₦airaland Forum

rvp2018:
And you do that mostly from oil & minning industry. I don't think you understand Kenya economy. If Nigeria - is sweating - poor Ghana will not even attempt to compete with Kenya.

Projected tax revenues for this year - ordinary taxes will be 16-18B dollars. That is twice what Ghana will collect. And we don't have any oil or gold or alumiminum.Non-ordinary taxes will be 4B dollars!

Our budget is 30B dollars - we spend about 5B dollars in education. Your free school and double track is not even worth half a billion dollar

Kenya is not Ghana mate. You're too small a potato. Nigeria is already down and out.

rvp2018:
The last refuge of a scoundrel is base insults and adhomimnem

rvp2018:
1) Nigeria stock exchange is worth 30-40B dollars. Ghana is worth 61-65B cedis - which about 11B dollars. Kenya is the one that is worth 25B dollars.

2) Your anecdotal evidence cannot triumph empirical evidence. Just because you never saw or meet kenyans - doesn't mean they don't exist.

For example Kenya use to lead in Africa sending 7,000 to US - but the number has now declined as we fixed our local universities - and save our dollars - now we send about 3,000 - with Nigeria leading at 9,000.

rvp2018:
This is not academic journal. This is forum where prima-facia evidence is enough to pass. Evidence is Ghana re-based twice in 10yrs. The first saw a GDP jump of 60% and the last curious one saw 25%. Tanzania also did the same. The last one saw 3% jump. They were also equally desperate.

rvp2018:
The basic rules of sound argumentation. If you dispute my source - bring another more credible source. I am surprised you went to 3 universities and never got the basic of right thinking humanbeing...were you that dense?

I know for a fact Ghana re-based aggressively -esp the 2018 one was just curious - because they had re-based with everyone around 2012/2014 - when Nigerian suddenly became 500B dollar behemoth.

Why would Ghana be in hurry to re-base without any significant data like census or major HH - apart from gov desperation to get out of IMF emergency facility -

theenchanter:
some things are better heard from d people in order to get d right information..... not through d internet.

rvp2018:
1) The company you read is Safaricom - 12Billion dollars BEHEMOTH - that is worth all listed Ghana companies. Dangote Grp is worth 11B dollars.

2) Education - I don't know where Ghana leads - but Kenya was leading in student numbers in US & UK - until we started fixing our universities last decade.

3) You ignorance of anything outside Nigeria & Ghana is very transparent.

rvp2018:
Just30,

Ghana aggressively re-based as it was put into IMF 'emergency' room after getting into debt spiral & currency devaluation.

For the second time in less than 10 years Ghana’s GDP has seen a huge increase as a result of a change in the base year used in the calculation.
https://www.ceditalk.com/2018/10/ghanas-rebased-gdp-explained/

In 2010, the base year used for Ghana’s GDP calculation was changed from 1993 to 2006. The country’s GDP jumped by 60% and the services sector was recognized as the largest contributor to GDP, replacing Agriculture. The recent change of the base year from 2006 to 2013 has resulted in a 24.6% jump in GDP to GH¢256 billion.

theenchanter:
have u been there before? Did u use ur korokoro eyes to witness d emboldened?

All these depiction of opinions as d reality sef.

rvp2018:
Employ a Kenyan CEO is different from employing a Kenyan. Kenya attract more Multinationals than any country in SSA outside South Africa. In terms of number of Kenyan in Ivy League - Kenya is competing with Nigeria - Ghanians are nowhere in Harvard or Yale or such schools.

In PISA like test done in Southern & Eastern Africa countries - Kenya kids annually excel - only 2nd to Mauritus - with South Africa distant

Yale Director for Africa “Kenyans continue to hold the largest share of admissions to Yale from Africa, which shows the premium the country puts on quality education.” Data from Yale University provided information on the admission rates of African students with Kenyans taking the biggest slice of the pie with 24 admissions. Nigerian followed closely in admissions with 23 students, Zimbabwe secured the third spot with 18 admissions and South Africa were in last with 16 admissions.

rvp2018:
What make you think a few yahoo boys in Ghana have more money than informal sector say in kenya - a kenya that is corruption & drug haven. Let me tell you a typical traffic police in Kenya - has millions of Kshs - in black economy. My cousin is a cop - his daily target is 200 dollars - he is just a police constable.Kenya black economy is huge but hardly something to be proud about. The average kenyan pays 45 bribes annually - but country remain a thriving swarm of corrupt - so much Ghana vision 2030 is to be like Nairobi in 2010.

Just30:
he doesnt no

He hasn't heard of the Ghanaian economic magic

Where someone living on a 2000 cedis pay is able to build an 8 bedroom mansion and drives a porch car.

rvp2018:
You're too light-weight. The data I quoted are projected 2019 tax figures. Ordinary taxes will be around 45 B Ghana cedis - roughly 8B dollars. I wonder what % of this come from minning and oil industry.

