo-colonialist Lebanon.

With Ruto on the driving seat - there is no way Kenya will become bankrupt soon.

We have stabilized the debt to gdp at 67% - the last few years - and we are going to bring it down to 50% very soon.

Actually, look like we could be at 60% soon.

"Kenya’s public debt stock hit Sh8.74 trillion ($71.03 billion) in the review period which is 62.3 per cent of the country’s gross domestic product (GDP)."
https://www.the-star.co.ke/business/kenya/2023-01-03-kenyas-external-debt-rises-to-sh47-trillion/

What's sucking up to Ghanaians? Stop feeling insecure and face the mountain before you.
Your debt problems will only get worse this year. A thug and a landgrabber like Ruto can not save your ass.

Kogi state - north central

https://www.youtube.com/watch?v=Q_aK9w7EkXQ

Obaaderemi2:
This is very important. Well done! I believe Ruto has someone reading my posts here. Now you are taking science and maths seriously. Just like we've been saying here, you can't do well by going to University and other tertiary institutions to learn dancing and social studies alone.

Nigeria should deal with basics...number of out of school kids is staggering..world leading..we dealt with that in 2003...we have also ensured there is 100 percent transition to secondary..Africa 1st...now we are finally focusing on technical and vocational colleges.You need to start from basic..preschool then maybe in 2050 you can focus on STEM.kenya we are preparing for industrial take off...we want to move admission in TVET from half a million to four million.

Obaaderemi2:
What's sucking up to Ghanaians? Stop feeling insecure and face the mountain before you.
Your debt problems will only get worse this year. A thug and a landgrabber like Ruto can not save your ass.

See you can't bring yourself to admitting Ghana is broke. Kenya debt problem ended with disaster of Uhuru last regime.Ruto is busy restructuring the economy away from debt to Private Public Partnership.Kenya will balance its budget in 2024

68816419:
President Buhari set to commission first phase of the Blue Line Rail in Lagos State on January 24th.

Buhari will also inaugurate the Imota Rice Milling Factory (Largest Rice mill in Africa) , Kick off the construction of the 36kmFourth Mainland Bride in Africa( longest bridge in Africa) & flag off the second phase of the Blue Line Rail in Lagos.

You posted these projects since I came to nairaland.com. Finally they may get finished. TINUBU STARTED BLUE LINE IN 2003.You can't move at that snail speed even if Nigeria is a zoo.13 kilometres in 20yrs.That is almost 700 meters per year...13 meters per week...a meter per day.No wonder the Nigeria contractor in Nairobi took four years to fix a overpass..destroying business around there.You have to work on project timelessness and cost.

Mkenya2019:
See you can't bring yourself to admitting Ghana is broke. Kenya debt problem ended with disaster of Uhuru last regime.Ruto is busy restructuring the economy away from debt to Private Public Partnership.Kenya will balance its budget in 2024

What's my business with Ghana being broke or otherwise? I'm talking about kenya and Nigeria.

You keep talking about Ruto solving your debt problems but the article you posted claimed your debt problems are getting worse. Go and note this: Ruto will end up a worse president than Uhuru and he'll borrow more .

Mkenya2019:
You posted these projects since I came to nairaland.com. Finally they may get finished. TINUBU STARTED BLUE LINE IN 2003.You can't move at that snail speed even if Nigeria is a zoo.13 kilometres in 20yrs.That is almost 700 meters per year...13 meters per week...a meter per day.No wonder the Nigeria contractor in Nairobi took four years to fix a overpass..destroying business around there.You have to work on project timelessness and cost.

The rice milk is up and running. The blue line is up and running too. Show us new projects in Nairobi.

Okay fair enough.

Kenya debt will grow but economy will grow faster. This how to reduce debt - reduce the rate of borrowing as compared to growth of GDP/Revenues/ - as you pay off the earlier debt (principal+debt)

This is alien concept you. You want gov to totally stop borrowing.

Kenya gdp right now is more than 13.5 trillion Kshs...because our GDP is growing at 6% rate.

So how do we end up with say 50% debt to GDP - borrow (more) but at less rate than growth of GDP/Revenues.

