ProblemChild1:
Upon the editing, it still looks ugly

I thought I was the only one that noticed that.

rvp2018:
REMOVE OIL ECONOMY - and what do you have left in Nigeria. Nollywood?

Lol, it's like asking: Remove Tea, Flower, and Mango economy- what do you have left in Kenya?

I have told you to debate me on our non oil and gas sectors as well, those sectors are still way bigger than those of Kenya and you know it. You guys are quiet hilarious.

Nigerian Banking
Nigerian financial markets
Nigerian Telecoms
Nigerian Agriculture
Nigerian Trade

It's laughable to think you compete with Nigeria in all of these areas.

KQ still flying - Only Ethi (impressive top 30), SAA and Air Maroc better than KQ

Kenya Airways dropped three places in the latest global ranking of airlines, trailing its regional rival Ethiopian Airlines, which recorded a significant jump to fly within the top 30 carriers in the world.

Skytrax World Airline Awards—which rates the world’s best carriers— placed KQ in position 81 in this year’s ranking, down from 79th in last year’s report.

Ethiopian Airlines, which rose 11 places to position 26, emerged as Africa’s best carrier with South African Airways and Air Maroc coming in at position 66 and 79 respectively to stay within the top 100 carriers globally.

Sector 1: Financial and Intermediation.
Last I checked Kenya total banking asset was 55B dollar against Naija 110B.
Your insurance sector is very small - Kenya is 2nd to South Africa in SSA
Your pension fund is also not big.
Your stock exchange last I checked was twice bigger than NSE - Nairobi.
Your bond market, PE and name it I bet is smaller than Nairobi
Fintech we are neck to neck.

Sector 2: Telcom - I can bet by now Kenya is equal to Nigeria all things considered.
Safaricom 2022 revenues 297B kshs. Nigeria MTN did 950 B Naira...I think you know the exchange rate is now 1:4. That means Safaricom alone earnt more than 1.2 trillion Naira.
For example - your fixed broadband is 80K while kenya is 1 Million. Average per connection folks pay 40-50 dollars. So you're talking about 600M dollars hapo kenyans with proper internet...which is dream for Nigerians. Still running off a generator and mobile broadband...while many kenyans now have fiber to home.

Sector 3: Your agricultural data is doggy - pure guestimate of a druken sailor at stats office. There few formally marketed goods - and even few exported agri goods. We know you still import lots of food.

Trade: Again which trade - it's totally informal retail and wholesale - Kenya at least has very good formal retail - with sales from formal supermarket chains I bet crossing 4B dollars now.

GeneralDae2:

Lol, it's like asking: Remove Tea, Flower, and Mango economy- what do you have left in Kenya?

I have told you to debate me on our non oil sectors as well, those sectors are still way bigger than those of Kenya and you know it. You guys are quiet hilarious.

Nigerian Banking
Nigerian financial markets
Nigerian Telecoms
Nigerian Agriculture
Nigerian Trade

It's laughable to think you compete with Nigeria in all of these areas.

rvp2018:
REMOVE OIL ECONOMY - and what do you have left in Nigeria. Nollywood?

It would be a blessing in disguise cos it will make us diversify our economy to more different sectors. It would take time and it won't be easy, but it's worth it

As Ghana export is messing UK - original Ghanian in Accra is doing crazy stuff - restructuring domestic debt to meet IMF bailout conditions. Never happened before in any country I know of around.
---
Ghana is considering reorganizing part of its $19 billion of local debt in order to secure a loan from the International Monetary Fund. The changes may impose losses in capital and interest payments on investors, according to people familiar with the matter.Sep 23, 2022

Meanwhile DEFAULT real possibility in GHANA - The unusual domestic restructuring will crash banks - causing huge crisis. Domestic debt is repaid by printing money if revenues cannot pay for it - that means devaluing CEDIS - not asking local bond holders to take a hair cut. Never happen before - gov should never default on domestic debt - when they can print the money.
https://www.reuters.com/world/africa/default-a-real-possibility-ghana-fitch-senior-director-says-2022-09-21/
"Default is a real possibility," Fitch Senior Director Mahin Dissanayake said during a press briefing.

