gallivant:


I am trying to end the misinformation. You can call it whatever you like, free speech is encouraged here.

😳😳

You mean, you're trying to end your country embarrassment

vankelvin:
Ruto was the 2nd driver in that sinking ship
He did not enter into it, he is part of the problem
[b]

Yes Ruto was vice president. But what you fail to understand is,most of these vice presidents in africa are just powerless to do things. That's why,you won't see them being active in their government. Most of these guys are just going overseas for a show representing the tired presidents.
You can't blame Ruto much,he was powerless.

Kazikazi:
Yes Ruto was vice president. But what you fail to understand is,most of these vice presidents in africa are just powerless to do things. That's why,you won't see them being active in their government. Most of these guys are just going overseas for a show representing the tired presidents.
You can't blame Ruto much,he was powerless.

Powerless maybe but effective.

Just30:
😳😳

You mean, you're trying to end your country embarrassment

We didn't default on our debts, zero embarrassment.

gallivant:


Ignoring facts is very common. Kenyans have owned Tanzanians since the Europeans left, their anger is understandable.

Just keep on fabricating those graphs.


But this is what is happening on ground.....

rvp2018:
Ethiopia are broke and out. Their birr has depreciated. The economy has 1 week of forex.

Angola is ahead of kenya - but not for long. All Oil economies have enjoyed the boom - soon they will go back to burst - this is why most African countries cannot develop - it cycles of Booming and Depression - because ANGOLA economy is OIL.

Kenya will nail Angola and Morroco very soon.

Tanzania can NEVER get near kenya - we are now almost double your economy.

TZ economy is not even 70B - kenya is 120B.

ever since I came in this nairaland, you have been singing that song of overtaking Morocco. But the opposite came,Angola and Ethiopia have overtaken you.keep on singing that Morocco chorus.Very soon you wil, be out of top 10.

Tanzania have completed LNG negotiations, 40+ billions are about to been poured in this big economy. Keep singing your Morocco chorus

SGR will reach DRC in few years but you...Keep on singing that Morocco chorus

Bagamoyo 10b port will start construction this coming financial year,.But you, go sing that Morocco chorus

Wembere basin oil exploration is in advanced stage.Oil is there,we are waiting for final announcement to know the exactly figures. You fellow go and sing morrocan chorus

Revolution in agriculture is now happening at a speed of light.TZ agriculture sector is now growing at a double digit.You sit there,sing that Morocco chorus

Should I talk about manufacturing?

Kenya replaced old 1000 notes with new 1000 notes recently. All the money was return bar 7B (70M dollars) that maybe were stuck in diaspora. There was no chaos. The gov credited themselves that 70M dollars...and we moved on. They used 15B to print the new notes.

We had 290B old Notes - outside banking - 280B were returned and exchanged.

What you did is comical. Kenya was unneccesary because Uhuru thought Ruto had stashed billions underground for 2022 campaign so wanted to disbaled him

Subsaharan:


what an idiot! Tell me you don't know the meaning of demonetization without telling me you don't know the meaning of demonetization

United republic of Tanzania tztztztztz

Economy is people. Not projects. When will your communist nation ever wake up. You can build all grandiose project but please invest in PEOPLE.

Invest in education, healthcare, population control, SME financing, democracy, devolution, decentralisation, trade.

People will drive the economy.

If you invest in projects like TAZARA - how has that helped Tanzania.

Big infrastracture projects have a LONNNNNNNNNNNNNNNNNNNNNNNNNNNNNG PAYBACK period.

Kazikazi:
ever since I came in this nairaland, you have been singing that song of overtaking Morocco. But the opposite came,Angola and Ethiopia have overtaken you.keep on singing that Morocco chorus.Very soon you wil, be out of top 10.

Tanzania have completed LNG negotiations, 40+ billions are about to been poured in this big economy. Keep singing your Morocco chorus

SGR will reach DRC in few years but you...Keep on singing that Morocco chorus

Bagamoyo 10b port will start construction this coming financial year,.But you, go sing that Morocco chorus

Wembere basin oil exploration is in advanced stage.Oil is there,we are waiting for final announcement to know the exactly figures. You fellow go and sing morrocan chorus

Revolution in agriculture is now happening at a speed of light.TZ agriculture sector is now growing at a double digit.You sit there,sing that Morocco chorus

Should I talk about manufacturing?

United republic TZTZTZ Tanzania

One most useless bridges ever conceived by a human.

