₦airaland Forum

Kazikazi:
Son,you starve.Should we regress and starve like u? Or are we suppose to destroy electric SGR and use diesel so that we can be in your level?

Do u even know how electric railway lines look like?

You lead Africa in malnutrition..45 percent..no wonder you're stupid,short and weak in both work and sports.Drink milk,eat meat,fish,chicken and start leaving maize for cow feeds.

Mombasa city doing as great https://m.youtube.com/shorts/Dla4ua-Lg6g

vaxx:
This is Ghana from a Kenyan perspective.


https://www.youtube.com/watch?v=jIXkNzkC6YA

Small zoo looking for validation in 28 acre airport city...that not even at eldoret city level.10 floors buildings.

Kazikazi:
Zambia has more arable land.
Kenya can still utilize the little arable land they have through irrigation, but sadly,only 9% of Kenya's arable land is under irrigation

Kenya past growing maize for humans...biggest demand is coming from silage and animal feeds...as we have Africa biggest dairy.What you do in you backward country is always two decade behind kenya

Obaaderemi2:
You said debt was a good thing because you built your age with it. I told you it would create problems and you would be faced with default issues. You said your government got assets and shares in safaricom it would sell if pushed to the wall.

Yes debt is good.its a leverage. It's a lever a country use to do public investment. But you have watch it carefully..when we crossed 60 percent..debt to gdp..uhuru should have shifted to privatisation..selling safaricom..and debt refinancing. He kept on borrowing..debt refinancing started late.Ruto is reforming privatisation laws so we can sell many kenya assets...that part of reforms. Kibaki use to finance budget half with debt..half with selling assets.Uhuru was a drunken fool and we are luckily he lost with Raila.We worked hard to kick him out.Now we have to clean up the mess...then go back borrowing responsibly

Obaaderemi2:
We told you all this during Kenyatta's time in power. You called us names as animals like gallipig cheered you on.

See, what an elder will see sitting down, a child can not see it even if he climbed an iroko tree. (Yoruba Proverb)

you don't recall Mr advising uhuru to go slow..do debt refinancing..use the search function

gallivant:
Read here..

https://www.reuters.com/world/africa/ghana-announces-external-debt-payment-suspension-slipping-into-default-2022-12-19/

The mad man is suffering from delusional thinking

Just40:
sleep

You don't have a brain for this convo.

If Ghana defaulted, it will be all over the news but it hasn't yet.
Learn what a ratings is🤣😂


All it creditors have been paid

mental illness

To his credit, he is not as horrible as the two Ghanian mad men we have to suffer here. He just think because Nigeria is a Zoo - kenya is also a zoo.

gallivant:
Deep discourse? You are asking too much from that slowpoke who thinks "little India" is a salient point to bring in a debate.

Of course - Ruto administration is keen to fix macro-economics and we will have fully stable macro-economics in 12 months.

There will be occasional pain - for example we already cut 3billion dollars from current budget - we are also increasing revenue collections - and by next year budget - we will have balanced budget (first time since 2006 or 2010).

We have option to go Ghana or Zambia way - become irresponsible, default , invite IMF.

Or become Nigeria or Zimbwabwe - print money - cause inflation - increase poverty - and become a Zoo.

Or having been irresponsible the last few years - we do what IMF would order us to do anyway - institute painful reforms.


Use 30 second to listen to this.

“The previous administration used to borrow money from banks owned by the same leaders to pay salaries,” DP Gachagua attributes gov’t’s cash crunch to shift from using loans to fund recurrent expenditure to relying on revenue collected. pic.twitter.com/MrwfXjzizG

— Citizen TV Kenya (@citizentvkenya) April 19, 2023

“The previous administration used to borrow money from banks owned by the same leaders to pay salaries,” DP Gachagua attributes gov’t’s cash crunch to shift from using loans to fund recurrent expenditure to relying on revenue collected.

Obaaderemi2:
This is from Kenya's Standard Media newspaper:
In a rare admission, the government
revealed it does not have enough money to pay for its
obligations from debts to salaries and pensions.

The baseless propaganda that Kenya is broke and didn't pay salaries proven wrong as kenya gov collects 2 billion dollars monthly in taxes https://www.businessdailyafrica.com/bd/economy/treasury-cash-data-fails-to-reveal-a-broke-government--4205740

Subsaharan:
For your country to take off like those countries you mentioned, you'll need to industrialize, and to do that, you are going to need to spend a lot of money. You're going to need access to cheap energy, raw materials, and a market. right now your government can't even pay salaries.

industrialization doesnt happens by accident..yes kenya is at most 10yrs from those countries. Ethiopia electricity is 3 cent usd.They will not industrialize soon.Its about many variables and factors eventually coming together..it not easy..many countries would have done it.You need to nail many things unless you're little country. It's like a ship turning...you won't see enormous effort until it finally turn..or aeroplane taking off...engine runs for hours n it's expend lots fuel..it take off....the pilot turn on autopilot.The difficult thing for an economy is take off.Then you effortlessly cruise 40k feet in the sky.Take off is the most difficult...

