₦airaland Forum

Student hostel construction in kenya - by Accorn and others.

Beds available across the country are approximately 280,000 against the total number of university students of about 600,000, according to Acorn.

Student housing deficit - represent 40 percent of the housing deficit. 300,000 bed unit capacity annually and growing.

May such hostels are coming up - some nearly 20 floors tall

You cannot see SGR? You cannot see Mombasa port expansion - now handling more than Lagos two ports combined? You cannot see Lamu Deep Sea Port - with 3 berts completed? The inner roads, the by-passes?

Maybe you're a blind?

The mombasa roads are under massive construction - especially in the mainland - so wait for a little longer - a year - you will see serious roads, interchanges and bridges in Mombasa.

Vlain:
So where is the $36bn in Mombasa.when u drive round Mombasa doesn’t it seems to u like $100 m has even been spent in infrastructure.

The link also talks about 3000 stores looted by the Shackman - there an image I attached.

Vlain:
Your link said 800 stores but u pulled 3000 stores from ur ass.

Nyari - Nairobi

https://www.youtube.com/watch?v=IhrUn0v_viI

Eti WOW - a country of 200M - just happy to be slighly ahead. By end of this year - you will be seeing KCB and Equity bank behind - and there are many Kenya banks hot on their heels.

obaaderemi:
In capital first bank is still bigger than kcb. And that's our fourth bank. Our 4th is ahead of your 1st.Wow.

Which blog? This is not the first time - we are doing these kind of lists - unless you have small memory - we have done this from 2016 - I know the data inside out. Africa top banks - and their total assets - capital - these are fingertips stuff.

obaaderemi:
Are you mad? Who's talking about the blogs you posted?

Links of what - we did that yesterday - why dont use scrollback? Use your brain sometime. Everyday - I have to provide links - and all - why dont you simply save yourself - the trouble - and prima facia belief what I am telling you.

Equity Bank has hit a JACKPOT IN DRC - see you in the moon

obaaderemi:
Link? You should be smart enough to post links and please not blogs like last time.

In Total Assets - yes First Bank is big - in Capital no.

obaaderemi:
Your Kcb is even behind first bank Nigeria. I told you your biggest bank will be either 5th or 6th in Nigeria.

Finally you have accept facts are they are. Very stubborn things. Accept the reality and then fix. Nigeria for example if they were to honest look themselves in the mirror - they would know things are so bad - they gotta change.

Kenya was a hell-hole until 2003 - the economy was under recession - but we made a big change for the better.

vankelvin:
Very painful argument

Let me shake the table small (thus my candid opinion)

--For beauty (general beauty)
--development
--city planning etc between the 4 cities, I think the most developed cities are in this order

1--Nairobi (7/10)
2--Lagos (6.5/10)
3--Abuja (5/10)
4--
5--
6-- Mombasa(3/10)

Shots fired

Per all that I have seen about African cities especially cities within both Nigeria and Kenya, Mombasa beats all other cities apart from
Nairobi
Lagos and
Abuja

No there isn't. Like of Equity normal rises 20 position up. Based on the data I know - as of now - Equity and KCB - should be no 15 in Africa - 15 and 16. Only Zenith bank - if they dont drop with COVID - will be higher.

obaaderemi:
There's a wide gulf between 12 and 20.

Tantrums - both KCB and Equity have crossed 10B dollars in Assets. Kenya banks like everything else is growing. The tantrums will continue when next 2-3yrs - no Nigeria bank will be near KCB or Equity

obaaderemi:
Kenya's biggest bank , KCB total assets $3bn.
Lilliputian.

Great. I didnt know about that.

Shma2020:
Crown Jewel Eighteen Seventy Tower | Westlands | Mixed Use | 30 fl | Site Prep

It has break ground already.

Nigeria biggest is now 12. Just keep throwing tantrums.

obaaderemi:
Kenya's biggest bank is number 20 in Africa.

