₦airaland Forum

AkoniMoipei:
Lets dig deeper.

These "enough brains" initially caused Ghana's inflation to skyrocket to a 22-year high of 54.1% in late 2022. A dramatic drop looks impressive on paper, but it was a correction from a severe, self-inflicted economic precipice, not a "WOW" factor. The recovery was triggered by a massive $3 billion IMF bailout. The stabilization was heavily engineered, monitored, and funded by external international institutions, not just domestic strategy. Ghana had to halt payments on most of its external debt and aggressively restructure domestic debt, which wiped out the savings of local bondholders and severely damaged trust in the financial sector. High interest rates and austerity measures used to curb inflation have squeezed local businesses, raised the cost of living, and diminished the purchasing power of ordinary Ghanaians.

True recovery requires long-term fiscal discipline. If structural vulnerabilities like high government spending and over-reliance on primary commodities are not fixed, Ghana's perpetual cycle of inflation and bailouts will repeat.

Let's see if the purchasing power of Ghanaians were diminished...the Ghanaian cedi Appreciated by 50% in a year and there by increasing the purchasing power of Ghanaians.

Interest rates fell from 25% and 30% to 10% there by giving businesses more access to cheap financing. And inflation rate at 5%

All the is driving by pure production that far exceeds every target any institution had thought off.

Debt restructuring is only a small part of what has been achieved. With debt to GDP at 45% and debt financing at 20% of revenue.

Like I have said multiple times Ghana needed non of those IMF things. Ghana can recover from any mess it put itself on when it wants to.

Just30:
Let's see if the purchasing power of Ghanaians were diminished...the Ghanaian cedi Appreciated by 50% in a year and there by increasing the purchasing power of Ghanaians.

Interest rates fell from 25% and 30% to 10% there by giving businesses more access to cheap financing. And inflation rate at 5%

All the is driving by pure production that far exceeds every target any institution had thought off.

Debt restructuring is only a small part of what has been achieved. With debt to GDP at 45% and debt financing at 20% of revenue.

Like I have said multiple times Ghana needed non of those IMF things. Ghana can recover from any mess it put itself on when it wants to.

Please what is the reason behind the demolition at Laboma beach ⛱️?

I was there two Sundays ago,and i really enjoyed the vibe there. Noticed several construction going on there,only to see on the news yesterday that it was demolished.

popizaino:
Please what is the reason behind the demolition at Laboma beach ⛱️?

I was there two Sundays ago,and i really enjoyed the vibe there. Noticed several construction going on there,only to see on the news yesterday that it was demolished.

If you saw the news, then you already know the reason.

They had filled out part of the lagoon reserve to build on

Just30:
Let's see if the purchasing power of Ghanaians were diminished...the Ghanaian cedi Appreciated by 50% in a year and there by increasing the purchasing power of Ghanaians.

Interest rates fell from 25% and 30% to 10% there by giving businesses more access to cheap financing. And inflation rate at 5%

All the is driving by pure production that far exceeds every target any institution had thought off.

Debt restructuring is only a small part of what has been achieved. With debt to GDP at 45% and debt financing at 20% of revenue.

Like I have said multiple times Ghana needed non of those IMF things. Ghana can recover from any mess it put itself on when it wants to.

Its true Ghana didn't need those IMF bailouts but its also true Ghanaians didnt need to cause inflation that obscenely high. A soaring inflation index should not be confused with a rising approval rating by the economic honchos in Ghana. When the govt tries to entice you with nice expensive projects that rack up debt so that you vote them back you should protest, and stop overreliance on natural resources and diversify.

Nairobi has been chosen to host the World Athletics Championships in 2029, becoming the first city in Africa to achieve that. Nairobi beat London, Rome, and Munich. Munich got the 2031 edition. This will come hot on the heals of hosting AFCON in 2027.

