A economic avalanche is coming

[gout]

Bank loan defaults have crossed the half a trillion shilling mark for the first time, setting up thousands of borrowers for property seizures in an economy hit with reduced cash flows and inflation that has squeezed household budgets and demand for goods.

The latest Central Bank of Kenya (CBK) data shows that defaulted loans rose by Sh30.6 billion in June to Sh514.4 billion -- the sharpest monthly increase in recent history.

The mounting defaults are a reflection of the struggles of workers and businesses in an economy that is yet to fully recover from a coronavirus-induced slump, which triggered job cuts and business closures.

https://www.businessdailyafrica.com/bd/markets/capital-markets/bank-loan-defaults-cross-half-a-trillion-for-the-first-time-3925518

[Stockguru]

I know things are thick economic3ally in kenya because i am getting m7 requests ev4ery other week to help vinyangarikas in kenya with money
How do I respond I block the requester

[KenyanPlato]

most of the people in dire needs are kikuyu women. the educated ones are very inflexible and have been opening their wombs to higher bidder leaving them with burden of raising bastards. kikuyu men are able to retool and go to the gutter and restrategize but women are very egoistic

[KenyanPlato]

when I advised these morons to abandon their high end life eg expensive apartment and schools for kids they refused to. two years later they are depressed snd on verge of suicide

[patel]

Cut across the tribal line. Welcome to Instagram age where everyone is doing well and taking expensive vacations to Dubai, Maldives or mykonos. Ngels don't want to be tied down in marriage with hasoras while they could be dating 10 or more mbabas. 1 to cater for rent, other for car, other for other ghasia..etc etc kenya is a single mother's nation shida tupu...Kenya is minting young beautiful ngels faster than mbaba can consume them we need more hasoras to move up the totem pole just to keep up with demand...its pite

most of the people in dire needs are kikuyu women. the educated ones are very inflexible and have been opening their wombs to higher bidder leaving them with burden of raising bastards. kikuyu men are able to retool and go to the gutter and restrategize but women are very egoistic

[KenyanPlato]

yeah 1 million girls are joining the Kuma business yearly. it is a pity. the naive gals are the ones that go to university and never commit to marriage and now are stuck in the most expensive city on Africa with no man to share costs
 plus most of these women are taking care of their deadbeat parents and siblings. shida tupu. a friend of mine is doing her PhD research on sponsor economy ...

[gout]

No surprises. The subsidy was mismanaged.  With the cold seasons about to end, maize from local production will start getting to the market.

https://www.businessdailyafrica.com/bd/economy/state-yet-to-pay-millers-sh4bn-in-maize-plan-3936946

As it is, the economy is the only opposition to Hasla.

[gout]

Govt paralysis and crazy foreign policy sees TZ flexing with maize traders.

The raft of measures issued by Tanzania a fortnight ago also makes it mandatory for importers and exporters of grain to register with the Business Registrations and Licensing Agency (BRELA) and obtain a trading permit.

Traders will also be required to present tax clearance certificate and show business permit issued by BRELA allowing them to trade on grain before they are allowed to export the commodities.

Before this, Kenyan traders bringing in maize from Tanzania were only required to have export permits, according to United Grain Millers Association chairperson Ken Nyaga.

These strict conditions have seen traders cut on imports from Tanzania, worsening the situation locally given limited supply of maize locally.

Some millers and animal feed manufacturers raised concerns early in the week that Tanzania had stopped issuing permits last week, cutting the supply of the grain locally.

I have Keg is already too expensive thus the increasing bursts on unlicensed liquor factories.
https://www.businessdailyafrica.com/bd/markets/commodities/keg-beer-lovers-to-pay-more-as-price-goes-up-next-month-3940608

[patel]

600 birrion in pending bills....Jesus. suppliers who really supplied govt. and county governments must be crying.  A lot will be wiped out.

[patel]

Compound that with famine...ni kubaya boss

[gout]

An indicator of entrenched poverty and illiteracy.

