₦airaland Forum

rvp20182:
Could be the famous dead cat bounce. Or the rigor mortis for large mammals. Give it time for people to digest the Ghana default. And we still have lots of uncertainty of external debt restructure and IMF deal.

So far Ghana has kicked the debt can down the dirty canal for 5yrs - and locals have accepted it.


A dead cat bounce is a temporary, short-lived recovery of asset prices from a prolonged decline or a bear market that is followed by the continuation of the ..

firstly , liquidity has never been a problem in Ghana, there is about 1.5 billon dollar of Ghana money sitting as investment in foreign country , we can actually withdraw it and charter our destiny ourself instead of waiting for the imf but we rather establish public trust and imf is going to actualized that , it is the ability to trust the local currency that is missing, there is continuation in GDP growth, maintaining positive in trade balance etc All this point out that it is not facing liquidity challenge. So the dead cat bounce analogy is not suitable for this position.

Ghana �� was Morocco’s �� inspiration for the 2022 FIFA World Cup.

But they have left us behind...far better than us I must confess.

Coming from the horse mouth

Ghana has been ranked as the 5th Most Talent Competitive country in Africa in the Global Talent Competitive Index (GTCI) for 2022.

Global Talent Competitive Index is a comprehensive annual benchmarking report that measures how countries and cities grow, attract and retain talent. It provides a unique resource for decision makers to understand the global talent competitiveness picture and develop strategies to boost their economies.

Top 20 Africa's s most talent competitive countries in 2022

1. South Africa �� (77th)
2. Egypt �� (86th)
3. Tunisia �� (91st)
4. Gambia �� (94th)
5. Ghana �� (95th)
6. Morocco �� (96th)
7. Kenya �� (97th)
8. Eswatini �� (100th)
9. Zambia �� (102nd)
10. Algeria �� (104th)
11. Benin �� (105th)
12. Rwanda ��(106th)
13. Senegal �� 107
14. Nigeria �� (109th)
15. Côte d'Ivoire (115th)
16. Malawi �� (116th)
17. Tanzania �� (117th)
18. Zimbabwe �� (118th)
19. Cameroon �� (119th)
20. Lesotho �� (120th)


#Source: Global Talent Competitive Index (GTCI) 2022

Ghana’s currency, the Cedi, has started gaining strength. It posted world’s biggest gain against the US Dollar last week. .

rvp2018:
Of course they are not the same. And that is what I said.
I have watched couple of videos - Ghanas are peace loving bible loving nice folks.

What you described as news is not news in kenya - every years kids in Kenya BURN SCHOOLS every year...in thousands.

Sometimes they have to close all schools as wave of school burning starts.

When I was in form 2 myself - we organized our first strike - we burnt down many things - my friends got arrested and expelled. I somehow escaped after two weeks of suspension. We were 14-15yrs. This spread from school to school...leading to wave of school being burnt down...a

In form 3 - I was finally expelled - as we organized another strike that didnt happen.

Like I said Kenyans are pretty hardcore. West Africans are pathological liars - soft christian bible conmen. Dont take your soft behind to kenya - try South Africa or Europe or US.

Kenyans took education too seriously - send kids to boarding school as early as possible - and it eventually tore it apart - kenyans got the high quality education yes - but it paid huge price - that is why exams and boardings are being almost scrapped.

https://www.bbc.com/news/world-africa-60309939

Sometimes it reaches a point where almost every high school is burning down..... in 1990s ... I fundraised for petrol...we would burn down dormitory and classes down.

You can never have a tough university system like Nigeria . So be careful with Nigeria and your west africa choice of words. The kind of fraternity operated by some student there can be liking to mafias of Italy or gangsters in the usa . Guns and matchet aren't a strange things. .

Ghana on the other hand has so many cool headed individual. We can talk from morning to night but we hardly throw punch against one another. But if it must happen , it happens bloodly

rvp2018:
Why should it be opposite in dec - this when dollars from summer bunnies is flowing? more supply; prizes drops;
I think good sign that domestic debt market didnt lose all hopes.
You still need to default on external debt.
And nail IMF deal
Before we can talk

there is no way foreign direct cash will supersede the money flying from here to europe and asia, it ain't possible . We patronize europe and asia so much this yeletide . Xmas fiesta.

Ever since announce of the debt swap, the market have adjust positively to the favour of the govt

Just40:
it's 12.50 now

The market has realized they prized in too much uncertainty and now that they've realized debt servicing only take 35% to 40% of govt revenue, they know that govt is liquid enough to pay it debt

that is nice , I only complete a transaction and it was sold for me for 12.80, I surprised .

Economist, Dr. Adu Owusu Sarkodie, is calling for the withdrawal of the over $1 billion Heritage and Stabilisation Funds invested overseas.

According to him, these funds have generated a just a 2% return on investments, which he describes as very meagre.


