Technology firm, Google, has informed that its 12,000km Equiano subsea Internet cable, which landed in Nigeria in April, will become operational by December.

Google said Equiano is now running through Togo, Nigeria, Namibia and South Africa, and is expected to deliver faster, lower cost Internet to the continent by connecting St. Helena, Togo, Nigeria, Namibia and South Africa with Europe.

The American firm disclosed this, yesterday, at the second Google for Africa event, where it said over 20 per cent of the $1 billion announced, last year, to be spent on the region in the next five years, has been deployed adequately.

https://guardian.ng/technology/googles-equiano-submarine-cable-begins-operation-in-nigeria-by-december/

Foreign aid - grants - should be 1% or less. I hope you're not confusing it with A-I-A (Appropriation in Aid).
You see kenya is very progressive country - when we face problem - we reform and fix them.
In 1990s Foreign Aid was almost 60% of our budget - some countries were doing 99%. It was also main source of forex
So in 1993s all the donors met and decided to cut Aid - on the same day - because Moi mass human right violation (ethnic killings, torture)
So immediately our economy crashed - we had our only first and only hyper-inflation - Kshs dropped from 20 to dollar to 60 to a dollar.
Bread moved from being 2shs to 10shs. Everything went haywire. People savings were wipped out.

Suffice to say some countries like Ghana and Nigeria such nightmares are normal. 1993 was first and last hyperinflation in kenya - we lost a decade - though the hyperinflation lasted six months. Ghana and Nigeria ohoo boy - right now Ghana is in hyperinflation already.

Anyway we had start-stop donor aid flow and cut - as western nations - pushed Moi to accept democracy
But out of it - we started dealing seriously with donor dependence.

We formed KRA - we started to aggressively collect taxes - and by time Moi was leaving donor dependence had dropped from 60% to 10%.

Kibaki regime took from 10% to 2%.

Now it's less than 1 percent. We collect taxes plus A-I-A - and finance our development, social investment and are doing way better than Nigeria the zoo can imagine.

obaaderemi:
You are hurting hence the insults. How much of your budget is aid? Not to talk of borrowing.

This was 1999 - you were 30 percent dependant on Aid.
I bet nothing much has change.

Only Rwanda after it was frozen from donor funding few years ago have agressively improve domestic revenue generation and are now self -sufficent.

Ghana the IMF colony with George Walker Bush I bet still budget donor funding.

Just40:
questions that will only yeild you rhetoric

Ghana base rate is 25% - somethings are hard to believe In August, Ghana's consumer price inflation reached its highest level since 2001, accelerating to 33.9% year-on-year from 31.7% in July. Cedis has depreciated by 40% against the dollar - that mean nominal GDP has almost halved to 40B DOLLARS and GDP per capita is now on verge of going to LDC

Ghana Hikes Rates to Highest Level Since 2017 on Inflation Risks
Bank raises rate by 250 bps to 24.5%; survey est. was 23.5%
Inflation in Ghana accelerating at fastest pace in two decades

And they havent revolted

These Ghanians are the most resilient human on earth - suffering and smillings.

GeneralDae2:

Agreed but USA is still not a good model to look up to in terms of debts because they still have it easier than others in terms of debt repayment. Others would have the problem of not being able to print some additional dollars as a last measure.

Correct! Although not the bone of contention, you have just nailed my point.

If you have payment means, why should you criticize debt?
Also, if the debt is catering to indispensable needs, why should you demonize it?

And yes, USA is the best of the yardstick.

USA just like any other country still faces the challenge of printing BANKNOTES. Germany did the same during Hitler's regime, and what happened to Germany's currency afterward?

rvp2018:
Ghana base rate is 25% - somethings are hard to believe In August, Ghana's consumer price inflation reached its highest level since 2001, accelerating to 33.9% year-on-year from 31.7% in July. Cedis has depreciated by 40% against the dollar - that mean nominal GDP has almost halved to 40B DOLLARS and GDP per capita is now on verge of going to LDC

Ghana Hikes Rates to Highest Level Since 2017 on Inflation Risks
Bank raises rate by 250 bps to 24.5%; survey est. was 23.5%
Inflation in Ghana accelerating at fastest pace in two decades

And they havent revolted

These Ghanians are the most resilient human on earth - suffering and smillings.

That is terrible.

The next Zimbabwe in making.

Now all the money is on her to go Zim way.