Compelling insights that convinced World Athletics to award Nairobi the World Championships 2029:
▪️Kenyan fans ranked fourth highest on World Athlteics's social media channels
▪️Kenya is the single most interested market in Athletics with 68% of Kenyans rating their interest against the 38% global average.
▪️Kenya has highest net promoters score of any market.
▪️Athletics is the second most followed sport in Kenya
▪️Availability of the necessary sporting/accomodation infrastructure

We are talking 100,000 sports tourists visiting Nairobi in a period of 2 weeks.

AkoniMoipei:
Its true Ghana didn't need those IMF bailouts but its also true Ghanaians didnt need to cause inflation that obscenely high. A soaring inflation index should not be confused with a rising approval rating by the economic honchos in Ghana. When the govt tries to entice you with nice expensive projects that rack up debt so that you vote them back you should protest, and stop overreliance on natural resources and diversify.

Too bad we have a bigger economy that so much so that an over performance of a few sectors makes you think the Ghanaian economy is overly reliant on natural resources.

The Ghanaian economy is more diversified than yours

Just30:
Too bad we have a bigger economy that so much so that an over performance of a few sectors makes you think the Ghanaian economy is overly reliant on natural resources.

The Ghanaian economy is more diversified than yours

No, Kenya's economy is more diversified than Ghana's.

Kenya's Economic Makeup
Services and Tech: Kenya has a massive service sector, acting as East Africa's financial, transportation, and digital hub (often called the "Silicon Savannah".

Agriculture: A wide variety of agricultural exports—including tea, coffee, horticulture, and floriculture—keep its farming sector broad.

Manufacturing: It has a larger and more varied domestic manufacturing and consumer goods base compared to its peers in the region.

Ghana's Economic Makeup
Commodity Dependence: Ghana's growth relies heavily on natural resources, specifically gold, cocoa, and crude oil.

Extractive Focus: While Ghana has a powerful mining and energy export sector, fluctuations in global commodity prices leave its revenues more vulnerable to external shocks than Kenya’s multi-pillared economy.

AkoniMoipei:
No, Kenya's economy is more diversified than Ghana's.

Kenya's Economic Makeup
Services and Tech: Kenya has a massive service sector, acting as East Africa's financial, transportation, and digital hub (often called the "Silicon Savannah".

Agriculture: A wide variety of agricultural exports—including tea, coffee, horticulture, and floriculture—keep its farming sector broad.

Manufacturing: It has a larger and more varied domestic manufacturing and consumer goods base compared to its peers in the region.

Ghana's Economic Makeup
Commodity Dependence: Ghana's growth relies heavily on natural resources, specifically gold, cocoa, and crude oil.

Extractive Focus: While Ghana has a powerful mining and energy export sector, fluctuations in global commodity prices leave its revenues more vulnerable to external shocks than Kenya’s multi-pillared economy.

Ghana's economy relies heavily on trade and service provision...commodity contributes little to it.

The fact that we have a lot more other sectors should help you understand how much more diversified the Ghanaian economy is.

I just showed you the entire money flow in the Kenyan economy as captured by your central bank.

If the Kenyan economy was that diversified, it'll show in the broad money supply

Just30:
Ghana's economy relies heavily on trade and service provision...commodity contributes little to it.

The fact that we have a lot more other sectors should help you understand how much more diversified the Ghanaian economy is.

I just showed you the entire money flow in the Kenyan economy as captured by your central bank.

If the Kenyan economy was that diversified, it'll show in the broad money supply

You showed me? I didnt see. In terms of total money circulating in the economy, not limited to mobile money, its not even close. We have bigger banks that deal with the majority of heavy transactions, while mobile money is used for smaller transactions. Kenya has a higher overall financial inclusivity rate and a more established, deeper penetration of formal financial accounts than Ghana. Both nations are global models for digital financial inclusion, but Kenya consistently holds the edge.