Kazikazi:
United republic of Tanzania tztztztztz

United republic of TZTZ TZTZTZ Tanzania

SGR Dar es salaam tanzanite station Tanzania tztztztztz tztztz

Tanzania tztztztztz
A new superpower

Tanzania tztztztztz

Tanzania tztztztztz

rvp2018:
One most useless bridges ever conceived by a human.

pain is talking.wait for another bridge,kigogo busisi bridge..3kms long

rvp2018:
Kenya replaced old 1000 notes with new 1000 notes recently. All the money was return bar 7B (70M dollars) that maybe were stuck in diaspora. There was no chaos. The gov credited themselves that 70M dollars...and we moved on. They used 15B to print the new notes.

We had 290B old Notes - outside banking - 280B were returned and exchanged.

What you did is comical. Kenya was unneccesary because Uhuru thought Ruto had stashed billions underground for 2022 campaign so wanted to disabled him

The whole point of printing new notes was to get about N2trn worth of notes from people's homes back into the banking system.

in '21 about N1trn was released into the economy through the CBN policy of quantum easing.

This policy is, among other things a major cause of inflation today.

It was not solely about printing new notes, taking N2trn worth of cash did not mean cash confiscation, Old notes were deposited in the banks so Nigerians still had access to their money, I read somewhere this morning that cashless transactions for Feb. increased by a whopping 70%

I admit that the market was going through some shocks as policy implementation was sudden, but people were gradually adjusting to the reality and the market would have fully recovered in no time.

I have not seen N1000 notes in 2 weeks but I've spent over N30k since then, I have gone to the market twice since then, and vendors found ways to adjust, I made all payments through my phone.

The whole policy was about the Demonetization of the economy a policy that was on the cards since '11. I still stand my ground to say that I'm in support of the policy.

apart from the gains of formalizing the economy, it would also help with revenue generation to plug the deficit, with Nigeria's revenue-to-GDP ratio being less than 10%

It would also transform the economy into a credit-based one where small businesses would have access to credit. most Nigerians don't even know what a credit score is.

Hundreds of thousands of jobs created in the Fintech sector etc.

The pros are more than the cons, but short sighted people did everything to truncate the little progress we've made. Do you know how much we would have saved and how things could been different if the energy subsidies were removed in 2011? That's that moment playing out again today.,

Yes, Feb. economic data would have slowed but things would have picked up again in subsequent months if we stayed at it.

But I guess Nigerians want their Utopia without wanting to break a sweat for it, that's the country I live in.

Goel:


Event: Modi announced in evening at 8 PM that Ruppee 1000 & 2000 banknotes aren't a legal tender anymore and gave time to citizens till 31st December for changing it through banks. It was a part of PM Modi's program against corruption (find out accumulated cash money by hoarders), countering fake Indian currency used by India's neighbors and pushing for cashless economy where everything happens online. People of India weren't upto it


Shopkeepers immediately stopped accepting that currency from buyers which led to catastrophe and long queues outside banks. Due to short supplies, banks only started to give Rs. 4000 cash at once due to supply problems. Faith of most hardcore Modi supporters was shaken in him.

Within next two years, Indian government ran digital India to provide more & more internet, planned Jan Dhan for more & more bank accounts for people in remote areas and developed an advanced online payments system called Unified Payments Interface (UPI).

People started to switch to more online transactions, share of cash dropped greatly in India's economy and gradually became world's largest country in terms of cashless trades. Till 2018, economy had completely recovered from 2016 shocks and industrialisation in country had begun amid boycott China movement around world which gave Modi a bigger election victory in 2019 than he had in 2014.

Corona era further encouraged cashless system, government gradually introduced from essential documents to COVID certificates and things online.

Basically, this was seen bad when happened but now Modi proudly boasts his strong decisions due back to back success. People don't care about it anymore as Modi's new promises are more about competition with Western world, China and Russia in terms of military power, economy, and technology. India due to its massive size inevitably will become a superpower one day, will be stronger every year and Modi will get more and more votes in name of it.

Look at what Goel said the other day, India was able to get on with it.

Today they have the most resilient economy in the world and are commissioning projects every other day.

Nigerians want to get to this level without putting in the work.

Na for here we go sleep.

rvp2018:
Economy is people. Not projects. When will your communist nation ever wake up. You can build all grandiose project but please invest in PEOPLE.

Invest in education, healthcare, population control, SME financing, democracy, devolution, decentralisation, trade.

People will drive the economy.

If you invest in projects like TAZARA - how has that helped Tanzania.

