₦airaland Forum

Sometimes you can be all sane. If dwarf Nana had a brain - he would long have fired him - as MoF. He is responsible for bankrupting Ghana and cannot be part of the solution.

Just30:
I'm very happy people have made sure he's going down ...

It didn't start today, he collapsed his competitors businesses 4 years ago out of no real reason. Most of which ended in court cases which he lost.

Those businesses he collapsed were much larger than his and those gurus were going to make sure they collapsed his. My prediction was as soon as the next govt come into office but thanks it's happening even sooner.

Creating strategic bank run on certain institution is NSA like move

Save the words.
Ukraine will win the war.
Russia will become a pariah state.
The only major city Russia seized was the regional capital Kherson - and Ukraine took it back last month.

Just30:
Finland and Sweden were always in NATO and that is why the Russians developed the Bastion missile system as counter to whatever surprises that will come from that.

One year from now, there may not be a Ukraine to even talk about because the Poles are looking to take back their regions that are part of Ukraine and Russia is not interested in Western Ukraine and will be happy to let the poles have it like Putin mentioned in 2015 during one of his engagement in St Petersburg.


That is the difference between Russia and US... Russia does not seek to create failed states and especially for Ukraine, Putin was very enfactic to his generals on not targeting civilian and civilian infrastructure as well as not interested in taking out the political establishment of Kiev because they very much wanted a Ukraine that they can still call their brothers due to a 1000 years of history.
All of that changed when Russia enter a 3rd phase of their operation and now they are preparing a 4th phase that will end the war completely as Ukraine military capability has been degraded.

The US already knows this war is done and that is why Biden started conceiving defeat last week by mentioning that they will support Ukraine as long as the country still exist.

Before you type anymore nonsense... Go and learn what the Russians did in Syria to end that war.

Also go and learn wisdom from John Mearsheimer and col Doug McGregor. And not the script readings from neocons and the uniparty bs that they've spread all over


Don't forget all the monies going to Ukraine is a loan that will have to be paid back.. The EU is demanding sale of public lands and asset.
What a pity

Ghana - Investment Fund or Bank owned by Minister of Finance the 1st to collapse - hilarious if it wasnt tragic. Apparently, they've close offices and asked staff to work remotely to avoid the beatings from frustrated clients who cannot withdrew their money.

And the man still run Ghana finance ministry

"Meet the Finance Minister Ken Ofori Atta, who manage Ghana and DATABANK into Bankruptcy. What a remarkable excellence finance minister."

https://www.pulse.com.gh/news/local/angry-databank-customers-threaten-to-burn-down-the-company/59x0np2.

Look here mad cow.
The fact that Ukraine-Russia are fighting means Russia is just another run of the mill country.
If USA attack a country - they disable it within a few hours - max a week.
That is a super-power.
What you're describing are details or motions; Ukraine has reduced Russian to it's peer.
The war is evenly matched - heck we can even say Russia has some edge
Fact is Russia is no longer a super power.

Ukraine a country most people didnt know - is now fighting Russia on almost even ground - and winning. It's like Mexico giving USA as much as it takes.

if US was to attack Ukraine or Mexico or Canada - it will not last 24hours - before they take over - the destruction in those 24hrs will be extensive.
What happen next is whether we have guerrilla warfare or not - not a conventional war.

Russia is over and done.

Finland and Sweden are in NATO now - Ukraine is already NATO - because it's getting military aid from NATO.

You can focus on the details and nitty gritties - or look ahead one year from now. Russia and Putin are well cooked.

Just30:
Sorry it is not NATO and will never be.... The Russians have drawn a line there

The NATO declaration in 2008 with attempt to draw Georgia and Ukraine in cause the Russians to drawn a line and that line has remain there ... Which led to the Russian Georgia war and has also led to the current issue and Russia isn't backing down, while preserving Russian infantry from unnecessary lose of life.

The only people being Lynched are the Ukrainians as they've teemed it a meat grinder.... A slow meat grinding war is only playing to the advantage of the Russians as they slowly grind Ukraine military capability and drain Europe and the US of their military stockpile.

Russia is not isolated, as we saw at the UN, they have 70% of the world population backing them... This neocon view is the reason why Ukraine has been sacrificed to a meat grinder just for Europe to suffer the consequences while Russia benefit as a largely self sufficient society..