1. Ghana Relies on a "Big Three" Commodity Basket
Ghana’s macroeconomic health is highly tethered to three primary, volatile commodities: Gold, Crude Oil, and Cocoa. Together, these three resources typically make up over 80% of Ghana's total export revenues. When global gold or oil prices plummet, or when climate issues strike cocoa production, the entire Ghanaian economy experiences immediate currency shocks and fiscal distress.

2. Kenya Lacks Dominant Extractive Resources
Kenya is notoriously "resource-poor" relative to Ghana. It has no major oil exports or massive gold fields. Because it could not rely on digging wealth out of the ground, Kenya was forced to build an economy centered on services, trade, commerce, and highly varied agriculture.

3. Granular Export Variety
If you look at what Kenya sells to the world, it is heavily fragmented:
Horticulture and Tea: Kenya is a top global exporter of black tea and fresh-cut flowers.
Tourism: A massive foreign exchange earner that supports a sprawling hospitality and aviation ecosystem.
No Single Monopoly: No single product commands 40%+ of Kenya’s export landscape the way gold or oil dominate Ghana’s.

4. The Depth of Kenya's Digital and Financial Services
While Ghana has a robust services sector, Kenya's services sector is deeply integrated with tech and regional finance. Nairobi acts as a dominant logistical, corporate, and financial hub for the entire East African region. Kenya's services sector generates revenue from software development, regional banking, and transit logistics—activities that are structurally insulated from mining boom-and-bust cycles.

While Ghana has done an exceptional job using interoperable mobile wallets to aggressively reduce its unbanked population in a short time, Kenya remains Africa's financial inclusion trailblazer. Kenya has a lower exclusion rate and a population that is more deeply connected to formal commercial banks.

AkoniMoipei:
You showed me? I didnt see. In terms of total money circulating in the economy, not limited to mobile money, its not even close. We have bigger banks that deal with the majority of heavy transactions, while mobile money is used for smaller transactions. Kenya has a higher overall financial inclusivity rate and a more established, deeper penetration of formal financial accounts than Ghana. Both nations are global models for digital financial inclusion, but Kenya consistently holds the edge.

1. Ghana Relies on a "Big Three" Commodity Basket
Ghana’s macroeconomic health is highly tethered to three primary, volatile commodities: Gold, Crude Oil, and Cocoa. Together, these three resources typically make up over 80% of Ghana's total export revenues. When global gold or oil prices plummet, or when climate issues strike cocoa production, the entire Ghanaian economy experiences immediate currency shocks and fiscal distress.

2. Kenya Lacks Dominant Extractive Resources
Kenya is notoriously "resource-poor" relative to Ghana. It has no major oil exports or massive gold fields. Because it could not rely on digging wealth out of the ground, Kenya was forced to build an economy centered on services, trade, commerce, and highly varied agriculture.

3. Granular Export Variety
If you look at what Kenya sells to the world, it is heavily fragmented:
Horticulture and Tea: Kenya is a top global exporter of black tea and fresh-cut flowers.
Tourism: A massive foreign exchange earner that supports a sprawling hospitality and aviation ecosystem.
No Single Monopoly: No single product commands 40%+ of Kenya’s export landscape the way gold or oil dominate Ghana’s.

4. The Depth of Kenya's Digital and Financial Services
While Ghana has a robust services sector, Kenya's services sector is deeply integrated with tech and regional finance. Nairobi acts as a dominant logistical, corporate, and financial hub for the entire East African region. Kenya's services sector generates revenue from software development, regional banking, and transit logistics—activities that are structurally insulated from mining boom-and-bust cycles.

While Ghana has done an exceptional job using interoperable mobile wallets to aggressively reduce its unbanked population in a short time, Kenya remains Africa's financial inclusion trailblazer. Kenya has a lower exclusion rate and a population that is more deeply connected to formal commercial banks.

The entire money supply in the Kenyan economy in the year under review was 600 billion dollars compare to 800 billion dollars for Ghana.

That shows an economy with a far lesser reach.