You keep twisting and turning unable to believe the data. If we go by capital - you see KCB was just below 3 Nigerian banks - Zenith, Access and GTB.

Trust me this year - both Equity and KCB - have overtaken Access and GTB

Zenith is the last Nigerian Bank as kenya banks grow super-fast.

obaaderemi:
Long story . I am sure your largest bank has at least 4 Nigerian banks ahead of it. I wonder why you are afraid to show charts to prove your long winded write-ups .

You keep asking for the lists that are all over. You already pasted a list here - showing KCB is no 20 in Africa and Equity Bank 22 - and this not even the most recent. As end of 2020 - leave alone this 2021 - KCB and Equity have grown.

I expect Equity to move from 22nd to something like 15th - overtaking all the Nigerians banks save for Zenith. KCB is following closely.

2 more years - Equity and KCB will overtake Zenith - and Nigerian banks will start seeing dust.

obaaderemi:
Are you scared to tell us the position of Kenya's biggest bank on the list?

No they are not expanding. Last year was first time Kenya banks entered top 25 in Africa - with KCB and Equity - squeezing - to 20 and 22nd. Remember 10yrs ago - it only one Kenya bank that made Africa top 100 - and world top 1000.

As we speak 10 Kenyans banks make Africa top 10 - and world top 1000 (I think has now 5 kenyan banks).

As we speak Equity has dethroned KCB - and both have grown - so the next ranking - I see Equity moving just below Zenith Bank in Nigeria - and KCB following hot on their heels.

obaaderemi:
Wow! So what was the position of Kenya's biggest bank on the list? I am waiting.

From your post I see that Nigerian banks are even expanding than I thought.

Meanwhile - end of 2019 - Kenya banks are moving up - I bet 2 more years - they will have overtaken most of Nigeria banks - save maybe for one.

KCB, previously at position 29 in 2019 rankings, remains Kenya’s most profitable lender with one of the largest local and regional networks.

Equity Bank Group was ranked at position 27 from the previous 54 in 2019. Equity was capitalized at US$ 1,103 Million with Assets worth US$ 6647 Million and Profits of US223 Million compared to US$ 248 Million made by KCB.

NCBA is ranked at position 40 from the previous 84th in 2019. At the end of December 2019, this lender was capitalized at US$ 664 Million, a balance sheet size of US$ 4881 Million and a profit of US$ 77 Million.

Co-operative Bank of Kenya has dropped to position 42 from the previous 39 in 2019. At the end of last year, the lender was capitalized at US$ 650 Million, a balance sheet size of US$4,509 Million and a profit of US$141 Million.

Diamond Trust Bank (DTB) Kenya is ranked at 43 in 2020 from the previous 47. It was capitalized at US$ 569 Million, with a balance sheet size of US$ 3,810 Million and a profit of US$72 Million.

Look like you have every reason to be worried - as of last year (2021 ranking) - you were banks were taking in water --lots of it.
https://top1000worldbanks.com/africa/

Nigerian lenders experienced difficulties on a number of fronts in 2020. The impact of the coronavirus pandemic, combined with a slump in oil revenues (which eased toward the end of the year), resulted in the country’s worst economic performance in more than 20 years. Its five largest lenders all posted significant falls in this year’s Top 1000 ranking, with only First Bank Nigeria registering an increase in its Tier 1 capital base during 2020.

Zenith Bank — the country’s largest lender by Tier 1 capital — fell 68 places to number 454 in the Top 1000 ranking, its Tier 1 capital position declining by 5.4% even as it recorded a 7.7% rise in total assets. Meanwhile, Nigeria’s second biggest lender, Guaranty Trust Bank, drops from 537 to 625 in this year’s main ranking.

When it comes to performance however, the position of the country’s top two lenders is reversed. Guaranty tops the performance tables for Nigeria for the second consecutive year, coming first in its scores for operational efficiency, liquidity, and leverage, with Zenith remaining in second position. Guaranty’s cost-to-income ratio remains far lower than its national peers, standing at 28.9% at the end of 2020, compared with 41.2% for Zenith and 56.1% for Access Bank.

