Nipate
Forum => Kenya Discussion => Topic started by: KenyanPlato on October 01, 2019, 01:52:27 AM
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Mediamax sends layoff notices
Tea prices crash leaving farmers bitter and broke
All indicators are that overtaxation has brought the economy to it's knees
Everyone and their mother is reporting layoffs meaning companies expect next year to be even worse
The infrastructure zero growth spending has finalky unravelled
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This is why we need to restructure government to be efficient
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Uhuruto is nothing but Nyayo 2.0 Wizi mtupu and incompetence pure only difference the theft is financed through debt. 5 trillion and nothing to show for it. You can rig elections but you cannot rig the economy. SGR payments kicks in January, noose will only get tighter.
Mediamax sends layoff notices
Tea prices crash leaving farmers bitter and broke
All indicators are that overtaxation has brought the economy to it's knees
Everyone and their mother is reporting layoffs meaning companies expect next year to be even worse
The infrastructure zero growth spending has finalky unravelled
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The money economy is expected to grow by 5.8% .. just a few points from 6.1% it did last year.Evidence suggest Uhuru would have doubled the economy in 6yrs to 100B and will likely triple it by the time he leaves.Kenya economy would probably be the 5the biggest just behind Nigeria, South Africa, Egypt and Algeria in nominal terms.
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The money economy is expected to grow by 5.8% .. just a few points from 6.1% it did last year.Evidence suggest Uhuru would have doubled the economy in 6yrs to 100B and will likely triple it by the time he leaves.Kenya economy would probably be the 5the biggest just behind Nigeria, South Africa, Egypt and Algeria in nominal terms.
Economy grew at 5.6% rate but that's besides the point. Those numbers don't indicate the most important number in a economy, GDP per capita or incomes. So the economy has doubled but gdp per capita has barely budged https://tradingeconomics.com/kenya/gdp-per-capita . Debt has doubled http://www.ieakenya.or.ke/number_of_the_week/trends-of-the-public-debt-in-kenya but incomes hasn't changed. This is the dichotomy of jubilee economy, heady numbers but zero tangible results of increase in incomes. You can "double" the economy by borrowing. Its like a company borrowing to increase revenue but having minimal increase in net profit numbers, its almost a zero sum game.
Meanwhile crazy regulations and directives are killing innovative sector of the economy https://www.standardmedia.co.ke/article/2001343927/tech-firm-little-shuttle-cry-foul-after-directive-to-halt-operations . Jubilee government believes in bureaucratic command economy so that they can perpetuate crony capitalism.
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Facts. Last year our economy grew by 6.1%. This year projection are around 5.8% (latest CBK). GDP per capita has increased from around 1000 to nearly 2000 usd since Jubilee took over. On average Jubilee has outdone all previously gov...and we are yet to rebase...we will soon...possibly 2022/2023. Gov revenues have grown from 700B when Kibaki left to nearly 1.6 trillion.As of this year - Kenya will be 65th largest economy in the world.Already Ease of Doing Business 2019 is out - with kenya still amongst the biggest reformers....I think in Africa we will only be now second to Rwanda. FDI is flowing like never before. Japanese are taking over from Chinese..throwing us at least 1.5B dollars at nearly zero interest loan. Major transformative infrastructures are on card...JKIA-Gichuru at 70B...dualing of Eastern-Northern bypass for 40B. Dongo Kundu SEZ and free port are on card. Major work on Likoni and Dongo Kundu (Mombasa southern by-pass). LAMU port is ready for business. SGR Phase 2A is done. Mombasa port is expanding and become one of Africa's most efficient port. Jubilee has done very well..new roads have doubled (from 10K to 20K paved road network...fastest electrification in the world)...but the BIG 4 is dead..and Uhuru has to either stop drinking or give Ruto the saddle.
The money economy is expected to grow by 5.8% .. just a few points from 6.1% it did last year.Evidence suggest Uhuru would have doubled the economy in 6yrs to 100B and will likely triple it by the time he leaves.Kenya economy would probably be the 5the biggest just behind Nigeria, South Africa, Egypt and Algeria in nominal terms.
Economy grew at 5.6% rate but that's besides the point. Those numbers don't indicate the most important number in a economy, GDP per capita or incomes. So the economy has doubled but gdp per capita has barely budged https://tradingeconomics.com/kenya/gdp-per-capita . Debt has doubled http://www.ieakenya.or.ke/number_of_the_week/trends-of-the-public-debt-in-kenya but incomes hasn't changed. This is the dichotomy of jubilee economy, heady numbers but zero tangible results of increase in incomes. You can "double" the economy by borrowing. Its like a company borrowing to increase revenue but having minimal increase in net profit numbers, its almost a zero sum game.
Meanwhile crazy regulations and directives are killing innovative sector of the economy https://www.standardmedia.co.ke/article/2001343927/tech-firm-little-shuttle-cry-foul-after-directive-to-halt-operations . Jubilee government believes in bureaucratic command economy so that they can perpetuate crony capitalism.
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Facts. Last year our economy grew by 6.1%. This year projection are around 5.8% (latest CBK). GDP per capita has increased from around 1000 to nearly 2000 usd since Jubilee took over. On average Jubilee has outdone all previously gov...and we are yet to rebase...we will soon...possibly 2022/2023. Gov revenues have grown from 700B when Kibaki left to nearly 1.6 trillion.As of this year - Kenya will be 65th largest economy in the world.Already Ease of Doing Business 2019 is out - with kenya still amongst the biggest reformers....I think in Africa we will only be now second to Rwanda. FDI is flowing like never before. Japanese are taking over from Chinese..throwing us at least 1.5B dollars at nearly zero interest loan. Major transformative infrastructures are on card...JKIA-Gichuru at 70B...dualing of Eastern-Northern bypass for 40B. Dongo Kundu SEZ and free port are on card. Major work on Likoni and Dongo Kundu (Mombasa southern by-pass). LAMU port is ready for business. SGR Phase 2A is done. Mombasa port is expanding and become one of Africa's most efficient port. Jubilee has done very well..new roads have doubled (from 10K to 20K paved road network...fastest electrification in the world)...but the BIG 4 is dead..and Uhuru has to either stop drinking or give Ruto the saddle.
The money economy is expected to grow by 5.8% .. just a few points from 6.1% it did last year.Evidence suggest Uhuru would have doubled the economy in 6yrs to 100B and will likely triple it by the time he leaves.Kenya economy would probably be the 5the biggest just behind Nigeria, South Africa, Egypt and Algeria in nominal terms.
Economy grew at 5.6% rate but that's besides the point. Those numbers don't indicate the most important number in a economy, GDP per capita or incomes. So the economy has doubled but gdp per capita has barely budged https://tradingeconomics.com/kenya/gdp-per-capita . Debt has doubled http://www.ieakenya.or.ke/number_of_the_week/trends-of-the-public-debt-in-kenya but incomes hasn't changed. This is the dichotomy of jubilee economy, heady numbers but zero tangible results of increase in incomes. You can "double" the economy by borrowing. Its like a company borrowing to increase revenue but having minimal increase in net profit numbers, its almost a zero sum game.
Meanwhile crazy regulations and directives are killing innovative sector of the economy https://www.standardmedia.co.ke/article/2001343927/tech-firm-little-shuttle-cry-foul-after-directive-to-halt-operations . Jubilee government believes in bureaucratic command economy so that they can perpetuate crony capitalism.
Facts table the GDP per capita numbers and debts numbers. Are you disputing this numbers http://www.ieakenya.or.ke/number_of_the_week/trends-of-the-public-debt-in-kenya and GDP per capita https://www.ceicdata.com/en/indicator/kenya/gdp-per-capita. The GDP per capita in 2013 was 1350 not 1000. Ease of doing business measures processes not how vibrant the economy is, what's important is how free the economy is. The much heralded FDIs are mainly in infrastructure good but not as good as if the FDIs were in mostly investment in private( not shylock fintechs). Mark you having a big public budget isn't a sign of development. Universal electrification with almost 1m idle connections, also poor people being subsidized to have electricity is hardly good or efficient for the economy. This actually is a negative.
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All that is captured by GDP - all economic indicators - Jubilee has consistently grown by 6%. Your economic freedom theory is not backed by any empirical evidence as a silver bullet. Infrastructure deficit we have is huge.That private sector is doing baldy is also not backed by empirical evidence - just anecdotal stories of one or two companies - yes private credit from banks has fallen - and that need fixing. You deride Fintech - yet they are trying to fix access to credit - a major issues for SMES - which explain why Kenyans are borrowing billions from them.
The private sector lending has been this bad...while public sector lending has been very good. That Uhuru has managed to convince investors including China to lend that much is commendable.
(https://cytonnreport.com/storage/research/5d9088498c26a3.48915694.png)
And so has NPL
(https://cytonnreport.com/storage/research/5d90886f84fe14.23712181.png)
Facts table the GDP per capita numbers and debts numbers. Are you disputing this numbers http://www.ieakenya.or.ke/number_of_the_week/trends-of-the-public-debt-in-kenya and GDP per capita https://www.ceicdata.com/en/indicator/kenya/gdp-per-capita. The GDP per capita in 2013 was 1350 not 1000. Ease of doing business measures processes not how vibrant the economy is, what's important is how free the economy is. The much heralded FDIs are mainly in infrastructure good but not as good as if the FDIs were in mostly investment in private( not shylock fintechs). Mark you having a big public budget isn't a sign of development. Universal electrification with almost 1m idle connections, also poor people being subsidized to have electricity is hardly good or efficient for the economy. This actually is a negative.
