₦airaland Forum

I am actually being rather fair because if I used the real exchange rate (aka black market rate for USD) - then things will be so bad for you guys. But let's avoid long arguments and stick with what your central banks as fixed as the exchange rate as of today.

You see you've been deciding the value of your currency and you've done a VERY VERY BAD job at it. The last time Kenya did that was in 1992...that about 30 yrs AGO!Our Kshs is freely floating and find it's value based on the market. We don't fix our currency. We are so confident about it we have let the forex market determine it. Nobody in kenya since 30yrs ago has heard about forex shortage or black market rate or having to apply for forex - you can walk into any forex or bank in kenya - and buy as many dollars or euros or nairas as you want.

So again kenya is ahead of you in forex management - our proud Kshs is freely floating - yours is pegged to the dollar by your Central Bankers and you know the pain!

You see KENYA ONCE AGAIN has been getting top marks year in year out for THE STABILITY OF KSHS. When rest of Africa was catching cold and devaluing their currency - we just sat there and let Kenya SHS shine!!! That is what you get when you have free open-market liberalized well-diversified modern economy.

Now when you talking about PP - you honestly don't think it will have an impact when comparing Kenya and Nigeria? Maybe their would be some argument if you were comparing yourself to South Africa - otherwise I bet there is very little purchasing power parity btw kenya and Nigeria.

samsobo24:
you are truly ignorant, purchasing power parity is the real value and not currency denomination, if we decide to have smaller currencies like #1,#2,#3 its possible our currency can be higher than the dollar but doesn't mean our economy is up to the US Economy

Good. It more worthwhile watching kenyan banks slowly and surely rise in Africa. You know in 2015 - there was no Kenyan bank in top 25 of Africa and possibly world top 1000...but by 2017..by rising slowly and surely...now only 4 Nigeria banks are better than 2 Kenyan banks. By 2020 - you won't know what hit you.. just like the budget when we started this thread...kenya was barely $20b but 2yrs later it overtaken Nigeria at $29B

Kenya rise is inevitable. It's economic growth so broad-based. It economy so well diversified nothing can bring it down. Not OIL like Nigeria. Or Mining like South Africa. Soon we will have a go at South Africa - give us 10-15yrs. And we won't cook out GDP to lie to ourselves.
https://i2.wp.com/www.theatlas.com/i/atlas_SyLlkcjVb.png?zoom=2&ssl=1
https://businesstech.co.za/news/wp-content/uploads/2017/07/Top-25-banks.png

obaaderemi:
Okay

one bank every decade in list of top Africa bank ROA - tough luck replicating every year like Kenya.
One skycrapper every decade in EAC - tough luck replicating it every year like Kenya.
One 40M Andela funding every decade in tech - tough luck replicating every year like Kenya.

In short you're standing on a lose ground and there is really no point in waiting for Nigeria to do anything than it's done before - which is to disappoint.

obaaderemi:
Okay, let's wait for 2018 like you suggested. Maybe by then you would have caught up. On that cheerful note, I bid you bye bye. Enjoy your day.

Beaten how? 2017 Bank ROA by Africa- top 10 - has ONE Nigeria bank and 4 or 5 Kenyan banks. The highest in Africa. The same is replicated all years preceding that. I don't know if having one Nigeria in top 10 ROA banks in Africa - make the entire Nigeria bank more profitable..than Kenya which has the bulk of the banks in Top 10 ROA.

Fact: KENYAN BANKS have some highest RETURN ON ASSETS GLOBALLY - not only in Africa - once in a awhile - one Nigeria bank can appear in the list - perhaps because of some exceptional item in their balance (maybe they sold some land or asset) - but overally Kenyan banks whichever year you pick - are MORE PROFITABLE.

The same with tech funding. 2017 (remove Andela) , 2016, 2015, go back....it Joburg and Nairobi.

Those are SOLID FACTS.

obaaderemi:
I have broken it down for him with several links but he is not open to reason. He is a persistent little puppy. I guess he is holding on just to save face. He was beaten on banking, he shifted to tech funding, got beaten again and he is trying to shift to other things. I don't know why this means so much to him. Maybe his life depends on it.

