₦airaland Forum

But 3/4 of Nairobi is great - 1/4 more decent than anything in Nigeria - just 2.5% are slums.
All areas from Roysambu - in your Nigeria apartment of 10 people - just drive from there- Thome to Garden Estate to Balozi to Ridgeways to Runda to Muthaiga to Gigiri to Rossyln to Nyari to Kyuna to Kitusuru to Lower Kabete to Loshero to Msongari to High riidge to Parklands to Chiromo to River side to Kileleleshwa to Lavington to Spring valley to Kilimani to Adams Arcade to Ngong road to Ngumo to Nairobi West to Madaraka to South B to South C to Langata to expansive Karen

That more that 3/4 of Nairobi land mass consisting of prime property. That is Nairobi West, North and South.

We move to Nairobi Eastland - they are still better than many of your best areas.Nigeria will struggle to look like Zimmerman to Kahawa West to Kasarani to Umojas to Kayoles to Embakasi to the Pipelines to Eastleigh to Buru buru to Makadaras - they are a mess but still better than many Nigeria places.

Yes Nairobi has epic slums in Kibra, Kawangware, Kangemi, Mathare Valley, Soweto, Mukuru slum complex. Those are again 2.5 percent of Nairobi and apart from Kibra that is large visible from Langata - the rest are hidden in river valleys. And they are source of cheap labour for Nairobi west

68816419:
Yoi need to rephrase your sentences like this “ Apart from Nairobi CBD plus the tiny developed parts of Westland and upperhill....”

Nairobi has already overtaken Capetown in most ranking I have seen lately. I dont have my own ranking but out there - Nairobi is world 11st most ecological city, 11th most preferred city by experts, 4th most dynamic city, name it.

ProblemChild1:
Stay away from Colorado this man. It's not good for your health. Your Nairobi is not even at the level of Pretoria or Durban let alone Johannesburg and even Cape Town.

See the Cape Town you're dreaming to catch up with. Maybe in the next 50 years to come.



https://www.youtube.com/watch?v=j0m0ydpffPw

Did you kill Mombasa which way better than that smog filled polluted dirty city of PH

ProblemChild1:
Apart from Nairobi. No place in Kenya would ever come close to Port Harcourt. And soon, Port Harcourt will soon catch up with Nairobi with the current development in that City. Dey play.


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



https://www.youtube.com/watch?v=4y-dsKjBtlY

Who can risk their live crossing Ambazonia - with rebels there.

68816419:
There is just one border crossing between Cameroon and Nigeria, according to the crazy person. He lied.

https://www.youtube.com/watch?v=4Npsoi1MHcM

He was from Europe - cant quite recall which country - was going through with his bike. He passed through Benin to Lagos - the amount of police road blocks I saw in that video was crazy - look like every 2km - police or immigration have roadblocks. Then very old cars. He didnt stay in Lagos a lot. Then drove to I think Calabar through Port Harcourt to Cameroon.

I really like Ambazonia. Seem Cameroon is fairly decent country if you ask me...despite the civil war.

GeneralDae:
The white man you saw (from Newzealand I guess) didn't go to Ikeja but Makoko and Oshodi.

Maybe you have another Nairobi. Otherwise the NAIROBI we know is now overtaking Joburg and Capetown. Not port whatever.
I have watched couple of drone of Port Harcourt - it a huge mess.

68816419:
With malls, schools,Estates hospitals, Stadiums and many other amenities, these are more like mini cities than streets. Consider the old and new GRA example; they span an area larger than the entire Nirobi CBD.

Sound like youre naming streets in one estate. Last I heard about it - was pollution problem with smog. I also watched video of white dude passing there - and the amount of garbage - and bad roads he found - was truly shocking.

68816419:
Man, I think you're losing it. The fastest-growing metropolis in all of Africa is PH, and the state as a whole has recently seen significant infrastructure development. To compare developed sections of PH with Nairobi is much more depressing. No city in Africa spends as much on infrastructure as Porthacourt, where the state has built over ten enormous flyovers, innumerable highways, hospitals, and schools without assistance from the federal government.
Without Further-a-do, below is our list of best places to live in port harcourt;
New G.R.A
Old GRA
Agip
Golf Estate
Cocaine Estate
Mgbuoba
RoyalVilla Estate
Rumuibekwe
Peter Odili Axis
Eliozu
Sars Road
Harmony Estate
Woji
Ada George ......
Residential areas
1- Old GRA

https://www.youtube.com/watch?v=pl186UofKa0
2 - New GRA

https://www.youtube.com/watch?v=bON7ftr8Xf8

3 -Peter Odili

https://www.youtube.com/watch?v=kleYfEUWc88
Business Districts

https://www.youtube.com/watch?v=4y-dsKjBtlY

Ethiopia, Nigeria and soon Egypt - you got fix this problem.

