Daejoyoung:

Aside the USA and China, Nigerians are the largest investors in Ghana, the Ghanians themselves can't deny this. Not just in Ghana, Nigeria has more of her investments all over West Africa than any other region even with the French barrier in 80% of West Africa.

Danielnino00:



The city is already operating at 25% capacity... offices spaces are already been sold out and events hosted there.... By 2030,it should be 80% ..


Remember when the Kenyans in their weak attempt to mock EAC said the city was building one skyscraper per year...lol

gallivant:


Where are you getting your numbers from? Numbers are absolute, stop lying to Nigerians please. Allow more qualified people on the subject.

Danielnino00:



Ghanaians are one of the most ungrateful backbiters in the world....

I can understand why the Kenyans are trying to drag matters with us... but a country like Ghana that has been,and is still feeding from Nigeria since independence shouldn't be trying to form big bros... At least the Kenyans have enough decency to limit their blabbering to this thread but the Ghanaians don't.. a lot of them are all over nairaland searching for Ghana related posts so they can pour their flirt into it..
A country that's owing us money.. a country whose entertainment industry is dependent on us... A country where Nigeria business has significant presence in almost all sectors.. A country where it's Presidents visit Nigeria annually to ask for money...

NairobiWalker:


Stop being an Idiot, Ghana is a sovereign country standing on its on. You're stupid if you believe what you said anyway - how can someone feed from you and become better than you?

Daejoyoung:

Don't be foolish, read this from Ghanians themselves..


[b]Nigeria topped the list of countries with the largest value of investments registered, whiles China continues its market aggression on the continent, commanding the top position of countries with the highest number of projects registered in the country. The Nigeria business interest in Ghana spread across different sectors of the economy. These include areas like Banking, Insurance, Telecoms, Oil and Gas, Trade and Commerce, Manufacturing, Aviation, ICT, Eateries, Churches and Hospitality businesses. In addition to these sectors we have a huge population of Nigeria Students in Ghana studying in various tertiary institutions across the country. The population of Nigerian students studying in Ghana can conservatively be estimated to be about 5,000, but in actual fact they could be much more than that considering the craving for knowledge in that country.

Economic Benefits from Nigerian Businesses.

Let me start with the Nigerians studying in Ghana. These students are categorized as foreign students and expectedly their school fees are priced in hard currency. If we estimate that each student pays average of US$3,000 per academic session (many of them pay much higher than that) in terms of inflow to the country, Ghana receives about US$15m yearly in form of school fees and levies from Nigerian students in the country. This does not include amount spent as monthly maintenance, upkeeps and rents which will almost double that same figure of US$15m. In total, the Nigerian student community in Ghana collectively injects about US$40m into this economy annually.

Let us look at the banks, In terms of employment generation, if you take the seven Nigerian commercial banks in Ghana today, assuming each of them have an average staff strength of 600 regular staff and many others in support capacity these banks collectively provide decent jobs to more than 5,000 Ghanaians with handsome salaries and emoluments. This is just one of many sectors of the economy where Nigerians are adding unparalleled value to their host nation’s economy.

If you go to Telecoms, Nigeria is ably represented by Glo mobile or you look at the manufacturing sector, we have the likes of Dangote Cement, Fine Print Industries, and Coscharis etc. There are multiple Insurance companies, ICT and Aviation and transport companies of Nigerian origin. If each of these companies employs 100 Ghanaians on average, their number of employees put together cannot be anything below 5,000 people. There is no country in Africa not even South Africa that has the kind of investment Nigerians have in Ghana.

We can also look at other areas of contribution from Nigeria to Ghana. Let me just remind our readers that as at May 2014, the seven Nigerian banks have a total assets base of Ghc17.1b out of Ghc42.3b assets of the banks in Ghana. This represents 17% of the industry and their shareholders funds stood at Ghc1.2b out of the industry Ghc6.1b almost 20% of the banking sector (source Bank of Ghana).

These banks collectively pays huge sum of money to Ghana Revenue authority as corporate taxes every year. This is aside from other taxes like PAYE, WHT, VAT on imported items because of their line of business (software application taxes) e.t.c. One of these banks provided funding to the University of Professional Studies to build some state of the art lecture theatres and halls of residence, which lead to the school being upgraded to a university status. The nice park near the Accra Sports Stadium which used to be in a sorry state at the centre of the town near Osu cemetery was single handedly funded and maintained by this same bank among numerous things Nigerian banks are doing as responsible corporate citizen of Ghana.

If you ask any Ghanaian banker who has worked or is still working with any of these Nigerians banks or other companies in Ghana, I am sure they will tell you the value addition they have gained in terms of quality improvement in their knowledge base while working for these companies. The change in mentality, work ethics, the reward system they are enjoying and above all the empowerment and responsibility accounting they have come to learn over this period are unquantifiable additions to the system.

Nigerian’s External Reserve is about $39 billion as at March 2014. If there is good understanding and strong economic ties between the two countries, I don’t see why Nigerian government cannot give Ghana between US$1billion to US$2billion as a soft loan for a period of time for the country to come out of its economic predicaments instead of locking the country into those expensive Eurobond transactions that come with its own attendant challenges.

We are not exploring the ‘Big Brother Africa’ possibilities enough. We always want to turn to international lenders when you have a brother or a friend that can work out some arrangement for you without anybody knowing. They do that a lot in the banking system. They call it interbank transactions, whereby a bank suffering from temporary liquidity challenge takes some fund from other ‘friendly’ banks to meet its pressing obligations through the overnight market windows or arrangement without any of its customers knowing about it. Proverbs 18:24 says “One who has unreliable friends soon comes to ruin, but there is a friend who sticks closer than a brother’’ (NIV). This is more momentous when one is in time of dire straits[/b]

t1ann:
hatari means danger in Swahili accident means ajali

Danielnino00:



The city is already operating at 25% capacity... offices spaces are already been sold out and events hosted there.... By 2030,it should be 80% ..


