Mkenya2019:
Very good video of Kagame miracle in Rwanda

https://www.youtube.com/watch?v=SUoi48ztUg8

Mzee, Jana was in Kilimani at a restaurant off Galana Rd. At the next table were some Eri habeshas sitting with what I'd have sworn were 2 Nandis. What raises eyebrows was while they all spoke Tigrinya! I'd have again sworn one of them spoke Nandi, not Kipsigis which to my inexpert ears has significant Nilotic elements.
I asked and they said they were Nara, a small non Semitic group. I googled kidogo and found this and a few pics.

According to the Eritrean government, the Nara are descendants of the first Nilo-Saharan settlers in Eritrea, who had migrated from the Upper Nile area and intermarried with local Pygmy populations. Today, the Nara number around 108,000 individuals. They constitute around 1.5% of the population of Eritrea.

[url][https://en.wikipedia.org/wiki/Nara_people/url]
I'm convinced these are your people! At the time I'd taken my usual but I don't think my observations were off. Ever heard of them?

QuietMynd:
Interesting

African countries are borrowing too much. We are comparing our countries to America and the European countries in term of size of debt against GDP.

We forget that the level of human development in those developed countries is not comparable to what we have here. We borrow money to put up shiny buildings and roads. This is the same way the South American countries and Lebanon started. Now, most of them are struggling. Inflation in Argentina and Lebanon are ridiculous but they're not laughing. In Argentina, old people now forage for food from rubbish bins. Lebanon has become chaotic.

I pity Africa, especially badly run resource poor countries like Kenya.

Yes I'd say Nara and Kunama have similar history to Kalenjin - northern most nilotes - moving out of Kush/Meroe empire around 2000yrs ago - together with breakaway cushites/semites - while main nilotic (like Maasai, Luo) stock remained longer in South sudan until recently

kikuyu1:


Mzee, Jana was in Kilimani at a restaurant off Galana Rd. At the next table were some Eri habeshas sitting with what I'd have sworn were 2 Nandis. What raises eyebrows was while they all spoke Tigrinya! I'd have again sworn one of them spoke Nandi, not Kipsigis which to my inexpert ears has significant Nilotic elements.
I asked and they said they were Nara, a small non Semitic group. I googled kidogo and found this and a few pics.


[url][https://en.wikipedia.org/wiki/Nara_people/url]
I'm convinced these are your people! At the time I'd taken my usual but I don't think my observations were off. Ever heard of them?

Pity Nigeria whose debt servicing ration is already 100% otherwise Kenya is one of Africa most resilient economy with well diversified economy that is impossible to bring down - because it doesnt depend on one or two things. The stats speak for itself - base rate in Kenya is 8%, commercial loans from banks are doing 15%, inflation is 9% - apart from debt to gdp that just is 69% - everything pretty much looks good.

Move on to Ghana - currency has depreciated by 50% - inflation is 40% - base rate is 25% - commercial banks are most likely lending if at all at 35% - considering their own gov wants to default on domestic debt - I think lending has stopped. That is already Lebanon.

obaaderemi:
African countries are borrowing too much. We are comparing our countries to America and the European countries in term of size of debt against GDP.

We forget that the level of human development in those developed countries is not comparable to what we have here. We borrow money to put up shiny buildings and roads. This is the same way the South American countries and Lebanon started. Now, most of them are struggling. Inflation in Argentina and Lebanon are ridiculous but they're not laughing. In Argentina, old people now forage for food from rubbish bins. Lebanon has become chaotic.

I pity Africa, especially badly run resource poor countries like Kenya.

Mkenya2019:
Pity Nigeria whose debt servicing ration is already 100% otherwise Kenya is one of Africa most resilient economy with well diversified economy that is impossible to bring down - because it doesnt depend on one or two things. The stats speak for itself - base rate in Kenya is 8%, commercial loans from banks are doing 15%, inflation is 9% - apart from debt to gdp that just is 69% - everything pretty much looks good.

Move on to Ghana - currency has depreciated by 50% - inflation is 40% - base rate is 25% - commercial banks are most likely lending if at all at 35% - considering their own gov wants to default on domestic debt - I think lending has stopped. That is already Lebanon.

