rvp20182:
Unemployment is unemployment - it doesnt matter if formal or informal - you're simply asked if you did anything the last few weeks. It appear South Africans just sit and wait for welfare cheque? or depend on parents?

Most of unemployment is on black youths.

Meanwhile foreigners who come to South Africa - hustle - and are the RSA informal economy - Zims & Somalis.

Black South Africa have huge cultural problem - they dont have usual Africa entrepreneurship or informal hustling. The Boer seem to have emasculated South Africans black.

Black South Africans have done better hustling and creating good business than black Kenyans.

Now you can end your typical useless rants ... Kenyans are lazy and with no entrepreneur spirit. They ain't driven

rvp20182:
That was few years ago. I think you're now mostly retreating and divesting.

Again when it comes to Africa countries investing in other Africa countries - Kenya is second to South Africa.

It goes like this

SA
Egypt
Morocco
Algeria
Mauritius

Your next delusional joke

Oho Obaboon this what I wrote in 2019. The resident mad man here was cheering his country to inevitable predictabel collapse - GHANA and GHANIANS


The third question? Why is kenya doing debt-refinancing. This one is the easiest. SO WE DO NOT BECOME ANOTHER GHANA - an IMF colony.

We know at our level of (under) development - a low middle class country - our debt to gdp - should be around 50% - with debt repayments not exceed 30% of the revenues/budget. That is what prudent debt management demands.


So when our debt to gdp started to approach 60% - from around 55% - we stop debt leveraging - and started debt refinancing. Once our GDP grows - and our debt to gdp drop below 50% - we will start debt LEVERAGING (taking in new debt)

debt refinancing is used by many countries including US, China and even private companies
Here is Apple - https://www.cnbc.com/2019/09/08/apple-pockets-cheap-debt-refinancing-heres-the-big-money-lesson.html

What it mean is basically your borrow new loans at better terms - and don't really get the cash - but use the loan to retire the old expensive loans.

One example is our last eurobond..in 2019...we took it and use parts of the proceed to retire the other eurobond.

https://www.businessdailyafrica.com/news/Treasury-gets-Sh125bn-loans-to-refinance-debt/539546-5092412-r8wb35z/index.html

http://www.treasury.go.ke/media-centre/news-updates/608-kenya-successfully-issues-us-dollar-2-1-billion-euro-bond-on-15th-may-2019.html

"We reduced debt by paying off an already existing debt and took a fresh loan; so no change in debt stock to the extent of the maturing loan repaid.

"This is called liability management in international finance circles,” Treasury secretary Henry Rotich told Business Daily.

This what PRUDENT debt MANAGEMENT REALLY IS ALL ABOUT.

“There’s no addition in debt stock,” Dr Sirima told Business Daily. “The whole idea is to manage costs and risks. It is purely a debt management operation.”

We cannot procure new loans like a drunken Ghanian sailor when we are already near the red line (60%) - Ghana plays around 75% (and this year despite rebasing will exceed 60%). That is why IMF is always in Accra because you cannot manage your finances

And you're thinking of borrowing a century bond smiley smiley - how will you repay all those loans!!!!!!!!!!! or you think there are free money out there.

rvp20182:
Obaboon, you are really trying to shine
Let get some facts right.
1) Debt is not a problem. It's a leverage.
2) Uhuru regime in 2013 - inherited debt at very low levels - 40% or so to gdp - with debt servicing at 24% - that is what Kibaki handed him.
3) Uhuru was right to borrow - until 2018/2019 - when we started crossing 50% to debt gdp - 30% debt servicing ratio.
4) From 2018/2019 - I told Uhuru gov to go slow - to switch to debt refinancing or debt management - basically borrow to repay loans.

When it come to Nigeria - you debt problem has always been an issue - delayed salaries and unpaid pension are as old as Nigeria.

Evidence is here in this thread - 2019 this is what I said - way before covid.

When you revert to insults I know you are crying.
You are blaming Uhuru for your woes today, the Ghanaian you always insult and I broke Kenya's debt problem to you for years here only to get insults from you. Now you are roasting Uhuru. At least Uhuru didn't owe salaries.

Now, Nigeria never delayed salaries, that's a Kenyan thing. Now Ruto is overburdening Kenyans with more taxes and removing subsidies, imf scheme.
It's about to get a lot worse for Kenya.