You're quite dumb, Ukraine is not getting any real money shy from a billion dollars or 2 to keep the bureaucracy in Ukraine going.

Biden entire cabinet is busy asking him to negotiate with the Russian but his neocon buddies is asking him to stay the course.. This is what led to his speech that he is willing to negotiate with Putin.
Putin doesn't seem interested at the moment than to also be saying that he is willing to negotiate because everything is currently playing to his advantage...
The war has only led to Putin popularity surge because he seem the only reasonable person on the global stage at the moment.

Biden will rather be taken out by old age before he will see the end of Putin... The Russians Revere Putin and more so now than ever.

The Russians will keep grinding Ukraine military capability with artillery and walk over Ukrainian KIAs when they move in to conquer more territory...
As master of winter war... They'll not be carrying out any major offensive this winter and will keep to grinding Ukraine.

The bear was better left sleeping than angering them into a war which they can be very brutal at.

The Russians are prepared for this war and have adjusted fairly for the war after the realities they saw in May... The US and Europe aint.... Their economy has fare better and become even less dependent.

Recap of the dark continent with many bright specks. Kenya has about 9.5M customers - adding almost 1.2million new connections. When connection hits 12m - in another two years - we would be close to universal electricity access. Kenya had over 12 million households according to the last census done in 2019. The majority, some 7.4 million, lived in rural areas, while 4.7 million dwelled in urban zones. Nairobi City was the county with more households, approximately 1.5 million.

Now this something. Not rebadging Chinese cars. As ugly as it look - it's first version - and is actually built in Nigeria.

Africa gov should invest in such ventures.

GeneralDae:
A beautiful Made-in-Nigeria Electric Bus built by Nigerian mustapha gajibo in Borno and called “KAANDE” /OURS in Kanuri language .

Let assume that is true.
What is basically mean is that not in cash form that you can use.
You have to wait for it to mature - if maturity is 10 or 20yrs - you have to wait.
Therefore, look for another straw to save yourself from bankruptcy.

Just30:
The country names ain't important to us as long as it follow theses rules. Mostly European debt

Invested in so many unnamed countries?

Just30:
I guess you don't know that what I posted is the law governing the Committee responsible for investing Ghana sovereign wealth funds...



Are you asking that question after reading what you just read?

Ghana sovereign wealth funds are invested into so many countries debt as well as debt guaranteed by IMF and WB.

Let me post it for you to read again so you can be ashamed

Yes China caused COVID and we will ask them to extend the repayment for railway from 30yrs to 50yrs. If they refuse - we will pay. Debt must be repaid.That minister was my college friend - and was recently with China ambassador - nailing the next stage of the railway funding.

Kenya and Uganda are preparing to sign two big railway loans from China now.

Just30:
What ever makes you happy...

Trying convincing the world that you didn't just have to take a few million dollars fine from China to add to the debt you already can't pay and asking china for renegotiation despite all the years in moratorium they gave Kenya

Ghana bond holders will ensure that Ghana can borrow next year.

I gave you a link to your own audited soverign wealth - and you're rebutting with generic description.
Where are your funds invested in.
US treasury bills and bonds?
Or Ghana

I know you thought they were cash sitting somewhere - where you can use it to pay debt. Never mind they are also empty - having been drawn down regularly. If you add all of them - they are not even a billion dollars

Just30:
Lunatic

You're really desperate

Let me attached for your reading where all the funds are invested. You can take interest in the part where it said not in Ghana.

1) Kenya has had no problem and has no problem with paying off China debt. The reason Railway Development Fund - 1.5% of any import to kenya is levied RDL - that annually.

RDL since 2013 has raised 1.5B dollars. China requires annually 80M dollars - RDL alone - raises 1.5% of 20B dollars - which is 300M dollars annually.

2019
https://www.theeastafrican.co.ke/tea/business/kenya-s-railway-levy-to-rise-by-30pc-but-where-does-the-money-go--1421034
"Conservative estimates show that since 2013, the RDL has generated a staggering $920 million based on the rate of growth in the value of imports, which increased from $13.2 billion in 2012 to $17 billion last year according to Kenya National Bureau of Statistics data."

