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

obaaderemi:
So how come South African, Egyptian and Nigerian banks are bigger than yours? Since Egypt has 48% and Nigeria has 51%. That means Kenyan accounts are mostly empty.

rvp2018:
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.

rvp2018:
I guess we have to do this ritual annually. Show me 13B dollars worth of E-commerce in Nigeria. That would be very impressive.

obaaderemi:
So how come South African, Egyptian and Nigerian banks are bigger than yours? Since Egypt has 48% and Nigeria has 51%. That means Kenyan accounts are mostly empty.

GeneralDae2:

The current e-commerce spending in Nigeria is estimated at about $13 billion per annum, and is projected to rise to about $75 billion in revenues per annum by 2025. The market outlook for Nigeria’s e-commerce shows that the number of online shoppers in the country, which was at 76.7 million in 2021, is expected to hit 122.5 million by 2025. The figures from the Nigeria Inter-Bank Settlement System (NIBSS), also shows that Nigeria’s e-payment transactions increased by 85.5 per cent year-on-year to N171.99 trillion in August 2021,” he further stated.

https://www.vanguardngr.com/2022/08/nigeria-to-redress-poor-investment-in-e-commerce-to-meet-75bn-revenue-target-2/#:~:text=Recently%2C%20the%20sector%20has%20grown,revenues%20per%20annum%20by%202025.

You would agree with me that 76.7 million customers is already bigger than the population of Kenya.

rvp2018:
Usual Nigeria gov wild guestimates. Find us something credible.

GeneralDae2:

76.7 million people who shop online is over 1.5 times Kenyan population. They can also transfer and do e-payments effortlessly due to the advanced fintech payment sector in Nigeria.

rvp2018:
US doesnt even do that much online shopping.

rvp2018:
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."

GeneralDae2:

What in the world are you smoking man? . U.S did 811.6 billion dollars as at 2020.

In 2021, total US ecommerce sales reached $959.9 billion, an 18.3 percent year-over-year increase from $811.6 billion in 2020. It's significantly less than the US ecommerce growth rate of 2020, during which total sales increased by 42.4 percent year-over-year from 2019.

https://www.oberlo.com/statistics/us-ecommerce-sales#:~:text=US%20Ecommerce%20Sales%20(2012%E2%80%932022)&text=In%202021%2C%20total%20US%20ecommerce,%2Dover%2Dyear%20from%202019.

rvp2018:
Again Jumia wont be struggling if Nigeria did e-commerce. Konga is dead. Those gov of Nigeria stats are not worth a warm spite of saliva.

rvp2018:
Usual Nigeria gov wild guestimates. Find us something credible.

kikuyu1:


HAHAHA! Naijjans actually believe they'll grow their e commerce spending 75% YOY !? When the major e commerce outfits are struggling!?
That 13 bn $ yearly itself is a typically wildly over optimistic estimate we've come to expect.
Reminds me of the rice BS some yrs ago when Benin was consuming above their bodyweight in Asian rice imports as these Ogas were screeching of their self sufficiency....rmbr?

GeneralDae2:

13 billion dollars is not big at all. I don't blame you because of how small the Kenyan e commerce shopping is. Your man said Kenyan shopping is worth 4 billion dollars, if that is true, then even 13 billion dollars is underperformance for Nigeria. We want to get to 75 billion dollars.

rvp2018:
Sounds like bla de bla of a goat. Get us proper stats. My 4B estimate is based on top formal retailers. Biggest in Kenya is Naivas - with 84 stores - they gross about a billion dollars in revenue annually. I am not interested in make belief figures. Jumia entire global operation total sales is less than that...their revenues not even 200m dollars.

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

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 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.

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

Balogunodua:


He is scared of who the most dumb Kenyan on nairaland

obaaderemi:
So how come South African, Egyptian and Nigerian banks are bigger than yours? Since Egypt has 48% and Nigeria has 51%. That means Kenyan accounts are mostly empty.

Wuoche:


For South Africa and Egypt, their citizens disposable income are much higher than Kenya's. Their companies are much bigger than Kenya's. For Nigeria, your two banks are only bigger than Equity and KCB because your government borrows from them.

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. 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.

rvp2018:
US doesnt even do that much online shopping.

Fourpockets:


Unnecessary, but I still understand, yesterday they were talking about how their banks will expand and surpass Nigerian banks... Without also acknowledging that Nigerian banks will also have their own growth. (Like it's only Kenya that is improving, Nigeria is just stagnant, that kind of thing )

rvp2018:
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.

theenchanter:
effect of Mpesa.... Not really the normal bank account but mobile money.

GeneralDae2:

Jumia has it's largest market in Nigeria but there are others. Konga and Jiji are doing well. Jumia may be struggling but it is still by far the largest e-commerce firm in Africa with Nigeria having it's largest market size.
Also 13 billion dollars is not that big. U.S shopping is worth 959 billion dollars in 2021 as you saw.

68816419:

really Nigeria is actually doing well in non-oil sectors

Wuoche:
Kenya's Hospitality industry.