Let me repost it for you

Bank payment systems across various countries

Ghana mobile money transaction value - 368 billion USD
Transaction across bank payment system - 843.7 billion USD

Kenya MPesa - 322 billion USD
Transaction across bank payment systems- 690 billion USD

Nigeria mobile payment - 236 billion USD
Transaction across bank payment system - 1.3 Trillion USD


Kenya has a smaller economy....

AkoniMoipei:
No, Kenya's economy is more diversified than Ghana's.

Kenya's Economic Makeup
Services and Tech: Kenya has a massive service sector, acting as East Africa's financial, transportation, and digital hub (often called the "Silicon Savannah".

Agriculture: A wide variety of agricultural exports—including tea, coffee, horticulture, and floriculture—keep its farming sector broad.

Manufacturing: It has a larger and more varied domestic manufacturing and consumer goods base compared to its peers in the region.

Ghana's Economic Makeup
Commodity Dependence: Ghana's growth relies heavily on natural resources, specifically gold, cocoa, and crude oil.

Extractive Focus: While Ghana has a powerful mining and energy export sector, fluctuations in global commodity prices leave its revenues more vulnerable to external shocks than Kenya’s multi-pillared economy.

you don't have a broader agric sector than Ghana.

Your manufacturing sector is a bit tiny compared to Ghana's and also generates more from the tourism sector than kenya

https://www.youtube.com/watch?v=WVgD4TVfLys?si=cox_hKSfs-791KzL

Lovely

So after Nigerians suffered day and night becuz the government restricted access to foreign currency in order to give dangote the available ones for his refinery and forcing Nigerians to buy more expensive in the black market, dangote is going to go ahead and use the dollars his refinery is generating to build a refinery in Kenya??
I hate this pan African rubbish. This kenyas have been mocking and insulting us.
Chai, money that could have been used for steel!!

PROVERBZ:
So after Nigerians suffered day and night becuz the government restricted access to foreign currency in order to give dangote the available ones for his refinery and forcing Nigerians to buy more expensive in the black market, dangote is going to go ahead and use the dollars his refinery is generating to build a refinery in Kenya??
I hate this pan African rubbish. This kenyas have been mocking and insulting us.
Chai, money that could have been used for steel!!

70 % of the refinery will be financed by debt, not by dollars from the Lagos plant. There must be something deeper causing dollar shortages in Nigeria. Something more structural. For us it was almost bemusing he was willing to invest that kind of money/refinery in a nation that barely has any oil. I did some digging and realized he faced severe frustration from the Nigerian leadership when trying to build the Lagos refinery and later when he tried to get crude oil for the refinery. He apparently still imports raw crude yet Nigeria has it in plenty! He was also seriously frustrated when he tried to build a steel factory. You cant really blame him for taking his hard earned money elsewhere, especially where he is not going to be frustrated. Dangote was planning to build the refinery in Tanga, Tanzania but received the typical cold reception we have always warned you about. Kenyans showed 100% goodwill, complete with land in a Special Economic Zone, a new deep water seaport, ready labor, and strategic access to the South Sudan-Ethiopia-Transport corridor for export and import of crude and refined products/byproducts.

Construction begins six days from now. The site has been selected, soil tests done, and design and engineering works complete. By its completion or soon thereafter we intend to have linked the oil fields in South Sudan and Turkana through pipelines to Lamu. With the addition of Africa's second largest refinery, Lamu will be a cargo transshipment and energy hub. The Lamu Oil Refinery will include a Petrochemical Complex (plastics, resins, chemical fertilizers, detergents, synthetic rubber, dyes, pharmaceuticals, and synthetic fibers), capturing the entire Eastern African seaboard and inland countries.

Kenya's Lamu Port (where Dangote's refinery will be constructed) is experiencing an unprecedented surge in growth, transforming from a once-quiet infrastructure project into a highly active regional maritime hub.