WB President @DavidMalpassWBG on #Ethiopia, "they have an official exchange rate which is available to the few and a parallel market exchange rate that is very expensive for the rest within the country and it has not worked very well..We will again be tackling that in the Debt Round Table and in our meetings this week to see if there can be a breakthrough. because the number of people's lives that are at stake is huge..."

Is it any different - I watched one guy drive through Ambazonia - it even more chaotic and dangerous with cameroon rebels.

GeneralDae:
His guy is driving in rural Benue.

KaziKazi - this where you lost the plot - and will not catch up soon. 1969.

TZ enacted Mao-style communism - forcing communities into villages - and collective farming.
Kenya on the other hand - kicked out the India merchant class - so Kenyans could move from farming to retail & trade. A few Indians did move to manufacturing while majority left for UK & Canada.

He decided to drive around Africa - kenya - TZ all the way to South Africa - then along southern cost to Angola - Congo - Eq Guiner- Cameroon- then Nigeria. I have no idea when he will stop or whether he will go back; It dare devil mission.

GeneralDae:
This your man seem to be in Benue state. What's he doing there? I'm curious.

Did you just lose electricity in your little hovel in Soweto or why are you angry with IMF data

AfriqueDuZuid:
Nonsense

AfriqueDuZuid:
Angola is over 124b now

Kenya slipped to 8th place now

Then we had power blackout then that latest imf data

AfriqueDuZuid:
Its not $399b

We are using latest imf data...slowpoke

Nigeria - FDI drying up. Things will become worse and worse. Unless Tinubu really wake up and dump everything Buhari did

1) Step 1 - we identified the problem - fired the last gov and their lackeys.
2) Step 2 - Last six months we have made HUGE reforms - that will see revenues increase to 30B from 20B dollars - plus other reforms.
3) We stopped subsidies.
4) We are reducing borrowing.
5) We cut budget by 3B dollars.
6) We inch a 4.5B dollars gov to gov Oil deal with Saudis and UAES
7) We have restored friendly relation with Western nations as we need them in short term - China is out.

The new administration has barely slept the last six months - with Ruto and his team working for 15 hours daily.

Ruto everyday fires anyone who worked for Uhuru and created the mess. KRA - revenues- is up 8% in revenue collection - and Ruto just about half way firing many people there - and elsewhere. Non-ordinary revenues - now 5,000 gov services are online in six months.

For poor GHANA - you're already BANKRUPT - but you engage in DENIAL - like the problem will go away on its own. Or youre waiting for IMF to tell you what you need to do? You dont need IMF to tell you common sense - you've messed up, clean up and dont mess again.

Dont wait for IMF to take PAINFUL decision. DO IT NOW.

First prepare to fire the current gov. If you dont prepare to become ZOO like Nigeria.

vaxx:
You knew you had problem but you didn't lay out a good foundation to resolve it . You rather follow the same predecessor route . Large govt with unreasonable recruitment into govt position without considering the pulse of the nation. That is stupidity.

Sri Lanka case might be a child play comparing to your woes

We knew we had problems.
That is why we Kicked out Uhuru and Raila - installed Ruto.
You are living in deep denial.
And likely to reward the current gov like STUPID NIGERIANS who just rewarded Buhari 10yrs.
Next year Bawuma likely to take the mantle
So you end up deeeeeeeper in problems.

Kenyans know Uhuru had messed up.
Yes, Uhuru had expanded infrastructure.
But when we started going beyond 50%
Uhuru should have stop building infrastructure.

This Ruto manifesto acknowledge that we had perfect storm coming

We knew the next two years are a LOSS.
We knew we had to FIX the economy for two years.

vaxx:
You actually missing the vital point . he made it clear that you are in debt and the crisis started rightly from 2007 . Blaming ex president for the woes ..

So from the conclusion we can derived kenya has both economic and stability problem .the current administration is really in danger and about to turn to the new srilanka

Dr Ndii - Kenya Chief economist explain - what I have been trying to hammer into West Africans poorly educated folks the whole morning

1) Kenya has small liquidity problem. Not solvency problem like Ghana.
2) Kenya will emerge out of debt problem in 18 months.
3) Kenya has no economic growth problem - but inclusive growth problem.
4) Ruto administration is on course to transform the economy.

kenya unlike many poor Sub Saharan Africa countries have brilliant policy wonks

https://www.youtube.com/watch?v=ok3ylbHouiE


https://www.youtube.com/watch?v=oAW9hkGVJ6s

That video going around is by lunatics who think dollar is about to die soon.
Ruto was talking about KES-USD exchange rate..going down due to intervention in kenya forex market
Not dumping dollars

Ruto in meantime is busy farming

Just40:
Now Ruto wants to ditch the dollar 😂🤣😂

Dollars in local market

Just40:
lunatic rants

You're frustrated.. go and blame your government for stupidly borrowing in dollars from the local market

You didnt default on treasury bills - you did on treasury bonds.
There is no short cut to debt - except paying for it.
However painful - it must be paid.
You default - you punish creditors - they will not forget it.
You try to weather the storm - and soon you're back borrowing.