From Twitter.
Ghana's economy is going down the tubes. Since January 1st, 2020, the cedi has depreciated ∼45% against the USD. According to Bloomberg, Ghana is the SECOND most likely country to default on its debt.

Their bonds are now rated JUNK ->Ghana's risk of default increases as Moody downgrades economy to Caa2.

>>>>However painful, we've got to accept the proposed Domestic Debt Restructuring (DDR) which is simply Cedi Debt default by Ghana Govt.
Without the DDR we cannot reach a deal with the IMF. Then, the future would be really dark.

Shma2022:

That is terrible.

The next Zimbabwe in making.

rvp2018:
This was 1999 - you were 30 percent dependant on Aid.
I bet nothing much has change.

Only Rwanda after it was frozen from donor funding few years ago have agressively improve domestic revenue generation and are now self -sufficent.

Ghana the IMF colony with George Walker Bush I bet still budget donor funding.

Yeah 30 years ago...

The fact remains that Ghana govt has funded it budget entirely by it tax revenue for the last 20 years while Kenya is still dependent on donors funding it budget even today as we speak.

15% of Kenya budget today is still funded by donors, if water will flow to your house, it depends on donors fun likewise if hospitals will keep running in your country or sanitation services
It's 2022, Kenya need to stand on it two feets

Actually, you have bigger problems than pride. You're about to go into a crisis that will take 10yrs minimum to fix.

Just40:
Yeah 30 years ago...

The fact remains that Ghana govt has funded it budget entirely by it tax revenue for the last 20 years while Kenya is still dependent on donors funding it budget even today as we speak.

15% of Kenya budget today is still funded by donors, if water will flow to your house, it depends on donors fun likewise if hospitals will keep running in your country or sanitation services
It's 2022, Kenya need to stand on it two feets

rvp2018:
Ghana base rate is 25% - somethings are hard to believe In August, Ghana's consumer price inflation reached its highest level since 2001, accelerating to 33.9% year-on-year from 31.7% in July. Cedis has depreciated by 40% against the dollar - that mean nominal GDP has almost halved to 40B DOLLARS and GDP per capita is now on verge of going to LDC

Ghana Hikes Rates to Highest Level Since 2017 on Inflation Risks
Bank raises rate by 250 bps to 24.5%; survey est. was 23.5%
Inflation in Ghana accelerating at fastest pace in two decades

And they havent revolted

These Ghanians are the most resilient human on earth - suffering and smillings.

Thanks that you have little knowledge of economics and how things work..

You had this same Convo with the south Africans and we all educated you here on how things work..

Anyway, by the close of year, Ghana's GDP will be at 90 billion dollars.

Kenya is still struggling to pick up it per Capita from the LDC limite of 1800 dollars ... Atleast work hard.

Madness one. Your country is going to the dogs.Soon you wont afford to buy bread

Just40:
Thanks that you have little knowledge of economics and how things work..

You had this same Convo with the south Africans and we all educated you here on how things work..

Anyway, by the close of year, Ghana's GDP will be at 90 billion dollars.

Kenya is still struggling to pick up it per Capita from the LDC limite of 1800 dollars ... Atleast work hard.

rvp2018:
Actually, you have bigger problems than pride. You're about to go into a crisis that will take 10yrs minimum to fix.

Not really so... We are not Kenya

Maximum it will take is Two years for us to resolve our current challenges and while at it , we don't have to suspend development like Kenya that have no fiscal space to carry out development for the next 5 years.


By the end of your t years freeze on development, more Kenyans would have dropped even further into deeper poverty.

Get a grip of yourself mad man and take your med.

Just40:
Not really so... We are not Kenya

Maximum it will take is Two years for us to resolve our current challenges and while at it , we don't have to suspend development like Kenya that have no fiscal space to carry out development for the next 5 years.


By the end of your t years freeze on development, more Kenyans would have dropped even further into deeper poverty.

[quote author=rvp2018 post=117347662][/quote]

Liar. Safaricom got Ethiopian license on 8th June 2021. The event was witnessed by Uhuru Kenyatta and Abey.

rvp2018:
Madness one. Your country is going to the dogs.Soon you wont afford to buy bread

I know what your tantrums look like... Better start facing your realities than screaming your usual madness here.


Kenya has been in the dogs for w years now.... Have you wondered why your poverty has increased by 10% and the reason why the number of starving Kenyans has hit 12 million?