As for Nigeria, we are fixing our refineries and just got a brand new one. There's going to be a freeflow of fuel and there will be export of refined products. It will save us a lot. Then there's a better president coming on board this month. And oil keeps doing well not to forget Nigeria is more of a gas giant than an oil giant.

Again obaboon - I only call you that when you behave like a baboon- you have my attention - let go to this thread - 2019. If you have an English compression problem - I can help.
https://www.nairaland.com/3327789/kenya-ahead-nigeria-all-aspect/5527#83528815

Obaaderemi2:
When you revert to insults I know you are crying.
You are blaming Uhuru for your woes today, the Ghanaian you always insult and I broke Kenya's debt problem to you for years here only to get insults from you. Now you are roasting Uhuru. At least Uhuru didn't owe salaries.

Now, Nigeria never delayed salaries, that's a Kenyan thing. Now Ruto is overburdening Kenyans with more taxes and removing subsidies, imf scheme.
It's about to get a lot worse for Kenya.

As for Nigeria, we are fixing our refineries and just got a brand new one. There's going to be a freeflow of fuel and there will be export of refined products. It will save us a lot. Then there's a better president coming on board this month. And oil keeps doing well not to forget Nigeria is more of a gas giant than an oil giant.

Maybe Mauritus now. Those arab nations dont invest much in SSA.

Just40:
It goes like this

SA
Egypt
Morocco
Algeria
Mauritius

Your next delusional joke

I prefer you tell us about your dwarfs.

Just40:
Black South Africans have done better hustling and creating good business than black Kenyans.

Now you can end your typical useless rants ... Kenyans are lazy and with no entrepreneur spirit. They ain't driven

For Kenya past 3 years, IMF have been busy running the affairs of Kenya with 2 bailouts and the third one is on the way.

The IMF has not been in Accra for the last 5 to 6 years...

Now you can choke of your debt Kenya.. you're broke spending 80% of revenue on debt servicing. That's real crisis

IMF left Ghana in 2019. In 2020 you should have checked yourself into IMF emergency room - even South Africa went to IMF then.

IMF was created for COVID like blow down. Kenya was smart to go to IMF in 2020 after COVID messed up the macro-economics. Now we are out - without defaulting.

Ghana - IMF is coming for 10yrs at minimum.

In 2020 - you were acting smart - running to Eurobond - when kenya was running to IMF. Ohoo our credit rating will take a beating if we go to IMF - now Ghana credit rating is D - DEFUALT. Kenya is B

Just40:
For Kenya past 3 years, IMF have been busy running the affairs of Kenya with 2 bailouts and the third one is on the way.

The IMF has not been in Accra for the last 5 to 6 years...

Now you can choke of your debt Kenya.. you're broke spending 80% of revenue on debt servicing. That's real crisis

rvp20182:
Maybe Mauritus now. Those arab nations dont invest much in SSA.

Keep deceiving yourself

They run some of the largest investment funds on the continent spent on African projects

I listen to data - if I listened to your crazy ideas all these years - I would be as insane as most of your country mate.

Just40:
Keep deceiving yourself

They run some of the largest investment funds on the continent spent on African projects

rvp20182:
I prefer you tell us about your dwarfs.

we shipped them to Kenya and that his how Kenya became a skeletal dwarf nation. You're a specimen

rvp20182:
IMF left Ghana in 2019. In 2020 you should have checked yourself into IMF emergency room - even South Africa went to IMF then.

IMF was created for COVID like blow down. Kenya was smart to go to IMF in 2020 after COVID messed up the macro-economics. Now we are out - without defaulting.

Ghana - IMF is coming for 10yrs at minimum.

In 2020 - you were acting smart - running to Eurobond - when kenya was running to IMF. Ohoo our credit rating will take a beating if we go to IMF - now Ghana credit rating is D - DEFUALT. Kenya is B

No IMF program run for 10 years

COVID did not run your economy down, debt did and it happened before covid.


Kenya has defaulted on so many loans already and the crisis has just begun... Your govt just took 3 billion bailout from the African bank and is waiting on the IMF

From Kenya and Nigeria anecdotal stories - Ghanians are dull, not aggressive, stupid but well peaceful . That I have heard repeated several time by youtubers who have been to Ghana.

The description is very similar to Tanzanian and any country that dabbled in communism before.

At least Nigerians are very aggressive and entrepreneurial - makes the Zoo function despite the dysfunctionality - Somalis are in different class with Eritreans (those are real merchant tribes).

