₦airaland Forum

There many parameters - p2p, m-commerce, etc - so be careful out there

GeneralDae:
Kenya's Q1 mobile money use is 15.6 Billion dollars.

https://english.news.cn/africa/20220524/9c004d1e81d74cf7b78fca452e03dc33/c.html

Mpesa transactions just only more than half of Kenyan GDP ( probably 60 Billion dollars)

https://fortune.com/2022/03/08/mpesa-fintech-safaricom-innovation-kenya-africa-mobile-money-unbanked/

There is almost nothing you can teach us Nigeria.
We send engineers to China.
But even more than that we had China come to kenya and expand our existing Railway Institute of Training.
Now it regional(Africa outside RSA) school of railway engineering.

Kenya Railways Trainining Institute.
https://www.rti.ac.ke/
The Railways Training Institute now has the capacity to train up to 800 Kenyans using the same standards used to train the SGR Kenyan staff who undertook a training exercise in China.
The institute has been upgraded at a cost of Ksh1 billion and it now includes modern laboratories and technical workshops that will be crucial in training the people who will work on the SGR.

samorobo:
Lol alll this noise for what exactly? Oga get your locals to incorporate with the Chinese in construction or fold your hands and watch them keep giving you substandard infrastructure like your entire sgr and more recently that stretch of road that will faded out in 6 month max

Less than Kenya MPESA - now close to 300B dollars - mobile money transaction alone.

Safaricom records show the mobile money platform increased the total value of transactions by 34 per cent last year to hit the Sh29.5 trillion mark for the financial year ended March 2022.

This saw earnings from the platform increase to Sh107.7 billion having grown from Sh82.6 billion in 2021, indicating the increasing importance of M-Pesa to Kenya’s financial sector.
https://www.pd.co.ke/commerce/m-pesas-transactions-hits-sh30-trillion-126812/

GeneralDae:
Cashless transactions in Nigeria rose 44% year-on-year in Jan-April 2022, to hit 117.33 trillion naira (280 Billion dollars). This is 35.79 trillion naira more than the 81.54 trillion (194 Billion dollars) in Jan-April 2021.

Source: NIBSS NGR.

Japan only mistake was to miss the computer/ict revolution as they focussed on robotics otherwise Japan and South Korea are very rich countries. Economy in developed world is stagnant. It true in Europe - and even in the US (which mostly an exception as it attract immigrants).

tylann:
Always wondered with South Korea and Japan work ethic it also baffles me why Japan's economy has stagnated for 30 years and korea is kidnapped by family businesses

Malawi is going broke - next Ghana

KQ suspend flights due to foreign currency repatriation difficulties

I dont think problem of Africa engineers is technical; there has been no technical advancement in building a railway since 18th century; it remain civil works to flatten the ground; tire two wires together and pour ballast; or building a paved road - remain civil work to flatten the ground, foundation, pour tar or bitumen; difference is minor standards btw countries on the size and dimensions;

Chinese dont have advance tech they use to build their roads or railway compared to Africa contractors. What China have is work ethic - top notch project management - they work 24-7 on a project - and that is what makes all the difference. Generally you need maybe one engineer for every 1,000 workers.

Africans have been sending millions of it professional to train, school, live abroad - but they come back to - to find a culture that reward laziness, corruption and they get used to it.

Few countries that have succeeded in Sub Sahara Africa in stamping out laziness or lack of discipline for me has to be 1) Rwanda 2) Ethiopia. Ethiopia under Meles were able to build about kilometres(not sure) of railway entirely on their own. Rwanda have done incredible job to build discipline in their society.

Chinese are doing great because they work harder than anybody else - they work 7 days a week almost for 12hours everday if not more - Japanase and South Asians generally do the same - that culture of hardwork is what is totally lacking in Africa.

theenchanter:
May God, any of the gods or Gods actually bless Amaechi, our minister of transportation. Dude made sure Chinese Engineers, in collaboration with Nigerian Engineers built the rail lines, he specifically told them not to bring any Chinese Engineer where a Nigerian Engineer can fill.

He even went as far as sending some 200 Nigerian Engineers to china to understudy how train mechanical structures are made..... we now have a train wagon plant here and the Nigerian Engineers have been tasked to build every civil works of rail lines project.

Knowledge transfer 101.

Nobody is going to lend you anymore. Dont even think about it. Even debt vultures will not touch a skunk like Ghana.

Just40:
The graph means absolutely nothing ...

It just mean that is Ghana wants to borrow, it will be expensive.



Unfortunately Kenya so badly need debt and without it, the entire country will collapse and if it borrows too, the entire country will collapse because it won't be able to repay the loans.

You see how desperate things are for you, no wonder you guys are so desperate here.

We are not Ghana morons - we have always manage our public finance prudently.

Just40:
So Bloomberg is no longer credible ?


Before Ghana will go burst, Kenya will not exist as a nation on the map.


Especially with using 80% of revenue to service debt.
Why do you think you currently have fuel lines and food scarcity ?

Why do you think government workers haven't been paid for months in your country ?

Factual

Study this graph keenly - and start to dollarize.

Just40:
so now you don't have more domestic debt than external, you rather balance ?

When will you stop telling lies just to make a point ?

You do what 70% long interest what?

Your debt servicing cost is 14 billion dollars per annum... Tell me more about long servicing..... Stop lying and your country will developed properly.


Ghana has 48% 52% external and domestic debt, last I checked..

Deal in facts

FACTS. Quote data from somewhere credible. Stop heckling. You country will go burst while we are here.

Just40:
Your country borrowed foolishly and spent on unprofitable ventures and now it is unable to pay it public and civil servants because debt servicing is 80% of revenue.

It is even not able to buy fuel..

Economics is not your thing humble yourself and be taught simple stuff

We balance - 50 percent domestic; 50 external; of the external; we avoid commercial loans like eurobond; we do 75 percent zero interest long maturity development loans from china/worldbank/and such...these are concessional loans...that you dont worry about.

Now move to Ghana almost 80 percent external debt; almost 80 percent of that external debt is commercial; CRAAZZZZZZZZZZZZZZZZZY

One good thing - you're in good company in Ghana - everyone there seem to been mad !!

Just40:
only a fool will out borrowing the private sector in the domestic market .... No wonder Kenyan private sector is not able to create enough jobs for Kenyans because they can't really expand profitable businesses.


A govt duty is not to borrow in the domestic market when it needs funds.
This is counter productive


You simply don't know much about economics

You respond with evidence - not diarhoea!

Just40:
first of... Get your facts right

Ghana debt to GDP is not 70%


Ghana debt to revenue is 45% as at April


Now what's your next desperate excuse for Kenya 80% debt servicing?

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..