₦airaland Forum

He yet to accept he lost election - he want election servers - just an old idiot who should have retired long time - as his and father quest to lead kenya since 1950s has been rejected.

Obaaderemi2:
Why are they demonstrating?

Those are dated pictures.
Raila and his goons cannot make to Nairobi CBD under Ruto presidency.
He is gone to the slums.

Kazikazi:
Helloooooo

Interesting - I always thought they look and talk the same - Yorubas and whole of seneg-gambia.

I find the Igbo - have traces of central african - cameroon-congo-bantus.

POKUASI2:
no, they're not.
It's only the GAs, (inhabitants of Accra) are said to have migrated from ABEOKUTA, in OGUN state, Nigeria.
The AKANS hate Nigerians and have alot of derogatory names they call Nigerians.
(Alata ni and ANAGO)
these are two derogatory names they called Nigerians.
In fact, the akans are the ones that are more hostile to Nigerians than any other tribe because in ghana, the akans especially the ashantis have that superiority things in them and see other tribes as less human than them.
The refer to those from the eastern franks (the EWES) as togolese and those from the northern part as burkinabes.

Yes if he is healthy - he is actually fine - been reading most of his stuff - he has depth - deeper understanding of economcy. The cow in aso rock now was big mistake. That fulani cow should be herding goats.

Nigeria in my view need to fix
1) Import substitution policies are benefitting a few Dangote's and creating endemic poverty.

2) Naira multiple windows policies - freely float it - it will sink a bit then rise back up - let dollars flow in and out - Nigeria has oil for crying out loud. The windows are benefiting Dangotes elites - through arbitrage - forex controls hurting investment - airline unable to send back 750M dollars for example.

3) Electricity - give each state power to generate and manage their power. NEPA and it's grand children going nowhere.

4) Fuel subsidy is beyond stupid - get that 12B dollars and invest in security, education (esp in the north), healthcare and electricity.

5) Revamp armed forces - increase funding even 5 fold. Improve soldier welfare, salaries, training and motivation. Proffesionalize the force. Dont waste money buying expensive weapons. Focus on human resources. Kenya has 25K armed force with almost same budget with Nigeria 300K force.

6) North Nigeria is dragging the country down - invest human capital there - free complusory education - funded by federal gov.

Obaaderemi2:
Tinubu coming in as the next president is no dysfunctionality. He already vowed to remove subsidy and has the best experience in running a modern economy than any politician dead or alive in West Africa.

It mostly international tribalism - the Ghanians (at least Akan) feel closer to Yoruba.

POKUASI2:
You're happy because the dysfunctionality in Nigeria benefits your IMF colony.
A country like ghana frets whenever a Nigerian says "WE'RE GOING TO FIX NIGERIA"
truth is, an optimally functional Nigeria will be the end of ghana.
Your country is a direct beneficiary of the scam called subsidy.
Your quack, read and recite education system benefits directly from the mess in Nigeria.
Criminals that stole public money are investing in your real estate.
Your slay queens are benefiting from the mess in Nigeria.
We want a Nigerian that fix Nigeria, make sure every Nigeria has an ID card and tighten our borders

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

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!

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.

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.

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.

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.

Nigeria

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

One most useless bridges ever conceived by a human.

Kazikazi:
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?

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

UhuRuto happened in 2013-2017 - they were re-elected by bigger margin.
Fallout happen
Uhuru adopted Raila the opposition leader in loose coalition - economy tanked - Raila got punished.

In short Ruto was last in gov in 2018. He is coming as change candidate. Raila became gov.

vankelvin:
Kenyans in general know little in politics.

How can anybody blame Uhuru but insulate Ruto from all the bad things that happened in the previous government?

People were routing for the better candidate - who was Peter Obi. Not predicting who will win or lose. The old Tinubu will not help Nigeria when he is not healthy.

vankelvin:
You guys should come to Ghana
we will teach you all the intricacies in Politics

When all Ghanaians on this platform were tipping Ahmed Tinibu to win the election you kenyans and some Nigerians with low thinking brains were busily typing rubbish.