The Ghanaian economy is far resilient such that even in the face of difficulties, it still provide transformational growth for each and every Ghanaian to rise on the economic ladder as was shown on our latest living standard report.

Not the Mpesa license. I was involved with some Ethiopians two years ago on trying to get into that space but they banned foreigners from mobile money. I am not sure what concession Ruto gave Ethiopia - but Safaricom finally got the Mpesa license.


Kenyan Wallstreet
@kenyanwalstreet
·
20h
BREAKING:

Ethiopia’s Minister of Finance announces that Safaricom Ethiopia have been granted a mobile money license to operate MPESA in Ethiopia.
Zemedeneh Negatu
@Zemedeneh
·
8h
Big positive rapid changes happening in #Ethiopia’s telecom & financial services sectors.

Safaricom granted license to offer mobile money (Mpesa) services (video). It’ll compete with EthioTelecom’s new Telebirr which signed 23 million+ subscribers in less than 1 year.

Wuoche:


Liar. Safaricom got Ethiopian license on 8th June 2021. The event was witnessed by Uhuru Kenyatta and Abey.

Madman - your economy is GONE. You have overtake main Zoo Nigeria - to become the ULTIMATE ZOO!!!!!!!!!!!!!!! Now wonder Nigeria Intituiton is not to take Ghana seriously - it's like tanzania to kenya - we know by default they are retarded.


(Ecofin Agency) - Ghana’s debt could rise by 26% to 104% of GDP this year -due notably to a strong depreciation of the Cedi, which is one of the worst performing currencies in the world currently. Also, there is news about a new economic program being negotiated with the IMF. In that light, the main fear now conveyed by Moody’s and similar rating agencies is the idea of a debt restructuring, which they assimilate with a debt default.

After Fitch, Moody's also downgraded Ghana's credit ratings, fearing a public debt restructuring with the country getting into advanced discussions with the IMF, its last chance to contain rampant inflation, which is seriously affecting Cedi, the national currency.

Concerned that the ongoing negotiations between the government and the IMF could lead to a financing program that would include a request for the restructuring of public debt, the rating agency decided to downgrade the long-term issuer rating and senior unsecured debt from Caa1 to Caa2 (highly Speculative Category). [/b]The agency warned that the country has been placed[b] “on review for downgrade.”

"Such a restructuring would likely be considered a distressed exchange and thereby a default under the rating agency’s definition," explained Moody's whose rating actions (along with its peers), are increasingly contested in Africa.

Just40:
I know what your tantrums look like... Better start facing your realities than screaming your usual madness here.


Kenya has been in the dogs for w years now.... Have you wondered why your poverty has increased by 10% and the reason why the number of starving Kenyans has hit 12 million?

The Ghanaian economy is far resilient such that even in the face of difficulties, it still provide transformational growth for each and every Ghanaian to rise on the economic ladder as was shown on our latest living standard report.

rvp2018:
Get a grip of yourself mad man and take your med.

tantrums of a dumb guy whose country is deteriorating right before his own eyes...


How do you live in a country where only 9% of houses are connected to pipe water and only 9% are connected to sewage while the rest rely on pit lattrines and dug out as well as open defecation?

How do you manage with 45% of your people living in shacks doing hand to mouth ?

rvp2018:
Madman - your economy is GONE. You have overtake main Zoo Nigeria - to become the ULTIMATE ZOO!!!!!!!!!!!!!!! Now wonder Nigeria Intituiton is not to take Ghana seriously - it's like tanzania to kenya - we know by default they are retarded.


(Ecofin Agency) - Ghana’s debt could rise by 26% to 104% of GDP this year -due notably to a strong depreciation of the Cedi, which is one of the worst performing currencies in the world currently. Also, there is news about a new economic program being negotiated with the IMF. In that light, the main fear now conveyed by Moody’s and similar rating agencies is the idea of a debt restructuring, which they assimilate with a debt default.

After Fitch, Moody's also downgraded Ghana's credit ratings, fearing a public debt restructuring with the country getting into advanced discussions with the IMF, its last chance to contain rampant inflation, which is seriously affecting Cedi, the national currency.

Concerned that the ongoing negotiations between the government and the IMF could lead to a financing program that would include a request for the restructuring of public debt, the rating agency decided to downgrade the long-term issuer rating and senior unsecured debt from Caa1 to Caa2 (highly Speculative Category). [/b]The agency warned that the country has been placed[b] “on review for downgrade.”

