Kenya Economy adds 848,100 new jobs as growth rises

[RV Heavy Hitter!]

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GDP growth as well. 8 years to go and a lot will change in Kenya for the better!
https://www.businessdailyafrica.com/bd/economy/economy-adds-848-100-new-jobs-as-growth-rises--4629606

[RV Pundit]

Good job on economy - at most diffuclt time - to grow 5.6%.
I also see formal jobs rose from usual 80K to 120K.
This mostly from teachers hiring of 50k.

[Fairandbalanced]

How is hiring? Teachers, military etc I read everyday of companies widing down and layoffs, floods etc whatever they aye saying or the numbers are not hitting the common mwananchi, people are suffering and this is all before these new taxes hit.

[RV Pundit]

You like arguing.

How is hiring? Teachers, military etc I read everyday of companies widing down and layoffs, floods etc whatever they aye saying or the numbers are not hitting the common mwananchi, people are suffering and this is all before these new taxes hit.

[Nowayhaha]

Growth of economy by loaning money to pay Eurobond?
Kenya is at its worst like Moi time in terms of Youth employment and retrenchments.
Whoever says otherwise is a Fanatic or does not live in Kenya.

[RV Pundit]

Growth of economy by loaning money to pay Eurobond?
Kenya is at its worst like Moi time in terms of Youth employment and retrenchments.
Whoever says otherwise is a Fanatic or does not live in Kenya.

. Your personal issues do not translate to economy that grew 5.6%...higher than handshake bar recovery growth of 21

[gout]

Gachagua, Kindiki, ngavanas are leading the chiefs, police, kanjos in terrorizing hasoras creating the jobs.

It requires no loans or additional taxes to ensure police and kanjos stop extorting hasoras. And the said tax base will sort itself.

https://nation.africa/kenya/news/blow-to-government-as-court-court-sides-with-bar-owners-in-anti-alcohol-campaign-case-4632584
 

he sector which is largely represented by micro, small and medium enterprises saw its total share of jobs rise past the 16 million mark at 16.68 million jobs compared to 15.96 million jobs in 2022.

Informal sector jobs now account for 83.4 percent of all jobs in the economy compared to 83.3 percent of jobs previously. A further 4,300 new jobs emerged last year from self-employment and unpaid family workers.

Is this an indicator of climate change kizungu mingi hot air?

Jobs created out of electricity, gas, steam and air conditioning supply however slacked, falling by 200 roles.

[Nefertiti]

Numbers don't lie.

Ruto needs to press on with debt weaning and redirecting subsidies to production not consumption. Expect usual noises from Omtata and Sifuna as they oppose Finance Bill 24. But those  eforms will pay off.

Simultaneously Ruto & GoK Inc are here stepping up FDI, debt restructuring and marketing Kenya pristine credentials. Literally Kenya has no impediment but only needs persistent savvy courting. Ambassador or commercial should be PS-level caliber right now - at least in strategic countries.

Ruto is nicking it. He has invited Biden for state visit next year.

[Nowayhaha]

Invited Biden for state visit , Very laughable……Trump will be in that seat …..   

Numbers don't lie.

Ruto needs to press on with debt weaning and redirecting subsidies to production not consumption. Expect usual noises from Omtata and Sifuna as they oppose Finance Bill 24. But those  eforms will pay off.

Simultaneously Ruto & GoK Inc are here stepping up FDI, debt restructuring and marketing Kenya pristine credentials. Literally Kenya has no impediment but only needs persistent savvy courting. Ambassador or commercial should be PS-level caliber right now - at least in strategic countries.

Ruto is nicking it. He has invited Biden for state visit next year.

[Nefertiti]

Duhh it's a metaphor that he is pulling all the levers.

What I don't hear from you and Omtata - is alternative strategy. What is better than Rutonomics?

1. FDI vs infra-first Kibakism. You need startups than roads
2. Production subsidies (fertilizer, seeds, etc) vs handouts
3. Optimize levies via cashless digital - it's thieves and freeloaders crying. Pay up and demand service
4. Et cetera. I would love to tax (idle) assets or wealth... not reviewed Finance Bill 24 yet.

I want to see if 7am target meetings with ambassadors or commercial attaches can land Apple and Tesla assemblies in Athi River or Naivasha SEZ. We are not just praising Ruto fwaa. The time for hard M&E iko bado.

If Ruto manages impressive Kagame numbers... I will join Pundit to extend his term. If not we kick him fiercely ala 2022.

Invited Biden for state visit , Very laughable……Trump will be in that seat …..   

