₦airaland Forum

Actually I checked again. He negotiated for M-pesa licenses. That is key for Safaricom.

Big positive rapid changes happening in #Ethiopia’s telecom & financial services sectors.

Safaricom granted license to offer mobile money (Mpesa) services (video). It’ll compete with EthioTelecom’s new Telebirr which signed 23 million+ subscribers in less than 1 year.

Wuoche:
Why do you guys like giving Ruto credits which are not his? The guy is barely a month since he became the president and with that frame time, he can't negotiate any deal that it's results can be seen within 24 days. Just to be honest with you, right now Ruto is still enjoying the fruits of UHURU.

Ethiopia forex regulation is the albatross to investing there. Kenya flower companies saw dust. You can invest but dont hope to take money out soon.
https://twitter.com/PatrickHeinisc1/status/1577706825226457088/photo/1
I see @flyethiopian already points out new forex regulations. The laws of #Ethiopia must be respected, but if a gov. cannot afford the exchange rate and forces people to exchange $1 for 52 birr while any trader on the street would give 100, it is kind of stealing from the people.

I dont see how Ruto has contributed to this. But yes he did manage to get wheat deal. Ethiopia are doing great stuff in agri sector - they will move to wheat surplus - from producing 1.5M tonnes to 2.5M tonnes. Ruto secured a deal to import Ethiopia wheat. There is a lot we can import from Ethiopia...though getting dollars out of Ethiopia is akin to pulling your teeth...so you have to invest for long term...you aint repatriating profit any time soon.

Kenya we are stuck at 0.35M tonnes of wheat.

Shma2022:
Had underrated this guy, Ruto. But as things are, he's a strategist. A performer.


Safaricom has officially penetrated the Ethiopian market. That is a great move!!

https://www.reuters.com/business/media-telecom/kenyas-safaricom-launches-network-ethiopia-first-private-operator-2022-10-06/

Some of those stats people just quote out of thin air. Yes there is corruption but 50% sounds way too high. Wage bill alone is almost 50% (way above the recommended 35%) with teachers taking the lion share. You cannot steal wage bill (unless you have that many ghost workers). That leave the 50% to be split btw recurrent expenditures (office supplies) and development vote. I am assuming debt is being refinanced. So essentially a percentage of recurrent expenditure is stolen (inflated tissue paper) and of course development (10-20 percent rent seeking of any contract).

So I'd say max being stolen would be 10-20% of the budget.

tylann:
The problem is not tax collection its expenditure 50% of all tax revenues is lost through corruption

Last year it was 2.03 trillion kshs that almost 20b in ordinary taxes alone..this year it's up 20 percent almost....and we have not added non tax revenues.Ruto gov intends to move it 30B ordinary revenues in next year https://www.google.com/url?sa=t&source=web&cd=&ved=2ahUKEwjp36DHvM36AhUMw4UKHTynCiYQFnoECBMQBQ&url=https%3A%2F%2Fwww.kra.go.ke%2Fnews-center%2Fpress-release%2F1752-kra-exceeds-revised-target%2C-records-highest-revenue-growth-in-history%23%3A~%3Atext%3D2.031%2520Trillion%2520for%2520the%2520Financial%2C(FY%25202020%252F2021).&usg=AOvVaw0sd9dUqbuXGoYGG1AYy2oq

obaaderemi:
Nigeria needs to collect more tax from its non oil sector. It's not about increasing tax but but widening the tax net for more capture.
It's already happening but not fast enough. For example, 2021 non oil revenue is double that of previous year at $10bn. Oil revenue was $20bn. That's a total of$30bn.
It's still almost double what Kenya makes. Kenyas total revenue is $17bn.

Kenya ordinary taxes are approaching 20b..total revenue are more than 20b.Your zoo has a long way to go

Airlines are strategic assets for a functioning country. Besides GoK spend billions in travel - as civil servants have to travel - so that kind of cost - aint going away. What is percentage of Ghana gov money that goes to foreign airlines alone.

