₦airaland Forum

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

It's more cultural and apt for enviroment - it's not cold like cement - I guess you draw the cultural line in clothing?

Just40:
So 45% must live in squalor such sandy dusty houses?

REMOVE OIL ECONOMY - and what do you have left in Nigeria. Nollywood?

Balogunodua:
Run off generator that made your economy inferior to ours abi you fustrated Kenyans are just to dumb for my liking.

70% of kenya is rural.

Just40:
Anyway, may I ask why 45% of the 11 million houses in Kenya leave their floors as bare earth/ sand or just dungs, without any kind of concrete flooring or anything?

Maybe if you spend more time on serious stuff 1) you wont have sold millions for clothes 2) you wont be running off generators. What is in a piece of clothing?

We are discussing serious stuff 1) 2-3B dollar investment on Ethiopia virgin telcom sector 2) Possibility of opening up of their financial sector.

Fourpockets:
I don't know, English?
But on a serious note it feels strange, even in Nigeria, our president hardly wears colonisers suit, he will rather wear traditional

There are lots of controls to ensure we got the census right including household surveys way before the census; we dont want a Nigeria where everyone inflate their figures to get more federal allocations.

Just40:
another deflection noise ....

Counting by elimination... Deliberately reducing the numbers for certain regions after they were counted, which caused huge uproar in your society only tells us why everyone kept your population figures at 53 million in 2019 ..
By that figure, your population will be around 58 million today.

No crazy rants pls

Kenya is starting to make great sides in fight against graft.
Asset recovery authority has managed to seize many illicit proceeds
And the judiciary is finally handing huge sentence - this guy will pay 1B kshs fine or 67 years in jail

When you claim there are 60million kenyans - after we spent 200M dollars counting only 47.5m - then you can only be a mad cow.

Just40:
facts make you scream madness


Is that the only thing you have when your guess work doesn't hold water?

Which colony own suits?

Fourpockets:
Why is Ethiopian PM wearing suit? I thought Ethiopia wasn't colonized?

Ruto visit Ethiopia to Launch Safaricom Ethiopia as Uhuru joins Obasanjo to find peace in Ethiopia down in South Africa

I hope Ethiopia will allow foreign investment in banking and other sectors

The usual madness

Just40:
another excuse

Backwater stuffs are not permitted in Ghana so you won't find any... The fact that most of that 1800 stations in Kenya are backwater station show how underdeveloped your downstream sector is.

Also, please don't paddle numbers...

Ghana still consumes more fuel than your country of 60 million people

If you count backwater filling stations - you will get higher number. Definitely kenya consume more fuel than Ghana. Last I checked Kenya was doing 6.5 billion litres..Ghana about 5 billion...despite using a lot of it to generate electricity.

I can only imagine what goes on in the Zoo where everyone runs a generator.

Just40:
crazy number paddling

You mean 1800 in your skeletal insignificant country?

How is Feb 2022 old news. NNP has never made profit in its existence. They recently cooked books but cant remit any dividend. Repairing old things - is part of expenses - you can't declare profit with leaking pipes. Fix the pipes first. That is why to this day NNPC the biggest Nigeria company has never paid dividend to it's owner - Nigeria gov and people - in history.

samorobo:
Old news. Get a grip of yourself.

Kenya is not a Nigeria zoo. DSTV Kenya is owned 40% by Kenya gov through KBC. GoTV like any other foreign company had to sell 30% shareholding to kenyan to operate.

MultiChoice Kenya is jointly owned by Kenya Broadcasting Corporation (KBC) and MultiChoice International with a shareholding of 40 percent and 60 percent respective

And there are kenya paytvs - Zuku/Star- many others.

Massmart failed everywhere including Nigeria. Kenya retail is firing in all cylinders. Nigeria is still informal market.

South Africa failures are their own - Carrefour (French retailer) - came to kenya in 2016 - and are now making serious profits.

Retail chain Carrefour Kenya's sales surged 25.8 percent to Sh32. 9 billion (one billion Emirati dirham) last year as it opened more branches and attracted more customers to its stores concentrated in Nairobi.Feb 28, 2022

obaaderemi:
Old man Kikuyu, ask yourself why gotv and DStv remain the biggest paytv companies in little India. Are they not South African companies. Why are they still in little India and the south African retailers are leaving.

Truth is your retail sector is bad. That's why they're leaving. Where's nakumatt today? Nakumatt used to be little India's largest retailer. It died a painful death. Your economy does not support foreign investment. No wonder your fdi inflow is so tiny. Come on, you of all people should know this.

Yet another south africa company retreat from Africa - minus their shirt.

“Massmart initiated a process over a 12-month period to investigate... the opportunity to sell our East and West African stores to local investors. Unfortunately, this initiative did not deliver a meaningful outcome,” the company said.