Zenith scored highest for profitability and soundness in the 2021 performance tables. The lender’s return on equity stood at 20.6%, second only to Guaranty’s 24.7% at the end of 2020.

Guaranty also overtakes Access Bank in the main Top 1000 ranking to become Nigeria’s second largest lender, even as its Tier 1 capital base decreased 10.8% for the year.

Access Bank’s Tier 1 capital suffered a steeper fall of 18.1% for the year, putting it just behind Guaranty in the country rankings, and in 630th place in the overall Top 1000, compared with 508th spot last year. But Access remains the country’s largest lender by total assets, thanks in no small part to a series of acquisitions across the continent. After merging with local rival Diamond Bank and acquiring Kenya’s Transnational in 2019, Access announced the acquisition of Zambia’s Cavmont in 2020, and also acquired Mozambique’s African Banking Corporation earlier in 2021.

Access comes in in fourth position in 2021’s performance rankings, compared with fifth position last year. The bank topped the country for asset quality — its non-performing loan ratio dropping from 5.7% to 4.3% for the year — but ranked lowest in the country’s top five for soundness.

United Bank for Africa, the country’s fourth largest lender in the Top 1000, ranks third nationally for performance, with high scores for growth and return on risk offset by lower scores for leverage, soundness, asset quality and operational efficiency.

obaaderemi:
Joke is on you. You posted a blog and expected to be taken seriously. On bank asset and capital your banks are nowhere to be found.

Those days - biggest banks - were usual suspect - and they hired expats (white) - a lot has changed now - not only have they been routed to no 7 and dropping out the top 10 - now they dont dare hire non-kenya - and the same is true for other multinationals. I remember when Barclays hired Adan Mohammed as their CEO - it was a big deal. Kenya made a big turn around 2005 - and if we keep at it - for another 15yrs - we will in another level.

kikuyu1:
Rmbr 2004-06 when the West was on Kibaki like he attempted to assassinate Bush and kidnap the Queen? A cuz in law with the CBK had a group meeting with Mwiraria after his return from Washington for a WB one on one. Apparently,they wanted our financial system-ALL our banks! They were insisting he approve the sale of NBK,(rmbr their liquidity issues?) and the majority of KBC. Family and Equity were yet to make their appearance so they'd have owned our then undeveloped banking system lock,stock and barrel.
Ofc,Mwiraria and Kibaki told them to FK off and barely a month later the Anglos decided upon Kenyan regime change-we've never seen the avalanche of Western hostility even in the worst of the Moi era,which was truly a terrible time as all Kenyans here rmbr. We'd have been permanently FECKED!?

You sound embittered. Yes quickly expanding companies have that possibility of burning out like Nakumatt did. As for Equity that one phenomenal bank that is being studied in IVY leagues. From position 66 out 66 in kenya to now the biggest bank in East and Central Africa.

68816419:
We all know how Nakumat was expanding across those region, while cooking figures as well and making those claims " we are the largest in ..." , I am very sure the real truth of your banks will be known soonest.

Mombasa port - defies covid - to grow to 36Million metric tonnes annual caro
https://www.businessdailyafrica.com/bd/corporate/companies/kpa-defies-covid-beat-mombasa-port-cargo-forecast-3504208

This beyond your paygrade. Save yourself headaches
http://africainvestmentconference.com/news/kenya-kcb-grosses-usd-10-billion-in-assets-after-buyouts-in-tanzania-rwanda/

Understand what Bank Assets are.

KCB acquired BanABC - Tanzania - you need to find their total assets - if KCB acquired the whole of it or not.