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Who has ever eaten GDP? How many formal jobs is this economy creating?
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Technology is killing jobs while growing the economy of the country and the capital owners. The future is jobless economy - that is why universal income is way to go - or well new jobs - otherwize most of traditional jobs are being computerized or robotized. For example, Kenya banking industry, is retrenching annually, as profitability increases. They are now closing branches - and going fully digital - most of the banking is now done through the phone - even ATMS are going extinct - nobody is walking with cash.
The future will be a huge company - with huge servers -- and huge team of customer-care specialists - receiving phone calls and that is pretty the employment you'll see...computers will do the rest.
Who has ever eaten GDP? How many formal jobs is this economy creating?
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Automation won't take away jobs any more than computers did. There will be new opportunities - so new millionaires and new workers with new skills. Anyone who fails to adapt like say makanga - all those jobs will die including cotact centers. As bots become efficient.
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Of course GDP doesn't measure everything about the economy. If you have a big income with huge debt - your GDP is high, but your net income is small. Depending on how you invest your debt, your networth may in fact be lower than before.
Let alone other factors on the health of a society outside of economy. Such as security, equality, cohesion, etc.
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Kenya's runaway debt, betting and shylock business are not indicators of growth.
In certain cases, it is not clear that a rise in GDP is even a good thing. If a city is wrecked by a hurricane and then experiences a surge of rebuilding construction activity, it would be peculiar to claim that the hurricane was therefore economically beneficial. If people are led by a rising fear of crime to pay for installation of bars and burglar alarms on all their windows, it is hard to believe that this increase in GDP has made them better off. In that same vein, some people would argue that sales of certain goods, like pornography or extremely violent movies, do not represent a gain to society’s standard of living.
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Try GNI - if you're interested in Income.
Of course GDP doesn't measure everything about the economy. If you have a big income with huge debt - your GDP is high, but your net income is small. Depending on how you invest your debt, your networth may in fact be lower than before.
Let alone other factors on the health of a society outside of economy. Such as security, equality, cohesion, etc.
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As Pundit always says “economy will outgrow the debt”. It’s like a drunk who keeps keeps assuring self that his massive weight will take care of it.
Kenya's runaway debt, betting and shylock business are not indicators of growth.
In certain cases, it is not clear that a rise in GDP is even a good thing. If a city is wrecked by a hurricane and then experiences a surge of rebuilding construction activity, it would be peculiar to claim that the hurricane was therefore economically beneficial. If people are led by a rising fear of crime to pay for installation of bars and burglar alarms on all their windows, it is hard to believe that this increase in GDP has made them better off. In that same vein, some people would argue that sales of certain goods, like pornography or extremely violent movies, do not represent a gain to society’s standard of living.
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As Pundit always says “economy will outgrow the debt”. It’s like a drunk who keeps keeps assuring self that his massive weight will take care of it.
Kenya's runaway debt, betting and shylock business are not indicators of growth.
In certain cases, it is not clear that a rise in GDP is even a good thing. If a city is wrecked by a hurricane and then experiences a surge of rebuilding construction activity, it would be peculiar to claim that the hurricane was therefore economically beneficial. If people are led by a rising fear of crime to pay for installation of bars and burglar alarms on all their windows, it is hard to believe that this increase in GDP has made them better off. In that same vein, some people would argue that sales of certain goods, like pornography or extremely violent movies, do not represent a gain to society’s standard of living.
our debt servicing is 30% to budget... Tanzania is at 50% and Nigeria at 70%.Note huge part of our debts are guarantees to Parastals and private investors like those in power sector...if they don't default or we stick to the contracts...we neve have worry.Yes as long as GDP is growing, gov revenues growing, debt is not a problem.We are mostly debt refinancing now...and GDP next year wil be around 110B..so our GDP to debt wi drop.
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Even per capita won't tell you anything. Course it still the dicy, convoluted GDP that fail to account for many factors economic and non-economic. If there was a quality of life or happy index i would take it. For now say HDI and Gini to see Wanjiku level of impact.
Try GNI - if you're interested in Income.
Of course GDP doesn't measure everything about the economy. If you have a big income with huge debt - your GDP is high, but your net income is small. Depending on how you invest your debt, your networth may in fact be lower than before.
Let alone other factors on the health of a society outside of economy. Such as security, equality, cohesion, etc.
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Pundit if HDI is high and Gini low it tell you there is widespread sustainable prosperity.
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Kenya is relatively doing well despite all the propaganda
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Another evidence of struggling economy https://www.businessdailyafrica.com/economy/Kenyans-with-Sh100-000-in-bank-fall-to-13-year-low/3946234-5301742-plwpjl/index.html.
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Frankly speaking, I know not even one person in Kenya whose business is thriving more than it was in 2013. Pundit can give us all the statistics in this world, but reality on ground is totally a different story.
Kenya is relatively doing well despite all the propaganda
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Frankly speaking I go by KNBS - economic surveys. The economy is not doing as good as last year - but just slightly
Otherwise if you read this - you'll think Kenya is under a recession
These Business Daily headlines in 2019 tell a story different from one of a growing economy
1. Kenyans with Sh100,000 in bank fall to 13-year low
2. NSE hits 10-year low as blue chip stocks plunge
3. Kenya's trade surplus with Africa drops to record low
4. Cement use falls for first time in 17yrs
5. Tea price falls to five-year low on oil, devaluations
6. Insurance penetration drops to 15-year low
7. Nairobi house approvals slump to 5-year low
8. Homes tax drops 21pc on low property sales
9. Formal jobs fall to 6-year low despite GDP boom
10. Interbank rate down to an eight-year low
11. Private sector borrowing slows down to 10-year low
12. Power consumption dips to five-year low
13. Fuel consumption hits 3-year low on high taxes
14. Kenya’s maritime trade ranking at five-year low
15. Eurobond raises Kenya’s public debt to Sh5.8trn
16. 88pc of NSE share accounts dormant
Frankly speaking, I know not even one person in Kenya whose business is thriving more than it was in 2013. Pundit can give us all the statistics in this world, but reality on ground is totally a different story.
Kenya is relatively doing well despite all the propaganda
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Pundit, here lies the answer to your assumption, that Kenya is not in recession.
Government is the biggest spender and when government does not spend, the private sector feels the pinch.
In the Financial Year ending June 2019, for every Sh100 that the country earned from taxes, non-tax revenues and grants, Sh57 went into servicing debt.
This compares to only Sh25 Treasury paid six years ago.
https://www.standardmedia.co.ke/business/article/2001344778/treasury-panics-as-expensive-loans-push-country-to-the-cliff
Frankly speaking I go by KNBS - economic surveys. The economy is not doing as good as last year - but just slightly
Otherwise if you read this - you'll think Kenya is under a recession
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That is a lie. Treasury borrows 600B and use it to repay 600B - or around this year. We are doing what we call DEBT REFINANCING. The taxes and other non-tax revenues are then left to pay salaries, counties and fund development.
Pundit, here lies the answer to your assumption, that Kenya is not in recession.
Government is the biggest spender and when government does not spend, the private sector feels the pinch.
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GDP is turnover. If your duka sold 10million or 1billion - is of little significance until you account for the costs and liabilities. Your GDP is 1B - but you could infact be bankrupt. Turnover is sales ledger - ignoring P&L, balance sheet, etx.
High unemployment shows high income inequality.
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Try GNI. The point is GDP for the economy - has both or all sides - both the income and expenditure of the entire country. When you start arguing that GDP doesn't capture the economy - then you're just a moron - who want to argue about everything. When Moi era was bad - GDP was equally bad. When we had PEV - GDP contracted from 7% to 2%. When things are really bad - GDP figures will show - but for now - we have 2 or 3 sick sectors - but because our economy is so well diversified - the economy doesn't really feel the effect and is growing at 5.6%.
I warned Uhuru that bringing Raila to Jubilee mean machine will eventually see the economy tank to 4% - but let see if he will kick out Raila and let Ruto drive the gov as he should. Yeye akunywe pombe.
GDP is turnover. If your duka sold 10million or 1billion - is of little significance until you account for the costs and liabilities. Your GDP is 1B - but you could infact be bankrupt. Turnover is sales ledger - ignoring P&L, balance sheet, etx.
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Does not make sense. If Treasury borrows 600B today it has to pay interest to the 600B. That alone means Treasury has to borrow more than 600B to finance its debts. Also it is said the Eurobond II was used to finance local budget. So your assumption that alone the collected taxes finace the local expenses is wrong.
That is a lie. Treasury borrows 600B and use it to repay 600B - or around this year. We are doing what we call DEBT REFINANCING. The taxes and other non-tax revenues are then left to pay salaries, counties and fund development.
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Pundit what does rising unemployment mean or show about the economy?
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Let igore Ruto vs Babu for now.
As a GDP - sales volume or turnover shows the SIZE of your business but not its health. If you have big sales but dismal profits and credit rating - una kibarua ngumu. KQ is such a company. You can "go big" :) and buy many dreamliners - fly many routes - while your stock plummet and crediors bay for your blood. SGR, last-miles and the infrastructure binge are analogous to flashy dreamliners and new routes that mint losses.
