₦airaland Forum

What are you saying Niggah? Want to write in Twi? or this just beyond your paygrade??

Just40:
typical Kenyan lunacy.

You do realize that things are far better in Zambia than in Kenya?

You do realize that you can't default on your domestic debt right? You do realize that you borrowed them in dollar denomination right?
You do realize that if Kenya default on domestic debt with it has to pay in hard currency, a lot of Kenyans will have to sell their wives to European tourist right ?

The cascading effect will be so dangerous for your society.

Dont gorge yourself on external debt. You need to develop domestic debt market. Nigeria has done it. Kenya has I think 2nd most advanced domestic debt market after South Africa.

Instead of flouting Eurobond - float domestic bonds.

You're exposed to exogenous or external risk like Ukraine with external debt - and it out of your control

Just40:
Your really desperate..... We are in 2022 and not 2000.

If Kenya was spending 20% of revenue to service external debt in 2000, how much was it spending to service it total debt in 2000?

How did things get so bad that you're not spending 80% ?

1) Ghana debt to gdp is now 83 percent.

Ghana's Debt 2022
According to its April 2022 Fiscal Monitor report, the country's total debt was estimated at 81.8 per cent of GDP in 2021, higher than the 80.1 per cent, approximately GH¢351.8 billion quoted by the Bank of Ghana.Apr 26, 202

2) Ghana servicing ration - debt to revenue - 72 percent

In 2020, debt service alone (paying interest plus amortisation) consumed 70% of revenue. That's close to the level of 72% before the country subscribed to the Heavily Indebted Poor Countries initiative.Feb 20, 2022

Just40:
the data still remains that Ghana spends 45% of revenue to service debt.

As for debt coupons going high, it's normal economic response to tightening.


How will Kenya pay it public servants should be your major worry as a Kenyan right now..

Not being able to do that will lead to a messy collapse.


Instead if blabbing help Kenya

How will you understand when you're mad?
Ghana and Zambia are cojoined twins for as long as I can remember.
You always make the wrong choices.
Kenya majority of debt is domestic debt. It impossible to default on domestic debt. Because gov can just mint money and pay off.
Now we are very very careful with external debt.

Move to Ghana - you have almost very little domestic debt - and lots of external debt.
External debt is paid in dollars.
Your cedis depreciate by 20 percent - you need 20 percent more dollars to pay off.

This is why you're likely to default - EXTERNAL DEBT

Just40:
explain how Ghana will go burst when it only uses 45% of it revenue for debt service ?


Economics is really not your thing.


Of all the countries you're so desperate to get to Kenyas level, Kenya will most likely go burst out of all of them.

With Kenya spending 80% of it revenue to service debt, it is no wonder that that zoo can't afford to buy fuel.

Currently you can't even pay your public servants unless you borrow, that is how bad things are for you.

If you think Kenya will default anytime soon - then you got jokes. If kenya did not default in 90s - it cannot now.

We have very low external debt. Most of debt is borrowed from kenyans. Gov can just print KShs and pay it off.

We only spend 10 percent of our revenues to pay off external debt.

Bla de bla of a bleating goat.
The data is here...

Just40:
The only country following Sri Lanka right now is Kenya with your current desperate food queues and fuel queues.


Next will be your current election getting messy because of the level of poverty on your streets

Ghana eurobond is now junk - yield of 15%.
People are dumping it - because they dont see Ghana being able to pay up.

The countries likely to go burst in next few months are these.

Facts are stubborn. Ghana is most likely Srilanka. Next Ethiopia (civil war)
https://www.bloomberg.com/news/articles/2022-05-17/sri-lanka-default-hints-at-trouble-ahead-for-developing-nations

At least 14 developing economies tracked in a Bloomberg gauge have debt yields at an excess of 1,000 basis points over US Treasuries, a threshold for bonds to be considered distressed.

The added pressures of rising food and energy prices has already started to bubble up in other countries, including Egypt, Tunisia and Peru. It risks turning into a broader debt debacle and yet another threat to the world economy’s fragile recovery from the pandemic. Pakistan, Ethiopia and Ghana are also in danger of following suit , Bloomberg Economics said last month.