Let me address the bolded once and for all. Most of those debt servicing that made the total debt servicing go above 100% of revenue especially in first quarter 2022 are local debts. Most of the Eurobonds Nigeria took were used to service those local debts acquired over time (especially from the Banks) running even to about a decade ago.

This is why even when it went above 100%, Nigeria could still do the debt servicing with the Eurobonds. A lot of those local debts were also shifted over time as is the culture in Nigeria.

With the Eurobonds and external debts, Nigeria sells crude oil and gas and as at January 2022 had an external reserve of about 41 Billion dollars.

Does Nigeria actually need debt restructuring?
Nigeria is currently not in a debt crisis as most allude to even though the country’s public debt is at an all-time high and the debt service to revenue ratio is sometimes over 100%.

Nigeria’s debt is divided into external and local debt of $40 billion and N26.2 trillion respectively as of June 30th, 2022.
The debts are currently being serviced and are at no risk of default based on current information.
A recent debt sustainability report issued by the Debt Management Office assessed Nigeria’s debt profile and stated it was sustainable based on the following;

Nigeria’s public debt-to-GDP ratio of about 25% is much lower than the 70% recommended for emerging markets.
Nigeria’s pubic debt is mostly made up of its local debt which accounts for 61% of the total debts.
However, it pointed out that risks do exist for external debts if oil revenues fall due to oil price shocks and more recently crude oil theft.
It also pointed out expensive CBN Ways and Means debt as a major concern but can be mitigated if it is restructured for a longer term.
See excerpts from the report

The Public Debt Sustainability Analysis shows that Nigeria’s Total Public Debt is sustainable in the medium-term. The Debt Level and Gross Financing Needs show low risk to debt sustainability as all the debt burden indicators are below the Baseline and Shock scenarios. The Total Public Debt-to-GDP ratio was below the MAC-DSA’s benchmark of 70 percent for the Emerging Markets at 25.5, 26.1 and 25.8 percent in 2021, 2022 and 2023, respectively, and thereafter declined to 23.6 percent in 2026. Similarly, the Gross Financing Needs are high but lower than the MAC-DSA’s benchmark of 15 percent at 3.8, 3.1 and 2.4 percent in 2021, 2022 and 2023, respectively. The financing needs are met by domestic financing through the issuances of FGN securities in the domestic financing market. External financing would be from the concessional and semi-concessional sources, as well as market financing by the issuance of Eurobonds in line with the Nigeria’s Medium-Term Debt Management Strategy, 2020-2023

The Debt Profile, however, shows moderate risk and susceptible to some shocks such as Market Perception, Share of Debt held by Non-Resident and Foreign Currency Denominated Debt, which may undermine debt sustainability in the medium-term. Risk arising from Market Perception measured by Bond Spread at 315 basis points crossed the early warning threshold of 200 basis points, but below the 600 basis points for upper early warning threshold. The issuance of USD4.0 billion Eurobonds in 2021 increased the exposure of the Total Public Debt profile to foreign exchange risk, which is mitigated by the domestic currency denominated debt, which accounted for 61.40 percent of the Total Public Debt as at December 31, 2020. Refinancing risk is minimised by longer maturities of the Eurobonds and the spread of maturities to prevent the bunching of maturities, thus, achieving a smooth redemption profile. Also, the Debt Profile is exposed to risks associated with the volatility of oil prices, as well as enhanced short-term debt vulnerabilities and the cost of debt servicing arising from CBN financing. However, the sustained implementation of economic initiatives and reforms by the Government aimed at stimulating growth and boosting revenue are expected to moderate these shocks and financing pressures in the medium-term. In addition, if the CBN financing through Ways and Means Advances is re-structured into long-term debt

Source: Nairametrics

Nigeria pays debt from revenues - both oil and non-oil (very little it appears)
The 1st charge on revenue is debt - both domestic and external.
Therefore, if you are playing 90% debt servicing ration - it basically mean all the revenues you get - monthly or daily or annually is enough to pay debts.
Then you borrow again to pay salaries and pension - the 2nd charge on gov money.
Then gov has to pay for recurrent expenditures - electricity, tissue paper, rent
The other spendings like development & social spending is discretionary...development only happen when funds become available
It very unlikely Nigeria gov is spending anything on development
What is likely happening - Nigeria gov is running huge arrears of salaries, pension, pending bills to contractors and is completing one project every twenthy years - and growing Julius Berger towns all over - as contractors wait for money to become available.