Try GNI. The point is GDP for the economy - has both or all sides - both the income and expenditure of the entire country. When you start arguing that GDP doesn't capture the economy - then you're just a moron - who want to argue about everything. When Moi era was bad - GDP was equally bad. When we had PEV - GDP contracted from 7% to 2%. When things are really bad - GDP figures will show - but for now - we have 2 or 3 sick sectors - but because our economy is so well diversified - the economy doesn't really feel the effect and is growing at 5.6%.
I warned Uhuru that bringing Raila to Jubilee mean machine will eventually see the economy tank to 4% - but let see if he will kick out Raila and let Ruto drive the gov as he should. Yeye akunywe pombe.
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Refinancing is borrowing to repay the other loan. So we borrow from Peter to pay John. We pay John interest + principals. I am not talking about debt roll-over.
We are not LEVERAGING - that is adding new debts -- whatever you're calling new debt is actually used to pay old debt.
Does not make sense. If Treasury borrows 600B today it has to pay interest to the 600B. That alone means Treasury has to borrow more than 600B to finance its debts. Also it is said the Eurobond II was used to finance local budget. So your assumption that alone the collected taxes finace the local expenses is wrong.
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It shows the sectors that are growing are not the employing type. Mass employment happens in sectors like constructions & industry. It's hard to automate building and construction for example. But look at Banking - banks are shedding jobs - while their income is rising - and they are doing this because of technology - they are replacing brink & mortar (now accounting for 2% for example in Equity) - while digital payments are 98%.
Pundit what does rising unemployment mean or show about the economy?
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Wow how many jobs have been added in construction?
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Check labour reports - I think about 800K informal jobs are created annually. The banks are firing - but lots of people are finding jobs as banking agents - I think M-pesa and bank agents - are nearly 200K jobs now. They are found in every corner. There are lots of jobs for house maids :), watchmen and etc. Before you left for US - there were no Boda Boda - those jobs now employed at least 1M people :)
Few minutes ago I used Bolt Boda boda (digital taxi) from Kilimani to Kirinyanga road where I needed to buy a fuel pump. I paid 110shs.
These are the kind of jobs nobody want to talk about - boda boda, m-pesa ladies, banking agents.
Wow how many jobs have been added in construction?
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Which shows what about GDP?
It shows the sectors that are growing are not the employing type. Mass employment happens in sectors like constructions & industry. It's hard to automate building and construction for example. But look at Banking - banks are shedding jobs - while their income is rising - and they are doing this because of technology - they are replacing brink & mortar (now accounting for 2% for example in Equity) - while digital payments are 98%.
Pundit what does rising unemployment mean or show about the economy?
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You can be less cryptic. The real estate here is not restricted like twitter to 140 characters. Express yourself clearly madam Robina
Which shows what about GDP?
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Safaricom well now worth 11-12B dollars - that is clearly Forbes 1000 global company - M-pesa is making nonsense of your dooms day scenario for kenyan economy.
Safaricom’s M-Pesa has been recognised as one of the top 10 most influential finance projects of the last 50 years by Project Management Institute (PMI) in its 2019 Most Influential Projects list.
https://www.the-star.co.ke/business/2019-10-08-m-pesa-among-top-10-most-influential-finance-projects-in-last-50-years/
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Check labour reports - I think about 800K informal jobs are created annually. The banks are firing - but lots of people are finding jobs as banking agents - I think M-pesa and bank agents - are nearly 200K jobs now. They are found in every corner. There are lots of jobs for house maids :), watchmen and etc. Before you left for US - there were no Boda Boda - those jobs now employed at least 1M people :)
Few minutes ago I used Bolt Boda boda (digital taxi) from Kilimani to Kirinyanga road where I needed to buy a fuel pump. I paid 110shs.
These are the kind of jobs nobody want to talk about - boda boda, m-pesa ladies, banking agents.
Wow how many jobs have been added in construction?
Construction is dead. Even cement companies can use excess capacity in their mills to bake mandazi. I told you that economics is not mazematic but where science meets political science. Uhuru is a panicked man because he is about to leave behind a very bad economic record. Why you see young mothers reversing into Indian ocean you know that the situation is desperate. You are lucky to work in a industry that is recession proof. The lords of poverty industry you are in i. A rent seeking one.
I told you real estate was burst. I saved many investor by advising them to clear their debts before they were caught in cash flow crunch. Right now economics ya mawe is not even returning 10 percent. If you're unlucky investor that hit the shylocks you are dead.
Kenya economy is 90 percent informal. As long as it is raining 70 percent of the population can survive ...only urbanites feel the fill heat of failure of formal economy.
The fact that tea prices dropped by 34 percent last year we will see a lot of economic pressure in county towns. How is milk doing?
Anyway suraya...just saw a report by Centrum or cytonn and looks economics ya mawe died like rutos mou with uhunye
How many jobs d8d the economy great this month?
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Safaricpm is not a kenyan company ...majority of profits end in Europe and elsewhere
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Kenya economy is diversified enough to survive those. Real estate and construction have had issues since 2016 - after interest rate capping - and Uhuru compounded it by promising 500K units of cheaper housing that aren't happening fast enough. Tea issues are global issues...and farmers will be fine as soon as Pakistani and others are good.
Check labour reports - I think about 800K informal jobs are created annually. The banks are firing - but lots of people are finding jobs as banking agents - I think M-pesa and bank agents - are nearly 200K jobs now. They are found in every corner. There are lots of jobs for house maids :), watchmen and etc. Before you left for US - there were no Boda Boda - those jobs now employed at least 1M people :)
Few minutes ago I used Bolt Boda boda (digital taxi) from Kilimani to Kirinyanga road where I needed to buy a fuel pump. I paid 110shs.
These are the kind of jobs nobody want to talk about - boda boda, m-pesa ladies, banking agents.
Wow how many jobs have been added in construction?
Construction is dead. Even cement companies can use excess capacity in their mills to bake mandazi. I told you that economics is not mazematic but where science meets political science. Uhuru is a panicked man because he is about to leave behind a very bad economic record. Why you see young mothers reversing into Indian ocean you know that the situation is desperate. You are lucky to work in a industry that is recession proof. The lords of poverty industry you are in i. A rent seeking one.
I told you real estate was burst. I saved many investor by advising them to clear their debts before they were caught in cash flow crunch. Right now economics ya mawe is not even returning 10 percent. If you're unlucky investor that hit the shylocks you are dead.
Kenya economy is 90 percent informal. As long as it is raining 70 percent of the population can survive ...only urbanites feel the fill heat of failure of formal economy.
The fact that tea prices dropped by 34 percent last year we will see a lot of economic pressure in county towns. How is milk doing?
Anyway suraya...just saw a report by Centrum or cytonn and looks economics ya mawe died like rutos mou with uhunye
How many jobs d8d the economy great this month?
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So where are your construction jobs and bora boda. Jobs? Kibaki created boda boda jobs and a maid earning 40 dollars is not a job but servitude.
https://mobile.twitter.com/citizentvkenya/status/1181659302018392065
Stop passing myths here as facts.
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Safaricpm is not a kenyan company ...majority of profits end in Europe and elsewhere
LAME. At least 35% of Safaricom is owned by GOK for starters.
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Safaricpm is not a kenyan company ...majority of profits end in Europe and elsewhere
LAME. At least 35% of Safaricom is owned by GOK for starters.
35 percent and 15 percent by small scale holders..anyway one company in the last 20 years. Just one sector where are others?
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Yes Kimunya/Kibaki started the boda boda - but it mainstream economic activity - informal employment in transport sector.
This is from KNBS 2018..
More Kenyans are buying motorcycles either as a cheaper mode of transport or as a source of income, as the report indicated there were 195,253 units registered last year.Over the past five years, motorcycle registration vehicle has been on a steady increase jumping 69.1 per cent from 115,451 units registered in 2014.
So if you assume about 3/4 of those are boda boda - you're talking it creating 150K jobs annually and the multiplier effect that such transportation is doing to other sectors.
So where are your construction jobs and bora boda. Jobs? Kibaki created boda boda jobs and a maid earning 40 dollars is not a job but servitude.
https://mobile.twitter.com/citizentvkenya/status/1181659302018392065
Stop passing myths here as facts.
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Avacados/dairy/horticulture/nuts - are firing on all cylinders now ? Fintech & generally all digital transformation? Public investment in roads, power, ports ,schools, hospitals and etc? heck even betting.
35 percent and 15 percent by small scale holders..anyway one company in the last 20 years. Just one sector where are others?
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Did they really start it or it just came on its own? I noticed most African countries have it also. So who was there Kibaki/Kimunya and do you want to suggest without the two Kenya would not have boda boda today?
Yes Kimunya/Kibaki started the boda boda - but it mainstream economic activity - informal employment in transport sector.
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Right - it came around the same time - only think kimunya did was to allow duty free importation. We really need to start manufacturing these boda bodas. There is already huge market for it here in kenya and in larger africa.
Did they really start it or it just came on its own? I noticed most African countries have it also. So who was there Kibaki/Kimunya and do you want to suggest without the two Kenya would not have boda boda today?
Yes Kimunya/Kibaki started the boda boda - but it mainstream economic activity - informal employment in transport sector.
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It shows the weakness of GDP as a measure of quality of life. It is simply a measure of turnover.