Just40:
we shipped them to Kenya and that his how Kenya became a skeletal dwarf nation. You're a specimen

You will start paying debt in 2027 - and will complete debt restructure in 2037. IMF will be in Ghana for 15yrs - 2037.

When a country default it well known. Even a mad man will know Ghana, Zambia and Ethiopia have defaulted.

Nigeria has not - they have chosen to print Naira and nationalize their debt. They are luckier because unlike stupid Ghana they didnt take lots of external debt.

Just40:
No IMF program run for 10 years

COVID did not run your economy down, debt did and it happened before covid.


Kenya has defaulted on so many loans already and the crisis has just begun... Your govt just took 3 billion bailout from the African bank and is waiting on the IMF

rvp20182:
Again obaboon - I only call you that when you behave like a baboon- you have my attention - let go to this thread - 2019. If you have an English compression problem - I can help.
https://www.nairaland.com/3327789/kenya-ahead-nigeria-all-aspect/5527#83528815

You only get angry when you are losing an argument. Don't cry. Your juvenile insults are water off a duck's back to people like me. I'll continue exposing your ignorance backed by actual cases.
Even on that thread it was clearly pointed out to your illiterate brain that your debt was unsustainable. You chose instead to listen to the imf. The same imf that is well known for wrong analysis. The same imf that didn't see Greece and Argentina happening until too late. Your debt to GDP is already close to 70%. Your keep taking loans to repay loans because your economy is practically too broke to sustain your debt profile.

But then how can you survive without loans when all you have is tea? I said it on that same thread that your leaders are only able to raise revenue by overtaxing Kenya's poor people. Now Ruto has taken that a notch higher yet he is still having problems paying federal government workers. Something that has never happened in Nigeria. Kenya is going to default by 2024. You already defaulted on some loans. Right now you are under the boots of imf.

I cant make head or tail of your response.
IMF and Sane man should come to same conclusion.
IMF staffers are you and me - they are not malevolent forces - but their treatment regime is quite something.
You dont need IMF to tell us common sense.
There was no IMF in Kenya in 2019.

Again first of all dont bring NIgeria into any such macro-economic debate - you country is BIGGGGGGGGGGGGG JOKE.
Debt servicing long exceeded 100%. In 2019 it was 70%.
Nigeria federal gov has printed how many trillion of Naira - 30 trillion - 50B dollars to pay salaries!

Now let move to Kenya.

From 2018/2019 we started to cross the redline - From 55% - but have thankfully kept it 65% - it fluctuate with USD of course.

Kenya gov has bring it down to 55% - and that without debt refinancing.

In 2019 at least we could refinance our debt - that is now out of question - as international debt market is closed for entire Africa continent.

So Kenya gov has only one way out - TAX kenyans - Kenya have to pay through this.

Otherwise if we default - we join GHANA - and we will have to lose a whole decade and half.

Of course if we were a Zoo we can simply print KES like Nigeria - pay salaries and pay domestic debt

We would of course create inflation and poverty like Nigeria has been doing the last decade at INDUSTRIAL SCALE.

Now NIgeria is undisputed world poverty capital.

Obaaderemi2:
You only get angry when you are losing an argument. Don't cry. Your juvenile insults are water off a duck's back to people like me. I'll continue exposing your ignorance backed by actual cases.
Even on that thread it was clearly pointed out to your illiterate brain that your debt was unsustainable. You chose instead to listen to the imf. The same imf that is well known for wrong analysis. The same imf that didn't see Greece and Argentina happening until too late. Your debt to GDP is already close to 70%. Your keep taking loans to repay loans because your economy is practically too broke to sustain your debt profile.

But then how can you survive without loans when all you have is tea? I said it on that same thread that your leaders are only able to raise revenue by overtaxing Kenya's poor people. Now Ruto has taken that a notch higher yet he is still having problems paying federal government workers. Something that has never happened in Nigeria. Kenya is going to default by 2024. You already defaulted on some loans. Right now you are under the boots of imf.

Enugu- Port harcourt Road has been completed .

Owerri, Nigeria

rvp20182:
From Kenya and Nigeria anecdotal stories - Ghanians are dull, not aggressive, stupid but well peaceful . That I have heard repeated several time by youtubers who have been to Ghana.

The description is very similar to Tanzanian and any country that dabbled in communism before.