Balogunodua:
Rubbish... trying to be clever

Sri Lanka says hi! because Kenya is probably next in line...

Nigeria debt to GDP ratio is moderate and it debt services means nothing so long that our robust economy is capable of paying our debt without default like Kenya seeking Euro bond to escape it debt default...

Again all we need to do is expand our tax net which the government is doing right now, so we are good to go..while Kenya is about to go Sri Lanka way, but much worst.

Why not end the fuel levy - that is costing 9B dollars - and inject the money in free primary school - especially in the north. It obvious the current generation is beyond salvage. At least try to save the next generation.
https://www.reuters.com/world/africa/nigeria-expects-fuel-subsidy-could-cost-96-bln-2022-oil-prices-rise-2022-04-09/

GeneralDae:
This is why I miss former finance minister Kemi. She was working seriously on expanding our tax net. If we expand our tax net, we don't even need to borrow. I can't count how many jobs and businesses people around me venture into all the time without even thinking about taxes.

I believe now they are past 80 percent. Unless something is done urgently esp to stop cedis depriciation they are going to default.

gallivant:
No need for explanations. Save it for the IMF loans committee.

https://pbs.twimg.com/media/FR44TTPWYAMNXW6.png

Debt to GDP is good indicator.
But not as good as debt to revenue or tax...servicing ratio...or ability to repay..or how much you will spend to repay the loan annually
Nigeria is at 100 percent.
Kenya is at 50 percent on tax - and 35 on revenue.
Idealy a country like an indiviual should not exceed 1/3 of his income in paying debt.
S0 kenya is slightly not okay.
Nigeria is a zoo!

The fake GDP will not pay debt. It's gov revenues that repay debt.

Balogunodua:
The hellhole called Kenya is in debt crisis.. Kenya dept service cost makeup one third of it forex reserve..dumbo.


You debt to GPD ratio is 68% almost 70 and you are here vibrating while you country is falling into an endless pit of dept.

Ghana borrowed Eurobond that is not ringfenced to any project. It worst FORM of BORROWING. You just borrow and dump the money into the budget - if it stolen or misused then you get debt trap without anything to show for it.

Chinese loans are ring fenced to a project. For example - Kenya borrowed 5Billion dollars for SGR - we didnt get the money - we got the railway. We have borrowed another 3B dollars from China - we didnt get the money - we got roads, dams, and such.These are tangible projects that even if they are not profitable (they are not suppose to be) - we will have them for years - and the will produce multiplier effect/

But Eurobond is risky - it send Zambia to crisis - and Ghana is next.

Countries should borrow Eurobond as last resort...it better to borrow from China or Africa Dev Bank or World Bank or even French Dev or Japanase Dev Banks...who will RING FENCE the money into tangible projects.

African gov with their corruption should NOT be given money - just like that. We need China kind of loans where you barely get to hold the money - they give the loan - and pay the chinese contractor - you get what you want - a road or railway or dam or power project.

After few years - if anyone ask where 10B dollars Ghana gov has borrowed went into - there is nothing - just blank stares. If it was China loan - the chinese would take you and show you this is the money.

vankelvin:
Ghana, Kenya not looking good on the map.

When your President borrows like his head no dey function this is what will happen , afterall Uhuru did something with the money but not the one in my country so clueless yet they claim he is the best President in Africa

obaaderemi:
You are in pain. How does what you said make sense?

Nigeria then borrow to pay salaries... remember debt repayment is first priority..so get money repay debt then borrow to survive

Nigeria is worse because it uses more than 100 percent of its revenue to service debts.

Naijasauce69:
Interesting statistics of various African countries chronic debt ratios…

It depend on what kind of tourist they are 1) Ghanian visiting Nigeria 2) Benin coming to Nigeria 3) Nigerian diaspora visiting with foreign passport 4) Indians and Chinese coming to work illegally in Nigeria using tourist visa.