"Ghanaian banks...hold large volumes of government securities, so debt distress is going to put a lot of stress on the banks," he said. "The operating environment is looking very fragile."

kikuyu1:


I could ask if you've read about the expansion into the hugely unbanked Ethiopia and the DRC and if you comprehend the implications.
While you screech of comparative ROI seen this:



[urlhttps://internationalfinance.com/kenyan-banks-outperform-nigerian-counterparts//url]

Idk if you've heard of Moody's but they're def not keke operators! They're some of the most respected names in global finance.
Here's a recent source more familiar to Naijjans:



[https://businessday.ng/energy/article/nigerian-banks-return-on-equity-lags-kenya-south-african-peers/]

Even if you could understand these facts you'd behave like your Waffas on this thread; which is to say like a pigeon playing chess.

So continue self servicing yourself to sleep fantasising about "Giant" banks dominating us.
Luckily literate Kenyans here can absorb facts....

What’s the Bleep is DRC

We bring up banking and you Kenya keep shouting your expansion into DRC will make you surpass Nigeria. How?

The only thing DRC will give you is large customer base, there’s nothing in DRC.

I’ll rather have a bank with a 1000 accounts in Kenya than a bank will millions of customer in dirt poor DRC.

You keep losing money expanding to countries that have dirt poor banking sector, while we nigeria banks keep acquiring your banks at home.

rvp2018:
Sector 1: Financial and Intermediation.
Last I checked Kenya total banking asset was 55B dollar against Naija 110B.
Your insurance sector is very small - Kenya is 2nd to South Africa in SSA
Your pension fund is also not big.
Your stock exchange last I checked was twice bigger than NSE - Nairobi.
Your bond market, PE and name it I bet is smaller than Nairobi
Fintech we are neck to neck.

Sector 2: Telcom - I can bet by now Kenya is equal to Nigeria all things considered.
Safaricom 2022 revenues 297B kshs. Nigeria MTN did 950 B Naira...I think you know the exchange rate is now 1:4. That means Safaricom alone earnt more than 1.2 trillion Naira.
For example - your fixed broadband is 80K while kenya is 1 Million. Average per connection folks pay 40-50 dollars. So you're talking about 600M dollars hapo kenyans with proper internet...which is dream for Nigerians. Still running off a generator and mobile broadband...while many kenyans now have fiber to home.

Sector 3: Your agricultural data is doggy - pure guestimate of a druken sailor at stats office. There few formally marketed goods - and even few exported agri goods. We know you still import lots of food.

Trade: Again which trade - it's totally informal retail and wholesale - Kenya at least has very good formal retail - with sales from formal supermarket chains I bet crossing 4B dollars now.

Last I checked Kenya total banking asset was 55B dollar against Naija 110B.

Nigerian total banking asset is over 140 Billion dollars this year 2022. So you see yours is about 2.5 times or more less.

Your insurance sector is very small - Kenya is 2nd to South Africa in SSA

Neither Kenya or Nigeria are doing that much better than the other in this area. Here is a list of the top 100 insurance companies in Africa.
Nigeria has 3 companies represented in top 50 there and Kenya has 2. The list is dominated by South Africa, Morocco, Algeria, and Egypt.
https://atlas-mag.net/en/article/top-100-insurance-companies-in-africa

Your pension fund is also not big.

You are truly a clown. Kenyan pension fund is 4.4 Billion dollars. That of Nigeria is over 30 billion dollars. This seem to be a waste of my time.

https://english.news.cn/africa/20220218/c53f374bfde94b3c8ca911391e9d574a/c.html

https://www.worldstagenews.com/2022/03/04/nigeria-pension-fund-assets-rise-1-37-to-n13-61trn-in-jan-2022/

Your stock exchange last I checked was twice bigger than NSE - Nairobi.

Are you for real? Twice bigger? Nigerian total market cap is 66 Billion dollars with about 49000 basis points and 161 companies listed. Kenyan market cap is about 18 billion dollars and reducing significantly. That's close to 4 times smaller than that of Nigeria (dominated by indigenous companies who do not have to threaten the market with capital flights when there are global problems). What in the world are you smoking man?

