₦airaland Forum

Your gov will never stop selling your crap because you're a country of idiots.

Ghana gdp to debt is now close to Zambia - 100% plus.

Get calculator and multiply external debt by 2 or 3. That is magic your cedis is doing to you. It's doubling your debt without any extra borrowing. Every day cedis weaken you debt to gdp increases.

Zambia your twin is already past 110%

Just40:
and here is the actual

Under construction slowpoke

Just40:
yet most of Accra drains are covered and all road construction since 2017 has come with covered drains..

Meanwhile your country just paid a billion dollars for this road and the drainages look like this

Nigeria electricity is cheaper - than kenya - but rarely available.
What is pay - diesel generator per unit - cost 40-50 cents usd
That is the real cost of electricity in Nigeria - 40-50 cents usd - half a dollar.
That is world most expensive power.

obaaderemi:
So you've moved from tariffs to availability. Keep running around, I'm still on your case.

It should pay dividend to the shareholders. If it's federal or all the 36 states - they should declare profit for once - and make some payment. If they claim to have made profit - and then retained all the profit - then owners have got nothing from it - 40yrs later.

obaaderemi:
And I'm asking you: who does NNPC pay dividends to at this stage? I'm not sure you know what you are saying again.

Dangote has lost 25% of it value.
Safaricom has made huge bet on Ethiopia.
Very risk market with civil war
It's going to pay off as Kenya with help of Obasanjo are fixing Ethiopia.
Safaricom next year or two - will be worth 30 billion dollars or more.
Already they are closing 1 million subscribers in a month of launch

obaaderemi:
Idiot, Dangote hasn't lost 50% of its value like Safaricom has.

Kenya has about 25,000km of paved road - and road network approaching 300K. These are facts easily available. You can check national accounts in KNBS for latest.

Just40:
so should we check Kenha website for the paved highway length?

Anyway, as at 2018 Kenya had 12,950km of paved roads and only 4,300km was in good condition and only 122km new roads was under construction....
https://allafrica.com/stories/201812120066.html

Like we've seen in several of your govt report, it is only able to construct(paved) less than 200km of roads per annum

Your highway authority says it has 13,200km of paved roads

WB/IMF projected 90-104. I think I have seen 138 percent as your real GDP to debt. Cedis depreciation affect your external debt. It has grown by 50% everytime Cedis collapse by 50%. This just PURE COMMON SENSE.

Just40:
you saw projected and still managed post this thrash

The projection is based on expectations of borrowing to end of 2023.

Meanwhile Kenya debt is already 100 billion dollars as we speak.

Kenya debt forgiven in 1995? Never heard of it. Kenya restructures it debt - delayed repayment in 1990s
We were not eligible because we could pay.

Ghana has been part of HIPC forever. Highly Indebted Useless countries.

Just40:
This was the Kenyan finance minister at the time begging to be part of the debt relief but Kenya did not qualify for it because the US had already forgiven Kenya of billions in debt in 1995.

Sometimes use common sense.
8 times? Does it even sound normal to you?
https://www.stimatracker.com/
Kenya tarrifs - start from 10 cents for industrial customers to about 22 cents for residents (lower class pay 10-15 cents).
Ghana is about the same.

Maybe you're consuming internet crap data I have seen on stastica.

Check again from proper sources.

Cheapest are Ethiopia & Egypt - Ethiopia use to be 4 cents - I think now 6 cents - maybe 8 considering Birr has depreciated.

Just40:
good you didn't contest those facts and chooses to make the usual noise you make with trashy write up ..



Anyway why is cost of electricity 8 times expensive in Kenya than in Ghana, bare in mind that Ghana generate 70% of is electricity from gas plants.. which is supposed to make ours even more expensive.

You need to juxtapose that graph with the actual availability. Kenya enjoys almost 99% electricity coverage - you're luckly if you get 4hours per day.

