₦airaland Forum

Coal - you exported close to 2 billion dollars - and you use it to generate lots of electricity. This coal business has no future. So you hopefully are planning a future without it.

Your delusional if you think your education is highest in Africa - your higher education (universities) are very good - but everything else in shambles - which is why your economy cannot transition to developed world like Mauritius has done. Remember only 10% of kids end up in universities...where are 90% going to? 50 TVETS? did they receive good education that prepare them?

Land reform and racial inequality is a key issue. Malema won't be getting 10% support if it want.

Good progress on immigration. Now you need to give business to SAA of deporting immigrants - after securing all your borders. Dont wait for violence to occur again.

jl115:
so you saying we have to much coal and that's why Eskom is struggling??

-Land Reform isn't a serious challenge, just a political scape goat, in reality less than 1% actually said it is a pressing issue in a recent poll.

- illegal immigrant numbers have dropped ever since the SANDF started patrolling the border.

- Education: our education is ranked highest in Africa

- Unions....what about them?

Never heard of it but it appears to me that Ivory Coast is one progressive West Africa country

popizaino:
There is Air Cote d'ivoire and it is still in operation, get your facts right.

You can entertain Africa all you want with DRC - right from the poverty capital. This is not very important.

Shaytun:
The top ten most streamed song in Kenya for 2022 are all Nigerian songs .

Very soon Kenyans will start speaking Yoruba or Igbo and lose their cultural identity.

Here we go with Ghana the slumpolis

https://www.youtube.com/watch?v=sTio_0rwR1s

You got jokes.
Financial intermediaries
Your west Africa is completely sick ZOO!
The formal sector alone - you guys are getting loans at 25-30%!!!!!!!!!!!!!!!
You banks dont even quote annual interest - they quote monthly interest of 3% - which is 36% per annum. CRAZY

Now before we proceed what do you know by financial intermediaries?
Quick check on Susu - and it appears very tiny - 850 such in Ghana - this appears to be merry-go rounder - very tiny

Let not even compare to kenya.
Kenya has 7th world largest cooperatives movement...Africa largest...south africa is 2nd....15 million kenyans belong to a cooperative.
Almost every kenyan in informal sector belong to some merry-go-round or table banking.

Our mobile money is of course a global trail blazer - with I think 400 mobile money credit facilities.

This hustler fund is innovative because one biggest problem facing developing countries is how to grow savings and pensions when most people are living hand to mouth- and it solving it while dishing out very low almost zero interest loans and forcing them to save .

Dont wonder why Nigeria and Ghana despite all the minerals and arable land look shietty compared to baren kenya.

These small things like having 7th largest cooperative movement in the world has made huge difference in kenya - which would be one Africa poorest - because it has no major minerals or arable land or natural resources.


https://www.youtube.com/watch?v=DQezoDoYcPA&t=5s

But instead it largest non-mineral economy in Africa.

vaxx:
no sane country throw money to the poor , you don't build a wealthy nation that way . You will only create a poor society. .


You people need to come understudy west africa model .... We have lots of financial intermediaries here.


Susu in Ghana , Ajo in Nigeria etc. ( informal loan club)

I am against the delusion/illusion that informal economy is so big and so fine; no it's not fine; it's not good; certainly not big; it need to be formalized, improved, fixed.

Informal economy is a must when economy doesnt grow. People have to survive. They have to EKE a living. They do this through informal sector. They hawk, they hustle, they farm, they engage in anything that can put food on their table.

It's not a sign of progress - it's a sign of regression. This default economy in Africa - the informal hustling eking a living economy - it perhaps 80-90% in most countries.

IGpro1:
so you mean the informal economy you were against is same one you now rejoice over. You need help sire

Ruto hustler Fund driving savings and pensions up as side-effect of zero interest micro-loans for the informal sector. Kenya has 3 million formally employed (South Africa has 10 million) but bulk of Kenya's 30million adult over age of 15yrs are informally employed (8 million are small holder farmers, 4 million in schools/colleges, 15 million in non-farming informal trading/transports/name it. South Africa has close to 40m working age population...with only 10 million formally employed...and whooping 33 percent unemployed (majority blacks).

The story is the same for all Africa countries - tiny formal sector - gigantic informal sector plagued by zero savings/pensions/lack of affordable credit.

Kenya's Hustler Revolution gov has made that informal sector it's basis for it's economic revolution - otherwise also called Bottom Up Economic model - and it's getting started.

Improving the people at bottom fortunes even by a dollar every day - can scale up into massive economic push.

What Hustler Fund does is to allow them to borrow micro-loans almost every day perpetually - 5 dollars every day - repay- they are "forced" to save 5% - and gov matches that 2:1 - end of the year - everyone will have substantial savings - end of 5yrs - everyone will have substantial pension scheme.

Savings are what will drive the economy forward....as debt is using someone borrowing which you pay interest. With their pension scheme - they can afford to put down payment for a house or start big business - graduate from informal sector to formal MSME.

