Rvp2018's Posts
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When will gold plated Ghana or oil depend Nigeria get here...kenya semi-arid zero mineral country - and you dare gives lectures about economy and development. NAH. Nigg.ah
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You can never compare kenya macro-economic and Ghana. Nobody will invest in a country whose currency is prone to hyperinflation like Ghana. Nobody will invest in a country whose macro-economics are unstable. Stability and predictability - low risk - that what Ghana has never nailed - nobody want to sleep with Cedis and wake up tomorrow to find they lost value. That is why your economy is still dollarized. Kenya macro-economics are solid - lasting many years. We have had very minor issues - that we have immediately corrected. That is why when you see Nairobi or Mombasa and compare it Accra or Kumasi you want to CRY. And we dont have Gold, or Oil, or Aluminium, or Diamond. We got nothing. We dont have enough arable land...just 11% of the land. Just40: |
True - the entire political class is very corrupt - and that makes it a non-issues. The question is who in the corrupt political class can get some stuff done. That is real differentiator. tylann: |
Usual madness. Last year this time - Cedis was exchanging 5.80 to a dollar. As we speak now - it 7.6 cedis to a dollar. That is serious depreciation. Kenya SHS has depreciated from 110 a year ago - to now 116. Our debt to gdp is not even 70 percent Base lending rate is 7 percent Our inflation is single digit. In short slowpoke - Kenya will and has always been miles ahead of Ghana despite your minerals. Just40: |
Ghana the mini zoo can never lecture kenya on anything macro-economics. You look for company in your fellow brodas NIgerians. https://www.reuters.com/world/africa/ghana-imposes-record-interest-rate-hike-slow-inflation-2022-03-21/ Meanwhile, Ghana's cedi has weakened by about 20% against the dollar this year, making it the second-weakest currency after the Russian rouble in a list of some 20 emerging market units tracked by Reuters. Addison blamed that in part on recent downgrades by credit ratings agencies Moody's and Fitch, which he said shook investor confidence. Ghana's total public debt stands at $50.8 billion (351.8 billion Ghanaian cedi), according to central bank figures, about 80% of the country's gross domestic product. Ghana announced its biggest ever interest rate hike on Monday as it seeks to slow rampant inflation that threatens to create a debt crisis in one of West Africa's largest economies.The Bank of Ghana raised its main lending rate by 250 basis points to 17% ![]() Bottomline - GHANA ECONOMY HAS/HAD COLLAPSED. |
You are still screaming - like the market madman. Kenya is doing way better than Ghana - whose cedis collapsed at some point to 8.4 to a dollar - 18 percent deprication in single quarter - WORLD WORST performing currency according to Bloomerg. Our inflation has risen by 1 percent (underlying) - and headline by 2 percent - yours at some point was up 20 percent - worse inflation since 2009. https://www.africanews.com/2022/04/13/ghana-s-inflation-hits-highest-since-august-2009/ Ghana is a MINI ZOO. Nigeria is a main Zoo. Kenya is a progressively run country that went through small problems after drunkard president dropped the ball. Kenya can will fix that problem in less than 100 days. Just40: |
First Nigeria and Kenya cannot be compared. You got very very serious problems. Start first by fixing your education system - and getting millions of kids out of school back to school. Then fix electricity . Then fix pretty much everything that is broken in your country...which is almost everything. Now let move to Kenya. Yes Uhuru was always a drunkard. That we knew. That is why we gave him Ruto to help him steady the ship. The first term was great - gov functioned like a clock-work - a lot of work was done. Electrification rate that world fastest - paving of 10K roads - name it - it was huge success and they were re-elected by an even bigger mandate than in 2013 (when both were facing ICC crimes against humanity charges) The 2nd term was premised on what they called BIG 4 agenda. Then fallout happened. I have spoken to people close to Ruto. They tell me It was down to Uhuru alcoholism, and laziness. DP Ruto was very upset when Uhuru said they should shelter the big four agenda and change the constitution - in misadventure called BBI (which was invalidated by high court, court of appeal and finally the Supreme court). Ruto was like "BOSS, my job is only to advise and assist you. I think we should implement this thing to the end; let's stick to the promise we made to Kenyans" .The next day Ruto started getting signals. Soon, it was a total blackout. 4.6 years later we have a mess. Unbekonwn to many Kenyans - Uhuru seeing himself as "too young to retire" was trying to find means to extend his stay in power. Thankfully our independent judiciary stopped him right on time. Uhuru with his known drinking problem has almost driven kenya to a ditch - he has borrowed in 2nd term more than in 1st term - with almost nothing to show - it's gone to recurrent expenditure (Nigeria style). The gov has become totally dysfunctional it last held a cabinet meeting two years ago. Covid and Ukraine thing have compounded the problems. Now we are going into election - it's btw Ruto and Raila (the guy is trying for 5th time - but is frankly too old and weather beaten - another Buhari who is sleeping on meetings). Ruto on the contrary is very brilliant, very determined, natural leader and very effective. Ruto is leading in most opinion polls and I think if he wins - we would be in very good stead. Kenya has to fix minor issues compared to Nigeria. What we are trying to fix is manufacturing, more food production for all, better housing for all and free healthcare for all (Ghana has done this). obaaderemi: |