2) China is preparing to lend kenya more money for Railway - feasibilities studies for extension are complete - and China will sign it off early next year.

3) Ghana cannot borrow in next decade anywhere outside IMF/WB/AFDB. It definitely cannot borrow from Eurobond or domestic market until it's investment grade - somewhere in 2040. Even kenya now cannot borrow. It has to repair it rating to investment grade.

You must be rated above above BBB- or Baa to be investment worthy - meaning you can borrow. Junk like Ghana needs two decades or more to get back there.

Just30:
lunatic

Because Kenya ties with China has cooled off due to Kenya defaulting on Chinese debt ... You guys have horridly turn the begging bowl to the West smooching

A rating downgrade does not mean shit except for the fact that it will increase your next borrowing cost.

Ghana sovereign wealth mostly invested in gov bonds - which are now in default . Mad man look for another straw. That one has snapped.
https://www.bog.gov.gh/wp-content/uploads/2022/11/Petroleum-Funds-2021-FS.pdf

This kind of sickness - at national scale - is quite intriguing.

"Global Ratings agency S&P has lowered the sovereign rating on Ghana to ‘selective default’ from CC, a day after the country announced it would suspend its debt payments to some external creditors including holders of Eurobonds."

Just30:
sweating looks like taking budget support from IMF cause you have nowhere else to go... Casting your insecurities on us has never helped you.

As far as everyone knows, Ghana is paying it debt and has budgeted 3.5 million for debt due next year.

Kenya is the only country that has defaulted on 4 separate debt payment causing China to fine your country.

Fact is,

Ghana forex has increased to 9 billion and Kenya has drained hers to 6 billion..

Ghana's SWF are growing in value and Kenya does not have any.


Your president is asking Kenyans to contribute money so he can forfill to help his wife the bet he lost...have you sent yours?

Copied from another kenyan

Ghana mess.
"Very true but their President also over borrowed domestically and abroad taking away all credit from businesses. Tax collection stalled and they struggled to offset Forex demands inflows Vs outflows. Reminds you of our previous administration.

They took too long - 3 years to even acknowledge the problem. They could have rescued themselves in 2020 during COVID period by adjusting fiscal policy to new realities but they instead continued unabated."

Classic deny and deflect.
Kenya has not come out sweating on sunday to announce it cant and wont pay debt.
Kenya is ranked B - Ghana is ranked D - defaulted.
By the time you emptied the forex and suspended debt repayment - that includes anything on sovereign wealth.

Just30:
anytime you mention bankruptcy, just take a look at this and know that Kenya does not have any and that is why it is bankrupt...

Yes Ghana has been paying it debt Kenya is the only one that has not been paying it commercial loans and bilateral loans because it is Dem broke.... Boy your country is even borrowing concessional loans to pay salaries.
That is how bad things have become for you


There's nothing in your dumb head

Ghana has the best investigative journalist on the continent who have blown alarm on a lot of bad deals to cause their cancellation before the lost of serious money... I wish same for Kenya

I doubt. Bostwana from what I know the black there live better than black of South Africa. South Africa is incredibly bless with minerals - it's citizen should be enjoying high standard of living.

jl115:
The last time a report was done in Botswana 61% lived in slums..... So Botswana isn't your best example

Try again

Also : "I don't believe in If anymore, if is an illusion, if is for children" - Roger Whittaker

You discovered Gold is great after emptying your forex?
The gold barter trade is desperation.
What you gov need to do is become fiscally discipline starting today.
Dont wait for IMF - institute a serious budget cut - of more than 50%.
Ruto in Kenya came in - and didnt need IMF - he unilaterally cut 3 billion dollars out of this year budget.

Zambia new president found a bankrupt country - and I think he will straighten things in a decade. That would be amazing.

He is nearly nailing a debt restructuring deal...these things will take time....then you have to start paying.

Then a decade - in 2037 - you'll be back to borrowing again from domestic and external debt market.

vaxx:
You are actually an idiot. So many similar trades exist thru out the world in such similar note. Gold for weapons , black gold for hosting right of FIFA world cup( the one qatar just did of recent ) maybe we are likely to be on run for gold soon when we stop using dollars as a standard to measure out currency. Gold has so many properties that makes it more valuable to used than money, it far beyond trade by barter.