Otherwise if you're talking about tourist coming for vacation - few people are that insane to visit Nigeria. Nobody even sell Nigeria as tourist destination.

obaaderemi:
Nigeria and Ghana receive more tourists than little India. You've laid that to rest since.

At least Mini Zoo ghana is doing baby steps - I hear lots of Kenyans are in Ghana managing hotels. Improving service levels and such . Kenya is far far ahead in tourism. Kenya Utalii college is as much sought as swiss hotel schools.

who wants to be kidnapped?
Who wants to endure electricity blackout?'
Who wants to endure bad roads or impossible jams?
Who wants to endure poor services?
Who wants to visit a zoo?

Some of these grandiose projects cannot work..until Nigeria fix BASICS. Security first. Electricity second.

The Zoo - is crazy. Even Skyscrappers in Lagos and name them are dysfunctional - lifts dont work - the upper floors are used as toilets - and bats home.Some have been half burnt. Majority are condemned and unoccupied. It crazy.

Tayser:
Who knew?? Obudu Cattle ranch, Tinapa Mall, and the whole ecosystem, once the shining stars of Nigeria's tourism are now rustier than the Ajaokuta Steel works!


https://www.youtube.com/watch?v=skdYTQ2pC9s

Kenya electricity is almost as good as Europe; very few disruptions; maybe an odd day in a month lasting an hour or two. Internet in Kenya is incredible..fiber everywhere...speed better than most places.

Wuoche:
Your fellow countrymen are falling in love for Kenya.

Yes even within CBD - we need apartments buildings - that way most people will walk to work - this what happens in most cities - that drastically reduces traffic or need to own a car. So basically the future is mixed development. Of course for kenya people will have to stop hanging clothes outside their balconies; make the city ugly.

We should avoid cities sprawling - because even if you live in your own house 50-100km - commute will kill you.
Its better if we build tall apartments near offices and industries..

Generally slums are created because of that mismatch - so most slums are in nice areas - because poor cannot afford transport. These slums should be converted to affordable high rises.

Suburbs should only be for the rich.

NTSA:
True most developments coming up now are mixed use...more of a self sustaining community where you can live ,work ,shop and play eg GTC ,Two rivers etc.

That impressive turn around!!! That thing was dead. I have dormant account in it.

68816419:
Kenyans , all you need to do to a dying bank is to sell it off to Nigerians ,sit and watch out the out come in few months.
First, it was >GTbank formally Fina Bank (Kenya) Limited , then Uba, then Ihub( largest hub in Kenya) which became CChub, TeleKom Kenya, Access Bank (Kenya) PLC, formerly Transnational Bank Kenya PLC
Access bank Kenya is now making profits after just some few months..

Nope. Nairobi only problem has been to strictly separate office and residential zones. Now that tall apartments - 40 flrs are coming up in the business district- people can live and work in cities...without using anything but their bicycles or just walk - non-motorized. This reduces the need for transport for many - most big cities probably half transport needs because most people basically stroll from office to their tall apartments nearby.

Remember 40 floor building can squeeze in say 400 units - housing maybe 2,000 people. Try that in open spaces - it takes a lot of land. In Europe or name them - despite not having super-talls - pretty much everywhere is apartments - 5-10 floors tall - and then few rich guys in single dwelling units in suburbs - and farms pretty much in the city - because their cities dont sprawl into endless kilometres.

The more the city brawls - the more traffic you get. But if everyone lives a walking distance from the city - then majority - can walk to work - and few rich men can live in the suburbs.

QuietMynd:
Wrong.
U get it all wrong, in short it is the other way round.
Skyscrapers or not if the land is small nd population keep rising, there will be traffic. If Nairobi can get half of Lagos population with their skyscrapers, Nairobi will choke.
I ain't even capping.

Even if your permanently live in this forum - Accra will not get to Nairobi level in your lifetime

https://www.youtube.com/watch?v=dUwBpW8hlCE

Just40:
say it again oh

They are barely doing 6 or 7 million tonnes

Predictably the refuge of a scoundrel is base insults.