By the time youre nailing IMF program - it will be 2024 or 2025 - depending on how external debt restructure goes

That debt restructure will be insured by IMF - who will demand PAINFUL reforms - including MASSIVE retrenchement (so you're wasting time now trying to save jobs), massive budget cuts.

You Ghanians are the most stupid people in Africa with Zambia.

You're postponing problems hoping they will go away - instead of tackling them.

IMF will soon be there to beat sense into your thick heads.

vaxx:
Then government, like a parent, should tell you that indeed money is scarce then give you hope by telling you the initiatives they are undertaking to arrest the situation. Which Ghana has done. We will delay our debt service for a limited now to address the situation. Because basic and human consumption capital salary are never an option to consider ( I mean the civil govt salary , the free education service , the free feeding and boarding will never be touched . They are very paramount ).but delaying payment can come. It is prudent , because we will soon be tapping loan from IMF which will secure our trust back in the financial markey.

The recent evidence of subscribing on our treasure bill has proving the domestic market hasnt loose hope entirely on us . Some country like kenya can't even raised Enough fund thru treasure bill

But if tomorrow come and we could wake up and hear they have hired more govt commissioner and increased State House budget for instant prayers like kenya did then our problem become very horrible . And it shows we don't have competent govt

Speaking from anus. as always.
Mad cow.

Just40:
Another lie

80% of all debt that Kenya owes was borrowed in dollars

Go and print dollars and let see.

Kenya went bankrupt as far back as 2017 and you waited for things to become bad before rushing to the IMF, unfortunately it was too late.

80% of kenya debt maturities are local.
Ghana went bankrupt because I told you 3yrs ago - you were taking a lot of external debt.
Ours we can just print KES and pay off.
Treasury does that by simply borrowing from Central Bank of Kenya as overdraft.

Just40:
no you can't print 😂🤣😂

Ghanaian pensioners have no problem ... They were exempted


I'm more worried for all the Kenyans who will not be able to repay their debt to banks and will end up losing their properties.
How about the banks who they owe ?


You have two options, either keep defaultibg on more debts like you've done with the Chinese, American, french and Italian debts for an entire year or stop paying salaries for an entire year ...

Pick your own poison 😂🤣

Ghana was able to avoid both options by simply printing and setting pegging against gold.

Kenya does not have this option

Mad-man - you should think about your pensioners & investors - who invested either directly or through pension funds or such funds in Ghana treasury bonds thinking Ghana gov will not go broke - who forever will not get their money.

The worse that can happen for kenyans is a week delay.

Of course it big news in kenya because salaries always get paid by 20th.

So a week delay for some few people is NOT BIG DEAL. As for counties - they should get their own money or borrow from banks - only a few (20 out 47) who havent meet requirement for release of funding are complaining - the rest are okay.

Big deal is GHANA BROKE GOV forcing Ghanians and other investors to take 7.8B dollars haircut losses.

Kenya has a long way to default - we can just print KES and pay off - our inflation is at 9% - Ghana is at 90% (official 50%) - so we can just wake up and print money and pay off salaries - that will reflect in inflation.80% of our debt repayment are local debt - in KES. If we were desperate like Ghana we would order an overdraft from Central Bank of 50B kes every month.

It is sickening when a Ghanian speak macro-economic - I feel like puking.

Just40:
confession from a broke country in bankruptcy 🤣😂

Some fathers will not be able to feed their families and pay fees.


For me, it's the fact that the 50% of Kenyans without electricity will not get it and will be in darkness for the next 10 years.

The 60% of Kenyans without water will not have it even in the next 10 years

Talking of Tatu city - Officially Phase 1 is complete - 2,500 acres.

https://www.youtube.com/watch?v=HLAF-GWjYAk

I agree with general tenor of your argument - but I dont get it why you think trust wont be an issue for local players. If you're a Ghanian who invested in ghana treasury bonds and have to take huge cuts in your investment - and wont get paid a dimme until 2027 - do you think you'll ever invest in treasury bonds again; Not very soon. Most of those investors are poor pensioners without any other source of income.