PWC are bean counters - accountants. They cannot predict anything. And yes I know PWC of course. 10 of my colleague at university joined PWC, KPMG, Deloitte, Ernet & Young. They didnt have any accounting degree. We did CS. At least in Kenya they recruit from any field - because essentially they are auditors - who just get locked in a room - and told to confirm a tonne of paper receipt.

Again make your projection of South Africa economy using the skills you already got.

Try this - predict the next 3yrs - then 5yrs - then 10yrs.

Do the same for kenya.

Easy.

jl115:
No... People who work for PWC are actually skilled and experienced for that specific task.... You aren't

You don't have sound reasoning, you proved it when you said people like you and me work for PWC.... People like me with a degree in Chartered Accounting work for PWC, people like you don't, however I understand this is an anonymous thread so my so called qualifications are not valid in a debate here

I showed you IMF predictions as well... Not just PWC

Do you even know who PWC are?

South Africa can stand still and not grow a single % and Kenya can grow @ 6% annually and it would still take Kenya 22 years to reach SA...... If we stood still!!!!


Do you understand now how stup1d your argument is?

Kenya leads with credible data....not based on survey...but real trading volume from Chainalysis.

Kenya is ranked first globally for peer-to-peer cryptocurrency trading volume and fifth worldwide for total cryptocurrency activity. Kenya is the leading African country amongst 10 countries globally in terms of cryptocurrency holdings and blockchain- related transactions.

Just30:
you're wasting your time

If it was Kenya ahead, this platform would have been blasted with it

So they ask people in survey and extrapolated that 65m - 1/3 of Nigeria have used crypto. That is implausible. It bollox really.

GeneralDae:
I think it depends mainly on the platform. Remember that the Nigerian Government is stricter on crypto compared to Russia and the likes. Nigerians focus on p2p transactions and other forms of trading.

This is from Binance themselves:

In a recent survey that evaluated dozens of countries according to crypto usage, Nigeria ranks 1st as the country with the highest crypto adoption in the world.

The survey finds that one-in-three Nigerians have used or owned crypto at some point.

https://www.digitaltimes.africa/binance-ranks-nigeria-as-the-leading-country-per-capita-for-bitcoin-and-cryptocurrency-adoption-in-the-world/

Good indicator but nothing solid.

Look at Binance traffic - I see Russia leads with 5.7m visitors. This make sense (many russian have had to adopt crypto to evade their visa/mastercard restrictions) - and looks plausible

Nigeria - 65Million using crytpo is crazy to me - that is 1 in every 3 Nigerian - unless maybe E-Naira has been widely adopted.

GeneralDae:
Okay I'll oblige you as long as you are ready to stick to facts not gut feelings.

Binance, the world’s largest cryptocurrency by volume of transactions, just announced that it added 12 Nigerian banks to its Peer-to-Peer (P2P) platform in a bid to reduce the possibility of disruptions during the process of P2P transactions.

Binance added 21 banks across the African continent; however, 12 or 57% of those banks are Nigerian banks [/b]which include: Access Bank, Ecobank, Fidelity Bank, First Bank of Nigeria, FCMB, GTBank, Keystone Bank, Stanbic Bank, Standard Chartered Bank, Sterling Bank, Zenith Bank, Union Bank of Nigeria.

[b]Due to the heavy concentration of Nigerian banks, it would suggest that a chunk of Binance’s P2P volume comes from the country.

Binance argues that by using a specific local bank or e-wallet in the advertisement as a payment method before picking P2P users to transact with, it will reduce the possibility of disruptions since the counterparties can see in advance which bank is the preferred one for you to pay or receive money. Binance stated, “This will help avoid inter-bank delays and fees.”

What you should know
In the announcement, Binance has asked its users in Africa to also suggest other local methods they would like to see on the platform.
Of the banks listed, four of the five tier-1 banks (FUGAZ) were added to the platform, with the exception of UBA.
Of the 12 banks listed, 9 of them are of Nigerian origin, while the other 3 are originating from other African countries or abroad.

I dont seek validation or to be loved or popular online. My fidelity is only to facts.