I haven't been proven wrong on this or bank ROA. Whichever year you pick - all the data indicate Kenya/Nairobi beat Nigeria/lagos in tech funding and Bank ROA - remove outliers or wait for 2018 to see if Nigeria will do it again before you talk about the chart (using a single data point) - again I am not surprised by your spirited argument devoid of soundness. That is Nigeria. The country that is trying to hang in there with Kenya. Such a shame.

obaaderemi:
The chart has a heading which is as clear as daylight but your blind pride stopped you from understanding it. By the way, is this not the same guy who was proven wrong on the banking ROA not long ago?You've been proven wrong again on value of tech funding. You better go and sit down.

So how many developer does Andela have in Lagos
https://techpoint.ng/2017/10/17/andela-recruit-senior-technical-consultants/
“Andela has a total of around 700 staff across its various offices, including its 500 developers/fellows”
https://www.forbes.com/sites/forbestreptalks/2018/01/12/andela-aims-to-solve-the-developer-shortage-with-tech-workers-from-africa/#3511012764e0
"Andela currently has 900 employees, including 300 developers working for outside firms, 300 developers in training and 300 staffers"

Andela is great - it will become even greater now that Nairobi is driving it - that is my 2 cent. It would be nice to find a comparison btw Lagos and Nairobi Andela - I have no doubt Nairobi is kicking butt.

I have no beef with Andela -I was only highlighting what in statistics they call "OUTLIER". If we were to analyze the last 5yrs of tech funding in Africa - then all over sudden Gambia - receive one funding of 1B dollars - will it make sense to say Gambia is the best to be.

Andela got 40M funding in 2017 - nothing to scream about - Kenya's M-Kopa got $80m in Dec 2017!

As for that chart - I can't make head or tail of it - what exactly are you trying to say? Value as in Return on Investment? Or this a graph where finally Lagos is on top of something - except population

obaaderemi:
It might interest you to know that Andela just appointed Semi Sulyman, a Nigerian as Vice President Global Operations. And they just opened another office in Lagos last year. By the way their staff strength in Lagos is 500. I still don't know why this Andela thing angers you so much. The chart below puts the matter to rest. I don't see Nairobi on it. Pls help me search for Nairobi.https://andela.com/blog/andela-opens-new-nigerian-hq-hint-epic/

You're too blame because you cannot accept the truth and start the tough journery of crawling out of the rat hole.
Kenya has no oil - but in my lifetime - I don't remember one single day we had to queue to buy fuel due to shortage.
Kenya has never ran out of fuel - we have had an oil refinery for a long time that functioned - until recently - but still there is and will never be shortage of refined oil.

We have extensive oil pipeline for downstream (refined) products that ensure oil is transported cheaply and never ran out.

Oil arrives mostly from Dubai & Saudi Arabia - with supply contract awarded to one oil company for 3 months - it get piped from Mombasa to all over - and never never never ran short!!

And add to fact that we export a lot of petroleum products to rest of Africa - yeah we produce no oil - but we sell oil products - refined of course. Kenol-kobil are the biggest players in East and South Africa -- selling refined oil all the way to congo and down to I think Zimbwabwe!! Some of Africa biggest downstream oil companies including Kenya's indegenous ones - that dominate east and part of south africa - all the way to Zimbwabwe.

Nigeria you're the curse of the world my friend.

shervydman:
So, I'm I to be blamed that God didn't give u oil or gold or what are u insinuating??

Well, I'm only using ur father's ball that birthed u for shooting practice, I'm using u to exploit d potency of my expletives, that's how I deal with dumb fellows like u. I'm already done with d thread.

I lost count of the number of multinational including Goolge, IBM and name them- who made Nairobi their Africa HQ - leave alone opening small hubs. IBM and a number has RESEARCH stations in Nairobi...coz they can get top brains here.