Ruto formed half of Uhuru gov as it was coalition btw URP-TNA parties that then became Jubilee.
So there are people whom Ruto trusted and survived the fallout. Many others were purged. Ruto has basically return most of them and kept a few of the survivors.

Ruto has retained few very brilliant. folks

1) CS Adan Mohammed was first Kenya, Somali, African to head Barclays -East and West Africa. He was tap to sit in economic council

2) Ruto also retained Dr Monica Juma - brilliant woman - with Phd from Oxford - to be National Security Advisor


Both have very great CVs

Adan Mohamed
Degree (Hons) in Commerce; Accounting University of Nairobi; MBA, Harvard Business School. Formerly, with Management Consultancy and Business Advisory Services, PricewaterhouseCoopers, London. Formerly, with Barclays, including: Chief Administrative Officer, Barclays Africa; Chief Executive Officer, Barclays Kenya; Managing Director, Barclays East and West Africa; senior roles in finance; responsible for brand and marketing, corporate communications and citizenship across Barclays Africa businesses. Since 2013, Cabinet Secretary for Industry and Trade. Former roles in public and private sector in Kenya, including: Chairman, Kenya Bankers Association and Jomo Kenyatta University of Agriculture and Technology; Member, Kenya National Economic and Social Council. Chairman, African Council of Ministers for Industry. Member, Institute of Chartered Accountants in England and Wales. Recipient of the Elder of Golden Hearts from the president of Kenya for leading role and distinguished service in both the private and public sector.

68816419:
So why would he still sticks with the same Uhuru economy team? Why would Ruto appoints Uhuru CS as economic advisor?

Broke Ghana is not in this debate until 2037.

Just30:
Nothing happens by magic

Kenya import including service is 24 billion dollars, the effect is still the same

The book by Charlie Robertson, who is the chief economist of Renaissance Capital - on what countries in Africa need to do - should be compulsory reading.


The book explores the connection between education, electricity, and fertility to economic development. The thrust of the book's argument is that no poor country can escape poverty without education, and that electricity is an important factor for investors looking to build businesses. It also explains that a low fertility rate helps to increase household savings. Charlie argues, with a lot of data and historical parallels, that countries need at least a 70-80% adult literacy rate (defined as being able to read and write four sentences in any language) and cheap electricity (an average of 300 - 500 kWh per capita) in order to industrialize and grow their economies rapidly. Small(er) families (3 children per woman) mean households are able to save more money, which can improve domestic investments by lowering interest rates - otherwise countries may repeatedly stumble into debt crises. We also discussed how increasing education can lead to higher domestic wages, but that this is usually offset by a large increase in the working-age population - and other interesting implications of Charlie's argument.


https://www.ideasuntrapped.com/p/why-education-electricity-and-fertility#details

Kenya remittance is approaching 5B.
Kenya total export including services (tourism, etc) is 11B.
Kenya companies are all over east and central africa - they repatriate foreign currency.

Kenya can never be compared to unsophisticated TZ.
Not even with our smaller land; and little arable land.

What we have that many Africa countries dont is simple - HIGHEST STANDARD OF EDUCATION.

Education is SINGLE MOST IMPORTANT DENOMINATOR for development.

Until Africans invest in education - I mean high quality education - going NOWHERE.

2nd most important thing - REDUCE FERTILITY RATE - to below 2.8 - kids per women.
3rd - Electricity - you nail cheap reliable electricity access - and magic start to happen

The rest will happen via magic. People develop countries - not gov

Kazikazi:
To understand more of Kenya's problems,let's check these stuff. ..

Kenya's export was 6bn vs import of over 15bn

Manufacturing was almost too low. (A total export of 2bn) And what make it bad is,most of these manufactured items are actually imported stuff and shipped to kenya for repackaging.

