Nipate
Forum => Kenya Discussion => Topic started by: RV Heavy Hitter! on December 29, 2023, 09:14:45 PM
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Ugali of 250 shillings, cut to 140! Long way to go but by Year 3-5 GDP will be growing by 8%+
NAIROBI, Dec 29 (Reuters) - Kenya's economy grew 5.9% year-on-year in the third quarter of this year (KEGDPQ=ECI), compared to 4.3% growth in the same quarter of 2022, official data showed on Friday.
"This growth was mainly supported by a rebound in agricultural activities that had contracted in 2022," the Kenya National Bureau of Statistics (KNBS) said in a report.
Thanks to favourable weather conditions in the quarter, agriculture, forestry, and fishing grew by 6.7% compared to a contraction of 1.3% in the third quarter of 2022, the KNBS said.
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Kenya Ranked Fastest Growing Economy in Sub-Saharan Africa - World Bank
https://www.kenyans.co.ke/news/96013-kenya-ranked-fastest-growing-economy-sub-saharan-africa-world-bank
“In 2019, almost one-third of Kenyans (33.6 per cent) were living below the national poverty line, a 13.1-percentage- point decline from 46.7 per cent in 2005/06 (Figure 1). This translated into a decline in the number of poor Individuals,” the report indicated.
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Growth driven by agriculture output due to above normal rainfall. Tourism due to several conferences and summits. Finances due to increased rates, the downside to this is that credit growth hasn't bulged with banks lending rates at 18% and above. All the government interventions e.g fertilizer subsidy and hustle fund had little impact and added more debt. If agriculture output was driven by increased productivity e.g better plant genetics and breeding, that would be sustainable and worth celebrating.
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?t=ohzu3GSi7Qu189kZqBxqGA&s=19
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Look at people in nyahururu as ruto is giving his speech. Not even paying attention to him.
<blockquote class="twitter-tweet" data-media-max-width="560"><p lang="en" dir="ltr">Awuoro Nyahururu. You don’t want your blessed government? <a href="https://t.co/NBdFKitUeh">pic.twitter.com/NBdFKitUeh</a></p>— Robert ALAI, HSC (@RobertAlai) <a href="?ref_src=twsrc%5Etfw">January 11, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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This Regular Oga says only Senegal, Mauritania, UG and TZ will grow 5%+ in 2024 onwards. Kenya is not even top 10.
https://africa.businessinsider.com/local/markets/10-african-countries-set-to-experience-the-highest-leaps-in-economic-growth/4mzsq19
I disagree - Kenya might not do so well this 2024 - due to debt adjustment shocks - as Ruto wean them out of binge borrowing. Beating addiction is painful.
But Kenya has serious advantages
1. The infra is in place which explains the debt liability. Including new system (CoK2010, devolution, reforms bla) - which is big tick for investment climate. This will pay dividends big time
2. Ruto is visionary. And I mean the man not the coterie of Ndiis, Kurias, Mdvds. The jetset strategy - he is courting FDI - as s only Ruto's forked tongue can do.
3. By this above point 2 I mean Ruto is milking the geoeconomic posture or status quo - Ethiopia is at war, Egypt faces Gaza exodus catastrophe, Sudan is at war, South Sudan is dead, Somalia is in tatters, Tanzanians poor English is big blunder. Literally the only competition is landlocked kingdom of UG and tiny autocratic Rwanda. Or bow-legged, toothless DRC.
The geoeconomic situation favors Kenya and we must ride the wave to Canaan.
Ruto is right to look West - because East has diminishing returns on hard infra as it's strength. The condition strongly favors western MNCs, VCs, etc. South Africa, Namibia are very politically hostile to the west presently - cause Israel - and this is blood in the streets moment for Kenya.
Ignore buffons like Malema and focus singularly on hunting for investors, capital and talent.