Numbers don't lie.

Ruto needs to press on with debt weaning and redirecting subsidies to production not consumption. Expect usual noises from Omtata and Sifuna as they oppose Finance Bill 24. But those  eforms will pay off.

Simultaneously Ruto & GoK Inc are here stepping up FDI, debt restructuring and marketing Kenya pristine credentials. Literally Kenya has no impediment but only needs persistent savvy courting. Ambassador or commercial should be PS-level caliber right now - at least in strategic countries.

Ruto is nicking it. He has invited Biden for state visit next year.

[RV Pundit]

Ruto as long as he continue to listen to expert advice is on the right track.

Duhh it's a metaphor that he is pulling all the levers.

What I don't hear from you and Omtata - is alternative strategy. What is better than Rutonomics?

1. FDI vs infra-first Kibakism. You need startups than roads
2. Production subsidies (fertilizer, seeds, etc) vs handouts
3. Optimize levies via cashless digital - it's thieves and freeloaders crying. Pay up and demand service
4. Et cetera. I would love to tax (idle) assets or wealth... not reviewed Finance Bill 24 yet.

I want to see if 7am target meetings with ambassadors or commercial attaches can land Apple and Tesla assemblies in Athi River or Naivasha SEZ. We are not just praising Ruto fwaa. The time for hard M&E iko bado.

If Ruto manages impressive Kagame numbers... I will join Pundit to extend his term. If not we kick him fiercely ala 2022.

Invited Biden for state visit , Very laughable……Trump will be in that seat …..   

Numbers don't lie.

Ruto needs to press on with debt weaning and redirecting subsidies to production not consumption. Expect usual noises from Omtata and Sifuna as they oppose Finance Bill 24. But those  eforms will pay off.

Simultaneously Ruto & GoK Inc are here stepping up FDI, debt restructuring and marketing Kenya pristine credentials. Literally Kenya has no impediment but only needs persistent savvy courting. Ambassador or commercial should be PS-level caliber right now - at least in strategic countries.

Ruto is nicking it. He has invited Biden for state visit next year.

[hk]

GDP growth of 5.8% driven by agriculture. After 2yrs of drought the sector had to rebound after ample rainfall last year, the fertilizer subsidy effect was marginal at best. The much heralded FDIs are the likes of moderna which has already stopped the investment. The others are wind energy which conversely ensures that thermal energy remains relevant to smooth out intermittency of wind energy.
The biggest albatross on the kenya economy is high government borrowing and the high interest rates caused by borrowing. There's nothing being done to lower rates so that private sector can access credit. Without private sector investments, jobs, economic growth and wealth creation will remain a pipedream.
Taxes and levies are only pushing more businesses into the informal sector, no wonder its only informal sectors thats creating jobs.

[RV Pundit]

40% increase of maize prod from 30m bags to almost 50m bags didn't just happened coz of rain but Gok did great
. This year we will see more Agri prod. Private credit grew by 13%. Interest still a problem with npl but I expect come August things will be nyweeee

GDP growth of 5.8% driven by agriculture. After 2yrs of drought the sector had to rebound after ample rainfall last year, the fertilizer subsidy effect was marginal at best. The much heralded FDIs are the likes of moderna which has already stopped the investment. The others are wind energy which conversely ensures that thermal energy remains relevant to smooth out intermittency of wind energy.
The biggest albatross on the kenya economy is high government borrowing and the high interest rates caused by borrowing. There's nothing being done to lower rates so that private sector can access credit. Without private sector investments, jobs, economic growth and wealth creation will remain a pipedream.
Taxes and levies are only pushing more businesses into the informal sector, no wonder its only informal sectors thats creating jobs.

[Georgesoros]

As long as the middle class is shrinking, there will be no economic growth.
There needs to be balance.

[hk]

40% increase of maize prod from 30m bags to almost 50m bags didn't just happened coz of rain but Gok did great
. This year we will see more Agri prod. Private credit grew by 13%. Interest still a problem with npl but I expect come August things will be nyweeee

GDP growth of 5.8% driven by agriculture. After 2yrs of drought the sector had to rebound after ample rainfall last year, the fertilizer subsidy effect was marginal at best. The much heralded FDIs are the likes of moderna which has already stopped the investment. The others are wind energy which conversely ensures that thermal energy remains relevant to smooth out intermittency of wind energy.
The biggest albatross on the kenya economy is high government borrowing and the high interest rates caused by borrowing. There's nothing being done to lower rates so that private sector can access credit. Without private sector investments, jobs, economic growth and wealth creation will remain a pipedream.
Taxes and levies are only pushing more businesses into the informal sector, no wonder its only informal sectors thats creating jobs.