Please find me other sources - that support 65milion nigeria engage in crpto.

Again if there is just a single source - then we got a problem.

If it well established fact - it should be easy to verify in many sources in many crypto exchanges. Binance is now the biggest - should be easy to know how many Nigerian engage in crypto transactions from there.

GeneralDae:
I doubt that.

Question remain unaswered - where did all the minerals in saudi arabia of minerals go - that you now have whopping 26% of your population living in slum. If kenya had been similarly blessed with a natural resources jackpot - that would be legitimate question.

The answer lies across the border - Botswana.

Black gov that cares for it's people - uses it diamond to transform the society. Botswana

The Boer took all minerals/land/resources - and made blacks poor in a Saudi Arabia of Minerals. South Africa.

jl115:
% of people living in slums:

SA : 26%
Kenya : 47%


Next question

Again after Mercer QOL - here we go with PWC.
People who work in PWC - are you and me.
You can make your prediction based on sound reasoning.

Who awarded PWCs the prediction honours - as far as I know they are bean counters.

They are not prominent economists - I would rather read something from even Economist Intelligence Unit - than PWC crap.

Prediction is hard - and so give it your own short - convince us how in 10yrs south africa will turn around it fortune - and how kenya will stop growing.

I have done a simple - projection myself.

jl115:
so the PWC report released a couple of years ago didn't take considerations into account that you claim have existed for 15 years??

Do you not sometimes read your posts and conclude how utterly ridiculous they are?

The fact that they are million south africans living in slums. If you were developed country - I will have no advice for you. Certainly South Africa is ahead of kenya - but remember we are dealing with unequal country.

jl115:
The average black South African earns twice the average Kenyan and lives in considerably less poverty..... So again, what puts you in the position to say anything about development?

They never predicted you will be stuck in middle class the last 15yrs did they.
You're going nowhere because Latin America is good case study for you.
You're stuck in middle class trap.
You're unable to discover the trick South Asians have used to prosper.

One of them is motor cylces
https://unhabitat.org/sites/default/files/2013/06/GRHS.2013.Case_.Study_.Bangkok.Thailand.pdf

See Bangkok - how it look - now.

jl115:
And yet the IMF, World Bank, PWC all clearly put SA ahead untill at least 2080 and still far above Kenya wrt GDP capita until.... Eternity I guess

They are parts of kenya that are developed - they are part not developed. They are slums in south africa. They are people living poorly in remote south africa.

They are thousands black kenyans richer than white south africans.

jl115:
but that underdeveloped part is twice as developed as your country?? So what puts you in the position to say anything?

The best predictor of the future is the past;
15yrs ago - kenya gdp per capita was not even 700 - now it's 2100 - 3 times.
15yrs ago - South Africa gdp was exactly where it is now - around 6500usd
One is growing very fast - the other is stuck in a middle class rut.
One is adopting ASIAN model of growth based on human capital investment- one is on the LATAM minning then chaos, crime, drugs path to nowhere.

Kenya right now need to just double it's GDP per capita to be like south africa - upper middle class.

That will happen in a decade or even less.

jl115:
Kenya isn't catching SA in our lifetime

Most of the time - my gut feeling is very close to the truth.

GeneralDae:
Okay, I thought you were saying your feeling is the truth.

I am saying I dont believe it. I didnt tell you how to react to it.

GeneralDae:
So Bloomberg gives a report based on the number of crypto transactions in the last month, you are saying we should reject their report and believe you?

I dont talk down blacks - I want them to prosper in a country that is two in one - one part developed - the other undeveloped. That undeveloped part should adopt stuff like cheap motor cycles. That was the debate.

jl115:
You talk down on black SAns as if you yourself are in a better position.....the fact is a black SAn is twice as well of as a Kenyan, so while you try and degrade black SAns just remember you are beneath

You are not at South African level. Stop being delusional. Now with bankruptcy you need another 50yrs to get to South Africa level. Kenya just need 15yrs.

Just30:
Ghanaians remain the strongest.
Rant all you want

Don't worry, together with the South Africans, we prefer donkeys

We won't ever be weaklings to be disposed of lands or be castrated.

I like the way you wish your country resources will attract investments for development. To be able to do that require great minds which Kenya doesn't have