IBM Africa Research Lab - Nairobi
https://zdnet4.cbsistatic.com/hub/i/r/2014/09/18/314fc715-3efd-11e4-b6a0-d4ae52e95e57/resize/770xauto/b4280d776bf63a338f24d5b2c044d662/ibms-first-african-lab-why-big-blue-is-taking-on-the-continents-grand-challenges.jpg

When they open research labs in Lagos - like they've done in Nairobi - come and shout here.

https://www.zdnet.com/article/ibms-first-african-lab-why-big-blue-is-taking-on-the-continents-grand-challenges/

shervydman:
Lemme quickly add salt to ur injury.

Facebook to unveil tech hub in Lagos. Google to open it's first launchpad space outside US in Lagos.

https://www.google.com/amp/s/qz.com/1137474/facebook-google-mest-opening-tech-hubs-in-lagos-nigeria/amp/

If Nigeria is already feeling the heat from current generation of Kenyans - wait until the next generation come of age. Kenya has implemented an ambitious probably first in the Africa roll out of Laptops/Tablets for all public primary schools. More than 1M devices with teaching aid - projectors - to all public schools - that involved electrifying all schools.

Every of nearly 30,000 primary schools of Kenya and 5,000 secondary schools are now equipped with electricity and computers!

https://www.jkuat.ac.ke/wp-content/uploads/2016/05/Katheka-Primary-School-pupils-experience-the-feel-of-the-tablets-moments-after-their-installation.-2.jpg

You're giving up coz you don't have any sound arguments to make here. I see the last refuge of the scoundrel is to look for a gang to heap insults and hound me out of Nairaland. Those cheap insults are a reflection of what is wrong with Nigeria. You're incapable of facing your massive and embarrassing failures. I mean BILLION dollars of OIL. 200M people. What more could a country ask for? If God came back and ask Nigeria - what didn't I give you? What will you respond? At least in Kenya we can say you didn't give us Oil like Nigeria or Middle east or Gold like South Africa.

shervydman:
Lol, I've given up on d guy. In his quest to know more about Nigeria, he ended up looking like a simpleton. and that's what he gets when he decide to know more about another country than his father's cause of death; which is his unsolved mystery of how he birthed a nincompoop.

What is the credibility of this? Any report of Africa's start up that doesn't mention Nairobi is not worth the ink it was written on.

Daejoyoung:
This month saw the release of the Global Startup Ecosystem Report and Ranking 2017, produced by Startup Genome in collaboration with the Global Entrepreneurship Network. Its findings, based on conversations with entrepreneurs and data on startups, made for interesting reading. No single African country made the top 20 ranking on the list, but Lagos, Cape Town and Johannesburg warranted mention in the report. Lagos has the most valuable startup ecosystem in Africa, with the local entrepreneurship scene worth around US$2 billion. The Lagos ecosystem has the ninth highest rate of founders with an undergraduate degree at 59 per cent, while 93 per cent of them have a technical background, the third highest rate in the world. However, Lagos startups have one of the lowest rates of foreign customers, suggesting challenges exist for those 11% of companies looking to go global. Cape Town is the largest startup ecosystem on the African continent, with between 700 and 1,200 active tech startups in the city. The whole ecosystem, however, is valued at US$172 million, well below both Lagos and Johannesburg. One-third of Cape Town startup founders have gained at least two years of prior experience in a fast-growing startup, making them five per cent more experienced than the global average. The ecosystem with the highest global connectedness was Johannesburg, which also has an ecosystem value of US$1.36 billion. The city has the third highest percentage of startups globally that experienced positive corporate interest and involvement, at 67 per cent. The global average is at 51 per cent.

https://www.google.de/url?sa=t&source=web&rct=j&url=http://www.lionessesofafrica.com/the-edit-daily/2017/3/27/new-report-ranks-lagos-as-africas-most-valuable-startup-ecosystem&ved=2ahUKEwiiqaa-0LnaAhVKEVAKHdGaBw0QFjAEegQIBBAB&usg=AOvVaw3WEUYdWRX7D-O61DEcPS-V

Based on what? Andela Nairobi has about 300 developers. Andela Lagos total employees including admin staff is about 300. You guys with you WHACK education and reasoning capacity cannot drive anything tech forward...that is why Andela is running to East Africa. The best of Nigeria already immigrated to Europe and US - therefore I can imagine Andela really struggled in Lagos - and hit a jackpot in Nairobi and now is expanding to Kampala. All that money is probably mostly geared toward investing in East Africa - where it easy to find great software developers!!