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EU geoeconomics https://fortune.com/europe/2024/01/21/europe-global-chip-dependency-tech-consulting-capgemini/
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Ruto should scratch Jewish oligarchs back like this
Elon Musk pays somber visit to Auschwitz concentration camp during Poland visit
https://www.teslarati.com/elon-musk-visits-auschwitz-concentration-camp/
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Kenya's mobile-money growth hits 16-year low following government tax move
Kenya, a trailblazer in mobile money transactions in Africa, experienced the slowest growth in transfers last year since 2007, following the government's decision to raise excise duty on transaction fees, Bloomberg reported.
The number of mobile wallets also saw a 6% rise, reaching 77.3 million by the end of 2023.
The 0.5% growth in the value of transactions in 2023 represents the slowest pace since the introduction of the service in March 2007. This deceleration is a result of the increase in excise duty on transaction fees, which rose to 15% last year from the previous 12%, as reported by the Kenya Revenue Authority.
https://africa.businessinsider.com/local/markets/kenyas-mobile-money-growth-hits-16-year-low-following-government-tax-move/he3n6xf
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If Ruto manage to scale this $800m to $10B - I will dump senile Raila. Bottom-up, etc - is nonsense - this is the solid stuff. Dimwits like Noway and Kadudu obviously don't get it.
?t=ohzu3GSi7Qu189kZqBxqGA&s=19
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What are boda boda and mama mbogas saying on the ground? That is all that counts. Hata dimwits can think for themselves.
If Ruto manage to scale this $800m to $10B - I will dump senile Raila. Bottom-up, etc - is nonsense - this is the solid stuff. Dimwits like Noway and Kadudu obviously don't get it.
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:) :D I knew you couldn't resist
What are boda boda and mama mbogas saying on the ground? That is all that counts. Hata dimwits can think for themselves.
If Ruto manage to scale this $800m to $10B - I will dump senile Raila. Bottom-up, etc - is nonsense - this is the solid stuff. Dimwits like Noway and Kadudu obviously don't get it.
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Just answer my question.
:) :D I knew you couldn't resist
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Kadush the pain is temporary as Ruto shifts gear from debt-driven growth to abit self-reliant. Kenya tax to GDP ratio is 18% - like most of Third world. You should aim to be in 20s territory of South Africa, Mexico, Turkey, Bangladesh.
Advanced economies have 30-40%. Generally it goes up as per capita rises - and is an indicator of economic efficiency. Or how sustainable the economic growth is. Basically debt-driven growth is bad - which is why tax collection should be very efficient to reduce borrowing.
Countries with high tax-to-GDP can equally borrow more - and still live within their means.
I believe Ruto digitized tax collection will squeeze evaders and is big milestone. That and affordable housing which outright increases taxes and immediately put them to use - VERY EFFICIENT... the results will out in a few years.
To summarize the lecture above - Kenya has been living above its means on debt - you need to live within your means - which explains the temporary pain.
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Kadudu what Ruto is doing - at least in my eyes from my very cosy cottage - by housing scheme, digital services, jetsetting - ticks many boxes
Reign in debt - optimize tax yield - invest new tax in housing - hunt for foreign capital. Smart moves - and FDI at scale is what you need the most - cause it's inward capital flow thru investment not borrowing.
Pain is obviously exacerbated by rising interest rates last 2 years in US and developed world to beat inflation - which affects KSh value vs dollar etc - and will level back as inflation and rates here come down.
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And of course I don't really think Kadudu or Nowayhaha are dimwits :) that was said in jest.
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KSh will level back in time
Shilling in rare upturn, records biggest gain in three years
https://www.businessdailyafrica.com/bd/markets/currencies/shilling-in-rare-upturn-records-biggest-gain-in-three-years--4502644
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Seem Naivasha SEZ is off to a good start with 6 companies pumping in 30B in steel, glass, logistics, fragrances or perfumes, EV assembly or manufacturing[?]