Balogunodua:
Yes...from your anus again

These are the latest figures
Nigeria cement consumption - 21M
Kenya cement consumption - 10m

Balogunodua:
Ye...


We have been hearing that since 2015 and Kenya still not on top cement consumers in Africa

I believe the debate was beyond your paygrade. Watch videos like this. This you can understand

https://www.youtube.com/watch?v=EK6FoXaKreo

Balogunodua:
Diversion com wailing

Nairobi is huge construction site. We are not only dreaming but we are converting those dreams into reality. Now 4th Most Dynamic City in the World. Only one in Africa.

What is coming up - all over Nairobi - 10yrs - Joburg will be shadow


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

Balogunodua:
Lolz...

Dream on bro, it good to dream

As you burst you veins with irrational anger, Nairobi is already considered the best city to work and live by expats in Africa (and top 10 worldwide), and Nairobi is nailing the few problems it has - roads, rail, water and garbage - every year Nairobi is making progress to make a great city.

Unless Nairobi drops the ball - it's will overtake Joburg and become Africa greatest city for sometime - because it has the fundamentals to become what NewYork, London, Tokyo and such city of Africa continent.


https://www.youtube.com/watch?v=r537VwdW1vE

Nairobi was already East Africa HQ and now is eating Joburg pie to become Africa HQ

https://www.youtube.com/watch?v=lMO0ZP6MLWM

I dont think anything I said is worth bursting a vein over. Relax. Nairobi is just getting started. Nairobi is building more skyscrapper than all Africa cities combined.

https://www.youtube.com/watch?v=9zQvPTPpPps&t=2s

Balogunodua:
Fumbling won't help you Mister and bring the so called fact from your anus is disgusting....get that.


The generator powered economy as a GDP bigger than the whole Kenya..that truly is the only stubborn fact you can't dispute..

Quick example Knight Frank - Africa reports

Africa Offices Dashboard - Q3 2021
Nairobi accounted for 30 percent of office space demand in entire Africa. People dont just wake up and build skyscrappers which cost money to to erect and run...they build them because there is demand for office spaces or rental apartments.

https://content.knightfrank.com/research/2261/documents/en/africa-offices-dashboard-q3-2021-8600.pdf

Nairobi is going to continues seeing demand for office blocks because it's a magnet for multinational who want to set up African operations - previously they would go to Joburg - but now they can find everything they require in Nairobi - which is more centrally located to act as nerve center of Afrca, has well trained English speaking proffesional to be hired, and dont have that much crime - and unlike Lagos - you dont have to run a generator and hire police escort.

Nairobi rise will continue...and will overtake joburg in 10yrs...to become Africa biggest city (not in population) but in infrastructure...while Ghana Accra will compete with Lagos in West Africa.

There are people who study these things because they build or advise people to build hotels or office blocks or retail or warehouses. Lagos despite having less than Nairobi - has an overcapacity. That tell you the Lagos economy is mostly informal.

GeneralDae:
Are you sure about this? Because although Lagos is about 60% the informal sector, I am still sure it's formal sector is bigger than that of Kenya as a whole not just Nairobi. I did a google search of the list of firms or formal companies in Lagos and I got 33501 results and definitely not all of them need skyscrapers.

Informal service industry will not generate office spaces. It will generate street hustlers and hawkers. It will generate flea markets, corner shops, pop-mom shops and other such informal retail, accommodation and even manufacturing on the streets.

Nairobi has MORE FORMAL office, retail, hotel and formal warehousing space than Lagos. There are gazillions reports out there on this - from Knight Frank, PWCs, name them

These are stubborn facts that your generator powered economy cannot match.

Balogunodua:
You are saying nonsense again...the generator powered economy as you said is the 7 largest economy in Africa larger than the whole Kenya...you must be joking when you said that..service industry still provide bulk of Nigeria GDP with Lagos having the lion share, so what all this service fumbling you are making? How does Nairaobi beat Lagos in Office demand is the question you should answer my friend.



Nigeria still has more service industries than Kenya and generates more money from it than Kenya.. FACT