GeneralDae2:

Let me address the bolded once and for all. Most of those debt servicing that made the total debt servicing go above 100% of revenue especially in first quarter 2022 are local debts. Most of the Eurobonds Nigeria took were used to service those local debts acquired over time (especially from the Banks) running even to about a decade ago.

This is why even when it went above 100%, Nigeria could still do the debt servicing with the Eurobonds. A lot of those local debts were also shifted over time as is the culture in Nigeria.

With the Eurobonds and external debts, Nigeria sells crude oil and gas and as at January 2022 had an external reserve of about 41 Billion dollars.

Does Nigeria actually need debt restructuring?
Nigeria is currently not in a debt crisis as most allude to even though the country’s public debt is at an all-time high and the debt service to revenue ratio is sometimes over 100%.

Nigeria’s debt is divided into external and local debt of $40 billion and N26.2 trillion respectively as of June 30th, 2022.
The debts are currently being serviced and are at no risk of default based on current information.
A recent debt sustainability report issued by the Debt Management Office assessed Nigeria’s debt profile and stated it was sustainable based on the following;

Nigeria’s public debt-to-GDP ratio of about 25% is much lower than the 70% recommended for emerging markets.
Nigeria’s pubic debt is mostly made up of its local debt which accounts for 61% of the total debts.
However, it pointed out that risks do exist for external debts if oil revenues fall due to oil price shocks and more recently crude oil theft.
It also pointed out expensive CBN Ways and Means debt as a major concern but can be mitigated if it is restructured for a longer term.
See excerpts from the report

The Public Debt Sustainability Analysis shows that Nigeria’s Total Public Debt is sustainable in the medium-term. The Debt Level and Gross Financing Needs show low risk to debt sustainability as all the debt burden indicators are below the Baseline and Shock scenarios. The Total Public Debt-to-GDP ratio was below the MAC-DSA’s benchmark of 70 percent for the Emerging Markets at 25.5, 26.1 and 25.8 percent in 2021, 2022 and 2023, respectively, and thereafter declined to 23.6 percent in 2026. Similarly, the Gross Financing Needs are high but lower than the MAC-DSA’s benchmark of 15 percent at 3.8, 3.1 and 2.4 percent in 2021, 2022 and 2023, respectively. The financing needs are met by domestic financing through the issuances of FGN securities in the domestic financing market. External financing would be from the concessional and semi-concessional sources, as well as market financing by the issuance of Eurobonds in line with the Nigeria’s Medium-Term Debt Management Strategy, 2020-2023

The Debt Profile, however, shows moderate risk and susceptible to some shocks such as Market Perception, Share of Debt held by Non-Resident and Foreign Currency Denominated Debt, which may undermine debt sustainability in the medium-term. Risk arising from Market Perception measured by Bond Spread at 315 basis points crossed the early warning threshold of 200 basis points, but below the 600 basis points for upper early warning threshold. The issuance of USD4.0 billion Eurobonds in 2021 increased the exposure of the Total Public Debt profile to foreign exchange risk, which is mitigated by the domestic currency denominated debt, which accounted for 61.40 percent of the Total Public Debt as at December 31, 2020. Refinancing risk is minimised by longer maturities of the Eurobonds and the spread of maturities to prevent the bunching of maturities, thus, achieving a smooth redemption profile. Also, the Debt Profile is exposed to risks associated with the volatility of oil prices, as well as enhanced short-term debt vulnerabilities and the cost of debt servicing arising from CBN financing. However, the sustained implementation of economic initiatives and reforms by the Government aimed at stimulating growth and boosting revenue are expected to moderate these shocks and financing pressures in the medium-term. In addition, if the CBN financing through Ways and Means Advances is re-structured into long-term debt

Source: Nairametrics

Mkenya2019:
Yes I'd say Nara and Kunama have similar history to Kalenjin - northern most nilotes - moving out of Kush/Meroe empire around 2000yrs ago - together with breakaway cushites/semites - while main nilotic (like Maasai, Luo) stock remained longer in South sudan until recently

Whenever you're ready, fafanua zaidi, Mzee! I'm sure there's a LOOONGGGG complicated and fascinating story.