Maybe if you paid more - your bankrupt power companies - will have the money to turn the turbines - and add you two hours of power - and you wont be angry about kenya - a success story in power sector.

obaaderemi:
At least your tarrif is higher than Nigeria's according to your chart.

Almost every stock has sunk worldwide as we are in bear market. I use the past tense. We will sell when prize is right. I assume that you're normally not mad - just have bad education and low IQ.

How much is Dangote worth now?

obaaderemi:
Consoling what? We're kicking you around like a football. Why didn't you tell us your Safaricom had sunken below $9bn instead of quoting $18bn fraudulently?

Do you even have electricity ? You'd pay everything to have our electricity. Price come after you have it.

obaaderemi:
Everything is expensive there. The reason is not farfetched, foreigners control everything in Kenya.

The world dirtest city with cholera epidemic that normal kill thousands. That is accra. And you're here online with choleric diarhoea on threads it impossible to have a sober debate.

This akin to a mad house.

Just40:
Most of Accra drainages are covered.. I know that is strange in Kenya hence the eyesore you guys created with your expressway.

Good you've realized you're just a loser on all front

Nov 2022 - Ghana debt to GDP is above 100%.

Another bailout won't solve Ghana's economic crisis
Oct 20, 2022 — The major problem now is rising debt, which stands above 80% of GDP and is projected to reach 104% by the end of 2022. Ghana has been thrust

Just40:
78% in 2020 and 68% in August 2022 get current...


Next comparison

The difference btw normal thinking human and mad man is the soundness of their argument.

Basic sound argumentation 101 that you learn in lower primary debating class.

When you allege something with data - quote the data - paste the data - add link - SUPPORT.

That normally should end the debate - because data is sacrosanct - facts are sacred.

Either you're mentally ill therefore cannot make sound argument or you got bad education or bad morals from Accra slums- or all the above

Just40:
I give him some time because at least he try his best to understand the difficult things in his own way no matter how faulty that level of understanding may be to the reality.

The rest are just empty heads

For me, it is the fact that electricity is 8 times more expensive in Kenya than in Ghana. And 1.5 times more expensive in Kenya than in the USA.

The Israelis are really raping that country dry ...

There's wisdom in owning your electricity sector rather than handing it over to Israeli companies because your country is broke.

Yes - both Ghana and Nigeria had huge debt forgiven - but here they are - indebted to their gills - and almost both have no viable plan to pay off it. They simply dont generate revenues needed to pay off debt.

They are now claiming their reserves will pay for it. DRC would already be 1st world.

Shma2022:
I got the 70% figure from bloomberg. Your debt to GDP is currently 81% as opposed to previously purported 68%.

Check this out.

By the year 2000, the government of Ghana had borrowed so much that the country was in debt distress. It then subscribed to the Heavily Indebted Poor Countries initiative of the International Monetary Fund and World Bank. Consequently, much of the country’s external debt of over US$4 billion was written off by creditors. By the time the initiative ended in 2006, Ghana’s total public debt stock was US$780 million (25% of GDP). The debt stock has since risen by 7000% to $54 billion, which is 78% of GDP. The current debt to GDP ratio is 78%, while the average for developing countries is 60%

You write nonsense almost 99% - and you make this thread like wading through a Accra - with open sewers - and we have to jump over it.

Rule number uno/one - when you quote data - try to add a link.

Then we can have an intellectual debate.

If someone was to read this thread - all they see is another West Africa online slum - littered with garbage.

Just40:


Just imagine him trying to compare Kenya 200kwh per Capita consumption to Ghana 1,042kwh per Capita consumption..

Isn't that madness ?


The gap is too huge to compare

Misery love company. You're both now openly consoling each other. Facts are stubborn things. We are not interested in pyscho-analysis of online moniker.

obaaderemi:
He has fallen hard to the level of his lunatic brothers here. Not that he was smart to start with. But he is trying, for a semi-illiterate.

Oil reserves doesnt generate money. It will generate money when you can produce the oil from the reserves and sell it's profitably. Something NPP has been unable to do for donkey years.