You can be less cryptic. The real estate here is not restricted like twitter to 140 characters. Express yourself clearly madam Robina
Which shows what about GDP?
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Safaricom is a dinosaur that will die a painful death unless they perform dramatic improvement. I hear they have shuttered the innovation lab after it produced nothing in 2 years.
See - Safarciom has been minting profits since day 1 - 20 years - but is worth 10B usd
Uber has been minting losses since day 1 - 10 years - but is worth 50B usd
Because Safaricom is the past and Uber is the future. Cabs, shuttles, deliveries and the shebang are being Uberized. Telco will be disrupted by satellite in a few years. You might have a Facebook simcard - flat rate globally with no extra for roaming. Already we are seeing Libra and such. Their Masoko was DOA and i rarely hear of it. Maybe old MJ can save them - but i would drop the stock like it's hot.
Safaricom well now worth 11-12B dollars - that is clearly Forbes 1000 global company - M-pesa is making nonsense of your dooms day scenario for kenyan economy.
Safaricom’s M-Pesa has been recognised as one of the top 10 most influential finance projects of the last 50 years by Project Management Institute (PMI) in its 2019 Most Influential Projects list.
https://www.the-star.co.ke/business/2019-10-08-m-pesa-among-top-10-most-influential-finance-projects-in-last-50-years/
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Back to my initial question how many jobs have been created in 3 rd quarter or even during jubilee 6 years in power? What is the single job creation that jubilee has come up with? Let us not talk about history. It here and now. Moi ugali mwa sufuria kind of assessment. We need it. Then tell us how ruto was instrumental on said job creation policy or investment
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New jobs are in tech. There will be some pain as people adapt. Lots of inequality. It is not a unique situation in Kenya.
Back to my initial question how many jobs have been created in 3 rd quarter or even during jubilee 6 years in power? What is the single job creation that jubilee has come up with? Let us not talk about history. It here and now. Moi ugali mwa sufuria kind of assessment. We need it. Then tell us how ruto was instrumental on said job creation policy or investment
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These Business Daily headlines in 2019 tell a story ??????????
1. Kenyans with Sh100,000 in bank fall to 13-year low
2. NSE hits 10-year low as blue chip stocks plunge
3. Kenya's trade surplus with Africa drops to record low
4. Cement use falls for first time in 17yrs
5. Tea price falls to five-year low on oil, devaluations
6. Insurance penetration drops to 15-year low
7. Nairobi house approvals slump to 5-year low
8. Homes tax drops 21pc on low property sales
9. Formal jobs fall to 6-year low despite GDP boom
10. Interbank rate down to an eight-year low
11. Private sector borrowing slows down to 10-year low
12. Power consumption dips to five-year low
13. Fuel consumption hits 3-year low on high taxes
14. Kenya’s maritime trade ranking at five-year low
15. Eurobond raises Kenya’s public debt to Sh5.8trn
16. 88pc of NSE share accounts dormant
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New jobs are in tech. There will be some pain as people adapt. Lots of inequality. It is not a unique situation in Kenya.
Back to my initial question how many jobs have been created in 3 rd quarter or even during jubilee 6 years in power? What is the single job creation that jubilee has come up with? Let us not talk about history. It here and now. Moi ugali mwa sufuria kind of assessment. We need it. Then tell us how ruto was instrumental on said job creation policy or investment
M
Kenyan Economy is 95 percent non tech ..i just want pundit to put out the numbers and not give surveys from 10 years ago....anyway uhuru is asking for debt ceiling to go up to 9 trillion. He is a man in a circus with no bread
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Knbs have annual data of jobs market
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Nobody talks about such positive news https://www.businessdailyafrica.com/markets/marketnews/Private-sector-activity-hits-13-month-high/3815534-5297568-84ws0f/index.html?fbclid=IwAR1jAGetUfLB-iJsxSaS3p-pgf37SEgw8mqOCgzMTqusfqU_lnVicN9UT3o
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Safaricom is a dinosaur that will die a painful death unless they perform dramatic improvement. I hear they have shuttered the innovation lab after it produced nothing in 2 years.
See - Safarciom has been minting profits since day 1 - 20 years - but is worth 10B usd
Uber has been minting losses since day 1 - 10 years - but is worth 50B usd
Because Safaricom is the past and Uber is the future. Cabs, shuttles, deliveries and the shebang are being Uberized. Telco will be disrupted by satellite in a few years. You might have a Facebook simcard - flat rate globally with no extra for roaming. Already we are seeing Libra and such. Their Masoko was DOA and i rarely hear of it. Maybe old MJ can save them - but i would drop the stock like it's hot.
Safaricom well now worth 11-12B dollars - that is clearly Forbes 1000 global company - M-pesa is making nonsense of your dooms day scenario for kenyan economy.
Safaricom’s M-Pesa has been recognised as one of the top 10 most influential finance projects of the last 50 years by Project Management Institute (PMI) in its 2019 Most Influential Projects list.
https://www.the-star.co.ke/business/2019-10-08-m-pesa-among-top-10-most-influential-finance-projects-in-last-50-years/
matope...telecom moving to 5g and you're thinking satellite
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Avacados/dairy/horticulture/nuts - are firing on all cylinders now ? Fintech & generally all digital transformation? Public investment in roads, power, ports ,schools, hospitals and etc? heck even betting.
35 percent and 15 percent by small scale holders..anyway one company in the last 20 years. Just one sector where are others?
Dairy is struggling; Nyandarua dairy farmers are pouring milk instead selling to monopolies like brookside for ksh.25. Funny thing is the retail price for milk doesn't fluctuate to correspond with low prices of raw milk. Avocados, the biggest processor and grower of avocados kakuzi is barely inking a profit. Yes the volumes have increased as more production come on board. Nuts; thanks to Ruto banning of export of raw nuts the cashew nuts industry has collapsed in coast region. Macadamia; cause of the same policy prices are subdued, yes production has increased as farmers look for alternative or complementary to coffee.
Fintech and digitization is working. Public investment could have been a major economic driver if only the projects were not egregiously overpriced.
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New jobs are in tech. There will be some pain as people adapt. Lots of inequality. It is not a unique situation in Kenya.
A country like Kenya needs to infuse technology to every facets of its economy. We don't necessarily have to be tech producers. We could use for example Israel agricultural technology prowess to increase productivity of the Kenya biggest sector. Manufacturing needs to invest heavily in new equipment and technology. The sad thing about kenya is cost of living is relatively high for poor country. E.g. Food in america is cheaper than kenya.
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I think a sector would only struggle if production was to go down - but if more and more people are embracing dairy - and we are producing, consuming and processing more milk - then the sector is growing. Every time I go to super-market I am seeing new milk brands every day - so surely Brookside monopoly song is bit tired. Heck even Uganda are here (although it suspected they are selling milk powder - when I lived in Uganda - few people bought those Lato milk - I think Jesa milk was nearest to good milk you could get there).I am seeing more and more passion fruits farming too...Anyway I think agriculture pretty doing good as long as we have rain...of course we could triple agriculture industry if we applied more fertilizers, better seeds and good husbandry/agronomic.
Manufacturing has basically recovered from 2016 slump. Now it's the turn for real estate and construction to face the music with tea farmers. Universities are going through a rough patch but TIVET are doing great. Tourism and hotel industry is not badly - although the potential is incredible.
The rest of sectors - financial & inter-mediation, transport, ICT , Retail & Wholesaling ( formalization of retail is continuing - the sick men of uchumi/nakumatt/choppies - are being replaced by local and foreign brands) - are doing - maybe Energy has issue - but well we got first shipment of Turkana oil :)
Public investment in this china era is firing in all cylinders...and add to counties..who are solving the spending capacity problem - we have always had at national level - you can see why the economy is growing - even when private sector is struggling.
Dairy is struggling; Nyandarua dairy farmers are pouring milk instead selling to monopolies like brookside for ksh.25. Funny thing is the retail price for milk doesn't fluctuate to correspond with low prices of raw milk. Avocados, the biggest processor and grower of avocados kakuzi is barely inking a profit. Yes the volumes have increased as more production come on board. Nuts; thanks to Ruto banning of export of raw nuts the cashew nuts industry has collapsed in coast region. Macadamia; cause of the same policy prices are subdued, yes production has increased as farmers look for alternative or complementary to coffee.
Fintech and digitization is working. Public investment could have been a major economic driver if only the projects were not egregiously overpriced.
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Unsurprisingly you are so behind news. What is 5G if not a move to satellite? A Google satellite fell off the sky in Meru recently. SpaceX has a satellite project - Starlink - for mast-free internet. Verizon, AT&T, Comcast and big telcos have invested big in satellite startups. By 6G there will be no cell towers - it is how disruption works. But oh i get it - Safcom is shackled by Vodafone from thinking. Akili yako na ya Safcom imewekwa pingu.
matope...telecom moving to 5g and you're thinking satellite
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5G haiko silicon valley..sats are.moody system based on weather and cliuds.. satellite hiyo ni old tech...nobody want it
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Satellites have leapfrogged in last decade. 20 years ago cellular was separate from satellite. So you had cell towers and cable all over the world for cellular. Satellites were used for weather and astronomy. Internet was first step of convergence. VoIP meant calls could use non-cellular network. Instead of bulky underwater cables in the oceans - most of 5G uses satellite transmission. Your next smartphone will be satellite enabled... so you can buy Facebook simcard.