Obaaderemi2:
There's absolutely nothing to learn from a Kenyan. Our military is better than yours and higher ranked than yours. There's nothing to learn from a country that can not pay salaries and is on the verge of defaulting.

See typical zoogerian who think everything is a petty fight and is incapable of any deep discourse

Subsaharan:
getting more guns is not going go stop insecurity, bringing down unemployment would.

Reform your corrupt incompetent army n police..deal with welfare, equipment and morale..Reforms are painful..you're not ready because you fear return of military dictatorship.How can you transform your militia of 300k poorly trained,paid n unprofessional forces when you fear them..when they routinely beat you in streets.kdf beating civilian is unheard of in Kenya..ultra discipline, well paid,well kit, life insurance, well educated and well motivated

Things just don't happen..Kenya has moved from world highest growing population with tfr of 8 to now 3.1 by investing heavily in population control..with Africa highest contraceptive usage..dramatic story from 90s. Kenya invest 30 percent of its budget in education...definitely highest in world I bet.And for third world country it has middle class country quality of education. That is why Kenya online rip apart these poorly educated Africans.Finally Kenya infrastructure expansion for last few years is phenomenal..though it driven us to near bankruptcy

GeneralDae:
What is diversified about Kenyan economy?

Only South African economy comes close to being diversified in Africa.

List your top five sectors.

check kenya growth last 20yrs...and see how it has effortlessly weathered all economic storm without minerals. South Africa is very sick...its getting sicker every day..they lost decade of 2010s and are definitely losing another

Subsaharan:
what preconditions has Kenya met for your utopia to materialize? and please don't tell me your projection is based on exporting avocados.

Total fertility rate below 3 or 2.8.Education & literacy approaching 95..with education quality highest in Africa and decent basic infrastructure.The first will radically transform domestic savings n investments from household upwards. Education is of course greatest denominator n predictor of many things. The last is facilator or enabler.

Subsaharan:
It's always nice to see things from a perspective of someone looking in (even if I know you're trolling) you try to be honest.

Nigeria has only been postponing what should have happened a long time ago.

Let the subsidy go, eliminate forex regulations which have been a huge drag on FDI inflows and has cost of a lot of growth potentials in the last decade.
The labour unions have become political so I'm watching how events would unfold -June, 2023.

The Nigerian government would not be able to survive this conditions for another 6 months without defaulting.

The Subnationals have long defaulted and are chronicly bankrupt barring Lagos and the oil producing states.

Tbh, things are going to continue this way if hard decisions are not made by the incoming admin.

Only the elite have access to the official rates anyway, so apart from stupid pride, what is stopping the CBN from liberalising the forex market?

Two things need to happen in the next 6 months if we should have any hopes of turning things around.

Nobody would be willing to invest in any country if you're not certain about it's economic stability.

You're half way..those are macro economics reforms that are indeed imperative..invest in security heavily using money from stupid petrol subsidy... fix electricity that preventing south Nigeria from taking off..fix education that preventing North Nigeria from emerging from stone age. Fix macroeconomics, fix security, fix electricity and fix education. THEN WE CAN TALK...Nigeria unlikely to make any single reform though as it state if dysfunctionalism has become normal

Subsaharan:
Your economy is service sector bubble and would crash and burn at any slight nuisance.

Your economy is built on thin air

Well diversified economy like Kenya is very resilient..don't waste time betting on it..Nigeria oil based economy is in trouble. Kenya we are about to harvest fruit of our hardwork..in education, demographics and infrastructure. We are going soon into economic takeoff akin to what'd now happening in Veitnam,Bangladesh and India.Focus on important things and you might take off like is about happen in kenya.Meet the pre conditions of take off.

AfriqueDuZuid:
Lol durban is SA 3rd biggest



Your best competing with SA 3RD, if you think you are anywhere close to lagos you are dilusional

data spoke..not me soweto slum dog

AfriqueDuZuid:
Some say 3300 some say 8000

It's inconclusive

what conclusive is Nairobi overtaking Durban and nipping on lagos.kenya n Nigeria almost at par.