The latest industry data from the Communications Authority of Kenya (CA) shows feature phone subscriptions stood at 32.9 million in the year to June, representing 55.1 percent market share.

https://www.businessdailyafrica.com/bd/corporate/technology/feature-phones-still-rule-kenyas-handset-market-3965878

[gout]

Banks reaping from digital loans and forex plus usual T Bonds.

https://www.businessdailyafrica.com/bd/corporate/companies/ncba-net-profit-surges-record-96-per-cent--4031752

[RV Pundit]

Something wrong with Forex market.

Opus dei says it was goldenburg heist.

These are their outcome...super normal margins from forex arbitrage.

[gout]

Something needs to be found to fine them heavily. This is economic sabotage if not terrorism.

Banks earnings from trading forex currencies increased 87% to Sh53 billion for January to September period due to high demand for dollars for imports.

Banks have been buying dollars at Sh120 and selling them at Sh130.

[gout]

World Bank fingers ufool for pro-rich economic pursuits. State capture and crony capitalism.

https://www.businessdailyafrica.com/bd/economy/-world-bank-faults-uhuru-s-growth-for-helping-the-rich--4045792

[gout]

For beer it is clearly the obnoxious taxes and lack of competition but for others like sukuma and meat are not making sense. We could be having the most expensive beers in the world at crazy $2 for largely pathetic eabl horse piss.

Why are people not going back to farms despite the high food prices? 
Sukuma takes 4 weeks. Poor weather?? Really??

Meat prices rose even when pastoralists were throwing away their livestock.

The KNBS data show that the average price of a kilo of sukuma wiki rose by 50.02 per cent to an average of Sh54.47 last year as poor weather continued to affect the crop.

The price of a kilo of matumbo, also a popular dish among low-income households, rose by 48.4 per cent to an average of Sh279.66 in 2021 from Sh188.39 in the review period.

The price of Tusker beer, popular with most middle-class beer drinkers, increased by 47.1 per cent to Sh174.52 in 2019 when KNBS stopped tracking the price of this alcoholic beverage, shifting to Lager and Stouts.

https://www.businessdailyafrica.com/bd/economy/beer-beef-prices-in-sharpest-rise-as-kenya-fights-drought--4054132

[RV Pundit]

I think crazy seasonal variation in vegetables and fruits due to rain fed agriculture is normal in Kenya.The drought affected Mt Kenya which source of vegetables..If you plant sukuma wiki in kericho I think transport will eat you ..so only make sense in areas around Nairobi.Beef and others reflect real inflation..ikipanda imepanda forever

[KenyanPlato]

Njuguna has declared that the economy won't be revived soon. that is clear admission by uda regime that the economy has collapsed. Anyway we knew this from the get go. poor kenyans will have to endure another year of misery ..Rains are predicted to fail again this year

[RV Pundit]

These days kenya economy "fails" when it grow at 5.5 percent or 6 percent - that mean we should be aiming for 7.5 percent growth - which is prerequisite to get to middle class.

Yes most are predicting 5.5 percent this year -  all depend on the global economic crisis playing out - and rain.

Njuguna has declared that the economy won't be revived soon. that is clear admission by uda regime that the economy has collapsed. Anyway we knew this from the get go. poor kenyans will have to endure another year of misery ..Rains are predicted to fail again this year

[hk]

https://www.businessdailyafrica.com/bd/economy/taxman-misses-revenue-target-by-sh32-2bn-in-first-five-months--4083266 all the crazy tax collection projections wont be met. Meaning budget deficit will still be more than 8%.  Banks are raising interest rates so credit will be expensive. Government can digitize everything and still wont collect the projected taxes. The only solution has to be to reignite private sector growth driven by increase in production.
The hustler fund 50b. If instead of the fund the government lowered VAT to 14% which would cost roughly the same amount, it'd have increased demand then production. Or raising paye lowest brackets from 13k to 15k. This might have been more stimulative( humble opinion).