The value of Schilling was overvalued. This encouraged alot of importation from Tanzania and Uganda. Simply speaking it was unprofitable to grow basic stuff in kenya.it is cheaper to import simple stuff like cabbages,onions,etc from TZ

Agriculture was overlooked for too long.imagine a country has only 9% of arable land under irrigation.

Borrowing from John to pay Peter was or is the order of a day.In simple logic,that was economic red flags.

The GDP story was fake. Anyway,the war in Ukraine will give them their true size of GDP.

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.

Kazikazi:
Angola,Ethiopia overtaking kenya?

That is not something surprising. Angola was ahead of Kenya,just few years back they had currency depreciation, now the kwanza is up,they are back where they were.

Ethiopia too was ahead of Kenya few years back.They devalued their currency, kenya went ahead of them, but Ethiopians are now back where they were.

Same to Tanzania. The currency have been undervalued I think more than what it should. Few years from now,it won't be a big news for TZ to be ahead in terms of GDP

Ruto has been in power for exactly six months and has achieved alot
Remember he inherited an economy that was struggling because of Uhuru mismanagment.
And also remember your support is not relevant.

68816419:
I supported Ruto to emerge as Kenya’s President, but right now, I may be forced to withdraw my supports

As Nigeria replace 75yr old with 75yr olds - here is 37 yr old Nairobi governor (he was already a senator - then before that an MP)

55yr old President
37yr old Nairobi governor

Both are clocking 15hours daily in real work done - Buhari and Tinubu can hardly stay awake for 4hours a day

Officially opened the Pre-Bidders conference for our Urban Renewal Affordable housing program. We are redeveloping 9 County Estates (Bahati, Maringo, Jericho, Lumumba, Ziwani, Bondeni, Kariobangi, Embakasi and Woodley that will create > 40,000 housing units for our people

Affordable housing countrywide - getting the momentum it needed.

All over Nairobi are high density project coming up - that are dirty cheap - less than 30K usd for 3 bedroom

Kenya racing to build a million houses in 5 yrs.

Some of the estates - 6,700 units - Starehe Point in Nairobi - will be one of Africa biggest estates launched yesterday

Nigeria economy the last decade has been either under recession or growing by 1 - that amount to zero work done by Buhari.
South Africa is undergoing the same mess.

Economy just doesn't grow on it's on. You got to work on it.

Bloodofthelambo:
lol... GDP excites Kenyans,
So you believe Nigeria is still in 400-500B dollar range,
While your country keeps dishing out fake GDP data.

Dey play, jus dey play🤣🤣🤣.

When real datas are released all y'all will say is 'cooked and fake bla bla'

Dey play

Brilliant move - how is Buhari holding on?

GeneralDae:
Kenya is seeking a credit facility from a group of banks as it nationalizes the importing of fuel to enable it to defer payments and conserve its depleting forex reserves.

Dollar Shortage Spurs Kenya to Seek $4.8 Billion Oil-Supply Cover.

-KCB Bank, Standard Bank, others to issue letters of credit

-Government plans to defer fuel payments by at least six months

Bloomberg Africa

Self-deprecating humor is a good coping strategy in times of economic meltdown. I will seriously talk about Ghana when it emerges from bankruptcy. 2037.

Just30:
Fortunately my country is not Bank nor poor hence the significance of it and the interest it gathers all around the world.
Real soft power that your country will never have 😂🤣

My economy remains bigger than yours with a huge productive capacity that is 5 times yours ... That is a real economy and not the phantom bankrupt Kenyan economy running on bubble.


Ruto and your treasury are busy waiting for 2036 when your debt repayment is expected to come back into sustainable levels. That's a gone country 😂

Such a Fool*

Ghana the IMF poster kid of bankruptcy

Kenya GDP is now 120B - almost double Ghana now

Just30:
Steve is not interested in poor insignificant countries like Kenya