popizaino:


True that.

it played a critical role in Ghana's last two elections by getting a lot of people to shy away from voting or voting for the NDC and now the tide has turned.

Just30:
it played a critical role in Ghana's last two elections by getting a lot of people to shy away from voting or voting for the NDC and now the tide has turned.

what is your take this Saturday. I mean your best guess

GeneralDae:

Ruto is not bad from what I’ve seen so far. I think for the likes of Obiano, it’s more about politics than anything else. All the indices for Kenya this year look better than they were in 2023. Inflation, Exchange rate, Stock Market, name it.

Exactly. If only Nigeria could also find a way to bring down inflation and the exchange rate

Obaaderemi2:
Exactly. If only Nigeria could also find a way to bring down inflation and the exchange rate

Five major indices I look out for:

Inflation
Exchange rate
GDP growth
Employment numbers
Debt Sustainability

The first two are very important.

vaxx:
what is your take this Saturday. I mean your best guess

NDC will win unless they themselves lose guard for the NPP to do their usual nonsense.

Kenyans ending up on Ghana national service scheme.

Someone managed to get away with 28 million cedis each year for the last 3 years of adding 40,000 ghost names yearly

Just30:
NDC will win unless they themselves lose guard for the NPP to do their usual nonsense.

All hands across.

GeneralDae:

Those bills should have been passed since like yesterday with probably some few touches here and there. A proper simulation of how it would be implemented is needed as well as the VAT sharing and the results for all states.

60% derivation for states is a good one.

Left to me I will make states and local govt keeps 95%
Even the remaining 5% should be like a tax to the fed govt.
That's how a govt should work.
Funny things is if we re to practice true federalism which is impossible due to the type of knuckle heads we have as leaders in this country. Resource control should have been the main topic in discuss not consumption tax.
Consumption tax should have been sorted out before independence.
Majority of the Revenue from resources mined in the country should be going to the local govt which the operation takes place.
Only a small percentage should be going to the federal govt as tax.
All I know is, it will be hard for any country to succeed with this type of leaders we have.
They prefer this current type of feeding bottle Revenue disbursement since it is stress free with less hassle.
No competition, no creativity always vibes and insha allah.
Why won't they always waste resources when they never worked for it nd they never envisioned this current arrangement ending anytime soon.
So one crazy govt won't be breaking beer bottle while also collecting tax from the same beer from other state, it is absurd 😡.
I love the personal income taxation also, I think this one is the real reason politician re all up in arms against the fed govt.
Imagine earning above 25m and paying 23% of it as tax to the govt. He sweet me die, who earns that much as income tax if not the govt official and some multinationals CEOs.
I don't know why some ignorant poor people re letting all this overfed feudalist we call politicians lie to them that they re fighting for the poor.
They all fighting for their pocket.

QuietMynd:

Left to me I will make states and local govt keeps 95%
Even the remaining 5% should be like a tax to the fed govt.
That's how a govt should work.
Funny things is if we re to practice true federalism which is impossible due to the type of knuckle heads we have as leaders in this country. Resource control should have been the main topic in discuss not consumption tax.
Consumption tax should have been sorted out before independence.
Majority of the Revenue from resources mined in the country should be going to the local govt which the operation takes place.
Only a small percentage should be going to the federal govt as tax.
All I know is, it will be hard for any country to succeed with this type of leaders we have.
They prefer this current type of feeding bottle Revenue disbursement since it is stress free with less hassle.
No competition, no creativity always vibes and insha allah.
Why won't they always waste resources when they never worked for it nd they never envisioned this current arrangement ending anytime soon.
So one crazy govt won't be breaking beer bottle while also collecting tax from the same beer from other state, it is absurd 😡.
I love the personal income taxation also, I think this one is the real reason politician re all up in arms against the fed govt.
Imagine earning above 25m and paying 23% of it as tax to the govt. He sweet me die, who earns that much as income tax if not the govt official and some multinationals CEOs.
I don't know why some ignorant poor people re letting all this overfed feudalist we call politicians lie to them that they re fighting for the poor.
They all fighting for their pocket.

the reason some senators (esp from the core northern states) are against it isn't because of personal income tax, they're against it because there's a reduction in percentage of revenue shared to states on the basis of population.😂

Look, I've studied the new tax reform so well, and I'll tell u that it's a master stroke from the president, anyone without bias will also agree it's a good reform.