Just40:
Those who don't make profit hit bankruptcy.... KQ I'd no different

So there is nothing wrong with Nigeria economy. It doesn't need to diversify anymore. The generator powered manufacturing is doing great. The hoe powered agricluture is doing wonders. Nigeria economy remain OIl and nothing. That is why since Oil had issues in 2010 or around - it's been under recession. If Oil wasnt an issue - you wont be getting sick with oil prices.

obaaderemi:
This confirms what we've been saying for long. The Nigerian economy is more diverse than many believe. Because of oil, people usually disregard the contribution of the non- oil sector.

Few airlines make profit. KQ is flying. Nigeria Airways has been bitting the dust since most of you were not yet born. KQ generates more than a billion in revenues annually. It own subsidiaries that make money like JamboJet, Precision Air,. It transport more than 2 million passengers annually and tonnes of cargo.

10yrs ago - Ethiopia Airline was not making profit - KQ was making profit.

68816419:
How can an aviation industry that hasn't produced any gain or profits since 2012 be named among the finest in Africa? Man, KQ is just a hoax and a way for the politicians to launder cash and drugs . surely, We all know that your major supermarkets have been producing false data to make them appear positive, thus the truth regarding KQ will undoubtedly be revealed shortly.

Sounds like bla de bla of a goat. Get us proper stats. My 4B estimate is based on top formal retailers. Biggest in Kenya is Naivas - with 84 stores - they gross about a billion dollars in revenue annually. I am not interested in make belief figures. Jumia entire global operation total sales is less than that...their revenues not even 200m dollars.

GeneralDae2:
13 billion dollars is not big at all. I don't blame you because of how small the Kenyan e commerce shopping is. Your man said Kenyan shopping is worth 4 billion dollars, if that is true, then even 13 billion dollars is underperformance for Nigeria. We want to get to 75 billion dollars.

Again Jumia wont be struggling if Nigeria did e-commerce. Konga is dead. Those gov of Nigeria stats are not worth a warm spite of saliva.

GeneralDae2:
What in the world are you smoking man? . U.S did 811.6 billion dollars as at 2020.

In 2021, total US ecommerce sales reached $959.9 billion, an 18.3 percent year-over-year increase from $811.6 billion in 2020. It's significantly less than the US ecommerce growth rate of 2020, during which total sales increased by 42.4 percent year-over-year from 2019.

https://www.oberlo.com/statistics/us-ecommerce-sales#:~:text=US%20Ecommerce%20Sales%20(2012%E2%80%932022)&text=In%202021%2C%20total%20US%20ecommerce,%2Dover%2Dyear%20from%202019.

US doesnt even do that much online shopping.

GeneralDae2:
76.7 million people who shop online is over 1.5 times Kenyan population. They can also transfer and do e-payments effortlessly due to the advanced fintech payment sector in Nigeria.

Usual Nigeria gov wild guestimates. Find us something credible.

GeneralDae2:
The current e-commerce spending in Nigeria is estimated at about $13 billion per annum, and is projected to rise to about $75 billion in revenues per annum by 2025. The market outlook for Nigeria’s e-commerce shows that the number of online shoppers in the country, which was at 76.7 million in 2021, is expected to hit 122.5 million by 2025. The figures from the Nigeria Inter-Bank Settlement System (NIBSS), also shows that Nigeria’s e-payment transactions increased by 85.5 per cent year-on-year to N171.99 trillion in August 2021,” he further stated.

https://www.vanguardngr.com/2022/08/nigeria-to-redress-poor-investment-in-e-commerce-to-meet-75bn-revenue-target-2/#:~:text=Recently%2C%20the%20sector%20has%20grown,revenues%20per%20annum%20by%202025.

You would agree with me that 76.7 million customers is already bigger than the population of Kenya.

What is wrong with an empty account. It just a RECORD IN A DATABASE. It cost almost nothing for banks to create bank account in this 21st era. Everyone deserves to have bank account, ATM cards and name it. Even if they receive money once a month.

obaaderemi:
So how come South African, Egyptian and Nigerian banks are bigger than yours? Since Egypt has 48% and Nigeria has 51%. That means Kenyan accounts are mostly empty.