Credit growth is below 8%. Bumper harvest of maize would dictate that NCPB maize price be reduced to reflect on increased supply, hasn't happened. So not only are taxpayers paying for subsidy, they're also paying for inflated prices on maize, this is double taxation on taxpayers.
The banking industry is simply not lending to private sector, everyone is now investing in government debt including housing fund.

[RV Pundit]

NCPB was buy at 4000 - you know farmers been stuck at 6000 per bags for 3yrs.
Now maize is almost retailing for 2500 - 3000.
Unga is no longer an issue - in fact next year maize of 2kg will sell for 100shs.
If Ruto watches maize and make sure it never cross 100 - his re-election is almost gurantee - majority of kenya just care about Ugali and sukama wiki.

Financial sector is sick - because the money from frontier simply moved to advanced nations - and that money is starting to flow back.

With it - things will improve. All one need now is NOT to sink. I believe come august with payment of China sgr - gok will sort their stuff - money will start to flow - for those who depend on public sector - which is a lot of people.

Credit growth is below 8%. Bumper harvest of maize would dictate that NCPB maize price be reduced to reflect on increased supply, hasn't happened. So not only are taxpayers paying for subsidy, they're also paying for inflated prices on maize, this is double taxation on taxpayers.
The banking industry is simply not lending to private sector, everyone is now investing in government debt including housing fund.

[sema]

People on the ground are telling me that economically, things are extremely bad. No money in their pockets. Ndii is abused everyday on twitter.

[Nefertiti]

People on the ground are telling me that economically, things are extremely bad. No money in their pockets. Ndii is abused everyday on twitter.

Weaning baby off breast milk and Cerelac expect tantrums. Swapping debt for tax efficiency. Swapping handouts for fertilizer. Not easy but will pay off.

I see Kenya's big opening as geoeconomics: the chaos of Sudan, Somalia, etc; the Gaza fallout; the West vs China-Russia; the Africa startup era. These are not small stuff.. and Ruto is just the man for the job.

The "global financial architecture" forum is ongoing in Nairobi right now. Ruto is no joke. Of all things you can do, FDI at scale is the single biggest lever that can grow Kenya. I told you there is a reason why you now have the Ministry of "Investment, trade & industry".. shows the new focus.

[gout]

Hasla and his government officials can only be weaned off through a looming debt default. Then they will understand that hasoras tantrums mean something and stop thinking the trillions they are spending and are planning to spend do not come from Washington. 

Tax efficiency requires brutal government expenditure management.
 

People on the ground are telling me that economically, things are extremely bad. No money in their pockets. Ndii is abused everyday on twitter.

Weaning baby off breast milk and Cerelac expect tantrums. Swapping debt for tax efficiency. Swapping handouts for fertilizer. Not easy but will pay off.

I see Kenya's big opening as geoeconomics: the chaos of Sudan, Somalia, etc; the Gaza fallout; the West vs China-Russia; the Africa startup era. These are not small stuff.. and Ruto is just the man for the job.

The "global financial architecture" forum is ongoing in Nairobi right now. Ruto is no joke. Of all things you can do, FDI at scale is the single biggest lever that can grow Kenya. I told you there is a reason why you now have the Ministry of "Investment, trade & industry".. shows the new focus.

[Nefertiti]

Going by Ndindi's budget estimate they have trimmed 300B off 2024-5. Brutal enough.

But the strategy is: replace debtflow with FDI.. which requires really hard work Ruto has been doing out here.

Hasla and his government officials can only be weaned off through a looming debt default. Then they will understand that hasoras tantrums mean something and stop thinking the trillions they are spending and are planning to spend do not come from Washington. 

Tax efficiency requires brutal government expenditure management.
 

People on the ground are telling me that economically, things are extremely bad. No money in their pockets. Ndii is abused everyday on twitter.

Weaning baby off breast milk and Cerelac expect tantrums. Swapping debt for tax efficiency. Swapping handouts for fertilizer. Not easy but will pay off.

I see Kenya's big opening as geoeconomics: the chaos of Sudan, Somalia, etc; the Gaza fallout; the West vs China-Russia; the Africa startup era. These are not small stuff.. and Ruto is just the man for the job.

The "global financial architecture" forum is ongoing in Nairobi right now. Ruto is no joke. Of all things you can do, FDI at scale is the single biggest lever that can grow Kenya. I told you there is a reason why you now have the Ministry of "Investment, trade & industry".. shows the new focus.