Big infrastracture projects have a LONNNNNNNNNNNNNNNNNNNNNNNNNNNNNG PAYBACK period.

You think you can run a real economy without projects. Why has Japan,south Korea,etc have all done those big projects like electrified railway systems?

Actually Tz is investing more on people than you.have you tried to think how much money have been poured in irrigation systems.WE ALSO have more healthcare facilities than you. We have more engineers than you,because we invested on people.We have far less slums than you ,just because we have invested on people. We are building BRT because we invest on people.
You can use a real example,take a poorest province in TZ which is kagera,let's compare with Kenya's poorest province,definitely Kenyans will be more poorer.Why? Because we invested on rural areas far more than you.
Tazara was invested by China for free,we had no control of shifting the money.

rvp2018:
Economy is people. Not projects. When will your communist nation ever wake up. You can build all grandiose project but please invest in PEOPLE.

Invest in education, healthcare, population control, SME financing, democracy, devolution, decentralisation, trade.

People will drive the economy.

If you invest in projects like TAZARA - how has that helped Tanzania.

Big infrastracture projects have a LONNNNNNNNNNNNNNNNNNNNNNNNNNNNNG PAYBACK period.

🤣😂

Funniest comment from you ... Yet you spent years arguing otherwise

Nigeria

https://www.premiumtimesng.com/news/top-news/587721-foreign-airlines-trapped-funds-in-nigeria-increases-to-743-million-iata.html

You're writting lots of nonsense.
Fintech money is BACKED BY REAL money.
When you send 1,000 naira electronically to someone - you bank MUST have that 1,000 Naira in their vault - just incase one wants to withdraw cash.
Kenya pioneered mobile money - and it usage is very high - yet there is still space for cash, cheques, bank transfer.
What has changed - cash in circulation has failed to grow - but banks still need to keep hard cold cash - for every digital currency.

Unless you're rolling e-naira - a virtual currency - totally different concept

What you've done is to simply rob Nigerians their hard earned money

Subsaharan:


The whole point of printing new notes was to get about N2trn worth of notes from people's homes back into the banking system.

in '21 about N1trn was released into the economy through the CBN policy of quantum easing.

This policy is, among other things a major cause of inflation today.

It was not solely about printing new notes, taking N2trn worth of cash did not mean cash confiscation, Old notes were deposited in the banks so Nigerians still had access to their money, I read somewhere this morning that cashless transactions for Feb. increased by a whopping 70%

I admit that the market was going through some shocks as policy implementation was sudden, but people were gradually adjusting to the reality and the market would have fully recovered in no time.

I have not seen N1000 notes in 2 weeks but I've spent over N30k since then, I have gone to the market twice since then, and vendors found ways to adjust, I made all payments through my phone.

The whole policy was about the Demonetization of the economy a policy that was on the cards since '11. I still stand my ground to say that I'm in support of the policy.

apart from the gains of formalizing the economy, it would also help with revenue generation to plug the deficit, with Nigeria's revenue-to-GDP ratio being less than 10%

It would also transform the economy into a credit-based one where small businesses would have access to credit. most Nigerians don't even know what a credit score is.

Hundreds of thousands of jobs created in the Fintech sector etc.

The pros are more than the cons, but short sighted people did everything to truncate the little progress we've made. Do you know how much we would have saved and how things could been different if the energy subsidies were removed in 2011? That's that moment playing out again today.,

Yes, Feb. economic data would have slowed but things would have picked up again in subsequent months if we stayed at it.

But I guess Nigerians want their Utopia without wanting to break a sweat for it, that's the country I live in.

In Kenya if I can recall
Cash in circulation is 250-290B
Mpesa mobile money - through agents - about 7 trillion.
Cheques about 2 trillion
Electronic transfers - bank to bank/mobile to baks - real time - 34 trillion.

All these must be backed by real hard cold cash held by banks (normally they keep 20% in their bank vault) and rest they keep in central bank.

Only difference - money circulating in notes & coin is 250B - while more than 55 trillion is electronically exchanged - but backed by real cash.

You can always walk to bank - and ask to withdraw all your electronic money. The worse they can tell you is to wait for few hours as they pick cash from Central bank vault.

Electronic or virtual money that is whole different animal - bitcoin like.

https://www.businessdailyafrica.com/bd/markets/market-news/cheques-from-rival-banks-to-be-cleared-in-a-day--4157468
In Kenya, the usage of cheques has slowed down in the last decade, losing out to digital payment channels which are more efficient for businesses and individuals.