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Satellite is low frequency high coverage but 5g is on high frequency radio wavelength that covers short distance and consume lots of power.You cannot change physics.
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Satellites operate on very high frequency - very high speeds. Ka-band is 50GHz+ - which is most sats. 4G cellular is around 16GHz. Only downside for sats is high latency - so realtime apps like autonomous cars can have problems. But streaming movies or most IoT usecases - smart TV or fridge or alarm - is quite good. Low earth orbit (LEO) sats have a better latency about 30 milliseconds. Musk claims his Starlink has 15ms latency. Latency is handshake or connection delay.
Now, cellular towers will be obsolete because already the 3G or some 4G towers are incompatible or not upgradable to 5G. 5G tiny cells at high frequency works more efficiently with satellite than tower. Every sector of the city will have a dedicated LEO satellite - basically a low-hanging constellation - with receiver dishes on the ground. Why have so many towers while sat has direct line on most locations? Especially remote 5G - outside the cities - sat will be more economical than tiny cellular cells.
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Nonsense. The future is 5G.
Satellites operate on very high frequency - very high speeds. Ka-band is 50GHz+ - which is most sats. 4G cellular is around 16GHz. Only downside for sats is high latency - so realtime apps like autonomous cars can have problems. But streaming movies or most IoT usecases - smart TV or fridge or alarm - is quite good. Low earth orbit (LEO) sats have a better latency about 30 milliseconds. Musk claims his Starlink has 15ms latency. Latency is handshake or connection delay.
Now, cellular towers will be obsolete because already the 3G or some 4G towers are incompatible or not upgradable to 5G. 5G tiny cells at high frequency works more efficiently with satellite than tower. Every sector of the city will have a dedicated LEO satellite - basically a low-hanging constellation - with receiver dishes on the ground. Why have so many towers while sat has direct line on most locations? Especially remote 5G - outside the cities - sat will be more economical than tiny cellular cells.
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You have it backwards. Let me help you.
5G is about speeds or quality of communication. It is not a competitor to satellite but rather a standard. Your phone is cellular and 4G or 5G... it could alternately be satellite and 5G.
Satellite is a means to communicate - same as telco masts and physical cable. Traditional cellular has run on telco masts and cable because satellite is high frequency 50GHz upwards - while 3G or 4G cellular is lower frequency 12 to 20GHz.
5G needs high frequency to achieve high speeds. This makes it compatible with satellite due to the similar frequency. But old 3G or 4G cellular towers may not be upgradable to 5G - nor can they suffice to boost the signals - because high frequency signals need "direct line of sight" to be effective. Towers would need to be super-tall to ensure direct line of sight in cities or mountainous areas. That is why telco operators are installing 5X as many cell towers per every small area to operate on the high frequency needed by 5G. 5G installations in San Francisco is possibly 000's of small cells. They are causing political problems in some places - folks are scared of cancer from masts hanging over their houses like power transformers.
Why do I think satellite is the future? Why are Google, Facebook, SpaceX launching 000's of satellites all over? Why are major telcos investing big in satellite? Because - duh - satellite is more economical in beaming 5G with direct line of sight. This is especially true outside cities. In cities, a few satellites can actually beam 5G more effectively with support of dishes in buildings. Much more efficiently than multiple mini-cell towers. Many houses and buildings already have tv or data receivers and would not even notice any change.
The future is 5G :D yes. But it is not ocean cable or cell towers. It 5G, 6G, etc on satellite. All the renewed satellite R&D and mega-investments in the last decade is definitely bearing fruit. Safaricom is a dinosaur because it has missed out on major tech shifts since mobile pay. They floundered on cloud, streaming TV, e-commerce and name it. Now they are missing out on satellite. I stand advised on the Vodafone shackles firmly on their heads - as visible as akorino turbans.
Nonsense. The future is 5G.
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Folks don't want 5G "transformers" in their neighborhoods.
(https://cdn.citylab.com/media/img/citylab/2019/05/RTX6SWAG/940.jpg?mod=1557527560)
Mike Blake/Reuters
Communities Are Fighting 5G, Permit by Permit
SARAH HOLDER MAY 15, 2019
NIMBY backlash is complicating the next generation of wireless internet technology, with recent help from the California Supreme Court.
As soon as the first 5G poles went up, the residents of Upper Cole Valley wanted them down.
Later, residents would take issue with the notice that informed the community of plans to install 5G wireless internet equipment—they say it was “poorly affixed to the single pole,” allowing it to either fall off or be blown off; and that San Francisco’s Public Works Department didn’t give them enough time to weigh in on the process.
But adequate warning or not, when Sprint mobile vendor Mobilitie came to the San Francisco neighborhood hawking super-fast internet service, residents had more fundamental concerns.
“Our Upper Cole Valley … neighborhood would suffer harm if the large pole-borne equipment box is installed, on an even taller pole, directly in front of our Excellent Views,” read a complaint from a group of more than 100 residents, which they submitted to the DPW in the hopes of getting Mobilitie’s permit denied. “This indeed ‘detract(s) from the streetscape… that defines (this) individual neighborhood’ and that would adversely affect our home’s and our neighborhood’s … value.”
The city ended up rejecting this appeal and others like it. For now, at least, the 5G network is there to stay in Cole Valley. But the neighborhood’s concerns are echoed in cities across the country.
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The residents also cited research—which has been disputed by the World Health Organization and multiple scientific studies—that small cells can cause long-term health problems, and even cancer.
...
https://www.citylab.com/life/2019/05/fast-internet-wireless-service-provider-wifi-5g-boxes-fcc/587269/
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Pundit: here are Safcom's new "innovations" :o - after shuttering the R&D lab
Data now won't expire: Safaricom
https://www.nation.co.ke/business/Safaricom-marks-19-years-products-without-expiry-dates/996-5321546-7qbk4m/index.html
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Pundit: here are Safcom's new "innovations" :o - after shuttering the R&D lab
Data now won't expire: Safaricom
https://www.nation.co.ke/business/Safaricom-marks-19-years-products-without-expiry-dates/996-5321546-7qbk4m/index.html
Once at a job interview I proposed to the fools a blockchain app - LPX - for Bonga Points, airline fly miles, Starbuck Rewards - and entire shebang of loyalties in the globe. They thought am a Martian.
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You should have got the job first - before unleashing all that.Safaricom at it's core - is still Telkom/Posta -the 400 or 1000 staff that initially started it came from Telkom and are seniors - culturewise - a parastal - with most of technical stuff done by Chinese and Indian contractors.
Once at a job interview I proposed to the fools a blockchain app - LPX - for Bonga Points, airline fly miles, Starbuck Rewards - and entire shebang of loyalties in the globe. They thought am a Martian.
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Yep. You're so right. They thought "bespoke" is wrong idea. All thinking must be outsourced to Huawei.
You should have got the job first - before unleashing all that.Safaricom at it's core - is still Telkom/Posta -the 400 or 1000 staff that initially started it came from Telkom and are seniors - culturewise - a parastal - with most of technical stuff done by Chinese and Indian contractors.
Once at a job interview I proposed to the fools a blockchain app - LPX - for Bonga Points, airline fly miles, Starbuck Rewards - and entire shebang of loyalties in the globe. They thought am a Martian.
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I was gona take the job but my PI let me in on the dirty secret - of the feuds n entrenched CYA politics - that Kamal Bhattacharya and Ron Webb faced. I can't wire the machines and hack people heads too. The board needs to fix the top layer so innovators can breathe in some hope into the skeleton.
You should have got the job first - before unleashing all that.Safaricom at it's core - is still Telkom/Posta -the 400 or 1000 staff that initially started it came from Telkom and are seniors - culturewise - a parastal - with most of technical stuff done by Chinese and Indian contractors.
Once at a job interview I proposed to the fools a blockchain app - LPX - for Bonga Points, airline fly miles, Starbuck Rewards - and entire shebang of loyalties in the globe. They thought am a Martian.
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Pundit: here are Safcom's new "innovations" :o - after shuttering the R&D lab
Data now won't expire: Safaricom
https://www.nation.co.ke/business/Safaricom-marks-19-years-products-without-expiry-dates/996-5321546-7qbk4m/index.html
Once at a job interview I proposed to the fools a blockchain app - LPX - for Bonga Points, airline fly miles, Starbuck Rewards - and entire shebang of loyalties in the globe. They thought am a Martian.
MArtian LOL!
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Parker how is our dear pitiful KQ doing?
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If they keep MJ longer - until they get someone that strong - then it will work. Bob collymore fired the previous administration - that was very corrupt. I am praying gov sells it shareholding and use the money to build roads - it's the biggest risk to Safaricom future.
Gov are sitting at 4B dollars - when it badly need the money to fix infrastructure deficit.
I was gona take the job but my PI let me in on the dirty secret - of the feuds n entrenched CYA politics - that Kamal Bhattacharya and Ron Webb faced. I can't wire the machines and hack people heads too. The board needs to fix the top layer so innovators can breathe in some hope into the skeleton.
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You are right MJ need to be chairman - and scout for global talent - too old to actively steer the ship. It good he has not let that Sylvia Mulinge - chief something officer and such low grade managers - anywhere near the corner office. Yes GoK and Mucheru need to ship out and let MJ's do their thing.