Legacy of Ujamaa; communism can generate jealousy because it is based on the idea of communal ownership and the sharing of resources. In a communist society, everyone is supposed to have equal access to resources and opportunities, which can create a sense of envy or resentment if some people perceive that others are receiving more or better resources.

gallivant:
😂 😂

Instead of working hard to surpass Kenya, they pray for calamities to hit us? That is a losing strategy that will keep them poor forever waiting for Kenya to collapse so they can feel important.

https://static.dw.com/image/43622966_905.png

KES is free floating since 1993 or about. Kenya has almost zero forex control unlike Tanzania.
Central bank of kenya occasionally defended KES on behalf of treasury by buying and selling dollars -
IMF thought CBK was "over-defending" KES - and technical analysis then showed it was over-valued by 27 percent.
They classified KES from free floating to managed float.
That was when it was at 100shs - so at 130s - we have achieved our devaluation goals.
And it should stay there.

So yes CBK should not intervene anymore in forex market using forces of demand and supply - different story from Nigeria where CBN just decide to peg the Naira to figure.

Naira is artificially pegged.

As for you main interest - Kenya economy would have been 145B this year (we are 14.5 trillion KES now) - if we had kept it at 100 to a dollar.

Now it 120B dollars - you still cant and wont catch up.

Kazikazi:
IMF is telling the CBK to float the currency now,this is a story of few days ago.But as usual you try to lie by saying the IMF told cbk when the Ksh was 100 per dollar which is last year.A lie.
The truth is,IMF wants ksh to float while your currency is already at 135 per dollar.That means expect the Ksh to fall more and your GDP will be under 100b and TZ will rebase her GDP which will go up above 100b.
A very good moment to be alive

This is from 2021 - Kenya Chief Economist - explaining overdraft from any central banker is printing money
David Ndii
@DavidNdii
GoK print money whenever it utilises its Central Bank overdraft facility (allowed up to 5% of audited revenue by law). It also earns “seignorage revenue” from supplying money to the economy—paid through CBK dividend.
https://twitter.com/DavidNdii/status/1442433973938950147

data for data sake; Nigerians; Zoogerian; West Africans;
A morally bankrupt country.
A financially bankrupt country.

Sukuk bond/Treasury bonds/ - are part of deficit financing - and that is not money printing - because that is Nigeria gov borrowing real money.

Not printing money - leading to increase in money supply - causing inflation - weakening naira - creating poverty.

Overdraft is not sukuk or treasury bills or treasury bonds - it simply printing money.

GeneralDae:
That 100% debt servicing to revenue is just data for data sake. Nigeria has other means of revenues from within such as Sukuk Bond and others.

FAAC or FUC.KC or whatever are revenues
Debt servicing to revenue in Nigeria already exceed 100%.
Now Nigeria has three options - ask CBN to borrow from Nigerians as Tbills and Tbonds.
Or ask CBN for overdraft - to print the money.
Under Buhari the printing has reached 50B dollars.

There is nothing special about Public Finances of Nigeria.

Countries that print money do exactly that - take overdraft or do QE
Overdraft - print and give money to federal gov of Nigeria
QE - print money and use it to buy assets like banks or name it.

GeneralDae:
FAAC is shared every month in Nigeria approximating 2 Billion dollars with reports on where they come from. The Bulk of it is oil and non-oil taxes. If the Federal Government at any given month shares FAAC that comes from CBN lending, it would be out in the open. I know what the functions of CBN are but you want to impose salary payment into this discussion because you saw Overdraft.

He nearly died from depression when Magufuli who was to overtake Kenya died Now is daily praying for the day BONGO LALAS overtake kenya. Never gonna happen when average Tanzania is mentally deficient.

gallivant:
Kenya is ahead of Bongolalas. I can sleep peacefully. ✌

You're thick-headed.
The first charge on gov account is DEBT DEBT DEBT - otherwise you default
NIGERIA ALREADY SPEND 100% of its revenue servicing it's DEBT.
Technically after paying debt - it has nothing LEFT IN ITS COFFER.
IT BORROWS OVERDRAFT - now running whooping 50B dollars ( how much rice can 50B dollars grow )
2nd Charge is now Salaries and O&M
Last charge - if funds available - are development or infrastracture.

GeneralDae:
There is no report the overdraft was specifically used to pay salaries. Every month, Federal Government shares money to states and Local Government. These monies are usually gotten from taxes and oil revenues combined. That's what's used to pay salaries .

I am saying because reports call it overdraft doesn't mean it was used to pay salaries. No evidence of that. It was rather used to embark on new programs and projects and multiple lending.

Read my comment well, don't write like a wannabe slowpoke.

Magufuli was your twin - small minded who think development is running around like headless chicken. We had Moi doing that for 24yrs and the results was a collapsed economy.