Those against it are only angry that 60% of the derivation will be given to states where it's generated and 20% will be shared equally to all while the remaining 20% will be shared by population.... Unlike how it is currently shared.

NBO

theenchanter:
the reason some senators (esp from the core northern states) are against it isn't because of personal income tax, they're against it because there's a reduction in percentage of revenue shared to states on the basis of population.😂

Look, I've studied the new tax reform so well, and I'll tell u that it's a master stroke from the president, anyone without bias will also agree it's a good reform.

Those against it are only angry that 60% of the derivation will be given to states where it's generated and 20% will be shared equally to all while the remaining 20% will be shared by population.... Unlike how it is currently shared.

Imagine they shared 5 Billion naira VAT to you as a Governor currently mostly based on just equity and population while the economic activities and contributions from your state are next to nothing.
But then you see that with this new reform you would now get just 1 Billion naira share down from 5 Billion. Of course you would kick against it. It’s normal.

But this presents a good opportunity for those kind of states to sit up, fight insecurity in their states and ensure productivity and high consumption in those states. The president and his team did well on this one and the fact that it is so controversial means it is truly a big change and uncomfortable for many of these Governors and political elites who love the status quo.

GeneralDae:

Imagine they shared 5 Billion naira VAT to you as a Governor currently mostly based on just equity and population while the economic activities and contributions from your state are next to nothing.
But then you see that with this new reform you would now get just 1 Billion naira share down from 5 Billion. Of course you would kick against it. It’s normal.

But this presents a good opportunity for those kind of states to sit up, fight insecurity in their states and ensure productivity and high consumption in those states. The president and his team did well on this one and the fact that it is so controversial means it is truly a big change and uncomfortable for many of these Governors and political elites who love the status quo.

Exactly.

Even despite most of those money ended up getting looted.
They built couple of flyover, sponser hajj, mass wedding, nd take the remaining to bureau de change to convert to dollars to take out of the country to build skyscrapers in Dubai.
When we speak out about this feudalist type of leaders in Nigeria, some northern youth always think we hate them. Not knowing we re jst concerned nd angry about the abomination going under their nose.
Then we wonder why we spent huge money defending the currency.
Mtchew

What's yall take on the EFEMS system introduced into the FX market by the CBN
I have been looking for a solution like this for the financial market as a whole.

QuietMynd:
What's yall take on the EFEMS system introduced into the FX market by the CBN
I have been looking for a solution like this for the financial market as a whole.

Not as transparent as I would have loved. I would have preferred a platform where all can see live rates and volumes.

GeneralDae:

Ruto is not bad from what I’ve seen so far. I think for the likes of Obiano, it’s more about politics than anything else. All the indices for Kenya this year look better than they were in 2023. Inflation, Exchange rate, Stock Market, name it.

I consider anything you say to be white noise! Totally irrelevant garbage from a monumentally obtuse buffoon! Untill you tell Nigerians GENUINELY why their lives have gotten worse despite the so-called ambitious reforms you remain a fraud and enabler of Nigerians unspeakable suffering. I do understand though that due to the differing standards between our two countries, our BAD president might be your angel!

Obaaderemi2:
Obiano13, if this is true then why do you think Ruto is as bad as you claim?

Inflation in Kenya rarely goes above 7% unless there is a serious drought or a locust invasion. The central bank has always maintained a target of 7.1% since time immemorial. If it goes beyond that it raises alarm. Ruto has not worked any miracles, we just havent had droughts, rains have been massive, and the locusts havent returned. If any of those things were to happen you wouldn't believe the inflation rate because it would hit new highs. The lowest inflation rate we had was 1.85 % in 2007. The difference is the push factors because under Kibaki the inflation was low on account of good micro and macro economic management but under Ruto the lack of money in people's pockets is the main cause. If things continue as they are we might have deflation for the first time. I kid you not! People have no money doctors, businessmen, lecturers, etc. The police Ruto sent to Haiti havent been paid for months to the point that they are tendering their resignations enmasse. Kasongo as usual is threatening them with dismissal and court martial for desertion as if they are supposed to eat Haitian soapstones. This is despite him lying to us, AS USUAL, that he spent 2B for their salaries. That is money stolen, outright. You should thank God Tinubu is an old man he might not have the gusto to steal too much. Here we have to keep our eyes wide open because we elected a young pick pocket. You can search Kenyan police in Haiti submit resignations over pay delays online, I dont want to get banned by the bot for sharing links.