Find out how many software engineers Andela has in Lagos and in Nairobi - and let us compare. And Nairobi was opened later eti giant. Giant of Jokes.

First improve your university education - the best ranked is what University of Ibandan - who struggle to make Africa top 10 in most of rankings I have seen? How can Lagos attract investment when the best talent is simply non-existent.

obaaderemi:
You see what shervydman said about you and your baseless facts. Andela Nairobi is just a fraction of Andela, so only a fraction of that money will end up in Kenya, the lion share remains in Lagos as shown by this chart below. And I think your writing is long winded.That's unnecessary.

Andela is in Nairobi - so that money will surely end up in Kenya. And again if you go by Disrupt - Nigeria minus Andela - would still be in usual 3rd position after Kenya. If you go by Partech which track not only funding to companies HQ in Africa but elsewhere but that does business in Africa - the Kenya raised far more funding than Nigeria.

The fact is Nairobi Tech scene ran circle around Lagos(Nigeria). You can split hairs the whole day, cherry-pick or nitpick but those are stubborn facts. Nairobi and Joburg are the big boys - and Lagos is struggling there- despite being a giant.

obaaderemi:
Andela alone raised 40m dollars which is more than the whole funding gotten by Kenya. Go and carve Andela out. http://weetracker.com/2018/01/02/african-startup-funding-report-2017/

Again one data point - Gold Coast 2018 - where Kenya still is in play for marathon tomorrow- while" All commonwealth medal table" - shows Kenya is better than Nigeria. Despite one big a giant of 200M people
https://en.wikipedia.org/wiki/All-time_Commonwealth_Games_medal_table
8 Kenya (KEN) 15 81 68 71 220
9 Nigeria (NGR) 13 61 66 85 212

forgiveness:
I thought Kenyan is better than Nigeria in sports but the commonwealth games says otherwise.

Facts are stubborn things - here is you big giant joke struggling against Kenya. Kenya just punch above is weight and doesn't consider you giant anything but a sick joke. Yeah South Africa is something we look upon for inspirations.

2017 Partech report on Africa Tech funding
https://www.theatlas.com/i/atlas_HJRxaq5Dz.png

Again - remove Andela funding - from last yr - the status quo is maintained as far as Africa Tech Scene goes - South Africa then Kenya.

Nigeria did overtake South Africa in terms of total funding raised, though this was primarily accounted for by Andela’s US$40 million round in October

And Andela Nairobi is probably already eating Andela Lagos cake I reckon Nairobi probably already have more Andela software engineers than Andela Lagos. Giant indeed.

obaaderemi:
You are the joke,boy. The way you grasp at straws is amazing. I have gone beyond the silly puerile back and forth here. You brought a 2016 report, I showed you a 2017 report from the same source which shamed you. Why are you angry?

You can cherry-pick whichever works best for you or Nigeria but realisticcally & for comparative purpose - and if you're interested in accuracy - we can go 3 or 5 yrs - and see the trend. For instance - remove Andela 40M usd funding in 2017- there is nothing Nigeria has on Kenya and South Africa. Therefore the most accurate comparison is to check say the last 3 or 5 yrs ...and clearly see when it come to TECH in AFRICA...we are talking 1) South Africa 2) KENYA.

Fact is a the "giant" with GDP of $500B GDP hahaha and tonnes of petrodollars is struggling against small country named Kenya.

And facts are stubborn - very stubborn things - you can shout or insult or do what Nigeria like to do - engage in ad hominem & spew choice epithet - but those will NEVER replace facts.

And the FACT is your country NIGERIA is one BIG GIANT JOKE.

obaaderemi:
I don't understand your morbid obsession with outdated facts and figures like shervydman pointed out earlier. This is a more recent report from the same Disrupt Africa you quoted earlier.