BancABC has subsidiaries in Botswana, Mozambique, Tanzania, Zambia, and Zimbabwe.
...
BancABC.
Type Private company
Revenue Aftertax: US$34.512 million (2015)
Total assets US$1.81 billion (2015)
Number of employees 1,000+ (2011)
Parent Atlas Mara Limited

Abohboy:
Based off of the article that only adds 3.2 billion shillings to the overall assets or am I mistaken? If not then you're still no where near 10 billion dollars at best 8.9 billion dollars

Just after the french orange had escaped; the kenya treasury I think found convinient fool wearing agbada when Orange realized telkom was a dead cat and were nearly causing diplomatic fuss.

Helios will never make money from Telkom. Selling 24 percent of equity - boy - that is serious opportunity lost.

kikuyu1:
I rmbr when Helios sold Equity to buy Telecom Kenya. I swear for the next 3 days EVERYONE asked me," WTF are you laughing at?"
WHO. DOES. THAT!? I'd pay GOOD money to examine their decision making process.

Shackman,

South Africa stats office would like to disagree

http://www.statssa.gov.za/publications/Report-03-10-23/Report-03-10-232019.pdf

Statistics South Africa has two surveys which measure informal sector employment. The Quarterly Labour Force Surveys (QLFS) provide the official unemployment numbers. They also count informal sector activities using an internationally comparable definition endorsed by the International Labour Organisation.

In addition, every four years the Survey of Employers and the Self-Employed interviews owners or operators of small businesses which are not registered for value added tax identified in the QLFS.

What do these surveys show? The latest QLFS found about 3 million people were working in the informal sector. This is just under 20% of total employment.

AfriqueDuZuid:
South Africa does not count informal sector, the count what goes through formal sector

Like VAT accounted by goods sold by formal sector,

Even even it comes to employment its not counted, because the not registered

Nigeria banks are just expanding for its sake - their subsidiaries are not making money. Kenya banks are all over east and part of south africa - and making profit.

Abohboy:
You love to lie clearly Kenyan banks are unlikely to make any waves in Nigeria whatsoever any time soon, Nigerian banks have already started moving into Southern and Central Africa through Congo, Zambia and Mozambique and we're already growing massively in west africa but France still controls a lot of industry in this area but ultimately the fact of the matter is Kenya doesn't compare you're blowing the trumpet too loud

How do you cook money in the bank. How does a cooked GDP generates 21B dollars for gov as revenues - when tax rate is btw 16-30?

Nigeria economy is cooked. As of now - when I compared most data - it should be twice bigger than kenya - not 4 times. It should be 200B dollars or about. South Africa is indeed a big economy - and so is Egypt. If Kenya economy keep growing at 6-7 percent - it will hit 300B dollar in a decade. TRUE story

You're very welcome to invest in Kenya. It easiest place to come. But trust me if South African have not managed to hack it - you will not. In kenya we promize you one thing - BRUTAL competition. Kenya gov will not demand 3B dollars like youre doing South Africa. Nor will kenya gov stop your from taking dollars to Nigeria.

Kenya firms will eventually reach Nigeria - but not so soon - we are moving to Congo first - then once we know enough french - we will rule Central Africa - we are done with East Africa - and South Africa is too strong in Southern African. So now focus is Central Africa and then North Africa.

Maybe in a decade we will show up in Nigeria - and hopefully it will have got basics like electricity fixed.

obaaderemi:
Does this make any sense at all? You are grasping at straws, my son. How do you expect the economy of a country to stay the same for 10 years? It's not possible. Of course, Kenya has to grow. And it has grown with cooking and all that.

But not as well as you claim, saying things like "by 2030 Kenya's economy will be as big as Nigeria's or South Africa's". That's impossible, even if Nigeria breaks up, you can never catch up with the economy of the Southwestern part alone. Not to talk of Nigeria or south Africa today.

And on Soludo and Iweala, Soludo again- was the saviour of Nigeria's banking sector not Iweala. It's well that Ngozi is doing well beyond Nigeria today but Soludo has served his purpose here and we are forever grateful to him. Very soon you and the Kikuyu man will be banking with a Nigerian bank in Kenya with the way you are exposing your banking sector.