Your bond market, PE and name it I bet is smaller than Nairobi

Speaking out of conjecture again?? lol. You should not be taken seriously really . African bond market is dominated by South Africa, Egypt, and Nigeria. These are the competitors in the bond market. Kenya is not close.

Fintech we are neck to neck.

Nah, Fintech, we are not neck to neck. Yours is doing well, at least due to Mpesa, but we have a more advanced fintech market than yours, that's why MTN momo just being introduced are to target the unbanked in rural areas to make up 70% of their customers. Because they are coming into a market whose Banks have lots of options and not one single dominant option.

Sector 2: Telcom - I can bet by now Kenya is equal to Nigeria all things considered.

In what world is that even possible?

Safaricom 2022 revenues 297B kshs. Nigeria MTN did 950 B Naira...I think you know the exchange rate is now 1:4. That means Safaricom alone earnt more than 1.2 trillion Naira.
For example - your fixed broadband is 80K while kenya is 1 Million. Average per connection folks pay 40-50 dollars. So you're talking about 600M dollars hapo kenyans with proper internet...which is dream for Nigerians. Still running off a generator and mobile broadband...while many kenyans now have fiber to home.

You are a joke. MTN made 1.65 trillion in 2021 (3.7 billion dollars). Airtel also made close to that. Glo made over 1.5 billion dollars.
MTN has 78 million active subscribers in Nigeria, Airtel has 56 million and Glo has 38 million.
How on earth are you comparing this kind of a market to that of Safaricom in Kenya?

Sector 3: Your agricultural data is doggy - pure guestimate of a druken sailor at stats office. There few formally marketed goods - and even few exported agri goods. We know you still import lots of food.

Our Agriculture data can't be dodgy simply because we import lots of food. We are one of the dominant players in about 4 out of the 7 major staple foods in the world.

Trade: Again which trade - it's totally informal retail and wholesale - Kenya at least has very good formal retail - with sales from formal supermarket chains I bet crossing 4B dollars now.

Next time when you want to reply me, don't speak from your ass. E-commerce alone in Nigeria is worth about 13 billion dollars. Konga and Jumia, two of five top e-commerce companies in Africa have their biggest markets in Nigeria. A market with a plethora of other booming and upcoming e-commerce platforms.

Those informal sme's in Nigeria make up about 45% of the total number of sme's in Africa.

GeneralDae2:



Nigerian total banking asset is over 140 Billion dollars this year 2022. So you see yours is about 2.5 times or more less.


This is a lie. Kenya is not second to South Africa. Neither Kenya or Nigeria are doing that much better than the other in this area. Here is a list of the top 100 insurance companies in Africa.
Nigeria has 3 companies represented in top 50 there and Kenya has 2. The list is dominated by South Africa, Morocco, Algeria, and Egypt.
https://atlas-mag.net/en/article/top-100-insurance-companies-in-africa


You are truly a clown. Kenyan pension fund is 4.4 Billion dollars. That of Nigeria is over 30 billion dollars. This seem to be a waste of my time.


Are you for real? Twice bigger? Nigerian total market cap is 66 Billion dollars with about 49000 basis points and 161 companies listed. Kenyan market cap is about 18 billion dollars and reducing significantly. That's close to 4 times smaller than that of Nigeria (dominated by indigenous companies who do not have to threaten the market with capital flights when there are global problems). What in the world are you smoking man?


Speaking out of conjecture again?? lol. You should not be taken seriously really .



Nah, Fintech, we are not neck to neck. Yours is doing well, at least due to Mpesa, but we have a more advanced fintech market than yours, that's why MTN momo just being introduced are to target the unbanked in rural areas to make up 70% of their customers. Because they are coming into a market whose Banks have lots of options and not one single dominant option.


In what world is that even possible?


You are a joke. MTN made 1.65 trillion in 2021 (3.7 billion dollars). Airtel also made close to that. Glo made over 1.5 billion dollars.
MTN has 78 million active subscribers in Nigeria, Airtel has 56 million and Glo has 38 million.
How on earth are you comparing this kind of a market to that of Safaricom in Kenya?