That aside, the Kasongo sequel continues. We are now in Season 2. I remember telling that idiot known as RIP that this will be a multi-round bout and Kasongo will lose each one. Kenyans swore never to bow to tyrants again. Moi got us by the balls for 24 yrs but he will be the last, and that we will ensure!. In just 6 months Ruto has lost the finance bill, his American girlfriend Meg Whittman, Adani scam, the church, and now the judges. The latter have finally spoken after receiving too much backlash from the public for dancing too close to Kasongo for our collective comfort. The syllabus moves too quickly here! Ruto and his minions spent the last six months since the protests hoping the tide would turn in their favor such that reconstituting the electoral commission would pose no danger to them but things have only gotten worse. He had promised to constitute it in 10 days after the demos. THE People now are on the verge of starting large scale demos for him to appoint the electoral commission and because there is nothing he fears like demos these days he is likely to appoint it (you saw how swiftly he cancelled the Adani scam deals). MPs will be recalled without fail, young people will register enmasse just to remove him (remember his biggest achievement as a president is shooting youthful protestors to please white people). These young guys dont forgive man. They cant wait to bury him politically and jail him. His final goose will be cooked in February when Raila the opposition leader turned conman loses his AU bid. Ruto is praying every day that he succeeds because he knows how quickly he will be thrown under the bus if he loses.

And this brings me back to your point about inflation, what are the odds that nearly all Kenyans are cantankerous fools who see no good even when it stares them in the face but one corrupt man with a superhuman capacity for lying is good? What are the odds for instance that all Nigerians think their govt is corrupt except Tinubu and a few guys surrounding him? I dont know if you deal with the kind of shyt we deal with here. After the catholic church refused to take his money Kasongo went ahead and gave money to the Anglicans, Kenya's second largest denomination after the catholics, who obviously refused his blood money. The idiot has spent the last two years looting in preparation for the next election but he has been forced to play his money card earlier than planned due to the prevailing political turmoil, only to realize in horror that people are no longer falling for such cheap low value immorality. He has nothing else to offer in terms of leadership except looted money. He is trying too hard to make the coming election about money because he knows by now no one has as much money as him after all the looting. At this point 99.99 % of the country has agreed that one man cannot hold a country hostage. We only have a few leftover dreamers like RIP who are still clinging on to hope that things might change and that it will be possible to fight the church. We are likely to have an election next year and the kind of defeat Ruto will receive if he is unwise enough to run will be one for the books.


https://www.youtube.com/watch?v=N8Lvr8Zo6RI


https://www.youtube.com/watch?v=ZMP5P9IxcmA

These are ODM (Raila's) MPs patiently and predatorially waiting on the wings like snakes for Raila to lose his AU bid so that they can unseat Ruto. You can see how conveniently he sets the deadline as February, which is the month when the AU elections will take place and they know baba will lose. Bear in mind Raila is the only reason Ruto is in power right now otherwise Kasongo would be in jail. The odds of Raila winning the AU post are next to nothing fyi! Ruto has to pick between reconstituting IEBC at will as soon as possible and see all his compromised MPs ejected and new ones elected who will impeach him as soon as they are sworn in the next few months or do nothing untill deadly protests erupt that will force him to take the same measures. Your guess is as good as mine.


https://www.youtube.com/watch?v=W4T2kY05Pl8?si=29LfjP465DjlHQQI

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GeneralDae:

Not as transparent as I would have loved. I would have preferred a platform where all can see live rates and volumes.

Is it an application/software available for the general public ?
The information I read about the system shows enough transparency for me.
I think Buyer nd seller can see the rate only that users can't see each other personal information unless at the last minute when deal is about to be completed.
And any deal delayed or canceled can't be continued after trading has closed for the day. They will have to initiate a new deal.

QuietMynd:

Is it an application/software available for the general public ?
The information I read about the system shows enough transparency for me.
I think Buyer nd seller can see the rate only that users can't see each other personal information unless at the last minute when deal is about to be completed.
And any deal delayed or canceled can't be continued after trading has closed for the day. They will have to initiate a new deal.

Nice one but how do you see this addressing speculation in the parallel market and especially the crypto market? I think rather than address those markets, what the CBN has done is to create a special kind of market (transparent one) for all interbank rates and big transactions. So when there is liquidity in the Banks, there would be no hiding place and it would be clear for all big market participants to see.