If they keep MJ longer - until they get someone that strong - then it will work. Bob collymore fired the previous administration - that was very corrupt. I am praying gov sells it shareholding and use the money to build roads - it's the biggest risk to Safaricom future.
Gov are sitting at 4B dollars - when it badly need the money to fix infrastructure deficit.
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Vodacom (40%) and foreign investors basically own 60% of Safaricom - so Gok & Mucheru can puff and huff - but the will be out-voted in the board. GoK should simply ship out - they add no value on Safaricom - they should concentrate on making CA - a real sector regulator. Now they cannot regulate the sector because they sit in Safaricom board.
You are right MJ need to be chairman - and scout for global talent - too old to actively steer the ship. It good he has not let that Sylvia Mulinge - chief something officer and such low grade managers - anywhere near the corner office. Yes GoK and Mucheru need to ship out and let MJ's do their thing.
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There are AoA clauses giving GoK reserve powers. It was a bad sign Vodafone divesting - "switching" stock with Vodacom. I doubt international investors still hold majority of the stock. Safcom has shrunk 12B to 10B usd in last few years. I suspect international investors have quietly offloaded - thus the bear run - while locals have kept it afloat. Locals eyeing the profits but can't see beyond their nose.
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I hope they don't let gok near it...otherwise it will die a slow painful death. Vodafone divesting allows Safaricom chance to divest abroad. If they get into Ethiopia - that will be huge - they need to do everything possible to be allowed to rollout M-pesa in Ethiopia.
There are AoA clauses giving GoK reserve powers. It was a bad sign Vodafone divesting - "switching" stock with Vodacom. I doubt international investors still hold majority of the stock. Safcom has shrunk 12B to 10B usd in last few years. I suspect international investors have quietly offloaded - thus the bear run - while locals have kept it afloat. Locals eyeing the profits but can't see beyond their nose.
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There is no innovation going on at Safcom. It is a shame for the tonnes of money that it makes. It should have sprouted a couple of start-ups which would compete on the world stage and look to IPO in Nasdaq or NYSE. You can literally run it with your eyes closed, auto-pilot. It has no competition to talk of. Safcom badly needs a real innovator manager. Their next tier managers after Michael Joseph are just clueless and not business managers at all, leave alone being tech savvy.
Mpesa has been their boon, it has helped Safcom retain/hold-on to its subscriber base because of the "network effect". Safcom has benefitted from soft regulation also known as state capture and i agree with Pundit better state unbundled its stake and makes the billion dollars while it is still riding high. In a different market Mpesa would already have been flagged and unbundled as a financial service/bank and not a telco VAS service. This is literally a national payment system and Ethiopia wont make the same mistake as Kenya by allowing a non-regulated service like Mpesa; at very worst Mpesa may be under regulator or CBE (Commercial Bank of Ethiopia), their "KCB", which is literally like their Central Bank.
Safcom is a seating duck, some disruptive tech or business will literally send it into a serious contraction. Voice has been a major revenue earner, but voice is being commoditized and a "dying" dependable line of business. Safcom has milked this.... even as the most expensive calling charges in the market. I agree with Robina, 5G satellite could be it. I heard Tesla has launched or is launching Starlink or something like that. Literally raining down satellites for a global IP network blanketing the world. This will be a game changer! Today we had an outage on SEACOM and almost all the service providers were out. It tells you that we have no real redundancy and the so called redundant links with the likes of TEAMs and the other undersea providers are literally also using SEACOM as their service provider! Satellite would have been a reliable redundant link.
I see some disruptive OTP service killing the voice service as we know it. This is why most operators are throttling OTP, but this can't last for long. In Dubai, they throttle Whatsapp calling. There are already ways to get around this. In-country regulatory regime are a dying holdover. Soon you could literally have a global mobile phone and you don't have to be regulated by your corrupted/state-captured domicile regulator.
Robina, time to talk about that idea you had on taking on Mpesa in Kenya.... going for Pesalink land-grab and building an open-API ecommerce/mobile money ecosystem around it. Bingo! a real Game changer that would turn Mpesa on its head. Also a currency backed (shilling) crypto-currency. To be honest, long before Facebook decided that their (Ca)Libra will be a currency backed crypto, Mpesa is actually a shilling backed crypto-currency. You literally hold an e-currency in your e-wallet with the confidence that when you go to the Mpesa agent, he/she will give you a shilling for every 1 unit of what you hold in your e-wallet.
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Most of what you write is unwarranted attack. Safaricom has helped built ecosystem around m-pesa that has affected nearly all industries. From fintech to agritech - to solar or energy tech - name it - m-pesa is now the back-bone of kenyan economy. Kenya is still the global leader. That is not easy when you're a third world country - and you're shackled by Vodafone.
When you're managing such a responsibility - then you cannot afford trial & error - Safaricom main business is to KEEP MPESA ALIVE 99.99% of the time. The rest can come later. Kenya M-PESA last I checked was nearly getting to where likes of VISA & Master card are - in terms of volume of transactions. That is helluva BUSY BUSY payment system processing billions of transactions annually. In my current hassle - I manage our m-pesa systems - we are not big company - but we receive m-pesa payment nearly every second - that is like 80,000 Mpesa transaction daily - 2.5M every month - 30M annually - literally one m-pesa payment every second - huge responsibility to ensure the least possible downtime.
Nigeria tried your ideas of letting banks to run their M-PESA. EPIC FAIL. GHANA went kenyan model - and Ghana is pretty much second to Kenya now - I think Tanzania is not far behind.
Safaricom is now a 12B dollars goliath. That is not an easy fete,
I think they should focus more on growing M-pesa (M-pesa is just about started), then focus on data - FTTH ( Fiber to the Home) and 5G network - they can eventually give you free calls - like now SMS are essentially free - I get like 1000 SMS everytime I buy data bundle.
They can future-proof their business by rolling out fiber to homes & 5-6G when you're out of home (nothing will beat that in near future) and being your banker (M-pesa). Those two will mean safaricom will be untouchable in kenya forever.
There is no innovation going on at Safcom. It is a shame for the tonnes of money that it makes. It should have sprouted a couple of start-ups which would compete on the world stage and look to IPO in Nasdaq or NYSE. You can literally run it with your eyes closed, auto-pilot. It has no competition to talk of. Safcom badly needs a real innovator manager. Their next tier managers after Michael Joseph are just clueless and not business managers at all, leave alone being tech savvy.
Mpesa has been their boon, it has helped Safcom retain/hold-on to its subscriber base because of the "network effect". Safcom has benefitted from soft regulation also known as state capture and i agree with Pundit better state unbundled its stake and makes the billion dollars while it is still riding high. In a different market Mpesa would already have been flagged and unbundled as a financial service/bank and not a telco VAS service. This is literally a national payment system and Ethiopia wont make the same mistake as Kenya by allowing a non-regulated service like Mpesa; at very worst Mpesa may be under regulator or CBE (Commercial Bank of Ethiopia), their "KCB", which is literally like their Central Bank.
Safcom is a seating duck, some disruptive tech or business will literally send it into a serious contraction. Voice has been a major revenue earner, but voice is being commoditized and a "dying" dependable line of business. Safcom has milked this.... even as the most expensive calling charges in the market. I agree with Robina, 5G satellite could be it. I heard Tesla has launched or is launching Starlink or something like that. Literally raining down satellites for a global IP network blanketing the world. This will be a game changer! Today we had an outage on SEACOM and almost all the service providers were out. It tells you that we have no real redundancy and the so called redundant links with the likes of TEAMs and the other undersea providers are literally also using SEACOM as their service provider! Satellite would have been a reliable redundant link.
I see some disruptive OTP service killing the voice service as we know it. This is why most operators are throttling OTP, but this can't last for long. In Dubai, they throttle Whatsapp calling. There are already ways to get around this. In-country regulatory regime are a dying holdover. Soon you could literally have a global mobile phone and you don't have to be regulated by your corrupted/state-captured domicile regulator.
Robina, time to talk about that idea you had on taking on Mpesa in Kenya.... going for Pesalink land-grab and building an open-API ecommerce/mobile money ecosystem around it. Bingo! a real Game changer that would turn Mpesa on its head. Also a currency backed (shilling) crypto-currency. To be honest, long before Facebook decided that their (Ca)Libra will be a currency backed crypto, Mpesa is actually a shilling backed crypto-currency. You literally hold an e-currency in your e-wallet with the confidence that when you go to the Mpesa agent, he/she will give you a shilling for every 1 unit of what you hold in your e-wallet.
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They don't need M-Pesa expansion 10 years this late. It legacy stuff now with razor margins. Fintech has evolved. They need to go Libra and such - new M-Pesas and new streams - which is what we imagined R&D hub was about. Satellites and blockchains is the path. Sticking to nimble spin-off model - like say M-Kopa or Little Cab startups. Clearly from Masoko and Alpha lab experiment the elephant can't dance.
I hope they don't let gok near it...otherwise it will die a slow painful death. Vodafone divesting allows Safaricom chance to divest abroad. If they get into Ethiopia - that will be huge - they need to do everything possible to be allowed to rollout M-pesa in Ethiopia.
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Nothing will replace M-pesa soon - in Africa. I think you need basic 101 on Appropriate Technology. Not everywhere is San Francisco. Technology is not hard - adoption is the hardest part. Telsa (original dude) was spinning out ideas last century - crazy ideas - that 100yrs plus - have yet to be adopted. Safaricom is not some startup - its a real business with real responsibilities.