"For the first time since tracking began, the
amount of funding secured by Nigerian startups
overtook South Africa in 2017, although significantly
more South African ventures raised."
http://disrupt-africa.com/2018/01/investment-into-african-tech-startups-hit-record-high-in-2017/

A Disrupt Africa report, shows tech start-ups across Africa raised over $129 million in 2016, a 17% increase on the previous year,with Kenya attracting the second highest investment after South Africa
http://www.bbc.com/capital/story/20180115-why

Nigeria like to imagine themselves as the Tech Scene of Africa -When you probe - all you hear is Jumia? Andela? but obviously they've got nothing on Kenya. First the infrastructure for tech has been laid in kenya - Kenya long laid fiber in nearly all towns and most of the big cities.
As you can see broadband speed in kenya are amongst the world BEST. Pick any report on Africa tech scene - and kenya comes top of Nigeria - despite the 200M people in the giant. Even Jumia itself - acknowledge kenya has more smartphone than Nigeria
https://jumia.co/nl-templates-kenya/uploads/mobile-report/Jumia_MW18_White_Paper.pdf

Underlying the impressive co-operative movement in Kenya lies the Cooperative Bank of Kenya - the largest of it's kind in Africa (and third biggest bank in Kenya)- CO-OP Bank joined the top global 1000 banks in 2013 and has slowly climbed it's way - and soon will be part of top Africa 25 banks. Co-operative Bank is owned by SACCOS - kenyans rather than allow commercial banks to take their money and lend them back - start SACCOS where they remit their money and borrow against it - and those SACCOS banks in CO-OP which they jointly own.

For more than 20yrs - Kenyan indigenous banks have been growing at incredible pace - and post the highest return on assets in Africa and globally - all thanks to aggressive innovation & expansion - from time when Barclays & Standard Chartered were big banks - to now when they are nearly out of top 5 banks - lies Kenyan ingenuity and hard-work that explain why kenya is largest NON-MINERAL economy in sub-saharan Africa. A well diversified liberal open-market economy under-pinned by a well educated workforce.

Two more lessons Nigeria can learn from kenya in the financial sector -
1) Mobile Money/Commerce where kenya is the global leader - running now one of the world busiest payment systems in terms of transactions
2) Co-operative movement (SACCOS) where Kenya is leads in Africa and no 7# globally. This cooperative movement allows kenyan to beat the big banks and also to pull resources to invest jointly. The nation motto of "Harambee" or pulling together is exemplified in these co-operative movement, groups (micro-finance is big in kenya) and in fundraising - where people contribute to build schools, churches and etc on regular basis.

Kenya has the best Cooperative Movement in Africa.
The Cooperative Movement in Kenya is ranked in first position in Africa and seventh globally with over 15 000 registered cooperative societies according to the International Cooperative Alliance.

Classical example of what's wrong with Nigeria.

shervydman:
rvp2017, u're d incorrigible dullard but ur ignorant personality won't make u to notice it. U're a wasted semen and a colosal disgrace to every intellectually inclined mind. Making u learn things will be a futile effort and edifying u is non-rewarding, reason ur teacher asked u to skip classes just to relieve his/her mental stress.

ROA is directly proportional to investment. It only shows that ur banks are just investing in d sector ( which is a good thing ). Most of ur banks are just stepping up their game. Nigeria, South Africa and Egypt banks are not much on d list cos majority of our banks have stepped up their game long before ur father's fecundating fluid that birthed u hits ur mother's ovum. Even d ones on d list are not Nigeria's top 15 banks, Ur top 4 banks competes with our lowest, yet got beaten like a market thief.

When I told u budgets aren't converted to $ for comparison, I thought I was conversing with a literate but u spin around to prove that ur father prioritized his hunting games than ur education n marital vow. I won't waste my precious time n tutelage on u to redeem ur father's irresponsibility.

U can check for comparison of both countries budget below.
https://tradingeconomics.com/kenya/indicators (Kenya)
https://tradingeconomics.com/nigeria/indicators (Nigeria).

Just check "govt budget" of both countries to cure ur ignoramus psyche.

Only Nigerians are impressed by EAC - coz you're so used to mediocrity. Look at what Luanda has done in 10yrs with Oil - they have built more than 50 skyscrappers and turn around their country. Nairobi has more skcrappers than Lagos+EKO combined...and even more planned!