Just40 what do you think? Do we actually need Imf, we can just tap back our money

The cedis is rising so fast against the dollar..

1 dollar equals to 12.80 today .

CFA is also crushing now

Remember this is December , it should be opposite.

Inspiration from India

rvp20182:
Kenya trailblazed with M-pesa - and related products. Ghana has done well to follow the path. Nigeria continue to mess around by not allowing telcoms who have far wider coverage than useless Nigeria Banks to lead in mobile money.

I think Nigeria has invested so much in her banking infrastructure to allow a mobile telecommunications company to come compete with her. Though, not as much as the western country . For the west , they are even jealous of the technology , they wish they could own it but I guess they have already exceeded that chance , a little tweak on their banking system may collapsed their financial institution.


MTN Nigeria has been giving licence to start mobile wallet transaction , I really don't know what is stopping them . Maybe it is working but not popular.

Morocco might be the first africa country to reached semi final . The chances remain very slim . Anyway , this North Africa people didn't even consider themselves africa , I will have prefer a proper africa team .

GeneralDae:
Since 2013, the CBN have been on a slow but steady drive to bring in the millions of people in the informal economy which is too large. It is said (though no official report yet) that in Gombe state alone for instance, transactions on grains and some agricultural products are worth Billions of naira daily, but they are all done in cash. The CBN wants to slowly kill the informal economy.

what do you think?I think govt want to have the foreknowledge of the transaction going on so that they can apply taxes . Digitizing the economy. The first timecGhana digitized her football ticket, she made four fold of the money she would have recorded on a manual ticketing.

But how will they expect a normedic cattlemen to come formalized their trade, for example, . This guy's walk with all sort of currency , dollars , CFA , naira and cedis in just their crossing bag . They buy and sell cows along the bush part , that is how they live from walking from northern Nigeria to northern Ghana . Or even more kilometers .

Just like what I said yesterday , no be only dollar, even the problem don dey affect local currency. I am sure Ghana will follow suit . We are not just In a normal time . But A hundered thousand naira weekly limit too small nah . Nigeria what dey sup?


CBN announce on Tuesday say starting from 9 January 2023, individuals no go fit withdraw more dan N100,000 ova di counter weekly while corporate organisations go get limit of N500,000.


If you must withdraw above that , them go sama you 5 percent charges untop your own money .

rvp2018:
What madness are you on.
KPLC requires 50-70M dollars monthly to pay IPPs and loans they took in foreign currency.
They need to figure out how to survive the dollar crunch
And are proposing charging customers in EPZ, embassies and such dollars if they agree

As for Ghana - have you even paid Nigeria for Gas without walking sleeping Buhari?

You own power companies dont even pay for their debt - it's Ghana gov that pays

So because your govt buys petrol related product in hard currency , it therefore make sense to sell it back to her local consumer in hard currency ? What a daft analogy. Your independent power company aren't the only organization in kenya who had borrowed hard currency. Your govt for instance is a perennial borrower likewise many local independent people' are also doing it . They don't come back charging their consumers in hard currency. It is economically useless to do so . Unless there is a reason for me to acknowledge your power station are running at looses for charging in shillings ( we understand how your cbk pampered it instead of allowing economic reality to unfold it).

Ghana does not owned Nigeria any gas money as that has been settled a long time , fool .

ECG earns a lot of local revenue here , it will be stupid for her to charge in dollars . We are not backwater kenya

rvp2018:
Since 1999 - IPPs - Independent power producer came in - kenyans always pay forex charge on their electricity. IPPs signed agreement to provide us power for 30yrs - and those who import oil/thermal - have forex charge on them. KPLC have to buy dollars - and Kenya banks are making a kill from forex - so it make sense if they can charge source for own cheaper forex.

We are okay - because we dont have rolling power cuts like South africa, Nigeria, Tanzania, Zambia and Zimbwabwe - who are all struggling for non-investment in the sector and dependence entirely on hydro or coal - or of course being totally rudderless like Nigeria.

shut up you dense,those kenya regulate, manage and print dollar ? Why then are you trying to do what you aren't capable.

If kenya try it, then consider your independent monetary policies gone like that of zimbabwe . kenya willl eventually loose the power to control her interest rates. How then do you stimulate your economic growth . Kenya is about sinking ( walking the path of zimbabwe ) the worst is, it is even a national company seeking payment in hard currency . If the policy work , many organization will also request for similar treatment. Then more compounded problem for more poor turkana citizens . I pity kenya .

kkins25:
really? would look it up.

make money my bro. Forget that iphone 13 pro max for now . The data I provided is fully backed by GSE.

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Just40:
Kenya power is already rejecting the Kenya shillings
Useless currency

You guys have not seen anything yet ... After making Kenyans pay the highest for power on the continent, Now it can't find forex and has resulted to abandoning the shillings.

This is straight down the hill to Zimbabwe.