"Such a restructuring would likely be considered a distressed exchange and thereby a default under the rating agency’s definition," explained Moody's whose rating actions (along with its peers), are increasingly contested in Africa.

fortunately Ghana debt to GDP has now dropped to 68%

Focus on your Zim like economy. Soon you'll need a wheelbarrow to carry cedis to buy bread.

The cedi is the worse performing currency in the whole world next only to Elsavador.
Cedi depreciatn is the worse in world.
Ghana's infln is the highest in Africa.
Ghana's debt rating is worse in Africa.
Ghana is on the brink of default.
Is ghana the only country in the world

Just40:
tantrums of a dumb guy whose country is deteriorating right before his own eyes...


How do you live in a country where only 9% of houses are connected to pipe water and only 9% are connected to sewage while the rest rely on pit lattrines and dug out as well as open defecation?

How do you manage with 45% of your people living in shacks doing hand to mouth ?

Not when you took lots of foreign debt - in dollars. Your foreign debt has increased by 40% thanks to CEDIS depreciation. You're going to a very very BAD PLACE. Wait for the chain catalytic atomic reaction to a DEFAULT. Ask Sri Lanka for lessons. Soon buying a bread will become impossible - as dollars will evaporate - you'll resort to full time hunting of cane rats for survival

Just40:
fortunately Ghana debt to GDP has now dropped to 68%

rvp2018:
Focus on your Zim like economy. Soon you'll need a wheelbarrow to carry cedis to buy bread.

The cedi is the worse performing currency in the whole world next only to Elsavador.
Cedi depreciatn is the worse in world.
Ghana's infln is the highest in Africa.
Ghana's debt rating is worse in Africa.
Ghana is on the brink of default.
Is ghana the only country in the world

I'm focused on the real living conditions of the citizens since that is what indicates the real power of the economy.

What can of life an economy that only connect 50% of it population to electricity in the 21st century provide for it people.?
What kind of life does it provide when 45% of it people sleep in dusty shacks?
What life does it provide when 25% do open defecation?



Ghana debt to GDP is at a lower 68% which is lower than that of Kenya.
Ghana Cedi is a free floating currency which makes it better at insulating the economy especially for a going export dependent economy. T[b]he Kenyan economy is a heavily import dependent one with a managed currency which can't has failed at protecting your economy hence the 24 IMF bailout[/b] without it, there will be a greater starvation disaster on your hand than you currently have because then Kenyan populis are too lazy to be able to weather that base on pure economic engagement.

Focus on your debt default. Not diversionary tactics madman.

Just40:
I'm focused on the real living conditions of the citizens since that is what indicates the real power of the economy.

What can of life an economy that only connect 50% of it population to electricity in the 21st century provide for it people.?
What kind of life does it provide when 45% of it people sleep in dusty shacks?
What life does it provide when 25% do open defecation?



Ghana debt to GDP is at a lower 68% which is lower than that of Kenya.
Ghana Cedi is a free floating currency which makes it better at insulating the economy especially for a going export dependent economy. T[b]he Kenyan economy is a heavily import dependent one with a managed currency which can't has failed at protecting your economy hence the 24 IMF bailout[/b] without it, there will be a greater starvation disaster on your hand than you currently have because then Kenyan populis are too lazy to be able to weather that base on pure economic engagement.

rvp2018:
Now all the money is on her to go Zim way.

From Twitter.
Ghana's economy is going down the tubes. Since January 1st, 2020, the cedi has depreciated ∼45% against the USD. According to Bloomberg, Ghana is the SECOND most likely country to default on its debt.

Their bonds are now rated JUNK ->Ghana's risk of default increases as Moody downgrades economy to Caa2.

>>>>However painful, we've got to accept the proposed Domestic Debt Restructuring (DDR) which is simply Cedi Debt default by Ghana Govt.
Without the DDR we cannot reach a deal with the IMF. Then, the future would be really dark.

This a serious economic crisis. I don't see any comeback soon. .,

Just read that their currency has been in depreciation mode for a whopping 15 weeks non-stop, and still no signs of relief.

Also, the world's worst-performing currency at the moment, slightly ahead of Sri Lanka's rupee.