Kenya is far from being a zoo like Nigeria. I know you're looking for company in your misery corrner but none of our problems are systemic. They are just as result of current government dropping the ball the last four years. The drunkard president has not even held a cabinet meeting in the last two years. The kenya economy is still expected to grow at 5-6 percent this year but few issues structural changes needed. I believe Ruto's so called bottom up economic model - will within 1yr have steadied the economy and it will fire in all cylinders. 1) Debt - about 70 percent to GDP - we need to stop borrowing - and start to finance infrastructure through savings & sale of gov assets (more privitisation). 2) We have to reform public sector - KQ for example is bottomless pit - there are many SOES - parastal - that needed to be privatized. More importantly - we need to fix joblessness - and under-employment - that is affecting about 15M adult Kenyans. 1) 8M of 15m are farmers - we need to fix our agric sector. 2) 8M are informal sectors - we need to implement the Big 4 agenda that Uhuru has failed. Housing alone can employ 4 million people...that willl build upto a million housing units. Uhuru unfortunately has delivered very little. Manufacturing push is also now possible with strong infrastructure...Lamu free port can become big SEZ. Stuff like fuel shortage - those can be fixed in a single day. Remove the fuel subsidy. In short Uhuru has dropped the ball - but he has 99 days to go home. All that is needed is to implement the last 5yr plan - so called big four - Food, Housing, Manufacturing and health care - with seriousness it needs. We have to write off the last 3yrs due to COVID/RUSSIA/Elections - external factors - and our own internal (lack of leadership as drunk Uhuru became Buhari - an illiterates who should never be near presidency of any country leave alone Nieria )obaaderemi:
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kikuyu1:Raila doesn't understand anything about economy..his educational background doubtful and would take us back to moi era dictatorship and kleptomania..at worse time.Ruto is brilliant, hardworking, go getter and is multi talented.. definitely would make a great CEO. |
Unfortunately the current drunkard president Uhuru has dropped the ball - and kenya is on throes of an economic collapse. For first time in anyone memory - kenya are queuing for petrol like Nigeria. The forex(dollars) are being rationed. Inflation has risen to 8 percent. Things are starting to look and sound like Ghana...a small zoo..on the way to hopeless big Zoo of Nigeria. Kibaki found an economy that was in recession - and quickly grew it to 7 percent - by slashing interest rates, balancing budget, reducing debt, growing revenues, and turning around the economy. Kibaki unfortunately was poor politician - slept on political front - and had to rig his re-eleciton leading to almost civil war that brought the economy down to 1.7% and many deaths & destruction. But after a coalition gov was negotiated, he again turned it around growing it by 8-10 percent before exiting. And of course delivering the 2nd kenya republic with new constitution. Now Kenya is here- broke & choking in debt - led by a drunkard - but fortunately we have three months to right the ship in the next election.
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Kibaki became 1st African to score 1st class degree in London school of economics - having also scored 1st class in Makerere and was always top in his class. Kibaki was appointed as Minister for Finance in 1969 and Kenya recorded economic growth rates of up to seven per cent and Kibaki’s sterling performance in that docket is widely known that World Bank President Robert MacNamara once described him as “one of the greatest economic brains to have emerged from Africa”. In 1977, the Time magazine recognised Kibaki as one of the African leaders of the 21st century, with high potential. In 1981, the magazine again named him among its annual top 100 people who could lead the world in various capacities. Kibaki on family planning https://www.youtube.com/watch?v=0TWc_5LWroo
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Kibaki rebuilt the economy that had been ravaged by Moi dictatorship and kleptocracy - rebuilt infrastructure and lead to economic boom that saw economy grow from -2 percent to 7 percent in 5yrs.
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Kenya buries it's 3rd president - one of africa most intelligent leader - who transformed kenya economy from 1960s. Kibaki was top on class right from grade 1 throughout his degrees at Makerere and London school of economics. He helped designed the economic policies that transformed 89 percent semi arid no resources Kenya now into Africa largest non mineral economy. Kibaki and late Tom Mboya designed Africa socialism economic policy that transformed kenya in 60s into competitive economy growing at 6-7 percent despite having zero minerals and limited arable land. He became the finance minister for most of 70s and 80s. Became opposition leader for most of 90s...and eventually became president in 2003. Despite old age and two strokes that hampered his mental acuity - he put kenya on transformative path - that has since the economy grow 7-8 times in 20yrs....from 12B economy to now 110B.