Naivasha Economic Zone to create 100,000 jobs – CS Miano
15 January 2024 - 19:08
https://www.the-star.co.ke/news/2024-01-15-naivasha-economic-zone-to-create-100000-jobs-cs-miano/
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Jetset Ruto is off to Japan straight from wining & dining Poland investors. He need to apply his forked tongue all over to court investors. This jetset agenda will pay big as he aggressively markets SEZs.
AV Kenya has been on the runway for years it just needs a proper talent to take off.
Ruto to leave for Japan tonight on a State visit
(https://lh3.googleusercontent.com/UTYwGLWF4ouGDxfB75VsVHCIElhapY3FxZ_ZSn2NC9uibZqq9PQr4dbs9E_VA1xWe7HFUbrK0fWeflfkRXOvuNmrn0KZf85SC5E4DNn-=s498)
https://www.the-star.co.ke/news/2024-02-05-ruto-to-leave-for-japan-tonight-on-a-state-visit/
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Ruto to Polish investors: Why you should invest in Kenya
(https://lh3.googleusercontent.com/4yb7oB7GdoPZdFGkJ8ix-C70ESp3dh6dbrtAnf9iLCur5UJBl_JA4wl1_LmywOgGCx4shDuwTSn8do_M-EWXkklacEegqx0QgrvVnQss=s750)
https://www.the-star.co.ke/news/2024-02-05-why-you-should-invest-in-kenya-ruto-to-polish-investors/
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This is the same Poland that denied Africans safe passsge out of ukraine?
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KAA switches to cashless... after tuition fees, birth certs, passports and shebang. This is definitive move.. I really want to see Ruto pull this off - and net revenues equal to 30% of GDP.
This digital and FDI should step up GoK to well-greased operator without Exim or IMF debt yoke. $35B from present 15 or 18B - escape budget deficit once and for all. Or well access cheap debt with clean balance shit.
Once you line all the stars... GoK can be among big league that have an INTELLIGENT, EFFICIENT STATE.
Kenya Airports Authority services shift to cashless payment
•The move comes in line with President William Ruto’s directive to public institutions to digitize their services to streamline government services and reduce losses in revenue.
•To access the services, customers use the USSD code *566# on their phones and select an airport from the options provided.
Chief of Staff and Head of Public Service Felix Koskei lauded the government's move to go digital.
Revealing milestones achieved, Koskei highlighted that since government services became available on e-citizen, the state has been generating Sh281 million daily in revenue.
https://www.the-star.co.ke/news/2024-02-06-kenya-airports-authority-services-shift-to-cashless-payment/
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This is the same Poland that denied Africans safe passsge out of ukraine?
If you try harder I suspect you can see the forest from the trees... and the trees from the forest. I am certain of it.
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Chief of Staff and Head of Public Service Felix Koskei lauded the government's move to go digital.
Revealing milestones achieved, Koskei highlighted that since government services became available on e-citizen, the state has been generating Sh281 million daily in revenue.
This Sh281 million a day is meagre 3% improvement. Still commendable.
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Are these all government services? So now even school fees and paying for lunch at UoN will be considered "government services".
This Sh281 million a day is meagre 3% improvement. Still commendable.
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Anything going to public coffers should be digitized. That 281m per day has been recovered from the pigsty. A thief is by design equally the best banker.
Are these all government services? So now even school fees and paying for lunch at UoN will be considered "government services".
This Sh281 million a day is meagre 3% improvement. Still commendable.
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In China, everything is digitized so you cant escape paying tax.
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Does digitlsation mean all payments to one account?
In China, everything is digitized so you cant escape paying tax.
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Does digitlsation mean all payments to one account?
In China, everything is digitized so you cant escape paying tax.
NRB digitized its parking revenue collection and the boost was great.
Yes it goes to one accoount, and its instant so mngmt can tweek it to collect more.