All CBN would have to do from henceforth is monitor EFEMS and ensure there’s enough liquidity in the Banks for authorised dealers and all big players.

Speculators ( mainly small retailers and crypto guys) in the long run may have to either beat them or join them but their speculative actions may not necessarily dictate the direction of the naira with thesame pace as before.

GeneralDae:

Nice one but how do you see this addressing speculation in the parallel market and especially the crypto market? I think rather than address those markets, what the CBN has done is to create a special kind of market (transparent one) for all interbank rates and big transactions. So when there is liquidity in the Banks, there would be no hiding place and it would be clear for all big market participants to see.

All CBN would have to do from henceforth is monitor EFEMS and ensure there’s enough liquidity in the Banks for authorised dealers and all big players.

Speculators ( mainly small retailers and crypto guys) in the long run may have to either beat them or join them but their speculative actions may not necessarily dictate the direction of the naira with thesame pace as before.

Speculation happens everywhere in the forex market only that our people took it to another level. (We too dey overdo).
Why is there Speculation to begin with, Speculation happen due to rumors of shortages of liquidity, jst like any commodity price like fuel.
If there is enough liquidity in the market, no one will increase price when he knows his competitors re ready to take his place.
One of the positive side of Efems system is that it will reduce the black market to the bearest minimum due to low patronage which is a result of majority of dealers moving to the more transparent and easy system enabled by the EFEMS system.
Now the rate the naira will be falling will be minimal unlike before that u will trade at 1k at night and before the next morning u re already seeing 1100. That's 10% loss in a few hours. That's bullshit
No investor will want to bring his hard currency into such economy.
This is one of the reason why investors re very careful before entering our market.
All we need to do is stabilize the market and build investors confidence that our currency is under control and it can't go spiral under our nose like before.
A real currency should only be doing 1k at the lowest and 1,010 at the highest peak of tranding after trading is over it should go back to its normal 1k.
Finally black market can't be eliminated completely because they still get patronage from illegal traders/patronage e.g like people who earns illegally.
For example you won't expect G.guys to take their money to bank or any licensed money market to convert when village people no dey pursue them.
And crypto platform also rely on the black market rate due to the lack of trust in the legal trading platforms like banks.
Alot of manipulation happens in those banks.
It is now that the naira will find the real value since the cbn has taken over the monitoring and administration of the fx market through technology unlike before that banks re the ones quoting price by themselves reason why u will see different rate in different banks. All those re gone through EFEMS.
There is nothing like NAFEX, I&E WINDOW, E.T.C
Everything is now consolidated into one.
Lastly naira at 1700 is not the real value of the currency but rather the price seller re willing to sell even tho the currency is worth less than that.
Same thing they do in the other commodity market telling customers they won't abide to new lower price changes because they bought their stock at higher price and they will need to empty their stock before they start selling at new lower prices.
That's against forex law.

A resounding victory with 2/3rd Majority in Parliament

That is historic

Just30:
A resounding victory with 2/3rd Majority in Parliament

That is historic

though yet to be officially announced.

Ghana election so far is really transparent. Indeed NDC really deserves it . Mahama indeed is a gentle soul

vaxx:
though yet to be officially announced.

Ghana election so far is really transparent. Indeed NDC really deserves it . Mahama indeed is a gentle soul

with this 2/3rd majority, there's a letter to sack the Chief Justice and some judges, heads of the police service and possibly changing the Constitution for good

Indictment of Nana mismanagement.
Well done to Ghanians.
The last regime deserved to be kicked out.

For a regime that declared bankruptcy to front the same finance minister was the height of insolence.

Just30:
A resounding victory with 2/3rd Majority in Parliament

That is historic

rvp2018:
Indictment of Nana mismanagement.
Well done to Ghanians.
The last regime deserved to be kicked out.

For a regime that declared bankruptcy to front the same finance minister was the height of insolence.

it doesn't pay to play with Ghanaians

The mood of Ghanaian right now.


Messiah of infrastructure has come

vaxx:
The mood of Ghanaian right now.


Messiah of infrastructure has come

Congrats.

Travelled 922km across Ghana

This time around we did it but in grand-style

189 Parliamentarians out of 276 wow

The NPP have not seen anything yet, Mahama should show them pepper in the next 4years

vaxx:
The mood of Ghanaian right now.


Messiah of infrastructure has come