Our Agriculture data can't be dodgy simply because we import lots of food. We are one of the dominant players in about 4 out of the 7 major staple foods in the world.


Next time when you want to reply me, don't speak from your ass. E-commerce alone in Nigeria is worth about 13 billion dollars. Konga and Jumia, two of five top e-commerce companies in Africa have their biggest markets in Nigeria. A market with a plethora of other booming and upcoming e-commerce platforms.

Those informal sme's in Nigeria make up about 45% of the total number of sme's in Africa.

Why do Kenyans on this thread like over estimating figures and facts to make Kenya look good while also underestimating Nigeria's own?
It's becoming annoying

kikuyu1:


Ok!

Idiot. Thanks for reverting to your usual nonsense when facts hit you hard. Stupid old man.

Fourpockets:

Why do Kenyans on this thread like over estimating figures and facts to make Kenya look good while also underestimating Nigeria's own?
It's becoming annoying

Because they're like their father the devil.
Lying comes naturally to them. They just pull out figures from thin air.

GeneralDae2:



Nigerian total banking asset is over 140 Billion dollars this year 2022. So you see yours is about 2.5 times or more less.


Neither Kenya or Nigeria are doing that much better than the other in this area. Here is a list of the top 100 insurance companies in Africa.
Nigeria has 3 companies represented in top 50 there and Kenya has 2. The list is dominated by South Africa, Morocco, Algeria, and Egypt.
https://atlas-mag.net/en/article/top-100-insurance-companies-in-africa


You are truly a clown. Kenyan pension fund is 4.4 Billion dollars. That of Nigeria is over 30 billion dollars. This seem to be a waste of my time.

https://english.news.cn/africa/20220218/c53f374bfde94b3c8ca911391e9d574a/c.html

https://www.worldstagenews.com/2022/03/04/nigeria-pension-fund-assets-rise-1-37-to-n13-61trn-in-jan-2022/


Are you for real? Twice bigger? Nigerian total market cap is 66 Billion dollars with about 49000 basis points and 161 companies listed. Kenyan market cap is about 18 billion dollars and reducing significantly. That's close to 4 times smaller than that of Nigeria (dominated by indigenous companies who do not have to threaten the market with capital flights when there are global problems). What in the world are you smoking man?


Speaking out of conjecture again?? lol. You should not be taken seriously really . African bond market is dominated by South Africa, Egypt, and Nigeria. These are the competitors in the bond market. Kenya is not close.



Nah, Fintech, we are not neck to neck. Yours is doing well, at least due to Mpesa, but we have a more advanced fintech market than yours, that's why MTN momo just being introduced are to target the unbanked in rural areas to make up 70% of their customers. Because they are coming into a market whose Banks have lots of options and not one single dominant option.


In what world is that even possible?


You are a joke. MTN made 1.65 trillion in 2021 (3.7 billion dollars). Airtel also made close to that. Glo made over 1.5 billion dollars.
MTN has 78 million active subscribers in Nigeria, Airtel has 56 million and Glo has 38 million.
How on earth are you comparing this kind of a market to that of Safaricom in Kenya?


Our Agriculture data can't be dodgy simply because we import lots of food. We are one of the dominant players in about 4 out of the 7 major staple foods in the world.


Next time when you want to reply me, don't speak from your ass. E-commerce alone in Nigeria is worth about 13 billion dollars. Konga and Jumia, two of five top e-commerce companies in Africa have their biggest markets in Nigeria. A market with a plethora of other booming and upcoming e-commerce platforms.

Those informal sme's in Nigeria make up about 45% of the total number of sme's in Africa.

See finishing.

The only company of note they have is Safaricom which is majority owned by foreigners.

Shoprite could not sustain the heat of Naivas and Quickmart.

Nairobi

Kenya's Hospitality industry.

I guess we have to do this ritual annually. Show me 13B dollars worth of E-commerce in Nigeria. That would be very impressive.

GeneralDae2:



Nigerian total banking asset is over 140 Billion dollars this year 2022. So you see yours is about 2.5 times or more less.