Just30:
Ethiopia is a special case in Africa after many years of battling droughts and famine

rvp2018:
You just invent words - financial stability is what? Let try stick to empirical evidence - not make-belief about some high income informal sector big boys living large in slums.

Here is your budget
https://www2.deloitte.com/gh/en/pages/tax/articles/ghana-2019-budget-commentary-tax-highlights.html

Revenues around 57 billion Ghana Cedis which translated 10B dollars. Kenya does about twice that.

You capital expenditure is 11-12%(development budget) - your debt servicing is around 24-25%.

rvp2018:
What do you mean revenues? You mean gov revenues? Or you mean trade - export revenues. Kenya doesn't have natural resources like you - in most typical African countries - our remittance is also very low - now approaching 3b dollars - our trade deficit is whopping 11B dollars (we export about 6B dollars and import 18-20B dollars worth of goods). Our gov revenues are approaching 20-21B dollars.

In short - Ghana is typical Africa country dependant on minerals - Kenya outside South africa has the MOST SOPHISTICATED DOMESTIC ECONOMY that makes nonsense of 11B trade deficit.If you look at say our retail & wholesaling - formal trade it inching towards 40%. Kenya is 2nd to south africa in luxury goods market.

For example - six carre four stores in Nairobi - closed nearly 150M dollars in total sales
https://www.businessdailyafrica.com/corporate/companies/Carrefour-s-Kenya-sales-hit-Sh14bn/4003102-5057928-p3eh5iz/index.html

In short - Ghana is still largely primitive informal economy held together by minning, oil & remittance - while Kenya is well diversified sophisticated market - that is secondly only to south africa - and quickly formalizing.

rvp2018:
Dangote surely knows the industry stats in a market he operates. You gave me dodgy websites.

rvp2018:
Well hotel or restaurants - middle class should be able to dine there once in a while. You cannot hide wealth or progress in shadow or informal. It doesn't exists.

Just30:
no
informal economy is a clear manifestation of a real shadow economy and globally, that economy is worth more than the known economy.

Who goes to a hotel to dine?
that is not the purpose of a hotel.

whiles people build wealth, they send their kids to better schools, buy luxury, go on vacations, shops and drive cars

Shma:
Somehow, but what will you say about Tz and Ethiopia case, they have twice our population but our GDP still doubles theirs , yeah huge population like the one of Nageris will for sure influence.

Shma:
Seems Ghana is far much developed than any other country in west.! Your HDI is slightly high above Kenya and far much ahead of any other west African. But when it come to economy I guess GDP speaks it bro. We are ahead of you guys in GDP.

Just30:
no not really

The money being spent would make more sense if spent on the alternative propose by Dr. Thomas Mensah

Jonraid:
You are arguing with a baby!

rvp2018:
Actually I was wasting my time and energy - Ghana is just poor country like kenya. It has roughly same GDP per capita - about 2,200?

rvp2018:
I find that hard to believe. I think as country become rich - it starts looking rich - organized - formal. Officially Ghana gdp per capita is about 3000 - just a few dollars to join middle class nation - and it doesn't look the part.

Opps I think GDP per capita is 2000 or around - well no need to sweat it. That is about right.

rvp2018:
It's intriguing enough. What is not deniable is they are doing well in natural resources - oil plus minning. Outside those sectors I am starting to have my doubts.

Just30:
and i have given you proof that it outperforms what you have in Tanzania.


I just cant imagine how a country with twice the population of Ghana is outperformed in real estate demands by Ghana.

That small Dar Es Sallam area you keep posting makes you think you are developed.
Ghana has gone far beyond that.

These days in Ghana, there are villages that you can hardly call villages

rvp2018:
All that reflect in STANDARD OF LIVING and QUALITY OF LIFE. You don't need my bank account to know I am doing badly or well. Informal sector for example is clearly manifestation of under-development. As people get richer, they drive cars, shop in supermarkets, dine in branded hotels, fly for vacations, send their kids to good schools and buy luxury goods.

Problemkid1:
Nice one? Yeah I also watch it when Nana Addo is telling all the governor in Ghana to avoid budget for 2020 election. Something like that? Can't remember anymore!

Well, that's good project from Ghana?

Shma:
That means you are the king of west . Big up bro.! But I don't understand the one at bolded.

rvp2018:
I was ready to give Ghana the benefit of dubt until I saw Kumasi and Accra. Yes on face value - Ghana does look good - progressive middle class country - but why isn't the middle class manifesting itself. If you go to South Africa - you don't need stats - to say - this is a middle class country. If you go to Namibia - you don't need to have been even to school to know they are doing good - same with Botswana.

Shma:
This is ironical, lol!