Kenyan Economy shedding jobs like nonsense

[KenyanPlato]

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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

[Georgesoros]

This is why we need to restructure government to be efficient

[patel]

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

[RV Pundit]

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.

[hk]

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.

[RV Pundit]

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.

[hk]

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.

[RV Pundit]

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.


And so has NPL

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.

[KenyanPlato]

Who has ever eaten GDP? How many formal jobs is this economy creating?

[RV Pundit]

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?

[Nefertiti]

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.

[Nefertiti]

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.

[Nefertiti]

Kenya's runaway debt, betting and shylock business are not indicators of growth.

[RV Pundit]

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.

[Georgesoros]

Kenya's runaway debt, betting and shylock business are not indicators of growth.

[RV Pundit]

Kenya's runaway debt, betting and shylock business are not indicators of growth.

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.

[Nefertiti]

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.

[Nefertiti]

Pundit if HDI is high and Gini low it tell you there is widespread sustainable prosperity.

[RV Pundit]

Kenya is relatively doing well despite all the propaganda

[hk]

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.