Neither Kenya or Nigeria are doing that much better than the other in this area. Here is a list of the top 100 insurance companies in Africa.
Nigeria has 3 companies represented in top 50 there and Kenya has 2. The list is dominated by South Africa, Morocco, Algeria, and Egypt.
https://atlas-mag.net/en/article/top-100-insurance-companies-in-africa


You are truly a clown. Kenyan pension fund is 4.4 Billion dollars. That of Nigeria is over 30 billion dollars. This seem to be a waste of my time.

https://english.news.cn/africa/20220218/c53f374bfde94b3c8ca911391e9d574a/c.html

https://www.worldstagenews.com/2022/03/04/nigeria-pension-fund-assets-rise-1-37-to-n13-61trn-in-jan-2022/


Are you for real? Twice bigger? Nigerian total market cap is 66 Billion dollars with about 49000 basis points and 161 companies listed. Kenyan market cap is about 18 billion dollars and reducing significantly. That's close to 4 times smaller than that of Nigeria (dominated by indigenous companies who do not have to threaten the market with capital flights when there are global problems). What in the world are you smoking man?


Speaking out of conjecture again?? lol. You should not be taken seriously really . African bond market is dominated by South Africa, Egypt, and Nigeria. These are the competitors in the bond market. Kenya is not close.



Nah, Fintech, we are not neck to neck. Yours is doing well, at least due to Mpesa, but we have a more advanced fintech market than yours, that's why MTN momo just being introduced are to target the unbanked in rural areas to make up 70% of their customers. Because they are coming into a market whose Banks have lots of options and not one single dominant option.


In what world is that even possible?


You are a joke. MTN made 1.65 trillion in 2021 (3.7 billion dollars). Airtel also made close to that. Glo made over 1.5 billion dollars.
MTN has 78 million active subscribers in Nigeria, Airtel has 56 million and Glo has 38 million.
How on earth are you comparing this kind of a market to that of Safaricom in Kenya?


Our Agriculture data can't be dodgy simply because we import lots of food. We are one of the dominant players in about 4 out of the 7 major staple foods in the world.


Next time when you want to reply me, don't speak from your ass. E-commerce alone in Nigeria is worth about 13 billion dollars. Konga and Jumia, two of five top e-commerce companies in Africa have their biggest markets in Nigeria. A market with a plethora of other booming and upcoming e-commerce platforms.

Those informal sme's in Nigeria make up about 45% of the total number of sme's in Africa.

obaaderemi:
See finishing.

The only company of note they have is Safaricom which is majority owned by foreigners.

Talking without evidence.

Safaricom shareholding structure.
35% GOK
35% Vodacom
5% Vodafone.
25% Free floating = Kenyan individuals plus Kenyan companies.

Out of the 25% free floating you can see that 55% are Kenyans.

Shaytun:


What’s the Bleep is DRC

We bring up banking and you Kenya keep shouting your expansion into DRC will make you surpass Nigeria. How?

The only thing DRC will give you is large customer base, there’s nothing in DRC.

I’ll rather have a bank with a 1000 accounts in Kenya than a bank will millions of customer in dirt poor DRC.

You keep losing money expanding to countries that have dirt poor banking sector, while we nigeria banks keep acquiring your banks at home.

The Kikuyu1 guy is a crackhead. Don't mind him. There's nothing Kenya can teach Nigeria about banking. They're actually learning from us. The DRC he is braying about had Nigerian banks before Kenyan banks. The Kenyan banks followed a path beaten by Nigerian banks to DRC.

Out of the 16 banks in DRC three are owned by Nigerian banks. Kenya has only one.

General DOE - Where did you get 13B dollars of e-commerce in the Zoogeria
Start here ->https://s23.q4cdn.com/836376591/files/doc_financials/2022/q1/JMIA-Q1-22-ER-17.05.22.pdf
Jumia Globally cannot even cross a billion dollars in sales. That is including Kenya, Nigeria.

Look like globally they are doing GMV of 1B but revenues of 200M dollars.

Your expansion strategy is bone-headed. You go everywhere and buy the cheapest smallest struggling bank you can get - spend years cleaning their balance sheet. You give South Africa competition in burning capital.