Mkenya2019:
Nigeria pays debt from revenues - both oil and non-oil (very little it appears)
The 1st charge on revenue is debt - both domestic and external.
Therefore, if you are playing 90% debt servicing ration - it basically mean all the revenues you get - monthly or daily or annually is enough to pay debts.
Then you borrow again to pay salaries and pension - the 2nd charge on gov money.
Then gov has to pay for recurrent expenditures - electricity, tissue paper, rent
The other spendings like development & social spending is discretionary.
It very unlikely Nigeria gov is spending anything on development

But Nigeria is actually spending on development. Federal roads are built using the private public partnership program. Federal roads are built by MTN, Glo, Dangote, BUA, NLNG, etc for huge tax cuts. At least 13000km out of 35000km federal roads for now.

The final fall of Kush/Cush empire after successfully attack by the Egyptian led to K/Cushites emigrating in all directions - together with a band of nilotic people - southern ward - somalis/oromos moved together with Kalenjin - in western- the Hausa (cushitic) and Kanuri(nilotic) moved westward - Afar & small band of cushitic moved eastward. The Nubians remain in Sudan & Egypt (real Nubians - not kenya nubian - who are mixed nilotic wastebacket of slaves). Semitic people of Ethiopia - Tigrays and Amharas - never moved much. The semites, cushites, chadic and egyptians were cousins so to speak. There is big debate on nilo-saharan - some says they were one people with Niger-Congo - some says it waste bucket of many tribes- some afro-asaitic.

kikuyu1:


Whenever you're ready, fafanua zaidi, Mzee! I'm sure there's a LOOONGGGG complicated and fascinating story.

You've answered yourself.
Nigeria gov is not building anything.
PPP - means gov contribute land and non-financial stuff - private investor bring their money.
Others you borrow loan - like SGR.
The tax rebate thing - again you dont get the revenues - Dangote has seen you're destroying his business with broken road - so he fixes the road his trucks uses the most and charge it as tax - brilliant for Dangote - and huge mess for rest of the country.
In short your Nigerian gov is so broke I doubt it can pay salaries and pension without borrowing.
Leave alone spend on development.

GeneralDae2:

But Nigeria is actually spending on development. Federal roads are built using the private public partnership program. Federal roads are built by MTN, Glo, Dangote, BUA, NLNG, etc for huge tax cuts. At least 13000km out of 35000km federal roads for now.

Mkenya2019:
You've answered yourself.
Nigeria gov is not building anything.
PPP - means gov contribute land and non-financial stuff - private investor bring their money.
Others you borrow loan - like SGR.
The tax rebate thing - again you dont get the revenues - Dangote has seen you're destroying his business with broken road - so he fixes the road his trucks uses the most and charge it as tax - brilliant for Dangote - and huge mess for rest of the country.
In short your Nigerian gov is so broke I doubt it can pay salaries and pension without borrowing.
Leave alone spend on development.

Worry about your Government. You are borrowing to pay salaries and you are at risk of debt default. This is dangerous given the fact you import a lot and your reserves are not really high.