They don't need M-Pesa expansion 10 years this late. It legacy stuff now with razor margins. Fintech has evolved. They need to go Libra and such - new M-Pesas and new streams - which is what we imagined R&D hub was about. Satellites and blockchains is the path. Sticking to nimble spin-off model - like say M-Kopa or Little Cab startups. Clearly from Masoko and Alpha lab experiment the elephant can't dance.
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Facebook, Libra and satellites are here now. Not futuristic stuff. Nikola Tesla invented alternating current - that powered the industrial revolution. Crazy ideas smh. You need basic analogy 101.
Nothing will replace M-pesa soon - in Africa. I think you need basic 101 on Appropriate Technology. Not everywhere is San Francisco. Technology is not hard - adoption is the hardest part. Telsa (original dude) was spinning out ideas last century - crazy ideas - that 100yrs plus - have yet to be adopted. Safaricom is not some startup - its a real business with real responsibilities.
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Actually come to think of it. Nikola Tesla's alternating current is still in use with no end in sight. While his archival Thomas Edison's biggest legacy - GE - is going bankrupt. Ideas outlast pragmatism.
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You need to understand disruption. Safcom did not invent banking - but merely disrupted traditional banking in Kenya. M-pesa is a TECHNOLOGY - it can equally die. It is a sitting dark - like a beautiful girl with a tumor - her smiles - aka the billions or millions of customers are nothing in longterm health or security. They could not hack TZ, DRC or Afghanistan - which shows you their limit. A mere Equity thin sim - such a small innovation - hived off 25% of mobile pay - and killed Airtel, Telkom and the drunken sailors. Bob Collymore sent emissaries to MP committees and high court - trying to stop Equitel - and lost. Pragmatic is right about global telco - Facebook simcard would obliterate M-pesa. Which is why MJ should be experimenting and spinning startups like his life depends on it. Noone is asking him to shut down M-pesa server - that another whack analogy - unlike your briefcase SOHO big company can chew gum and scale the stairs. Mpesa fees, data and roaming still cost an arm and a leg - zero-rate that and Safcom has no more muscle to hold up the closing R&D window.
Most of what you write is unwarranted attack. Safaricom has helped built ecosystem around m-pesa that has affected nearly all industries. From fintech to agritech - to solar or energy tech - name it - m-pesa is now the back-bone of kenyan economy. Kenya is still the global leader. That is not easy when you're a third world country - and you're shackled by Vodafone.
When you're managing such a responsibility - then you cannot afford trial & error - Safaricom main business is to KEEP MPESA ALIVE 99.99% of the time. The rest can come later. Kenya M-PESA last I checked was nearly getting to where likes of VISA & Master card are - in terms of volume of transactions. That is helluva BUSY BUSY payment system processing billions of transactions annually. In my current hassle - I manage our m-pesa systems - we are not big company - but we receive m-pesa payment nearly every second - that is like 80,000 Mpesa transaction daily - 2.5M every month - 30M annually - literally one m-pesa payment every second - huge responsibility to ensure the least possible downtime.
Nigeria tried your ideas of letting banks to run their M-PESA. EPIC FAIL. GHANA went kenyan model - and Ghana is pretty much second to Kenya now - I think Tanzania is not far behind.
Safaricom is now a 12B dollars goliath. That is not an easy fete,
I think they should focus more on growing M-pesa (M-pesa is just about started), then focus on data - FTTH ( Fiber to the Home) and 5G network - they can eventually give you free calls - like now SMS are essentially free - I get like 1000 SMS everytime I buy data bundle.
They can future-proof their business by rolling out fiber to homes & 5-6G when you're out of home (nothing will beat that in near future) and being your banker (M-pesa). Those two will mean safaricom will be untouchable in kenya forever.
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How is Mpesa still an innovation now??? 10 years later there is a flavour of Mpesa all over the world....now that we have proved and tested it, we need to move over to the next innovation. And that is the point I am making, beyond the original idea of transfering money and trading; what else have we done with Mpesa?
Have you heard of PayTM in India? They do more than 600m merchants payments per month. "Mpeisa" was a huge failure in India until they did something along their market circumstances. That is what they needed to do in all those places where you say it failed, tweak to local circumstances or trash it altogether if the market need isn't there. You develop solutions where there is a need not simply imposing a product/service where there is no market need for it.
PayTM is backed by Alibaba’s Jack Ma, SoftBank’s Masayoshi Son, and Berkshire Hathaway’s Warren Buffett..... soon i am sure they will be making a beeline to a market introduction on Bombay Stock Exchange and an IPO on either Nasdaq or NYSE. The thing they have going for them is the second largest consumer market in the World, India and as you have seen with Safcom/Mpesa, a huge captive market/subscriber base is key to growing your network effect. And I won't be surprised if PayTM or a variant of it (Pesalink??) comes knocking in a market near you.
Safcom should be innovating beyond the fabled Mpesa sandbox.
Most of what you write is unwarranted attack. Safaricom has helped built ecosystem around m-pesa that has affected nearly all industries. From fintech to agritech - to solar or energy tech - name it - m-pesa is now the back-bone of kenyan economy. Kenya is still the global leader. That is not easy when you're a third world country - and you're shackled by Vodafone.
When you're managing such a responsibility - then you cannot afford trial & error - Safaricom main business is to KEEP MPESA ALIVE 99.99% of the time. The rest can come later. Kenya M-PESA last I checked was nearly getting to where likes of VISA & Master card are - in terms of volume of transactions. That is helluva BUSY BUSY payment system processing billions of transactions annually. In my current hassle - I manage our m-pesa systems - we are not big company - but we receive m-pesa payment nearly every second - that is like 80,000 Mpesa transaction daily - 2.5M every month - 30M annually - literally one m-pesa payment every second - huge responsibility to ensure the least possible downtime.
Nigeria tried your ideas of letting banks to run their M-PESA. EPIC FAIL. GHANA went kenyan model - and Ghana is pretty much second to Kenya now - I think Tanzania is not far behind.
Safaricom is now a 12B dollars goliath. That is not an easy fete,
I think they should focus more on growing M-pesa (M-pesa is just about started), then focus on data - FTTH ( Fiber to the Home) and 5G network - they can eventually give you free calls - like now SMS are essentially free - I get like 1000 SMS everytime I buy data bundle.
They can future-proof their business by rolling out fiber to homes & 5-6G when you're out of home (nothing will beat that in near future) and being your banker (M-pesa). Those two will mean safaricom will be untouchable in kenya forever.
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Exactly Pragmatic. In Nairobi alone i see Cellulant, Bitpesa, Pesapal, etc. Fintech is a commodity now. Zuckerberg should not innovate but focus on keeping Facebook up :D per RV Pundit.
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RV Pundit if your day job is keeping 30m trx p.a. system running... you're a bigger joke than i figured.
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Exactly Pragmatic. In Nairobi alone i see Cellulant, Bitpesa, Pesapal, etc. Fintech is a commodity now. Zuckerberg should not innovate but focus on keeping Facebook up :D per RV Pundit.
You cannot innovate so much outside your core business unless you're some venture capitalist just throwing money around.Facebook will remain Facebook ..the core will remain.The day to day operation will weigh you down.Maybe only Jeff Pezo Amazon succeeded in innovating outside e commerce with AWS.. although it was out of the need to deal with Christmas load crushing their servers.Safaricom if they money can buy start ups...rather than wasting their time in an area they have little competency.They should just who is using their mpesa to make dough and partner with them or buy them out.The excess funds can be invested in fiber to the home
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RV Pundit if your day job is keeping 30m trx p.a. system running... you're a bigger joke than i figured.
I manage mobile payments in 10 countries dealing with several providers..then I manage solar pay as you go systems..making sure your mother can turn her solar light..then I manage back end services..for our mobile apps stack...lots of docker & K8s..we have like 32 servers although I manage only docker containers...we have devopps & infrastructure team but we are still a startup kind of with few hands on the deck...and I build all of these apis & syncing services..that is huge responsibility.We commit to be SLA of 99.5% so monitoring all that and having alerts firing before things go wrong is key.We were two guys in the back end ...the other guy PhD Msungu from ivy league.. recently quit so I am one man team doing all that.I don't build games with unity like you.I do real work that affect lives of 1 million of our clients...with dependants.. meaning the impact of my work is possibly 5-10m real people.Safaricom for context deal with 30-40m real people...not kids playing Minecraft like my daughter..or playing some data science analysis crap..and spinning crazy ideas backed by machine learning and AI..mumbo jumbo for tech witchcraft
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Pundit, you seem like a decent chap who can string together some decent output if you direct your energy with ambition :D , why aren't you running your own shop and employing the many youth looking for jobs! Instead you take a day job and fulminate to us about Hardworker Ruto. Is Nipate taking up too much of your valuable time to run your own biashara and asking us to join you and taking it to the next level?
Now you are talking; and exactly what Safcom should be doing. Someone said they have outsourced all their thinking and innovation including devops to Chinese and Indians such that these fellows are using Kenya as a test lab. Safcom doesn't own any of the IP and will be left holding nothing when the tide changes. In fact, Huawei now owns the M-Pesa IP after the so-called transfer of MPesa servers from Germany to Kenya. Soon Huawei will be replicating MPesa like services in markets where they have dominance.