Economy is run through BRAINS - not brawl. Magufuli was fingered by IMF for cooking data - after he realized - his running around produced opposite effect - low economic growth.

Under Jakaya Kikwete - TZ economy was growing at 7% - now you're doing 3-5%. You're not growing. Kenya has increased the gap on you.

KES is free -floating but IMF & many thought it was over-valued (@100) - this USD run has done the devaluation(130) - it's now where it supposed to be. Uhuru had also mismanaged thanks to self-interest the forex market - with crooked banks cashing a billion dollars - as inter-bank forex collapsed and opaqueness set in - infact even black market was starting in Kenya. Those are now sorted. KES is free floating, forex market and the rate you get from everywhere is the same.

Naira needs to devaluaed to match the black-market - so does Birr. That everyone with brain knows.

Kazikazi:
Keep on singing the old chorus.
Tanzania under magufuli was doing well.No loadshedding, no currency fluctuations, no corruption. Mining laws were reformed,big projects came up,even agricultural revolution which is current underway was initiated by magufuli.

Anyway,why are u pointing fingers at naija,ethio,and Misri while you are worse?

You cant rig the economic game for long before it shows. You saw in Magufuli when he tried cooking economic data -after scaring investors- forex outflowed followed - and Tanzania KES weaken - and you had to raid forex beaurue.

You're luckly you got Samia - who has assured the investor and some of that forex is coming back.

Countries in trouble in forex now - Nigeria, Ethiopia and Egypt. Egypt is dealing with problem head on - with devaluation.

Nigeria is scared to even start addressing their mess as their fake economy will be exposed. Ethiopia unlikely to address the problem too.

Kazikazi:
Yes.
That is a game which they played for ages

You're incorrighible; not suprising from a Nigeria; As far as I recall that Anchor Borrower Program was CBN direct lending to farmer. Overdraft is taken by Nigeria Federal and state gov for emergency funding - and those are normally paying for salaries, debt, pension.

Bloody Nigerian morons - overdraft is not unique to Nigeria - even Kenya once in a while - ask for overdraft from Central Bank (which is gov banker) - like you ask for overdraft from your commercial bank. Uhuru last year took 65B KES overdraft - huge in kenya parlance - and sign of things starting to go Zoooegeria like - and we are luckly we have Ruto.

What Nigeria CBN does of course is crazy 1) 50B dollars overdraft!!! 2) Also lending directly to retail consumers - remit of commercial banks.

The job of Central Bank 1) Issue TBills - short term - 1yr domestic debt on behalf of gov 2) Issue treasury bonds on behalf of gov 3) deal with forex issues 4) offer banking services to banks (not direct customers) 5) receive gov money either locally or internationally.

When you ask for over-draft - in simply means - you're struggling to raise debt through normal channels (bills or bonds) or revenues - and have resorted to printing money.

That printing of money is responsible why every year Naira is becoming more and more worthless - remove the temporary peg - and it will drop to 800 naira to 1 dollar - and of course that inflation (money supply not commensurate with economic activities) create poverty as hardworking poor Nigeria now had to dig in - while your federal gov is creating fake money - and diluting Naira spending power.

GeneralDae:
So emergency means salaries automatically even when you can't find an article that categorically states CBN borrowed to Government for Government to pay salaries? Yet there are articles everywhere that shows what type of emergency funding CBN used the overdraft for. Don't speak from your ass again and don't be dull. If it was used for salaries, our media which is largely opposition media, would have made this known to the world immediately without fail.
I told you it was majorly used to help farmers in an Anchors Borrowers Program and the rest of it sucked up by corruption.

Nigeria is not little India borrowing to pay Federal salaries.

https://www.standardmedia.co.ke/article/2001280343/kra-crushes-more-than-100-vehicles-photos

Since 1990s - nobody dares import an 8yr older car (it actually 7yrs) - leave that a car that doesn't pass stringent inspection. Again 3rd condition - you have 5 days to clear your car - if overstays you start paying 100 dollars per of port charges per day - within a month or two - your worthless car is crushed.

That picture is KRA office in Athi river - such cars are crushed - and you pay for the crushing. Tanzania and Uganda like Ghana and Nigeria recently tried to implement something similar - but you're like 30yrs late.

Just40:
Fact is Kenya is still importing 10 years old plus cars and now thinking of banning those older than 10 years

That explains why new cars sales is so low and it also explains why too many rickety cars are on Kenya roads.

While rusty houses is Normal in Kenya, it's not normal here.. the shit that you guys live in in Kenya can only qualify to be storage units for farm products here.

Kenya is just a backward huge Zoo