First business was to arrest GDP/Debt - it's been stuck now at 65-68% for 5yrs - and now despite the KSH weakening 9% - we are now seeing debt to GDP falling to 62-65% or less.

The next budget we are borrowing just 700B kshs - we use to borrow even 1.2 trillion Kshs. Remember we are repaying 1.2-1.4 trillion Kshs annually.

So end of this year...we will have net minus 0.7 trillion of debt.... about 8 trillion while our GDP will be 14-15 trillion. One more year...we repay more and borrow less...we have GDP of 16 trillion Kshs - and debt of 8 trillion - we hit 50% debt to GDP - reduce debt service ratio from 50% to 30% - and we will be excellent.

In 2024/2025 - we hope to have a balanced budget.

Obaaderemi2:
What's my business with Ghana being broke or otherwise? I'm talking about kenya and Nigeria.

You keep talking about Ruto solving your debt problems but the article you posted claimed your debt problems are getting worse. Go and note this: Ruto will end up a worse president than Uhuru and he'll borrow more .

Obaaderemi2:
What's sucking up to Ghanaians? Stop feeling insecure and face the mountain before you.
Your debt problems will only get worse this year. A thug and a landgrabber like Ruto can not save your ass.

Allow me to rescue Obaboon's lips from the hobbits @ss!

https://fingfx.thomsonreuters.com/gfx/mkt/zjvqjjqompx/Pasted%20image%201670516125990.png

https://www.reuters.com/graphics/GHANA-ECONOMY/akveqqxqyvr/chart.png

https://fingfx.thomsonreuters.com/gfx/mkt/movakknnrva/Who-holds-ghana-s-domestic-debt.png

https://fingfx.thomsonreuters.com/gfx/mkt/zdvxddrlevx/Pasted%20image%201671009082690.png

https://pbs.twimg.com/media/EySjqbbXMAEwrwe.jpg

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

Mkenya2019:
Okay fair enough.

Kenya debt will grow but economy will grow faster. This how to reduce debt - reduce the rate of borrowing as compared to growth of GDP/Revenues/ - as you pay off the earlier debt (principal+debt)

This is alien concept you. You want gov to totally stop borrowing.

Kenya gdp right now is more than 13.5 trillion Kshs...because our GDP is growing at 6% rate.

So how do we end up with say 50% debt to GDP - borrow (more) but at less rate than growth of GDP/Revenues.

First business was to arrest GDP/Debt - it's been stuck now at 65-68% for 5yrs - and now despite the KSH weakening 9% - we are now seeing debt to GDP falling to 62-65% or less.

The next budget we are borrowing just 700B kshs - we use to borrow even 1.2 trillion Kshs. Remember we are repaying 1.2-1.4 trillion Kshs annually.

So end of this year...we will have net minus 0.7 trillion of debt.... about 8 trillion while our GDP will be 14-15 trillion. One more year...we repay more and borrow less...we have GDP of 16 trillion Kshs - and debt of 8 trillion - we hit 50% debt to GDP - reduce debt service ratio from 50% to 30% - and we will be excellent.

In 2024/2025 - we hope to have a balanced budget.

Sweet dreams.
Things have gotten worse for you since these charts were published.

Always fun


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

Launch control 2022


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

https://www.youtube.com/watch?v=Rro_UPm3vfA

68816419:
President Buhari set to commission first phase of the Blue Line Rail in Lagos State on January 24th.

Buhari will also inaugurate the Imota Rice Milling Factory (Largest Rice mill in Africa) , Kick off the construction of the 36kmFourth Mainland Bride in Africa( longest bridge in Africa) & flag off the second phase of the Blue Line Rail in Lagos.

Hw much does the kenya bridge cost again nd wats the length.
I mean the one the one they call expressway

Kenya's population growth for each of our last 6 population census periods. The growth rate has been on the decline and it may get to some interesting levels in the next 20 years.

QuietMynd:
Hw much does the kenya bridge cost again nd wats the length.
I mean the one the one they call expressway

Don't bother about the construction cost. That bridge will consume your entire lifetime without a see _ it will stand as a fantasy to your eye & zoo FRV, Unless you travel to developed countries and nations like Kenya or SA - or keep buying YOUTUBE bundles for an easy watch.

Happy new year from NBO. You can only experience such beauty from Nairobi.