Sh162.2 billion of borrowed money on operating expenses such as payment of salaries and utilities in breach of the law.
Official records show the government borrowed Sh916.6 billion in the financial year 2021/22, which was Uhuru’s last full fiscal year in office.
The State’s recurrent expenditure has been growing rapidly in recent years due to the accumulation of debt repayments, civil servants’ salaries and wages as well as a growing pension burden.
The government spent Sh162.2 billion of borrowed money on operating expenses such as payment of salaries and utilities in the financial year to June in breach of the law, reflecting a biting cash crunch.

https://nation.africa/kenya/business/state-uses-sh162bn-loan-illegally-on-salaries-utilities-3950530

You are deflecting to kenya.
You are incapable of admitting the dire situation.
Zambia defaulted but elected a very good president -
And he is fixing Zambia - and this year Zambia Kwacha strongest currency - inflation is 9%.
kenya we have problems - we are borderline playing with fire.
Uhuru the drunkard who was in Abuja yesterday in fit of madness and desperation to extend power really messed up.
And thankfully we have elected a good president who has assembled a dream economic team.
We will fix our problems.
We always admit to our problems.
Long before they fester like Nigeria and become impossible to fix.

GeneralDae2:

Worry about your Government. You are borrowing to pay salaries and you are at risk of debt default. This is dangerous given the fact you import a lot and your reserves are not really high.

Sh162.2 billion of borrowed money on operating expenses such as payment of salaries and utilities in breach of the law.
Official records show the government borrowed Sh916.6 billion in the financial year 2021/22, which was Uhuru’s last full fiscal year in office.
The State’s recurrent expenditure has been growing rapidly in recent years due to the accumulation of debt repayments, civil servants’ salaries and wages as well as a growing pension burden.
The government spent Sh162.2 billion of borrowed money on operating expenses such as payment of salaries and utilities in the financial year to June in breach of the law, reflecting a biting cash crunch.

God help South African - Azania is going down - it's becoming a mini nigeria - blackout, crime and of course poverty.

Some scary stats from South Africa. A car is hijacked every 22 minutes, a person is kidnapped every 50 minutes. In 2019/2020, a total of 42,289 rape cases were reported. Meaning, at least 115 people are raped daily in South Africa. How unsafe is South Africa?

Mkenya2019:
You are deflecting to kenya.
You are incapable of admitting the dire situation.
Zambia defaulted but elected a very good president -
And he is fixing Zambia - and this year Zambia Kwacha strongest currency - inflation is 9%.
kenya we have problems - we are borderline playing with fire.
Uhuru the drunkard who was in Abuja yesterday in fit of madness and desperation to extend power really messed up.
And thankfully we have elected a good president who has assembled a dream economic team.
We will fix our problems.
We always admit to our problems.
Long before they fester like Nigeria and become impossible to fix.

Leave Zambia alone. Your are highly indebted and set to default. Using Zambia success to bank your failures is rather stupid.

Focus on dire situation your zoo has found it’s self and stop rope in Zambia’s success. Kenya is Kenya and Zambia is Zambia

President Muhammadu Buhari has assured that the establishment of a National Carrier for Nigeria is at 91 per cent completion, and is expected to commence flight operations before the end of this year.

The president gave the assurance at the 3rd Ministerial Performance Review Retreat on Monday in Abuja.

According to him, the feat is being boosted with the certification of Lagos and Abuja International Airports by the International Civil Aviation Organisation, while Kano and Port Harcourt Airports are undergoing similar certification processes.

The News Agency of Nigeria (NAN) reports that Nigeria Air gulps N14.6billion, under five per cent government’s equity share.
https://www.premiumtimesng.com/news/top-news/560082-buhari-at-ministerial-performance-retreat-says-nigeria-air-to-take-off-in-december.html

obaaderemi:
The first two pictures are definitely from India.

Nop

Mkenya2019:
You are deflecting to kenya.
You are incapable of admitting the dire situation.
Zambia defaulted but elected a very good president -
And he is fixing Zambia - and this year Zambia Kwacha strongest currency - inflation is 9%.
kenya we have problems - we are borderline playing with fire.
Uhuru the drunkard who was in Abuja yesterday in fit of madness and desperation to extend power really messed up.
And thankfully we have elected a good president who has assembled a dream economic team.
We will fix our problems.
We always admit to our problems.
Long before they fester like Nigeria and become impossible to fix.

You seem to understand along with kikuyu1 the story of the migration of African tribes

I'm curious on your what your version is of the Bantu expansion theory.

What empire was built and destroyed to initiate migration on that scale?