Once Equity get done with DRC and Eth - they will go and take that 100M pie from right under their nose. They will put the first branch in Makoko slums. It will world first floating bank branch . The amount of money in those mega slums is huge - and competition is under the matress.

Wuoche:
Bank yourselves first. An entire 51% of the adult population is are banked yet your are talking about banking.

They have innovative Fintech but their banks I bet spend half their time buying fuel for generators to run ATM and other critical servies. Must be hell of on earth. I guess every bank has Chief Petrol Buyer, Chief Generator Operator and entire department to just run power backup services.

How do you innovative when half the time 1) You're worried about Generator running out of fuel 2) Thugs

Wuoche:
Their banking system is very weak.

You're funny. Do you know why Kenya local banks routed big banks like Barclays and Standard. The had been in Africa for 100yrs but only banking 5% of the population. When Nigeria banks went to DRC - you followed the same model. Heck concentrate on Nigeria - you have 100M people there who need banking services.

Now with Equity and KCB in DRC - in 2-3 yrs - everyone in DRC will have a bank account - even if they live in the slums of Kinshasa. They will be give small loans.

obaaderemi:
You are not smart. How can Kenya be the trailblazer in banking the unbanked when we showed Kenya the way to DRC?

And General DOE will claim Nigeria made 13B dollars of e-commerce through the dead Konga and dying Jumia.

Wuoche:
Share of population above 15 yrs doing online shopping.

Why are they even expanding when they have close to 100M - another Ethiopia to be banked.

Wuoche:
Only 51% of Nigerian adult population has bank accounts. This is much lesser than 88% of Kenya and 82% of South Africa.

Your expansion strategy is bone-headed. You go everywhere and buy the cheapest smallest struggling bank you can get - spend years cleaning their balance sheet. You give South Africa competition in burning capital.

Kenya expansion is well thought out - and strategic - with intention to turn profitable in 3yrs or bow out. This cut across most kenya companies. The only place kenya companies have got burnt so far is South Sudan - another Zoo like Zoogeria - with currency like Ghana Cedis and Zambia Kwacha.

DRC and Ethiopia represent the last frontier of banking in Africa - combined market of 200M - with almost 90% unbanked. Kenya banks are the trailblazers in banking the unbanked - and these are the models that is seen them overrun DRC. Equity was tiny banks 10yrs ago - but now it behemooth - it was not even a bank 20yrs ago - it was building cooperative society.

This is why Equity is studied in Harvard Business school - for banking the unbankable and making serious money.

obaaderemi:
The Kikuyu1 guy is a crackhead. Don't mind him. There's nothing Kenya can teach Nigeria about banking. They're actually learning from us. The DRC he is braying about had Nigerian banks before Kenyan banks. The Kenyan banks followed a path beaten by Nigerian banks to DRC.

Out of the 16 banks in DRC three are owned by Nigerian banks. Kenya has only one.

General DOE - Where did you get 13B dollars of e-commerce in the Zoogeria
Start here ->https://s23.q4cdn.com/836376591/files/doc_financials/2022/q1/JMIA-Q1-22-ER-17.05.22.pdf
Jumia Globally cannot even cross a billion dollars in sales. That is including Kenya, Nigeria.

Look like globally they are doing GMV of 1B but revenues of 200M dollars.

I guess we have to do this ritual annually. Show me 13B dollars worth of E-commerce in Nigeria. That would be very impressive.

GeneralDae2:
Nigerian total banking asset is over 140 Billion dollars this year 2022. So you see yours is about 2.5 times or more less.


Neither Kenya or Nigeria are doing that much better than the other in this area. Here is a list of the top 100 insurance companies in Africa.
Nigeria has 3 companies represented in top 50 there and Kenya has 2. The list is dominated by South Africa, Morocco, Algeria, and Egypt.
https://atlas-mag.net/en/article/top-100-insurance-companies-in-africa


You are truly a clown. Kenyan pension fund is 4.4 Billion dollars. That of Nigeria is over 30 billion dollars. This seem to be a waste of my time.

https://english.news.cn/africa/20220218/c53f374bfde94b3c8ca911391e9d574a/c.html

https://www.worldstagenews.com/2022/03/04/nigeria-pension-fund-assets-rise-1-37-to-n13-61trn-in-jan-2022/


Are you for real? Twice bigger? Nigerian total market cap is 66 Billion dollars with about 49000 basis points and 161 companies listed. Kenyan market cap is about 18 billion dollars and reducing significantly. That's close to 4 times smaller than that of Nigeria (dominated by indigenous companies who do not have to threaten the market with capital flights when there are global problems). What in the world are you smoking man?