Kenyans who have taken out loans since the Hustler Fund scheme's inception had saved Ksh.147.21 million as of Sunday noon.
This is according to figures provided by Co-operative and Micro, Small, and Medium Enterprises Cabinet Secretary Simon Chelugui on Sunday, who also stated that the savings were obtained through a Ksh.2.9 billion in loans

Kenyans have so far repaid a total of Ksh.129.1 million, according to CS Chelugui.

He said that a total of 8.4 million Kenyans have registered, with a total of 5 million transactions already made.

Savings from the Hustler Fund scheme are deposited into a savings account after 5% of the borrowed money is deducted.

There is multiplier effect from minning - like your power sector depend on coal minning.
Ruto is corrupt but what distinguish kenya from south africa - is political will to institute reforms and structural changes.
It appears to me this ended in South Africa in 1990s.
Yet South Africa faces serious challenges - Land reforms, Immigration, Education, Eskom, Unions, etc.
Kenya is facing it's demon headon.

jl115:
You do know mining only makes up 8% of our Economy right?

Also Ruto is just another typically corrupt Kenyan politician.... The status quo will remain...and yes, Kenya will over take SA eventually, but that's simply down to population growth....and will only happen when you and I are long gone

Remove gold - it's already un-economical - you're digging 10kms inside the earth crust; give up;
Coal - I dont see future for that - not with global warming - max 20yrs and coal will be banned.
The world is trying to sink carbondioxide - and you're going to earth carbondioxide reservior - and releasing them
It gotta to stop. The same with hydrocarbon. There is enough sun for everyone

That leaves plantinum

And minerals never really make countries great - because the prices will fluctuate - economy doesnt like that.

ANC remain your biggest albatross and if you can remove it; you'll be well on the way to making ammends.

For now kenya is gonna overtake you in a decade.

jl115:
We have 40 years of gold left, 173 years of coal, 200 years of platinum reserves.... Nickel isn't even on of our major minerals... So don't know why you brought it up.

Secondly you probably haven't seen SAs latest by election results and poll numbers.... The ANC isn't winning in 2024.....

Once your run out of coal,nickel,plantinum and gold - which recently are enjoying good times - and boosting your GDP - we will simply overtake and you cant do nothing about it.

We are fixing our country - reforming - and working on it. You're not. You're just bickering....there are almost no political will to deal with anything...immigration, unemployment, racial inequality, education, Eskom.

Only Malema is shouting. ANC are busy feasting.

jl115:
Ok let's take the above shall we

In 2020 Kenya's economy was 2.7 times smaller..... In 2022 it is 3.12 times smaller...... How are you going to overtake SA when you are going backwards?

You mean by oceans?
Why cant we not use deserts to seperate countries?
We have sub-sahara
we have supra-sahara.
And to make it even interesting we normally exclude Boer land - we say sub-sahara north of limpopo river - perfectly legit geography

AfriqueDuZuid:
Nah its by design north Africa is africa

You dont need to go hunting for a link. Or at least you dont have to get your gun. Just google and post.

jl115:
my bru.... Must I post the link?....its $1.25 trillion in 2022

Show me your picture in your ramshackle in soweto first. I keep tabs on these things. You dont. So respect some of us

AfriqueDuZuid:
Pull out the 2022 cos every source from 2022 is less than $50billion

That is fake Nigeria
Africa 1,275,297 2022
1,154,070 2021
1,013,530 2020

jl115:
check again, it's $1.25 trillion

South Africa GDP PPP ->
949,846 2022
865,816 2021
680,040 2020

Kenya
303,596 2022
274,067 2021
245,660 202

Just 3 times bigger....decade before 10 times more...next decade...Kenya overtakes south africa.

That is 2019 or something data. Concentrate on things you can argue about.

AfriqueDuZuid:
2022 info

Again SA top 4 banks assets are over $400 billion

Your English comprehension is fake. IMF is not fake. Nigeria GDP is fake. As for South Africa last I checked it was around 800B.

jl115:
the IMF is now fake?

You repeating - put the linl

AfriqueDuZuid:
. SA is $1.250 trillion

Sub-Sahara africa is used by many people including IMF/WB/UN. This is not my invention.
Infact the best would be SSA outside Boer land of South Africa
Because the region has similar xtics.
Magreb - North Africa and middle east - are grouped together.

AfriqueDuZuid:
Isnt it funny that yall always use race in everything

Here you are again excluding northafrica

Now even Info from sources like imf is fake cos....

What's next?

Slum dog, stop writting nonsense,
Your entire total banking assets are about 300B.
Kenya is now about 60B.
Nigeria is 110B.

Standard Bank is about 170B. That is just about 13 times bigger than Kenya equity now at 13B.
If we combine kenya top 3 banks their total assets are close to 30B...just 6 times or less than Standard Bank

AfriqueDuZuid:
Value of those

For example Just like in banking SA standard bank is more valuable 7 times more all banks in Kenya combined

Morocco and Egypt n Nigeria has lesser number, but they all have more value than that of kenya

You dont have indigenous talents - you have diaspora kids coming to Nigeria to try the impossible - before failing. They soon realize they are spending more money and time buying generator fuel than running their business and paying tonnes for security.