Danielnino00:
EAC already hosted some great events since.... eg: Copa Lagos, Africa beach soccer Championship,lagos marathon, beach polo, Lagos Fashion Week...

As Nigeria's Eko City build one small Skycrapper per decade - Nairobi is building more than 10 every year - and hundreds more on the pipeline.
Now Under construction... Another decade and Joburg will not be able to compete with Nairobi.
Pinnacle complex (70 flr,45 flr with a supertall) - Africa first supertall at 300m!
https://venasnews.co.ke/wp-content/uploads/2017/06/pinnacle.jpg
Montave complex(40 flr,35 flr)
https://c3.staticflickr.com/9/8573/28671982042_6110befdd8_b.jpg
Avic complex(47 flr,35 flr,25-28 flrs) - 6 towers
https://c5.staticflickr.com/6/5449/30380903372_86e77219a4_b.jpg
[img]http://image.ibb.co/ei6Pvx/ImgBB_12.jpg[/img]
One Africa Place
https://scontent-iad3-1.xx.fbcdn.net/v/t31.0-8/28238899_887347851437940_1283156928925184616_o.jpg?oh=6c2b94399dcffada6cb78983a472f3e6&oe=5B18EDE8
Plus many more - Grade A office space and residential spaces
http://www.skyscrapercity.com/showthread.php?t=1368695&page=80

You're incorrigible - how would you compare if we didn't use USD? What is a Naira trillion - definitely not a KSHS trillion -1kshs is worth 3.57 Naira as of today.

Your federal budget is equivalent to 28B USD (Dec 2017) - Kenya national budget was 26B (June 2017) and is set to grow to 29B in June 2018.

Your state budget is equivalent to 25BUSD (9 trillion Naira) - but 6 trillion is from the federal allocation - so the extra that state collect as their own revenue is 3 trillion Naira. - 8 B usd.

So give and take - total Nigeria budget is 28(federal)+8B=36B USD - for the GIANT.

Kenya 47 devolved counties - collect their own revenue (they are not federal - so mostly fees and rates) - total of about 1B USD - add that to kenya 29B - and you have 30B.

Nigeria (federal+state);36B USD. Kenya(national+devolved) 30B. The GIANT indeeed.

And for reference check south africa budget - federal and provincial - and just know NIGERIA is not a giant of anything...serious.

shervydman:
Here's another dilusional rant that 254Tobby called "fact". Firstly, he said lekki deep sea port is a mere $500m project, later; he called it a $1.5b project. Which do u want us to believe??

Secondly, he said Nigeria has a $28b budget and it has to be shared by states, how do I make him understand that budgets are not converted to $ and Nigerian states have their independent budget?

I'm done with this thread but just wanna show the reason I called rvp2017 an ignorant.

I posted what came top on google - and in your list - you can see kenyan banks dominated - and that in 2017 when interest rate caps were introduced in kenya. I mean you can pick any year - and Kenyan banks ROA will dominate that list. The same with growth rate - Equity, KCB and Coop banks are slowly but steadily growing into large African banks - and they were not forced to merge like Nigeria banks. This is organic growth fueled by innovation and creativity.

Overal Kenyans enjoy some best financial inclusion -with access to banking trending towards 100% - while Nigeria are probably at 50% with many nigerians still unbanked.

shervydman:
This is one of ur baseless points..... posting a 2012/2013 table on ROA.

here's 2017 list below.

Yeah I got a smart Lego city with at least 40 % of landmass for greeneries.Where is the 40% of greeneries in that concrete jungle?. You're incorrigible idiot and that probably explain why Nigeria is the butt of jokes in planet earth.
go

samsobo24:
You are truly ignorant, if not you won't talk about the EAC,so you don't know that a smart city should have at least 40 percentage of its landmass for greeneries

Kenya financial & intermediation is on another level - just like the retail sector - Nigeria cannot even come close to it. I mean without service sector doing so well - kenya would be nothing - we have no minerals like these banana republics of Africa - and only have 1/3 of our land arable.