In 2025, cargo throughput at Lamu Port skyrocketed to 799,161 metric tonnes, up from just 74,380 tonnes in 2024—a staggering 974% year-over-year increase. By mid-2026, cumulative cargo handled surpassed 1 million metric tonnes. The LAPSSET Corridor Development Authority reported that in just the first six months of 2026, the port handled 118,454 TEUs, obliterating its entire full-year 2025 benchmark of 55,687 TEUs by 112%. The Kenya Ports Authority noted that vessel traffic surged past 120 ship calls by mid-2026, with global lines regularly deploying massive container ships and mega car carriers to the hub. With a natural depth of up to 18 meters, Lamu can seamlessly accommodate massive Panamax and Post-Panamax vessels that cannot enter shallower regional ports without extensive dredging.

The industrial ecosystem taking shape around the Lamu Special Economic Zone (SEZ)—anchored by the soon-to-start $20 billion Dangote Oil Refinery and a 1,000MW liquefied natural gas (LNG) power plant—is part of a massive master plan.

Directly linked to the 700,000-barrel-per-day oil refinery, a massive petrochemical complex will be built. This complex will utilize the raw byproducts of the refining process to manufacture secondary industrial goods, creating a localized supply chain for plastics, polymers, and synthetic resins, Agricultural fertilizers, Industrial chemicals and pharmaceuticals (reducing the region's heavy reliance on chemical imports), Advanced Logistics and Free Port Warehousing, Energy and Gas Logistics Infrastructure, and dedicated manufacturing, processing, and export-oriented Hubs. Extensive crude and refined product storage tanks will also be built to function as the strategic fuel reserves for Kenya and the region.

More Lamu Port

AkoniMoipei:
70 % of the refinery will be financed by debt, not by dollars from the Lagos plant. There must be something deeper causing dollar shortages in Nigeria. Something more structural. For us it was almost bemusing he was willing to invest that kind of money/refinery in a nation that barely has any oil. I did some digging and realized he faced severe frustration from the Nigerian leadership when trying to build the Lagos refinery and later when he tried to get crude oil for the refinery. He apparently still imports raw crude yet Nigeria has it in plenty! He was also seriously frustrated when he tried to build a steel factory. You cant really blame him for taking his hard earned money elsewhere, especially where he is not going to be frustrated. Dangote was planning to build the refinery in Tanga, Tanzania but received the typical cold reception we have always warned you about. Kenyans showed 100% goodwill, complete with land in a Special Economic Zone, a new deep water seaport, ready labor, and strategic access to the South Sudan-Ethiopia-Transport corridor for export and import of crude and refined products/byproducts.

Construction begins six days from now. The site has been selected, soil tests done, and design and engineering works complete. By its completion or soon thereafter we intend to have linked the oil fields in South Sudan and Turkana through pipelines to Lamu. With the addition of Africa's second largest refinery, Lamu will be a cargo transshipment and energy hub. The Lamu Oil Refinery will include a Petrochemical Complex (plastics, resins, chemical fertilizers, detergents, synthetic rubber, dyes, pharmaceuticals, and synthetic fibers), capturing the entire Eastern African seaboard and inland countries.

I think you are mixing up a few things here:

First, Nigeria does not have so much oil like you think. Nigeria produces 1.5 million bpd of oil. Dangote requires almost half of that and not all of that belongs to the Nigerian Government. The Nigerian Government historically only controlled about 50% of that. As at the time you said Dangote was allegedly being frustrated (2023/2024), Nigeria produced an average of 1.3 million bpd, which means Government fully controlled 650k bpd. Dangote at full capacity was also 650k bpd at the time making it unreasonable for Dangote to rely on Nigeria for most of his crude.

Also, Dangote did not abandon Nigeria, he is only expanding his market because he is seeing the entire Africa as a greenfield for his conglomerate. If he is abandoning Nigeria, he wouldn’t be expanding his plant to 1.4 million bpd and building a large sea port in Ogun state and a large detergent factory in Lekki.