While the value of cheques went up from Sh2.05 trillion in 2011 to Sh2.55 trillion last year, the number issued in the payments fell from 18.2 million to 15.69 million in the period, says the Central Bank of Kenya (CBK).

Meanwhile, the volume of cash transacted through mobile money agents rose nearly six times to hit Sh6.87 trillion in 2021, from Sh1.17 trillion in 2011.

Bulk payments made through real-time bank transfers have also gone up by a significant margin, from Sh21.9 trillion in 2011 to Sh34.55 trillion in 2021.

Moving cash physically adds significant costs to businesses due to transport, security and other costs.

If you believe in data and empericism we would talk.
Human capital investment - a Tanzania cannot speak in English despite it being language of instruction.
Healthcare - you president died in Nairobi and opposition leader he wanted killed was stitched in Nairobi.
Social investment.
Infra investment.

When all is said and done - kenya economy is 120B - Tanzania is 70B.

Kazikazi:
You think you can run a real economy without projects. Why has Japan,south Korea,etc have all done those big projects like electrified railway systems?

Actually Tz is investing more on people than you.have you tried to think how much money have been poured in irrigation systems.WE ALSO have more healthcare facilities than you. We have more engineers than you,because we invested on people.We have far less slums than you ,just because we have invested on people. We are building BRT because we invest on people.
You can use a real example,take a poorest province in TZ which is kagera,let's compare with Kenya's poorest province,definitely Kenyans will be more poorer.Why? Because we invested on rural areas far more than you.
Tazara was invested by China for free,we had no control of shifting the money.

rvp2018:
You're writting lots of nonsense.
Fintech money is BACKED BY REAL money.
When you send 1,000 naira electronically to someone - you bank MUST have that 1,000 Naira in their vault - just incase one wants to withdraw cash.
Kenya pioneered mobile money - and it usage is very high - yet there is still space for cash, cheques, bank transfer.
What has changed - cash in circulation has failed to grow - but banks still need to keep hard cold cash - for every digital currency.

Unless you're rolling e-naira - a virtual currency - totally different concept

What you've done is to simply rob Nigerians their hard earned money

I have come to realize that this convo is pointless since comprehension eludes you. have a nice day and Cheers!

India was not about robing people to deal with inflation (funny concept)
It was hastening what has been happening in kenya for example.
Remove Notes and Coins - replace them with electronic movement - for crime, corruption, money laundering - tracking and faster trade.

Nigeria aim should have been to receive all the genuine naira back and return back all new notes.

Subsaharan:


Look at what Goel said the other day, India was able to get on with it.

Today they have the most resilient economy in the world and are commissioning projects every other day.

Nigerians want to get to this level without putting in the work.

Na for here we go sleep.

rvp2018:
India was not about robing people to deal with inflation (funny concept)
It was hastening what has been happening in kenya for example.
Remove Notes and Coins - replace them with electronic movement - for crime, corruption, money laundering - tracking and faster trade.

Nigeria aim should have been to receive all the genuine naira back and return back all new notes.

READ TO COMPREHEND stopping rushing to reply me like an aimless chicken

Agreed - I cannot make head or tail of Naira mess. It total chaos. Bye

Subsaharan:


I have come to realize that this convo is pointless since comprehension eludes you. have a nice day and Cheers!

rvp2018:
You're writting lots of nonsense.
Fintech money is BACKED BY REAL money.
When you send 1,000 naira electronically to someone - you bank MUST have that 1,000 Naira in their vault - just incase one wants to withdraw cash.
Kenya pioneered mobile money - and it usage is very high - yet there is still space for cash, cheques, bank transfer.
What has changed - cash in circulation has failed to grow - but banks still need to keep hard cold cash - for every digital currency.

Unless you're rolling e-naira - a virtual currency - totally different concept

What you've done is to simply rob Nigerians their hard earned money

Even a baby should know this.

Subsaharan:


Look at what Goel said the other day, India was able to get on with it.

Today they have the most resilient economy in the world and are commissioning projects every other day.

Nigerians want to get to this level without putting in the work.

Na for here we go sleep.

U have no idea wat u re talking about boy.

My understanding is simple - you think frustrating people by limiting available cash will force them to use electronic means - and that is short term pain for a long-term gain.

Nigeria now has big problem - soon old notes and new notes will create total confusion.

Subsaharan:


READ TO COMPREHEND stopping rushing to reply me like an aimless chicken