The move can actually crumble their currency more. AN illogical move I must say, they always run out of idea . Running two currency is a huge hassle and has considerable cost . Liberia is a typical example. Dollar can be used just as Liberia currency. Very mad system.

Shilling is about turning to Liberia dollar.

Just like I said , rvp is very much dense . Love foolish argument that never agree with him .

There is even shortage of dollar in kenya , you can only withdraw 20k dollars from kenya banks and that even depends on availability. Not guaranteed.


The worst hasn't even started as the report predict

Just40:
Ghana is already recovering and it will be done in 2 years...

Cry for Kenya as there's no end in site for your ongoing classic default

kenya is sick financially .

rvp20182:
All kenyan banks J am aware of have A+ rating.

Then Begin your goggle check , instead of digging about Ghana financial crisis , learn about your financial mess up first.

Start from stanbic kenya, that is a free knowledge .

rvp20182:
Ghana's second biggest bank, GCB Bank, has been downgraded by international rating agency, Moody to Ca...JUNK

The next drama is on your banking industry

I don't know what you mean by bigger , but if it is about asset , GCB actually have the highest asset among Ghana bank not second slowpoke.


Just like how kenya is not spare of downgrading , the stanbic kenya and co. Whatever financial mess that is happening here , it is triple in kenya .


You can run but can't hide

rvp20182:
No limit if you walk to the bank. Limit on ATM.

it is more to do with cash at hand than demand . Country with more high financial backup even have a limit on cash withdrawal daily . If you must go above their set standard . Be prepared to come up with more documents .


You really learn foolishly

rvp20182:
We know the drill.
We saw in Lebanon, Sri Lanka, Argentina, Greece, Zim, Zambia.
The next thing within a month is bank restricting how much you can withdraw
Next will be Ghanians wailing infront of banks

The domino effect is not started.

Your mumu no too much . Even in Europe , there is limit to cash withdrawal, how much more feable africa .

rvp20182:
In a month I can predict a bank run on Ghana banks and their collapse.
Banks operate on trust.
On trust that your money is safe and you can take it anytime.
That is CARDINAL

Your prediction has no economical backup , so it is illogical. The bank has been strengthen to withstand the mess that may arise .


Dollar account is separate issue in banking system. . No country will allow a multiplier effect on her economy when it can easily be curb.

rvp20182:
Basic tenet of banking if against what you're saying.
What people are struggling is buying dollars.
Why people with dollars are sitting on them.

No sane country or bank will allow the nonsense you're saying.

You like baseless argument . Try it I dare you .

rvp2018:
I hope she is aware that you're brain damaged from all the boxing. If only you stayed in your village and used your education in hunting grabs - you would be most successfuly grab hunter in history of your village.

Evidence of kenya failed educational system.

rvp2018:
No bank has right to you money. If you have dollar account; you can withdraw anytime any day; the only restriction placed is on ATMS; if you walk to any bank; and say I want to empty dollar or cedis account; they should have no questions. THIS YOUR MONEY. You are not asking for loan. You put you money there as safety deposit box.

If you fail to honour that BASIC commitment; you are DESTROYING the SECOND PILLAR of your economy.

You already destroyed the 1st pillar - that GOV WILL NEVER DEFAULT.

Next is to destroy banking pillar - then people will do a bank rush - and try to keep their money below their mattress.

it is because you are lazy to understand what is happening in financial institution of africa country right now .

I repeat no bank will allowed you to release 50, thousand dollars of your own money in her account currently without having your proper documentation , though , they may give you the local equivalent. I dare you to let anyone you know to try it and come and show us evidence here.


There is too much mess in kenya financial crisis . You should worry more on that .

rvp2018:
Maybe you don't need to learn to cut grass or box; Maybe in your village; all you need to excel is to learn to milk cows; 90 percent of people eventually live and die in their villages; it doesn't make sense to teach them skills they will never use; if their trade is fishing; maybe if they were taught to fish better; they will become better in fishing.

There is no wasted skills, if you can't used it , learn to transfer it.


My niece of about 8 years old is learning free boxing training from me .

rvp2018:
First stop the anger and insults - it's going to be 20yrs minimum before Ghana recover.If you're in a mess dont assume everyone is in a mess. In kenya I am not aware of someone operating dollar account being limited. If anything there were romours of struggles when BUYING forex. What is in your account belong to you.

I don't tolerate stupidity, I won't spare your foolishness. Ghana already started recovering , dollar is falling , even at this yulitede period that we should be seeing skyrocketing price , food prices have remain the same for a month now ,on a normal time , December period comes with her on inflation but it seems the cedi is fighting back , something must have been the reason , there is much dollar coming in than going out . Or perhaps , the economy is gradually having a positive effect. There Will be push up from three billions imf next year , there is debt swap now to cussion the effect on the macro economy condition.


No country in africa now can allowed you to removed 50, thousand dollars in her bank account if you operate one without a serious proper documentation .