They call it the Nigeria Oil curse.

obaaderemi:
R I P, NNPC is a major shareholder in the NLNG project with the likes of shell, total and Eni. That's not the kind of thing you compare to DRC.
You are being eaten up because your country is insignificant, like you.
The biggest company in your country is Safaricom, a company whose shares and valuation are dropping like a rock. Now it's worth a meagre $8bn. Your government's share value is thereby around $3bn now. Is that the kind of nonsense you are bragging with? Why does small things excite you?

Check out NNPC on this list of the world's biggest oil companies by reserve( oil reserve only, not gas and Nigeria is more of a gas country than an oil country)

Obaboon, how does it being owned 100% help Nigeria? A company only help when it generate returns in form of dividends to the shareholders - in this case Nigeria gov & public. NPP generate losses and debt. You're borrowing to prop it.

You can imagine selling crude and making losses.

obaaderemi:
It is 100% owned by the state. What dividends, dumbo?

Last I checked it was around 17 GHZ consumption - but your utilities are broke, indebted and draining your economy.
How much of that power is paid for?

Jul 5, 2022 — In Ghana, about 30% of electricity supplied by the utility companies is lost through theft and other illegal activities [3] .

Just40:
Yet Ghana sold 33 billion kWh of electricity averagely last year

Do you know how much that is?

The stats of metered connection come from your own gov.
You need to improve metering so your companies dont go bankrupt
And when they go bankrupt they take economy down.
That is why VRA and it's cousin has bankrupted Ghana since 1962.
VRA send your hero Kwame Nkrumah to exile where he died bitter.
And it continues to send your economy to IMF.

And it appears IMF maybe a little tired of your cries for help - and now we are watching Sri Lanka unfold

South Africa is now being taken to cleaners by Eskom.

Nigeria became a zoo with NEPA.

SYSTEMIC RISKS FROM ENERGY UTILITIES TO ECONOMY IS VERY SERIOUS

VRA with 9yr losses - mean it cant turn turbines - cant buy gas - cant function - then darkness, power cuts, and then a mess

Just40:
there are 3.5 million houses in Accra alone ... That is more than 3.5 million meters. Kumasi also has 3 million houses which are metered and all connected to the grid.

Only people who don't pay for powered in Ghana are those whose lands were affected by the creation of the Volta lake..

Total electricity sold in Ghana is more than 3 time what is sold in Kenya... Just get off the electricity Convo because you have no idea of it and you keep making a fool of yourself.

I am torn by Nigeria and DRC on which is a bigger jungle. By land size - DRC is twice and half bigger Jungle. So maybe we call it the biggest Jungle in Africa and Nigeria follows.

You cannot value reserves as company assets when you've proven for 40yrs that you can only generate losses and huge debts. The realizable value of such asset is almost negative.

Oil reserve that you need to battle rebels, thiefs, vandals.

Only the reserve on shores - in middle of Nigeria sea - where Shell can hook their pipes and drain without dealing with vandals are worth of something.

Heck I hear the oil production has halved to a million barrels from two million.. Angola has overtaken Nigeria...NPP years of disinvestment means the oil pipeline are now damaged and oil production is slowly down every year.

obaaderemi:
You value it as wealth of it's in the hands of a company with books that has records of the assets and reserves. DRC is a jungle. You are mad to compare it with a company.

It has never declared dividend. You can cookbooks to declare profit for political propaganda- but Nigeria public - want to see the dividend cheque.

obaaderemi:
You are not smart, R I P. NNPC made a profit of over N100bn in 2017. Last year it was even bigger. Sit down in little India and be following statements that are purely political.

Obaboon, we have been through this, they declared profit as part of sleepy Buhari propaganda that is he was now turning around NPP, otherwise no money was banked in Nigeria gov coffers. Your senate have investigated it.

Sleepy Buhari has messed up your economy. Obasanjo was good, Jonathan good. I really pray you get Peter Obi. Otherwise you're done done.