They should have listen to their parents who swear never to go back to Nigeria.

GeneralDae:
I swear. It's shocking the amount of foreigners in their tech sector. Imagine we allow these amount of foreigners into our techspace combined with the indigenous talents and potentials we already have. Mehn.

That would be the fake Nigeira GDP PPp. I think your's is about 800b.

jl115:
you do know SAs GDP ppp is $1.25 trillion

This was almost 10yrs ago

Kenya’s insurance market will grow two fold in the next two years according to assurance, tax and transaction advisors Ernst and Young (EY). The fastest growing sector in Africa was reported to be Kenya’s insurance sector, which generated insurance premiums to the value of approximately $1.8 billion in 2014 (the largest in sub-Saharan Africa outside of South Africa).

Hell yes. Kenya insurance and re-insurance boost of more than 50 companies in kenya and many have expanded regionally.

AfriqueDuZuid:
Kenya 2nd?

Hell no!

Africa Reinsurance is not Nigerian.
Africa Re was set up by 36 African states in 1976, following a recommendation of the African Development Bank (AfDB), to develop the insurance and reinsurance industry in Africa through increased underwriting and retention capacities, and to support the economic development of the continent.

obaaderemi:
One boy was talking about reinsurance companies from little India yesterday...
Africa's biggest reinsurers, where's Kenya?

Baseless rant.

vaxx:
very archaic way of reducing poverty among numerous turkana. Many people will not make a positive used of it. It will largely be spend on food and water they are lacking . Build a rich food and water secured environment first .

You are only creating dependency by rewarding indolence. Rather fight government overspending , create decent national borrowing , focus on proper economic growth . All this positive response yield into poverty reduction. It has been proving that a real GDP growth not the (fake statistics) reduce poverty by 1 percent , using Paul money to pay peter doesn't . Too many money thrown at the poor can't eliminate poverty . A good country should rather eliminate redundancy in tech, agriculture, education etc. There should be free education to the basic ,most importantly,acualization of skills. Endowment like land and natural resources should be well managed and not taking by foreigner etc.. foreigner shouldn't get the best part of you.

Country where skills are in abundance hardly lack (no poor skillful country) . Increased your welfare on that first ( then introduce a social security for the less privileged) i.e , those who are biologically incapable to work .

Mad man..take your meds. The redundancy is starting. It's downhill from here.

Just40:
Focus on curbing the massive forex smuggling in Kenya that cause you to lose 6 billion dollars yearly through dubious schemes like this... Your central bank says it gave 770 million for shoe import and your country only imported 6 million pairs.


Kenya has the highest forex outflows on the continent and it all has to do with the fact that Indians and Chinese own everything in your country so the have to repatriate that much money yearly

It was hard but we didnt have to sell equity and most of us succeeded. Now they fail almost 99 percent.
It easy but also hard to survive because of easy money

68816419:
crap

The idea was hatched in 2001, and sketched out on a paper napkin in the restaurant of the Intercontinental Hotel in Nairobi. “Actually, we didn’t set out to do payments,” says Bolaji Akinboro, co-founder of Cellulant. “We set out originally to sell music through mobile phones.”

But what he and co-founder Ken Njoroge had stumbled on was a wider problem in need of a solution. Musicians were using mobile phones to sell to ­audiences. The payment processors at the time were the mobile-phone companies, and they were taking an eye-watering cut.

“About 70-80% of gross value was going to a billing partner. So if we solved that problem, then we would have a business that would be attractive to other people, too,” says Njoroge. Cellulant pivoted from being a mobile-content music provider to a payments platform for music. It started doing bill payments and ultimately became a multinational fintech company.

[quote author=68816419 post=118883916][/quote]

No, it's more like you should go back to grade 1 and learn basic arithmetics. For a country to import 770m worth of shoes - they must wear golden shoes, sit on golden stool and dsheit golden stool.

Just40:
good luck

It is more like a forex smuggling scheme .... This is how your country lose 6 billion dollars yearly in outflows

I got a job with Ken Njoroge - he was CEO of 3Mice - as university student.
They were building websites. Those days you could get 10 million Kshs to build websites - html mostly.
I didn't take the job - I decided to go elsewhere - ended up working for UN.
Anyway, Ken met with Nigerian- and later started Cellulant.
I dont know if M-pesa had started - but Ken was very ambitious
Obviously, everyone knows Cellulant is Ken Njoroge ...not NIgeria.

If I recall the Nigerian was working for world bank in Nairobi

68816419:
black Kenyans you guys are nothing
These Are The 12 Most Funded Startups in Kenya

I just looked at The 12 Most Financed Startups in Kenya, and none of them are truly owned by Black Kenyans. In fact, Nigerians actually control Kenya's tech industry, as evidenced by the ownership of the highest funded firm in Kenya (CELLULANT) .

We are very rich if we can buy each shoe for 128,000 dollars. This makes us the richest nation to ever exists.

Just40:
sorry to burst your bubble..
Your country does not produce shoes of significant quality hence spend 770 million dollars importing 6 million pairs of shoes.

Next assuming