They are on a free fall

Please if you want to see how Lagos and Nigeria looks like please watch this video. This video is similar to the suffering and smiling show but it is not from me.. you can see the real poverty and hunger in Nigeria watch the first video and watch the second video
You will understand why Nigeria is the poverty and starvation capital of the world



https://www.youtube.com/watch?v=7Xb5bh0Sb2I



https://www.youtube.com/watch?v=bw2-GxQa_EM

samorobo:
President Muhammadu Buhari has assured that the establishment of a National Carrier for Nigeria is at 91 per cent completion, and is expected to commence flight operations before the end of this year.

The president gave the assurance at the 3rd Ministerial Performance Review Retreat on Monday in Abuja.

According to him, the feat is being boosted with the certification of Lagos and Abuja International Airports by the International Civil Aviation Organisation, while Kano and Port Harcourt Airports are undergoing similar certification processes.

The News Agency of Nigeria (NAN) reports that Nigeria Air gulps N14.6billion, under five per cent government’s equity share.
https://www.premiumtimesng.com/news/top-news/560082-buhari-at-ministerial-performance-retreat-says-nigeria-air-to-take-off-in-december.html

Since 2001 I have been hearing about Nigerian air the government just uses it to make noise. How do you start the same airline when the old one is owing 4 billion US dollar and has not been cleared debt. Let me explain something to you. What killed the old Nigerian Airways was it the rate of deportation. Who will travel on an airline when majority of the people will be deported

Wuoche:
They are on a free fall

Ghana cedi is in a much better situation look at the naira the Naira has devalued by 600% in the last 10 years

Wuoche:
They are on a free fall

Kenyan shilling is doing well.

theenchanter:
Kenyan shilling is doing well.

Kshs is doing 9% depreciation against the dollar..the worst but better than many in Africa..up from usual 2-3% depreciation - Ghana will close the year at 100% depreciation while naira black market rate is close to 800 to a dollar.

rvp2018:
Kshs is doing 9% depreciation against the dollar..the worst but better than many in Africa..up from usual 2-3% depreciation - Ghana will close the year at 100% depreciation while naira black market rate is close to 800 to a dollar.

why the rant? I only gave a dose of ur guy's pill to him.

Shma2022:

Now, these have killed me. Extremely breathtaking.

You are a cheat, stop posting pics of buildings and show us the true Nairobi infrastructure.

ProblemChild1:
I went to reload more pictures. Be calming down ma gee

We need to start editing pictures of Nigerian cities by adding a lot of highlight and saturation the way this little Indians do.


Think about it, there is nothing breathtaking about their cities aside the too much edit.

Mkenya2019:
God help South African - Azania is going down - it's becoming a mini nigeria - blackout, crime and of course poverty.

Some scary stats from South Africa. A car is hijacked every 22 minutes, a person is kidnapped every 50 minutes. In 2019/2020, a total of 42,289 rape cases were reported. Meaning, at least 115 people are raped daily in South Africa. How unsafe is South Africa?

But we see Alot of Kenyans claiming they want to reach SA levels in 10 years time,for them,SA is their role model.

rvp2018:
Kshs is doing 9% depreciation against the dollar..the worst but better than many in Africa..up from usual 2-3% depreciation - Ghana will close the year at 100% depreciation while naira black market rate is close to 800 to a dollar.

What helps kenya is availability of cheap foodstuffs from Tanzania. You import cheaper while those west African nations pays huge monies for imports hence their currencies are nosediving.If Tz closes the borders,your currency will be worse than anybody's

All these fake economies will go srilanka route unless Ukraine war ends very soon.

Africa

rvp2018:
Kshs is doing 9% depreciation against the dollar..the worst but better than many in Africa..up from usual 2-3% depreciation - Ghana will close the year at 100% depreciation while naira black market rate is close to 800 to a dollar.

Who asked you for explanation?

We all know Kenya shilling is the strongest and best performing currency in Africa right now OR na lie?

Tanzania
Another public health facility added at mloganzila

Tanzania tztztz
We added another bus terminal in Mwanza city