Speaking out of conjecture again?? lol. You should not be taken seriously really . African bond market is dominated by South Africa, Egypt, and Nigeria. These are the competitors in the bond market. Kenya is not close.



Nah, Fintech, we are not neck to neck. Yours is doing well, at least due to Mpesa, but we have a more advanced fintech market than yours, that's why MTN momo just being introduced are to target the unbanked in rural areas to make up 70% of their customers. Because they are coming into a market whose Banks have lots of options and not one single dominant option.


In what world is that even possible?


You are a joke. MTN made 1.65 trillion in 2021 (3.7 billion dollars). Airtel also made close to that. Glo made over 1.5 billion dollars.
MTN has 78 million active subscribers in Nigeria, Airtel has 56 million and Glo has 38 million.
How on earth are you comparing this kind of a market to that of Safaricom in Kenya?


Our Agriculture data can't be dodgy simply because we import lots of food. We are one of the dominant players in about 4 out of the 7 major staple foods in the world.


Next time when you want to reply me, don't speak from your ass. E-commerce alone in Nigeria is worth about 13 billion dollars. Konga and Jumia, two of five top e-commerce companies in Africa have their biggest markets in Nigeria. A market with a plethora of other booming and upcoming e-commerce platforms.

Those informal sme's in Nigeria make up about 45% of the total number of sme's in Africa.

Meanwhile DEFAULT real possibility in GHANA - The unusual domestic restructuring will crash banks - causing huge crisis. Domestic debt is repaid by printing money if revenues cannot pay for it - that means devaluing CEDIS - not asking local bond holders to take a hair cut. Never happen before - gov should never default on domestic debt - when they can print the money.
https://www.reuters.com/world/africa/default-a-real-possibility-ghana-fitch-senior-director-says-2022-09-21/
"Default is a real possibility," Fitch Senior Director Mahin Dissanayake said during a press briefing.

"Ghanaian banks...hold large volumes of government securities, so debt distress is going to put a lot of stress on the banks," he said. "The operating environment is looking very fragile."

As Ghana export is messing UK - original Ghanian in Accra is doing crazy stuff - restructuring domestic debt to meet IMF bailout conditions. Never happened before in any country I know of around.
---
Ghana is considering reorganizing part of its $19 billion of local debt in order to secure a loan from the International Monetary Fund. The changes may impose losses in capital and interest payments on investors, according to people familiar with the matter.Sep 23, 2022

Sector 1: Financial and Intermediation.
Last I checked Kenya total banking asset was 55B dollar against Naija 110B.
Your insurance sector is very small - Kenya is 2nd to South Africa in SSA
Your pension fund is also not big.
Your stock exchange last I checked was twice bigger than NSE - Nairobi.
Your bond market, PE and name it I bet is smaller than Nairobi
Fintech we are neck to neck.

Sector 2: Telcom - I can bet by now Kenya is equal to Nigeria all things considered.
Safaricom 2022 revenues 297B kshs. Nigeria MTN did 950 B Naira...I think you know the exchange rate is now 1:4. That means Safaricom alone earnt more than 1.2 trillion Naira.
For example - your fixed broadband is 80K while kenya is 1 Million. Average per connection folks pay 40-50 dollars. So you're talking about 600M dollars hapo kenyans with proper internet...which is dream for Nigerians. Still running off a generator and mobile broadband...while many kenyans now have fiber to home.

Sector 3: Your agricultural data is doggy - pure guestimate of a druken sailor at stats office. There few formally marketed goods - and even few exported agri goods. We know you still import lots of food.