Massmart chief executive Mitchell Slape last year said the chain had begun a formal sales process to divest five Game stores in Nigeria, four in Ghana, three in Kenya, one in Uganda, and one in Tanzania.

https://www.businessdailyafrica.com/bd/corporate/companies/south-african-retailer-fails-to-sell-game-stores-opts-to-close-3974166

NNPC-It has never made profit for 45yrs - and has never paid dividend.
Compare oranges with oranges.
Kenya SOES in oil industry are Kenya Pipeline,National Oil of kenya and KPRL (Kenya Oil refineries) -
Kenya Pipeline almost annually makes 100M dollars in profit - and has therefore earned Kenya gov billions.
And has never made a loss.
How do you make loss selling petrol or gas

Kenya Pipeline - manages the downstream finished oil product pipeline from Mombasa to Nairobi, Kisumu, Eldoret and Nakuru

KPC Managing Director Macharia Irungu said over time, the company had provided a good return on investments to its shareholder.
"We have grown to be one of the largest parastatal in Kenya. During the last eight years, we have generated over Sh80 billion in profits before tax and paid over Sh 50 billion in taxes to the government during the period,"Irungu said.

samorobo:
We are talking NNPC vs your use flying coffin. The former which is Africa’s largest retailer keeps making profit,the letter is just a hopeless hot mess waiting to be dissolved. Stop wasting your money and end that dying venture. Put it to rest

When your dead airline start kissing the sky again - not biting the dust - please come and shake this place. I hear you've called on Ethiopeans to help you. It's hopeless mission

samorobo:
When they happen come shake this place up else stfu and keep praying for profits.

How is Nigeria Airways? Still biting dust? KQ will be back to profitability soon - 2024.

samorobo:
Stop splitting hair,let’s just assume what you are saying is true. NNPC yas been making profit since 2019 till date,KQ can remember the last time it’s balanced it’s sheets. Talk of the present and stop glorifying the past. KQ is an absolutely,a butt of joke for lack of a better word. There is no success in that muppet.

Stop this implusive urge to call everything largest in Africa. OANDO is unknown. In downstream business Nigeria is crap. You cannot beat even Kenya there.

Kenya alone - There are over 1,800 service stations in Kenya operated by more than 70 registered oil marketing companies that are involved in the supply.

Here is the distribution of petrol stations per county from the highest to the lowest;
1. Nairobi County - 324
2. Nakuru County- 230
3. Kiambu County - 208
4. Uasin Gishu - 181
5. Meru County - 173
6. Machakos County - 165
7. Kakamega County - 139
8. Mombasa County - 138
9. Bungoma County - 136
10. Kilifi County - 135
11. Kisii County - 122
12. Trans Nzoia - 119
13. Kajiado County - 117
14. Kirinyaga County - 112
15. Kisumu County - 107
16. Muranga County - 106
17. Homabay County - 96
18. Kitui County - 93
18. Kericho County - 92
20. Nandi County - 92
21. Migori County - 91
22. Siaya County - 91
23. Makueni County - 91
24. Bomet County - 90
25. Busia County - 84
26. Embu County - 81
27. Narok County - 81
28. Nyeri County - 75
29. Nyamira County - 69
30. Laikipia County - 67
31. Kwale County- 56
32. Tharaka Nithi County - 54
33. Nyandarua County - 53
34. Vihiga County - 52
35. Elgeyo Marakwet County - 49
36. Turkana County - 40
37. Baringo County - 40
38. Taita Taveta County - 39
39. West Pokot County - 35
40. Lamu County - 30
41. Tana River County - 21
42. Wajir County - 20
43. Marsabit County - 19
44. Samburu County - 17
45. Garissa County - 17
46. Isiolo County - 12
47. Mandera County -11

obaaderemi:
Cooked books indeed. It acquired Oando, one of the largest petroleum products marketing companies in Africa with cooked books. Then more of cooked books, please.

Bitterness is bad for your heart.

Example 1:

Equity Group 2nd biggest in Kenya, Uganda, DRC, Rwanda - and also top 10 in Tanzania, South Sudan and with eye on Ethiopia.

Equity Group is the largest bank in the region with assets of USD 12 billion. It is also the largest bank in terms of deposits, with a market capitalisation of USD 2 billion and a customer base of over 15 million. The group has 337 branches, 56,772 agents, 32,269 merchants, 697 ATMs and has widely adopted digital banking channels.
The Banker's Top 1,000 World Banks 2021 ranked Equity Bank 761 in its global ranking, position 39 globally on return on assets, position 71 on return on capital, and position 149 on soundness (Capital Assets to Assets ratio). The Banker's Top 100 African Banks 2020 ranked the Bank 7th among the top 10 banks in Africa, 5th for strength, 9th for growth performance, 8th for return on risk and 6th for profitability and leverage category. In the same year, Moody's gave the Bank an overall rating of B2 with a negative outlook, identical to the Kenyan government's sovereign rating, due to the Bank's strong brand recognition, strong liquidity buffers and resilient funding profile, well-established national franchise, and strong adoption of digital and alternative distribution channels

AfriqueDuZuid:
Again to what extent, what are total assets and money flow in those subsidiaries?

Are those in top 10 in those countries

It's pointless to say you dominate by mere number while in actuality they just part of small businesses.

Good move. I would keep shareholding at 51% for gov.

Shaytun:
NNPC is going public.

Government will only own 41% stake.

And that’s the way it should be, government have no business running company.