If you check the list by ROA -half of them are from kenya - if Ethiopia were to ever open their financial sector and allow kenyan banks to go there - I think they'll beat Nigeria in Capitlization too - they are not far off - Equity and KCB are definitely near there - and nearly all kenyan banks have branches in East Africa and few venturing out to South and Central Africa.

https://www.thebanker.com/var/ezflow_site/storage/images/media/images/top-african-banks2/5809051-1-eng-GB/Top-African-Banks.jpg

kikuyu1:
That's the problem with many Naijjans-do you understand the significance of that ROA? Do you know even Euro mega banks would kill for half of that figure?

And while at it - building new cities to escape current problems in old cities - Eko City that is - can you please add some green to that ugly concrete jungle. This especially as they wait for another skyscrapper to be constructed - trees and grass could be growing. Nairobi is magnet because it has 2) huge forests and of course the only national park in city in the world where animals roam freely (not a zoo!) in huge plain and lots of greenery. That make people want to visit or live in Nairobi
https://farm2.staticflickr.com/1287/533497809_21063c1ee9_b.jpg
https://farm8.staticflickr.com/7509/15579192439_772d5c72c5_h.jpg
https://farm8.staticflickr.com/7494/15579870727_1fcf91e49a_h.jpg
https://farm2.staticflickr.com/1576/24881634045_7b622154a4_k.jpg
Nairobi street level - lots of trees
https://farm8.staticflickr.com/7613/16895099452_61809c7cb9_b.jpg
https://static.flickr.com/28/43091864_ac556307d8_b.jpg
https://scontent-iad3-1.cdninstagram.com/t51.2885-15/e35/13092233_295043920827107_791932013_n.jpg
https://scontent-iad3-1.cdninstagram.com/t51.2885-15/e35/13130012_581475805349645_1447822436_n.jpg
https://scontent-iad3-1.cdninstagram.com/t51.2885-15/e35/13150835_752399618236550_1787914543_n.jpg
And if at the coast - Mombasa can teach you some lessons
https://pbs.twimg.com/media/Cn4GUiEW8AAanzY.jpg

http://www./f38/banks-made-up-25-existing-banks-nigeria-2584/. Nigeria mega-banks were forced to merge by Nigeria's CBK in reforms that started in 2005. They merge 3-5 banks to make the current banks

shervydman:
Lol, one of d most ignorant person I've ever met on this forum.

Maybe you need to stop building new cities from the scratch and fix lagos. You see you created Abuja with lots of billion dollars and didn't help much - you are now trying to create centenary city to fix Abuja. Fix Lagos and let it grow organically! Otherwise trying to create a new Dubai with one Skyscraper every decade is waste of money and time.

Rather than creating a new lego city - fix LAGOS - fix roads, sewage, water, electricity - and Lagos can grow organically! Dubai is not easy to replicate.

Danielnino00:
How can u see any difference when u are blinded by hate and envy? EAC is coming up real fast... the project started around 2009 with dredging of the ocean and now three towers have bee completed.. Azruri pennisula is half way completed.. the EAC mall is under construction... Over 30 bridges and roads have been completed... the Great Wall of Lagos around the city is almost completed I believe... The city already has running water..... ;..
U think its easy building a city from scratch?

Sit down there and be hating. ...
And just like I said earlier, ur country is of no relevance to our existence....; D

They were many small Nigeria banks - and they were collapsing - so they were forced to merge. Nigeria didn't and haven't created mega-banks organically like Kenya has. Take for example Equity Bank in Kenya - in 2005 - it was nothing - very small SACCO - and now it's one of Africa most profitable bank - with branches all over East Africa including Congo. Equity Bank is studied in Harvard?

While you talk about forced big banks - that don't meet all nigerian bankings needs - we are talking the most profitable banks - with highest return on assest in Africa - and Kenya access to banking is nearing to 100%.

The Financial Times’ (FT) latest listing of the world’s Top 1,000 banks shows that Equity Bank is Africa’s lender with the highest return on assets — an indicator of profitability that is determined by dividing the net income by total average assets — while Kenya Commercial Bank (KCB) is third.

samsobo24:
Nigerian are banks are not less than 22

When quick teller is already ruling the Continent