Trade: Again which trade - it's totally informal retail and wholesale - Kenya at least has very good formal retail - with sales from formal supermarket chains I bet crossing 4B dollars now.

GeneralDae2:
Lol, it's like asking: Remove Tea, Flower, and Mango economy- what do you have left in Kenya?

I have told you to debate me on our non oil sectors as well, those sectors are still way bigger than those of Kenya and you know it. You guys are quiet hilarious.

Nigerian Banking
Nigerian financial markets
Nigerian Telecoms
Nigerian Agriculture
Nigerian Trade

It's laughable to think you compete with Nigeria in all of these areas.

KQ still flying - Only Ethi (impressive top 30), SAA and Air Maroc better than KQ

Kenya Airways dropped three places in the latest global ranking of airlines, trailing its regional rival Ethiopian Airlines, which recorded a significant jump to fly within the top 30 carriers in the world.

Skytrax World Airline Awards—which rates the world’s best carriers— placed KQ in position 81 in this year’s ranking, down from 79th in last year’s report.

Ethiopian Airlines, which rose 11 places to position 26, emerged as Africa’s best carrier with South African Airways and Air Maroc coming in at position 66 and 79 respectively to stay within the top 100 carriers globally.

Nonetheless the Brits will blame him, Ghanians and all black people for messing their economy.

Just40:
He's not the one crashing the British economy... The Brits played a dirty geopolitical game and they lost badly and now economic pressure from every corner is bitting them badly.

You don't bit the hand that feeds you... #Russian money run the UK.

Kwarteng's intervention is brilliant, it is meant to slow down what is happening but he has no control over many of the factors.

Playing a dirty game in favour of Charles Schwab WEF against your own economic interest was stupid.

Everyone saw this coming

Just40 and other Ghanians - Can you tell Kwarteng in Twi language to go slow - in revenging the Golden Stool 76Billion dollar scandal. He is literally crashing the British economy.

What exactly is wrong with Maasai housing? Maasai dont have jiggers, they are lean, and etc.
They take their kids to school.
They live their own peaceful live.

Just40:
so many cattles yet they're still this poor?

Haven't adapted to a better way of building such that 45% of Kenyans live like they are in 1912…

What happened to improving ?

I have seen better properties in the northernmost part of Ghana where temperatures can hit 45 degree Celsius without AC and fan but remains very cool and they have floors with ceilings.

Yes, Safaricom with M-pesa, hopeflly KCB and Equity full entry, then Moyale road - we all set; This could have serious multiplier effect; Ethiopia is virgin market of 110M people emerging from communism.

kikuyu1:
Mzee, don't be too hard on these guys. Rmbr they're a product of generations of such terrible miseducation they'd have been better off totally illiterate!

Couple Safaricoms move with KCB & Equity bank entry and a game changing socioeconomic/political move is underway.
Any reasonably intelligent human can comprehend not just enormous economic spin offs but also soft power benefits from this move.


https://dictionary.cambridge.org/dictionary/english/soft-power

Once you stop wearing that unmodern clothing the Maasai will also wear British suits, live in modern British houses, eat modern British Breakfast and retire to modern British beds.

For now - they have chosen on their free will - to live that way. So have many kenyans. Others of course live in slums - but some have chosen to live in those mud houses.

Maasai for example have so many cattle - they can sell three bulls - and build a modern house - but they dont.

Just40:
building a hut does not mean you should have that many and they should sleep in dust and sand....

Atleast they should have modernized their huts to have good flooring.

It is a deprive way of living and to have as many as 45% of houses like that, is depressing.

What wrong with Africa hut or Maasai Manyatta. Cow urine eradicate jiggers . These very cultured people. In place like Turkana or NEP - they dont even need to build anything; they can get a tent ; it too hot

Maasai construct mud roofed house; mud walled; they never have jiggers or anything; they dont need ACS or fans despite living in semi-arid areas; they dont need blankets at night;

Very ecological dwelling if you get over the cow urine smell that they apply to keep flies and fleas out.


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

Just40:
it's cultural for people not to live in better dwelling places?
It's cultural for people to sit on dusty sandy bare earth to eat, chat and sleep?

Anyway