Safcom should have grown their Cloud business beyond just being a hardware plant to be a large Cloud Services provider with AWS, GCP and MS Azzure come seeking collaboration with them as an african peering point. That is the problem of stealing someone pitch deck and not knowing the ultimate end-game and ending up not converting the real dream! Positioning for Cloud, SAAS, and cloud native apps is the way to go. Micro-services utilizing Docker and K8s containers and building open API's around this creates a viral ecosystem that can grow to another huge captive customer base that assures new business for the telco service provider.
I manage mobile payments in 10 countries dealing with several providers..then I manage solar pay as you go systems..making sure your mother can turn her solar light..then I manage back end services..for our mobile apps stack...lots of docker & K8s..we have like 32 servers although I manage only docker containers...we have devopps & infrastructure team but we are still a startup kind of with few hands on the deck...and I build all of these apis & syncing services..that is huge responsibility.We commit to be SLA of 99.5% so monitoring all that and having alerts firing before things go wrong is key.We were two guys in the back end ...the other guy PhD Msungu from ivy league.. recently quit so I am one man team doing all that.I don't build games with unity like you.I do real work that affect lives of 1 million of our clients...with dependants.. meaning the impact of my work is possibly 5-10m real people.Safaricom for context deal with 30-40m real people...not kids playing Minecraft like my daughter..or playing some data science analysis crap..and spinning crazy ideas backed by machine learning and AI..mumbo jumbo for tech witchcraft
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Pundit, you seem like a decent chap who can string together some decent output if you direct your energy with ambition :D , why aren't you running your own shop and employing the many youth looking for jobs! Instead you take a day job and fulminate to us about Hardworker Ruto. Is Nipate taking up too much of your valuable time to run your own biashara and asking us to join you and taking it to the next level?
Now you are talking; and exactly what Safcom should be doing. Someone said they have outsourced all their thinking and innovation including devops to Chinese and Indians such that these fellows are using Kenya as a test lab. Safcom doesn't own any of the IP and will be left holding nothing when the tide changes. In fact, Huawei now owns the M-Pesa IP after the so-called transfer of MPesa servers from Germany to Kenya. Soon Huawei will be replicating MPesa like services in markets where they have dominance.
Safcom should have grown their Cloud business beyond just being a hardware plant to be a large Cloud Services provider with AWS, GCP and MS Azzure come seeking collaboration with them as an african peering point. That is the problem of stealing someone pitch deck and not knowing the ultimate end-game and ending up not converting the real dream! Positioning for Cloud, SAAS, and cloud native apps is the way to go. Micro-services utilizing Docker and K8s containers and building open API's around this creates a viral ecosystem that can grow to another huge captive customer base that assures new business for the telco service provider.
I manage mobile payments in 10 countries dealing with several providers..then I manage solar pay as you go systems..making sure your mother can turn her solar light..then I manage back end services..for our mobile apps stack...lots of docker & K8s..we have like 32 servers although I manage only docker containers...we have devopps & infrastructure team but we are still a startup kind of with few hands on the deck...and I build all of these apis & syncing services..that is huge responsibility.We commit to be SLA of 99.5% so monitoring all that and having alerts firing before things go wrong is key.We were two guys in the back end ...the other guy PhD Msungu from ivy league.. recently quit so I am one man team doing all that.I don't build games with unity like you.I do real work that affect lives of 1 million of our clients...with dependants.. meaning the impact of my work is possibly 5-10m real people.Safaricom for context deal with 30-40m real people...not kids playing Minecraft like my daughter..or playing some data science analysis crap..and spinning crazy ideas backed by machine learning and AI..mumbo jumbo for tech witchcraft
Been there done that.Yes my big dream was to start my own businesses but I know the amount of sacrifices required is enermous ...I dont want to pull my kids from international School where company pays everything to kapsengere primary plus all perks that come with that..I know the drill of a startup... sleeping in the office so often is a must ..so I think for now that will have to wait.I think Safaricom should not get into start up mentality but Microsoft kind of buy ideas and branded them Safaricom.For one successfully start ups you have a big graveyard.Safarcom cash reserve alone is more than 20b...money just idling in the bank.For example Safaricom saw sportpesa crashing their servers and should have bought them out..or got into a deal.
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You cannot innovate so much outside your core business unless you're some venture capitalist just throwing money around.Facebook will remain Facebook ..the core will remain.The day to day operation will weigh you down.Maybe only Jeff Pezo Amazon succeeded in innovating outside e commerce with AWS.. although it was out of the need to deal with Christmas load crushing their servers.Safaricom if they money can buy start ups...rather than wasting their time in an area they have little competency.They should just who is using their mpesa to make dough and partner with them or buy them out.The excess funds can be invested in fiber to the home
That's better. Core Safcom can do M-pesa expansion, fibre and all - but new startups must pop up fast and furious. The Google-Alphabet model. Time is really not on their side.
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Pundit, see below how Safcom and its Mpesa is a seating duck ????... this guy simply customised to local flavour, basically after Vodafone India withdrew “Mpeisa” from India and now he is bullish to look at America where I sense he will have a bit of a challenge there. When you read about his PayTM, there is nothing it does that is different from Mpesa. What he managed to ramp up quickly was the critical mass. He was independent, small and nimble and operator neutral/agnostic and so avoided the internal politics that frustrated the earlier mobile payments apps in India.
https://www.cnn.com/2019/10/23/business/paytm-vijay-shekhar-sharma-risk-takers/index.html
You cannot innovate so much outside your core business unless you're some venture capitalist just throwing money around.Facebook will remain Facebook ..the core will remain.The day to day operation will weigh you down.Maybe only Jeff Pezo Amazon succeeded in innovating outside e commerce with AWS.. although it was out of the need to deal with Christmas load crushing their servers.Safaricom if they money can buy start ups...rather than wasting their time in an area they have little competency.They should just who is using their mpesa to make dough and partner with them or buy them out.The excess funds can be invested in fiber to the home
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I manage mobile payments in 10 countries dealing with several providers..then I manage solar pay as you go systems..making sure your mother can turn her solar light..then I manage back end services..for our mobile apps stack...lots of docker & K8s..we have like 32 servers although I manage only docker containers...we have devopps & infrastructure team but we are still a startup kind of with few hands on the deck...and I build all of these apis & syncing services..that is huge responsibility.We commit to be SLA of 99.5% so monitoring all that and having alerts firing before things go wrong is key.We were two guys in the back end ...the other guy PhD Msungu from ivy league.. recently quit so I am one man team doing all that.I don't build games with unity like you.I do real work that affect lives of 1 million of our clients...with dependants.. meaning the impact of my work is possibly 5-10m real people.Safaricom for context deal with 30-40m real people...not kids playing Minecraft like my daughter..or playing some data science analysis crap..and spinning crazy ideas backed by machine learning and AI..mumbo jumbo for tech witchcraft
So you are devops engineer - glorified IT systems admin. There are countless of you - probably a dozen Pundits run M-pesa at Safcom alone. I am the sniper - you are a marksman - you shoot melons.
The point - you are a startup meaning you are nimble - fast paced, innovative, cutting edge, etc - not business-as-usual bureaucracy. Safaricom needs to pull an Alphabet - have umbrella company that manage spin-offs - startups like LittleCab, M-kopa, etc - while Safaricom as Google expand M-pesa and roll out FITH and such adjacent or slow innovations.
Innovaton and startups is not optional - it is a must for survival. The dinosaur must reproduce - mutate - or join the graveyard.
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Parker how is our dear pitiful KQ doing?
The other day I took the 14hr flight from NY. Services are good but theres always room for improvement. As I said most African leaders only look at their stomach. The airline had potential, which was retarded by previous leaders. Will the new leaders give this airline a new life??
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The other day I took the 14hr flight from NY. Services are good but theres always room for improvement. As I said most African leaders only look at their stomach. The airline had potential, which was retarded by previous leaders. Will the new leaders give this airline a new life??
No they will not breathe new life or salvage the situation. KQ problems are not caused by theft or fraud - but rather mismanagement or incompetence.
1. inefficiencies - cash hemorrhage, sub-optimal network, dubious codeshares, poor fuel hedging, misdeployed talent
2. competition - zero differentiation with rock-bottom prices
3. leadership - the Polish receiver manager's few past turnarounds and successes were a fluke. He doesn't why they worked ergo he can't replicate the success. I suspect MJ does know his telco profile is unsuited for the airline job
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The other day I took the 14hr flight from NY. Services are good but theres always room for improvement. As I said most African leaders only look at their stomach. The airline had potential, which was retarded by previous leaders. Will the new leaders give this airline a new life??
No they will not breathe new life or salvage the situation. KQ problems are not caused by theft or fraud - but rather mismanagement or incompetence.
1. inefficiencies - cash hemorrhage, sub-optimal network, dubious codeshares, poor fuel hedging, misdeployed talent
2. competition - zero differentiation with rock-bottom prices
3. leadership - the Polish receiver manager's few past turnarounds and successes were a fluke. He doesn't why they worked ergo he can't replicate the success. I suspect MJ does know his telco profile is unsuited for the airline job
EXACTLY!! My Friend. These things will take time to be worked on provided they have in good strategists. Yes MJ comes from a different background but all business strategies are developed from the same model. I believe is innovation is key in any successful undertaking. My favorite strategist is Warren Buffet.