There are many things one can do before they default - unless again like Ghana you've run out of wriggle room.
1) Cut budget - cut development projects - roads can wait. Focus on maintaining existing roads. Go slow on building new roads.
2) Improve revenue collection - raise taxes or improve collection - more money you collect - mean more wriggle room.
3) Debt refinance - Issue new debt or Issue higher interest bonds - to take care of the risk from investors.
4) Delay payment to contractors/suppliers - rack up the pending bills.
5) Retrench employees/freeze employment





10) Give up like Ghana. Appear one Sunday morning sweating and announce to the world you're bankrupt - cant and wont pay.

GeneralDae:
But if you default and do local debt restructuring, then there would be haircuts which would affect the big private sector players and which in turn has its effects.

When you default on your external debts, there becomes the problem of trust. Trust is important in all business deals. Would you be trusted to get good loans in the future? That's the thing.

On the other hand, if you try to plug loopholes or reduce the size of your civil service especially non productive civil service workers, then you can manage the situation.

The only problem is that if your civil service is large and forms the core of your middle class then you have a problem there as well.

None of those choices are easy to be honest.

Yes at least you were able to nail the domestic debt restructuring - domestic creditors have little in negotiating power.
Now go and negotiate with Chinese
Tell China-man to take haircut - and you'll know China man doesnt joke around.

vaxx:
Ghana prudent policy is indeed bearing fruits ....

You simply run out of options and had to default.
Ghana last desperate attempt was raise revenue from mobile money transaction.
Obviously with your high tax rate - you had reach the limit of what to tax.
And you had to default.

To get out of default - wait for IMF to come with shock therapy - that will include MASS FIRING of gov staff/cancellation of projects.
Or you think IMF are coming to joke around.

Kenya has to delay default as much as it can.
Defaulting is worst thing that could happen to a country.

Like I said the good thing - Kenya revenues are rising - we could hit 30B dollars next year - and our debt is coming down.

Our estimate is we are out of the hole in 2yrs. To be precise - almost one year from now - by 2024/2025 - we would have sorted our debt problem.

Ghana will not begin to pay debt until 2027 - and will finish last restructure in 2037.

In that period IMF staffers will run Ghana gov.

vaxx:
kenya case is more worse than being a defualter . Just for the purpose of having a good record from lenders balance sheet and been able to seek more loan in the future , you decide to hang your workers by their neck . You refuse them their salaries and then divert the salaries to pay loans . That is a far worse problem. An incompetent govt that has lost all ideas of economic salvation .


Ghana on the other hand renegotiate her debt statues , we decide to pay later rather than now , we invest the money for the payment in another profitable option while waiting for the matured period and instead of using the money coming from our revenue , we will be taping into profit , therefore we will be paying our lenders with profit and not from our normal tax revenue . That is more prudent .

What is Nigeria Debt Servicing Ratio.
Kenya one has risen from 24% to 33% to 40% to 50% to now 60%.
Ideally 33% is benchmark for gov or your as individual.
1/3 of your salary or revenue should go to debt repayment - obviously Kenya has dropped the ball - hence the occasionally cash crunch.

Argue with facts or just throw facts outside like Ghanians - and rant like a mad man.

What is Nigeria Debt Servicing Ratio.

GeneralDae:
You've been saying this nonsense since 2021, if that were to be the case we would have been bankrupt by now, it's a no brainer. The fact that we aren't tells you, you do not get the full gist of the story just surface headlines.

Ghana defaulted.
Ghana then forced investor to accept haircut.
Domestic investors have accepted - likes of Zenith bank booked their loses - Stanbic and South africans there.
Ghanians the same.
You still have to convince external debtors to take an haircut.
Zambia been on debt restructuring since 2020.

Defaulting is the worse option.

As for kenya - we could easily borrow whole bunch of domestic debt - except we have refused to pay HIGH INTEREST rate.

Kenya gov is refusing money because anything more than 14% is crazy.

In Main and small zoo of west africa - you gov has no qualms borrowing at 20-30%.

vaxx:
it is not called default , in technical terms , it is called debt restructuring , you renogotiate the debt to pay at covinenence term when the financial system can support it without any delays. Therefore you grow your portfolio and your capitals increased which is then invested into another profitable ventures . So by the time you will be paying again , it will be from profit made from your capitals and not the usual revenue for servicing debt .

Now your country is broke , she has already exceeded the option of looking into domestic market for borrowing , what se can only d for now is to stop payment of salaries at least to divert the money into debt services inorder to continue with a clear record of not been a defaulter so as to been able to raised another loan in the future .

So your govt prefer to kill her citizens by not paying their salaries and instead used the money meant for civil servant wages to pay back loans.


Very poor country

Nigeria debt servicing ratio is 100% - that mean your federal gov cant pay salaries and recurrent expenditure without borrowing.
That is why entire year lecturers were on strike - universities close.
Your Zoo is beyond redemption.

GeneralDae:
@the bolded, you mean some Nigerian state Governors (very few states at the moment) do that to state workers. The federal workers hardly have such problems.