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Nairobi County collects fees for Nairobi County. Now national government collecting school fees for a school in Muranga. When will the cash be released for the school to use? So schools will become like counties, busy begging for realease of funds by the national government.
NRB digitized its parking revenue collection and the boost was great.
Yes it goes to one accoount, and its instant so mngmt can tweek it to collect more.
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Nairobi County collects fees for Nairobi County. Now national government collecting school fees for a school in Muranga. When will the cash be released for the school to use? So schools will become like counties, busy begging for realease of funds by the national government.
NRB digitized its parking revenue collection and the boost was great.
Yes it goes to one accoount, and its instant so mngmt can tweek it to collect more.
I was giving you an example.
Currently, money is very tight so govt only pays ....................
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The shilling's miraculous recovery.
Dollar buying, selling at Sh145 and 148 respectively - Kenyan Banks say
https://www.the-star.co.ke/news/2024-02-15-dollar-buying-selling-at-sh145-and-148-respectively-kenyan-banks-say/
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The shilling and the economy on a roll
AfDB projects growth in Kenya at 5.4% in 2024
According to the report, Kenya will post improved economic performance due to higher public investment in major growth sectors such as manufacturing and services.
AfDB's report further points out that Kenya will also benefit from substantial capital input in critical public infrastructure including electricity, transport, and logistics networks. After assessing the specified factors, the continental body projects that Kenya will record 5.4 per cent growth in 2024.
https://www.kenyans.co.ke/news/97702-afbd-projects-economic-growth-kenya-and-other-african-countries-2024
Housing scheme is a super-efficent economic. Basically takes disposable income or expenditure direct into public investment.
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TRIFIC SEZ:... Lo and behold a real mwafrika incubator!
I see a few good points over the KONZA white elephant in Machakos:
Geography - a proper satellite at Two Rivers, Limuru Road, 10km from CBD. Central Kenya actually remains the center. KONZA was in Kajiado actually.
Organic growth - Two Rivers is a real estate project spearheaded by Centum - Chris Kirubi's brainchild. He was an amoral chap worshipping money - but give it to him. What was essentially a failed commercial real estate - is a potentially successful incubation center.
Private-public partnership - principally Centum is a private company with key stake over GoK. This guards against endemic corruption since it not mali ya umma. Even Ruto itchy fingers cannot touch this one - whileas he can easily tout it as a successful KK project.
FDI - there is significant drive for foreign investors to set foot in Kenya. Championed by Ruto et al. Principally KONZA failure was caused by poor timing when only Ndemo and Shem Ochuodho knew anything about the tech boom in the West.
Conversely, TRIFIC biggest upside is right TIMING. People know about tech success stories in the US Silicon Valley, Eindhoven (EU), Wadi Valley (Israel), Zhongguancun (China). They know tech is a revolutionary INDUSTRY (although a few IT types still think tech is computers and geeks - like RV Punda :) They know mzungu is not just European tourist but revolving door of global capital. Envoys are capital and talent scouts not golden parachute for electoral rubble.
The venture capital industry is very globalized after maxing out the benefits of capitalism in the developed world. Not only capital but talent is globalized now more than ever.
Until Kenya is big enough to offer the world a green card, you must have a jetset leadership hunting for FDI. Brand Kenya does not yet sell itself and PORK must double down as ambassador in chief - touting TRIFIC, Dongo Kundu, Naivasha dry port - the etc - and other vantages Kenya possesses. Including talent and infra dividends, geoeconomic leverage of everyone but Kenya is in turmoil in the region or the Greater Sub Sahara.
Even selling Old Raila to AU chairmanship :), - mzungu will be entertained by bumbling Kenyan muppet. Kenya will be top-of-mind for something besides athletics and yellow corn.
Kenya must tap the monsoon.
Startups to Capitalize on Incentives at TRIFIC SEZ Innovation Hub
https://kenyanwallstreet.com/startups-to-capitalize-on-incentives-at-trific-sez-innovation-hub/