And I am still waiting for that link that shows that Kenya has up to ten banks on the list of Africa's top 80 banks.

When did you proof. There is difference btw Nigeria immigrant kid studying in London like you going to Oxford - and a Nigerian kid from Kaduna going to Harvard. You're only a Nigerian in name. In fact the remittance after first generation drops to zero..because the Nigerian immigrants kids will have less or no attachment to Nigeria.

Abohboy:
Yep resort to that when I just proved our educational system produces more ivy league graduates then Kenya

Leave oga and his agbada alone. It not only Transnational - all the rest who came - were taken to cleaners. Their kenya subsidiaries will not make profit. TNB and many kenya small banks are just money laundering outfits - for politicians and drug traffickers.

Once their own sell it - where will you get clients. Moi made clean profit from a bankrupt bank - where he was the only client

Meanwhile they should study how kenya banks are expanding and making profit in many countries.

Rarely have I heard a kenyan investment that went wrong - maybe South Sudan with their civil war and inflation. Ethiopia too - with forex control is not easy place to repartriate your money.

kikuyu1:
Ohhh, we're trembling at THE thought of you dusty agbada wearing dudes buying up our banks.
We were all speechless when Wigwe bought Transnational for a whooping (drumroll, pls!) 14 mn usd! AIYAYAYAYA!
Rvp20182,tell us which giant GTB acquired this year. I'm still trembling, like most observers here!

Nigeria has 20 million economic refugees all over the world. Youre one such.

Abohboy:
The person who wrote the report is Kenyan and she said herself that Nigeriand are the most numerous out of any black peoples groups even larger then African Americans

It is counted everywhere - through indirect data and estimates. Even if you grow your own food and eat - the gov will know how to estimate that. If you go to a slum like the one you're in and count directly - there is nothing - there - just like we saw in your shag. The manufactured goods will have to come from some formal factory - so whatever is sold in those kiosks - is already well known. If they are imported goods - they will also pass through the borders - and will be known.

AfriqueDuZuid:
Informal market in kenya is counted in,

It employs many people - who earn just enough to meet their basic needs. In fact in Africa - there is really no unemployment - except those btw age of 16-21 yrs who are in school. If they were in developed world - those 16th years old and college kids - are expected to work - in Africa they dont - because there are no jobs - except in informal sector.

Informal sector is mostly fending to get enough money to eat - with those business hardly making any serious profit .

Again check the first chart - in kenya one informal sector employees - generate 15 times less the formal sector - yet the informal guy probably works HARDER and for longer hours.

obaaderemi:
Your own chart proves what we have been saying. Check the blue against the blue.

This kind of nonsense you hear in Nigeria and Ghana - and soon South Africa. It goes like this - if the informal sector was counted - the economy would grow

It pure nonsense. Informal sector is plagued by low productivity and ineffeciency - yes it employs many people - but they are hardly making any money - just enough money to meet their basic needs.

Unemployment in Africa is almost zero because people must fend for themselves to eat - and they do that through informal sectors. Some just growing enough food to feed themselves or fishing enough to live on

There is big economic debate now in kenya - on how to solve this - and I think Kenya might just be able to solve this problem - of informal sector.

Informal sector need to be formalized - and supported - so they can grow to become formal growing sector - into formalized SMES.

For farmers - Small holder farmers - need to be organized into cooperatives and supported - so they can become profitable and productive like larger farms.
For transport public taxis - the same - they need to be organized into cooperatives and supported - so they can become as profitable as large transport firms.

For street hawkers, dukas and kiosk - the same - the supply and distribution chains need to be formalized - so they can do as good as supermarket chains.

AfriqueDuZuid:
But in most cases that's where illega stuff harbors

However when there's plans to tranform that , can be good source of revenue for the country?