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Epic drone shot of Nairobi elevated expressway as it near construction - about a year ahead of schedule. Incredible. Those who think Joburg is far ahead of Nairobi need to come and check in 10yrs. https://www.youtube.com/watch?v=pDvYvOf4xpQ |
Tatu City - I was passing there today - Moderna 500M dollar investment will be set up there. President Uhuru Kenyatta today in State House, Nairobi witnessed the signing of a memorandum of understanding between Kenya and Moderna to establish the first mRNA manufacturing facility in Africa.
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PetroDolla2020:
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The final stages of Nairobi expressway - flowers - all trees cut will be replanted back
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Kenya is moving ahead... PetroDolla2020:
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Long story short. Fix this. Copy kenya and have Tourist Police Unit. Tourist issues are unique and cannot be dealt by any local police. Tourist Police Unit The Unit is established to support the following functions of the Kenya Police Service in accordance with Section 24 of the National Police Service Act, 2011. i. Protection of tourist‘s life and property ii. Provide security and safety to tourists iii. Handle and receive inquiries, claims and complaints by tourists iv. Investigate tourists related crimes and prosecute offenders v. Patrol beaches, hotels and tourist circuits street/roads used by tourists with a view of averting attacks on them vi. Provide escorts to tourists vii. Protect tourist from harassment by beach operators, parking boys and hawkers. viii. To offer general advice and guidance to tourists ix. Assist tourists during cultural festivals. Kazikazi: |
Agreed. This fuel subsidy is bone-headed idea that has never worked. Nigeria is good example. Kenya got it's first fuel crisis - just four months after the fuel subsidy. It's better to let people absorb the price increase than attempt to subsidize fuel prices. Anyway we still have four months of this gov that seem to have completely derailed. obaaderemi: |
This has never happen before. Some idiot in kenya gov decide to have fuel subsidy - that has messed up Nigeria. GeneralDae: |
400,000 deaths? or meant 4,000 road accident deaths. Jamestown123: |
Quote that Bloomerg article mad cow. Just40: |
Pure madness - especially base rate is 17.5 percent now - that mean commercial interest is 30 plus now. And dont be a fool like west africa - who get monthly interest rates - Interest rate is annual - and therefore if you bank quoted 10 - just know you're paying 120 percent. Ghana Bank Lending Rate - February 2022 Data - Trading ...https://tradingeconomics.com › Ghana Bank Lending Rate in Ghana averaged 29.59 percent from 2005 until 2018, ... is the average rate of interest charged on short term loans by commercial banks .. Just40: |
According to Reuters - you're teetering on collapse https://www.reuters.com/article/ghana-rates/update-4-ghana-imposes-record-interest-rate-hike-to-slow-inflation-idINL5N2VO30Q?edition-redirect=in Meanwhile, Ghana’s cedi has weakened by about 20% against the dollar this year, making it the second-weakest currency after the Russian rouble in a list of some 20 emerging market units tracked by Reuters. |
Kenya roads are heaven compared to your potholed moon like surface roads. Now tells me how you will maneuver the debt crisis - when already 2/3 of budget is going to paying debt. Cedis is collapsing. Interest rate is approaching 20 percent. Sound like you can teach Zim and such countries how to do this. Just40: |
Ghana the mini zoo hikes base interest rate from 14.5 to 17% as the cedis continues to collapse. Base/key interest= is what gov borrows at. You can expect commercial interest to be greater than 30 percent - as it must factor inflation, risks and profit margin. Seem they are heading for a crush! Ghana pays 2/3 of budget revenues for interest expenses. Second largest among emerging and frontier markets after Sri Lanka! Very little room for maneuver.. |
Nairobi the Africa Capital Center - Joburg seeing dust earlier than thought. Skycrapper roads and building.
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Your tax collection outside mineral is 5B or about - about twice Rwanda - with oil and gold - it goes to about 10B. Then your borrow annually about 7B to make budget of 17B. It's hard to have adult conservation with a mad cow like you. Just40: |
The same informal sector can be formalized. Formalized mean if it's hawking - they need to be registered - it's need to be orderly - probably organized into cooperatives - wearing uniforms - it need to respect the right of business owners - you dont just come and set up infront of someone else shop - who is paying taxes. They can also agree with shop owners on time to operate - maybe from 5 pm - when they close shop - they come and set up in the streets. This what happens in most developed cities - street vendors are allowed to operate in late hours and weekends - then they fold their stuff and disappear in the morning- and then 8-5pm - you let formal business generate taxes. Otherwise you gotta Ghana like situation with formal sector totally non-existent - and cities look like cattle kraals. Your have almost zero tax collection outside minerals like Nigeria - because formal sector pay taxes - the street hawkers cannot. Just40: |
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- an illiterates who should never be near presidency of any country leave alone Nieria )