Lemme not laugh ... But no, oooh nooo... Pwahahahhaaaaaaàa .... I can't.

rvp2018:
Not when you took lots of foreign debt - in dollars. Your foreign debt has increased by 40% thanks to CEDIS depreciation. You're going to a very very BAD PLACE. Wait for the chain catalytic atomic reaction to a DEFAULT. Ask Sri Lanka for lessons. Soon buying a bread will become impossible - as dollars will evaporate - you'll resort to full time hunting of cane rats for survival

foreign debt constitute less than 45% of our total debt.

Fortunately for Ghana, a default like Kenyan has had over the last four years which has led to constant restructuring of your debt is not possible here.
The kind that has led you into two IMF bailout in the space of just 12 months without which your peanut economy would have cascaded Into Bater trading.

Over the cause of 6 months, 3 billion dollars has dropped into Ghanaian coffers which just proceeds from oil and cocoa that has not yet been invested .. that alone is enough to pay Ghana's debt interest and amortization..

Your country does not have that so it is currently relying on IMF 2.3 billion dollars as budget support and wage payment while it's forfill it obligation to it debt providers using 74% of revenue.
Next year will even be worse for you

Just40:
I'm focused on the real living conditions of the citizens since that is what indicates the real power of the economy.

What can of life an economy that only connect 50% of it population to electricity in the 21st century provide for it people.?
What kind of life does it provide when 45% of it people sleep in dusty shacks?
What life does it provide when 25% do open defecation?



Ghana debt to GDP is at a lower 68% which is lower than that of Kenya.
Ghana Cedi is a free floating currency which makes it better at insulating the economy especially for a going export dependent economy. T[b]he Kenyan economy is a heavily import dependent one with a managed currency which can't has failed at protecting your economy hence the 24 IMF bailout[/b] without it, there will be a greater starvation disaster on your hand than you currently have because then Kenyan populis are too lazy to be able to weather that base on pure economic engagement.

Zimbabwe man. How do you survive with cedis

rvp2018:
Focus on your debt default. Not diversionary tactics madman.

crazy boy...
Debt default ain't possible here ..... Don't think every economy is weak like the Kenyan economy that has been defaulting on it debt obligation leading to several restructuring to make it easier for you to pay..

Even after that, you ended up with two IMF program to the tune of almost 6 billion dollars.
How is that working out? We've not even began to talk about it ramifications

Just40:
foreign debt constitute less than 45% of our total debt.

Fortunately for Ghana, a default like Kenyan has had over the last four years which has led to constant restructuring of your debt is not possible here.
The kind that has led you into two IMF bailout in the space of just 12 months without which your peanut economy would have cascaded Into Bater trading.

Over the cause of 6 months, 3 billion dollars has dropped into Ghanaian coffers which just proceeds from oil and cocoa that has not yet been invested .. that alone is enough to pay Ghana's debt interest and amortization..

Your country does not have that so it is currently relying on IMF 2.3 billion dollars as budget support and wage payment while it's forfill it obligation to it debt providers using 74% of revenue.
Next year will even be worse for you

Wrong, foreign debt constitutes 86% of your debt.

You have drawn more money from the IMF than Kenya.

You have more outstanding IMF debt as compared to Kenya.

You have gold, and that makes me wonder how you guys manage your zoo!!

Shma2022:

Zimbabwe man. How do you survive with cedis

Kenya entered the Zimbabwe mode 4 years ago when it defaulted on it loan obligations and now under 6 billion IMF double package.

Ghana has almost already whethered it storm with debt to GDP at 68% without at default.

Just40:
crazy boy...
Debt default ain't possible here ..... Don't think every economy is weak like the Kenyan economy that has been defaulting on it debt obligation leading to several restructuring to make it easier for you to pay..

Even after that, you ended up with two IMF program to the tune of almost 6 billion dollars.
How is that working out? We've not even began to talk about it ramifications

The emboldened are lies. Don't cry. We gave you correct information. Don't be desperate to post rumours.

Just40:

Kenya entered the Zimbabwe mode 4 years ago when it defaulted on it loan obligations and now under 6 billion IMF double package.

Ghana has almost already whethered it storm with debt to GDP at 68% without at default.

Your debt to gdp is 86%

Zimbabwe man.

Rvp... As you thought you've seen it all.

BooM!!!

Ghana debt to gdp to hit 104%

This is the latest WB data.

https://www.businessghana.com/site/news/business/271892/World-Bank-classifies-Ghana-as-high-debt-distressed-country-Debt-to-GDP-to-hit-104-per-cent#:~:text=The%20World%20Bank%20has%20classified,by%20the%20end%20of%202022.