Nairobi is a level above the rest.



https://www.youtube.com/watch?v=cRJtT_xk1pI?si=MjwRR_nhwv6BmX_i

I just love Accra

https://www.youtube.com/watch?v=bJH8OYr2hSQ?si=e1keKxeL9_FTMZqS

Accra new Garden city with 1.3 billion dollars investment in 11 towers

https://www.youtube.com/watch?v=T1MJixiHeaQ?si=OuWwuYo2mjrrMK4q

Sentoe oil refinery receives oil delivery from Ghana's Jubilee oil field for it 100,000 barrel per day refinery


https://www.youtube.com/watch?v=JIFUSbxIF_U?si=pgdEM0EB_ywdA3Qj

Tema oil refinery receives one million barrels (1 million) of crude oil for processing from Ghana's Sankofa oil field.

https://www.youtube.com/watch?v=39ABhfn3oPg?si=66NJz4KV7eycheiJ

4 billion dollars 6 lane 200km Accra to Kumasi expressway construction begins. It will have 56 overpass and underpasses and 54 bridges and is Fully financed by govt

https://www.youtube.com/watch?v=WsnGWRvLAL8?si=OF7-jfZkwbxMbnvx


https://www.youtube.com/watch?v=Damqe8wqYvs?si=duoMByqk20WIhNnc


https://www.youtube.com/watch?v=CXJQNr7f7o4?si=rqA3AM4XTYvLMvPd

Kasoa to Cape Coast to Takoradi to Elubo border road construction with various phases at final stages of construction

Mahama seems to be working with 20 billion dollars of domestic funding

https://www.youtube.com/watch?v=vGNwoJAnXKQ?si=1SnorRre38eZU0ub

Finally the Lagos Airport is seeing reconstruction. Last year when I used it, the whole place was hot and rusty. Absolutely disorganized


https://www.youtube.com/watch?v=XoXEd5-a8GA?si=cJenyg67yR63xrij

PROVERBZ:
So after Nigerians suffered day and night becuz the government restricted access to foreign currency in order to give dangote the available ones for his refinery and forcing Nigerians to buy more expensive in the black market, dangote is going to go ahead and use the dollars his refinery is generating to build a refinery in Kenya??
I hate this pan African rubbish. This kenyas have been mocking and insulting us.
Chai, money that could have been used for steel!!

Do you have a source for your news? I am sorry but it sounds like fake news. It's un African to bismirch the name and goodwill of such a Titan as Dangote. This man should be sainted for his foresight and business acumen. Anything else is frankly unacceptable.

gallivant:
Do you have a source for your news? I am sorry but it sounds like fake news. It's un African to bismirch the name and goodwill of such a Titan as Dangote. This man should be sainted for his foresight and business acumen. Anything else is frankly unacceptable.

Today you want to Saint dangote ? 😂🤣

He's about to create a monopoly in your fuel supply

Just30:
Today you want to Saint dangote ? 😂🤣

😁😁

Dude is a genius..

He's about to create a monopoly in your fuel supply

Fuel supply maybe, fuel distribution it will be an uphill task against Kenyan oil barons and cartels. Personally, I welcome more competition in that sector. Some people have gotten filthy rich on the expense of Kenyans since the libeliration of the energy sector.

gallivant:
😁😁

Dude is a genius..



Fuel supply maybe, fuel distribution it will be an uphill task against Kenyan oil barons and cartels. Personally, I welcome more competition in that sector. Some people have gotten filthy rich on the expense of Kenyans since the libeliration of the energy sector.

🤣😂

Africa’s busiest container ports, 2025:

1. 🇲🇦 Tanger Med: 11.1 million TEU
2. 🇪🇬 Port Said (SCCT): 5.57 million TEU
3. 🇿🇦 Durban: 2.73 million TEU
4. 🇹🇬 Lomé: 2.4 million TEU
5. 🇬🇭 Tema: 2.3 million TEU
6. 🇪🇬 Alexandria: 2.2 million TEU
7. 🇰🇪 Mombasa: 2.11 million TEU