Kenya expansion is well thought out - and strategic - with intention to turn profitable in 3yrs or bow out. This cut across most kenya companies. The only place kenya companies have got burnt so far is South Sudan - another Zoo like Zoogeria - with currency like Ghana Cedis and Zambia Kwacha.

DRC and Ethiopia represent the last frontier of banking in Africa - combined market of 200M - with almost 90% unbanked. Kenya banks are the trailblazers in banking the unbanked - and these are the models that is seen them overrun DRC. Equity was tiny banks 10yrs ago - but now it behemooth - it was not even a bank 20yrs ago - it was building cooperative society.

This is why Equity is studied in Harvard Business school - for banking the unbankable and making serious money.

obaaderemi:
The Kikuyu1 guy is a crackhead. Don't mind him. There's nothing Kenya can teach Nigeria about banking. They're actually learning from us. The DRC he is braying about had Nigerian banks before Kenyan banks. The Kenyan banks followed a path beaten by Nigerian banks to DRC.

Out of the 16 banks in DRC three are owned by Nigerian banks. Kenya has only one.

Only 51% of Nigerian adult population has bank accounts. This is much lesser than 88% of Kenya and 82% of South Africa.

Share of population above 15 yrs doing online shopping.

Why are they even expanding when they have close to 100M - another Ethiopia to be banked.

Wuoche:
Only 51% of Nigerian adult population has bank accounts. This is much lesser than 88% of Kenya and 82% of South Africa.

And General DOE will claim Nigeria made 13B dollars of e-commerce through the dead Konga and dying Jumia.

Wuoche:
Share of population above 15 yrs doing online shopping.

Kenya hospitality industry.

rvp2018:
Your expansion strategy is bone-headed. You go everywhere and buy the cheapest smallest struggling bank you can get - spend years cleaning their balance sheet. You give South Africa competition in burning capital. Kenya expansion is well thought out - and strategic - with intention to turn profitable in 3yrs or bow out. This cut across most kenya companies.

DRC and Ethiopia represent the last frontier of banking in Africa - combined market of 200M - with almost 90% unbanked. Kenya banks are the trailblazers in banking the unbanked - and these are the models that is seen them overrun DRC. Equity was tiny banks 10yrs ago - but now it behemooth - it was not even a bank 20yrs ago - it was building cooperative society.

This is why Equity is studied in Harvard Business school - for banking the unbankable and making serious money.

You are not smart. How can Kenya be the trailblazer in banking the unbanked when we showed Kenya the way to DRC?

rvp2018:
Why are they even expanding when they have close to 100M - another Ethiopia to be banked.

Their banking system is very weak.

You're funny. Do you know why Kenya local banks routed big banks like Barclays and Standard. The had been in Africa for 100yrs but only banking 5% of the population. When Nigeria banks went to DRC - you followed the same model. Heck concentrate on Nigeria - you have 100M people there who need banking services.

Now with Equity and KCB in DRC - in 2-3 yrs - everyone in DRC will have a bank account - even if they live in the slums of Kinshasa. They will be give small loans.

obaaderemi:
You are not smart. How can Kenya be the trailblazer in banking the unbanked when we showed Kenya the way to DRC?

They have innovative Fintech but their banks I bet spend half their time buying fuel for generators to run ATM and other critical servies. Must be hell of on earth. I guess every bank has Chief Petrol Buyer, Chief Generator Operator and entire department to just run power backup services.

How do you innovative when half the time 1) You're worried about Generator running out of fuel 2) Thugs

Wuoche:


Their banking system is very weak.

obaaderemi:
You are not smart. How can Kenya be the trailblazer in banking the unbanked when we showed Kenya the way to DRC?

Bank yourselves first. An entire 51% of the adult population are not banked yet you are talking about banking.

Once Equity get done with DRC and Eth - they will go and take that 100M pie from right under their nose. They will put the first branch in Makoko slums. It will world first floating bank branch . The amount of money in those mega slums is huge - and competition is under the matress.

Wuoche:


Bank yourselves first. An entire 51% of the adult population is are banked yet your are talking about banking.