At least Nigerians are very aggressive and entrepreneurial - makes the Zoo function despite the dysfunctionality - Somalis are in different class with Eritreans (those are real merchant tribes).

You don't have to be aggressive to make it work. The aggressiveness you see in Kenya is a sign of dis-function. From the reports we get from Kenya, Kenyans are lazy, not smart and dull.

Ghanaians are the most entrepreneurial on the continent and kenyans don't come close in the top 10 🤣😂

rvp20182:
You will start paying debt in 2027 - and will complete debt restructure in 2037. IMF will be in Ghana for 15yrs - 2037.

When a country default it well known. Even a mad man will know Ghana, Zambia and Ethiopia have defaulted.

Nigeria has not - they have chosen to print Naira and nationalize their debt. They are luckier because unlike stupid Ghana they didnt take lots of external debt.

We are already paying debt 2.8 billion paid last year and 3.5 billion being paid this year.
Kenya dont have the money to pay so it has sacrificed the 4 months pay of workers.

Kenya is broke and has already defaulted on 6 loans. Ghana hasn't on any

Just40:
No IMF program run for 10 years

COVID did not run your economy down, debt did and it happened before covid.


Kenya has defaulted on so many loans already and the crisis has just begun... Your govt just took 3 billion bailout from the African bank and is waiting on the IMF

Ghana and Zambia are special case; few resolutions for Ghana but pretty much the same pit with debt ridden Zambia ~ IMF.

Date ~ 9th May

I hope this will help.

Kenya is fine.

South Africa collapsing continues-> Railway.

Bright Simons.
That a country's capacity to run railway services tracks its overall modernisation trend is clear in South Africa. Dealing with the effects of apartheid & 1-party rule has slowed down modernisation as a devt path. Predictably, railway use has collapsed in tandem.

From 52 million trips to now 1 million trips

Shma2023:


Ghana and Zambia are special case; few resolutions for Ghana but pretty much the same pit with debt ridden Zambia ~ IMF.

Date ~ 9th May

I hope this will help.

Kenya is more like Zambia .. two countries in serious trouble because of the debt element effect on their revenue.

Of all the countries facing debt issues, Ghana has it best because it borrowed prudently and didn't spend on useless ventures hence debt servicing cost is only 30% of it revenue which is even expected to drop further to 20%(which is close to developed countries level)

Kenya has surpassed Zambia level crisis into the Sri Lanka zone where it is defaulting as well as refusing to pay salaries with no capital investment for the next 5 years.
Waiting for a third IMF bailout straight in 3 years succession.

Just40:
Kenya is more like Zambia .. two countries in serious trouble because of the debt element effect on their revenue.

Of all the countries facing debt issues, Ghana has it best because it borrowed prudently and didn't spend on useless ventures hence debt servicing cost is only 30% of it revenue which is even expected to drop further to 20%(which is close to developed countries level)

Kenya has surpassed Zambia level crisis into the Sri Lanka zone where it is defaulting as well as refusing to pay salaries with no capital investment for the next 5 years.
Waiting for a third IMF bailout straight in 3 years succession.

Go argue with IMF.

Kazikazi:
THE day you reach 12b worthy of real estate, then tag me

Boy, 2017, really! When Kenya's real estate value had gone by 5yrs low!

Bring your data now.
https://furtherafrica.com/2023/02/22/kenyas-real-estate-makes-a-comeback-following-two-year-slump/


First thing first:

What is far Gross rental yield in 2023 vs Nairobi's? Don't worry... It's light years ahead.

Dar population is 14 Million.

Shma2023:


Go argue with IMF.

The IMF just told you Ghana has the least problems of all of you and you're still arguing

Sorry that Ghana is not joining Kenya in that debt misery

Kenya should focus on paying workers 4 months salaries and allow the kshs to find it level instead of managing it.
That only make the situation worse

Just40:
It goes like this

SA
Egypt
Morocco
Algeria
Mauritius

Your next delusional joke

😂 😂

No Ghana? Stop kissing everyone's @ss dwarf.

Just40:
The IMF just told you Ghana has the least problems of all of you and you're still arguing

Sorry that Ghana is not joining Kenya in that debt misery

Kenya should focus on paying workers 4 months salaries and allow the kshs to find it level instead of managing it.
That only make the situation worse

Ghana defaulted on it's debt obligations. You are a poster child of financial incompetence. Hobbit.

Ridge


https://www.youtube.com/watch?v=YyMx-zVtezU