Another Sleepy Buhari manufacturing propaganda like Tinubu surely you cannot afford it.

obaaderemi:
R I P, NNPC made a profit last year that is bigger than anything any Kenyan company ever made.

Their deffered tax liabilities are humongous. We just wait for them to burn their money until they get tired.

Just40:
unfortunately you're not smart to have those kind of agreement like GHANA has.

They may have to sell their business to you at premium because of the agreement you have with them..

That is better - because I saw you begging MTN not to repatraite dollars to South Africa and I cried small for you.

Your power company is as worthless like Nigeria NPP.

I know with your Bonobo Babboon type IQ and brain you cannot understand why.

It quite simple. Most of you bonobos dont pay for power - you steal power - you only have 3 million metered connections. Kenya for comparison has 9 million - South Africa 17 million.

The Nigeria bonobos steal crude oil, damage pipelines, steal refined fuel, manager steal money, total self-sabotage - NPP makes 40yrs of losses.

This why criminality when it becomes a culture even selling gold or crude become loss making.

Gold become a curse.

Oil become a curse

Just40:
you forgot MTN is 35% owned by Ghanaian share holders.

As usual you have no knowledge on what BOOT agreements look like...
Basically your operation is just a lease if you know how JV contracts look like, you'll have an idea.

To Mobile money, the Bank of Ghana only allowed MTN to own 30% of the mobile money business.

Keep digging for all the excuses to why there's no company in Kenya as valuable as the companies I listed.

Okay - we will wait to buy their Airtel kenya for a dollar soon.

Just40:
Their parent company wanted to exit the African market mostly so the Ghanaian govt took them over per the agreement they both signed

Kengen- just one company - Total revenues of 450M dollars.
Has never made a loss in it's history.
They made 180M dollars in profit.
kenya public has zero exposure in debt from it

How do you make losses selling electricity ? BONOBO of GHANA - explain. Just like Nigeria BONOBOS need to explain how NPP can make losses selling crude oil.

https://www.businessdailyafrica.com/bd/corporate/companies/kengen-profit-more-than-doubles-to-sh18bn-3271566

Power producer Kenya Electricity Generating Company (KenGen) #ticker:KEGN has posted a 133 per cent jump in net profit to Sh18.38 billion for the full year ending June 2020 on the increased output of cheaper geothermal and tax savings.

Just40:
noise of a guy with no company in his country as valuable as VRA

Every country has CA - a regulator. They dont own Telcom. MTN own your Telcom sectors largely including Mobile Money (which is now banking) and are busy now sending the precious rare USD dollar to South Africa - and all you can do is BEG.

MTN - is basically going to own your two important sectors - Telcom and Banking - and they will be repatriating lots of dollars down to Joburg

Those Southies can be very harsh bosses - and very racist - I doubt they have servers in Ghana - everything including your mobile money is probably running from South Africa.

Just40:
your just not smart ... The regulator is the one that sells the spectrum on behalf of the govt. It is the technical brain of the govt.

Whatever it own is in trust of the govt.

Dumb kid

Why would they run away and sell it for a dollar.

Just40:
actually

You really don't know how BOOT agreement works
It was under similar terms that ....

Both companies 200 million dollars plus liabilities is being paid of by Bharti and millicom.

Next excuse

Total revenues - 700M dollars - and has raked losses for 9 years in a row.
Indebted to its gill.
The company is under the depth of it's own Akosombo dam.
Financially speaking.

The balance sheet is here - worthless piece of crap that is swimming in debt - and like Eskom now - is albatross on your national economy.

https://www.vra.com/resources/annual_reports/2020%20VRA%20Annual%20Report.pdf

Just40:
Keep projecting meanwhile the Company has 2 billion dollars in loans on it book from the WB, Societe General, the Kuwait fund and co.

Is there any company in Kenya that is able to borrow on it own balance sheet to that amount?

This is the company on whose book Ghana spent 16 billion dollars to resolve it power crisis ended 4 years ago.