Remember when the Kenyans in their weak attempt to mock EAC said the city was building one skyscraper per year...lol

Jonraid:
Hatar(Arabic) Hatari (Kiswahili) Dangerous ( English)

Ajal (Arabic) Ajali (Kiswahili) Accident ( English)


She's always clueless !

gallivant:


Kenya is the biggest African foreign investor in Tanzania, fourth biggest after UK, China and Canada. Your days of lying to Nigerians are long over.

Jonraid:
Here you go!

NairobiWalker:


Yet speaks like she knows everything.

jaycent:
If we leave, your Group will die and your girls will turn to lesbians because they can't do without we Nigerians

Daejoyoung:
China's African debt-trap: Beijing prepares to seize Kenya's port of Mombasa
Nairobi fails to repay massive debts on shady loan for underperforming railway, Kenyan infrastructure ripe for the taking: reports
214152
By Duncan DeAeth,Taiwan News, Staff Writer
2018/12/27 17:53
File Photo: Kenyan Pres. Uhuru Kenyatta and Xi Jinping, 2013
File Photo: Kenyan Pres. Uhuru Kenyatta and Xi Jinping, 2013 (By Associated Press)

TAIPEI (Taiwan News) – China may be preparing to seize some major assets in the African nation of Kenya, as a result of debt-trap diplomacy.

African media reports that Kenya may soon be forced to relinquish control of its largest and most lucrative port in Mombasa to Chinese control.

Other assets related to the inland shipment of goods from the port, including the Inland Container Depot in Nairobi, and the Standard Gauge Railway (SGR), may also be compromised in the event of a Chinese port takeover.

Kenya has reportedly taken extremely large loans from the Communist government for the development of some major highways, and especially for the SGR, which forms a crucial transport link to and from Nairobi for the import and export of goods through Mombasa.

In November, Moody’s noted that Kenya is at high risk of losing strategic assets because of debts owed to Beijing.

Local media began to express concern that Chinese lenders may be angling to seize assets, since it does not appear the Kenyan government will be capable to repaying the loans.

Now, one month later, ahead of the New Year, it’s been reported that the Chinese may be preparing to take over the Mombasa Port infrastructure soon.

The African Stand also seems to suggest that the SGR, which is operated by the Chinese, may have been designed to be a “loss-making venture.”

With a reported loss of KES 10 billion (US$98 million) in its first year of operation, it would be nearly impossible to repay the loans taken for its construction in the time requested. Kenya reportedly accepted loans of KES 500 billion (US$4.9 billion) for the SGR’s construction.


Kenya's Standard Guage Railway linking Mombasa to Nairobi (Associated Press Photo)

Kenya’s Auditor General reportedly stated that deal has always favored the China Exim Bank, which advanced the loan for the project. Further, Kenya signed on to a deal that requires any arbitration of disputes related to the debt must take place in China.

From the African Stand.

An audit completed last month indicates that Kenya Ports Authority’s (KPA) assets, which include the Mombasa port, could be taken over if the SGR does not generate enough cash to pay off the debts.

“The China Exim Bank would become a principle in (over) KPA if Kenya Railways Corporation (KRC) defaults in its obligations and China Exim Bank exercise power over the escrow account security.”

When the Chinese lender granted the loan to the Kenyan government, somehow the KPA signed on as a borrower. Somehow Kenya's government agreed that the port “would not be protected by sovereign immunity since the Government waived the immunity on the Kenya Ports Assets" by virtue of KPA signing on as a borrower, according to the Auditor General.

It is becoming increasingly clear that China’s designs on the nations of Africa are anything but benevolent. Kenya appears to be lining up behind Zambia, which is slated to lose its international airport, as well as its national electricity grid because of defaults on Chinese loans.

African nations must wake up to China’s new form of colonialism that is chipping away at their critical infrastructure one major asset at a time

Daejoyoung:

What is Kenya investing in Tanzania and who are those Kenyan investors?

NairobiWalker:


Yet speaks like she knows everything.

Jonraid:
Let her concentrate on proving to us that Nigerians are more beutiful and handsome than Kenyans!

t1ann:

And how Tanzanians speak more beautiful swahili than kenyans

rvp2018:
There two complete but unoccupied towers if you disagree kindly share the pics

t1ann:
And how Tanzanians speak more beautiful swahili than kenyans

t1ann:

Of course she is all knowing

Daejoyoung:
China's African debt-trap: Beijing prepares to seize Kenya's port of Mombasa
Nairobi fails to repay massive debts on shady loan for underperforming railway, Kenyan infrastructure ripe for the taking: reports
214152
By Duncan DeAeth,Taiwan News, Staff Writer
2018/12/27 17:53
File Photo: Kenyan Pres. Uhuru Kenyatta and Xi Jinping, 2013
File Photo: Kenyan Pres. Uhuru Kenyatta and Xi Jinping, 2013 (By Associated Press)

TAIPEI (Taiwan News) – China may be preparing to seize some major assets in the African nation of Kenya, as a result of debt-trap diplomacy.

African media reports that Kenya may soon be forced to relinquish control of its largest and most lucrative port in Mombasa to Chinese control.

Other assets related to the inland shipment of goods from the port, including the Inland Container Depot in Nairobi, and the Standard Gauge Railway (SGR), may also be compromised in the event of a Chinese port takeover.

Kenya has reportedly taken extremely large loans from the Communist government for the development of some major highways, and especially for the SGR, which forms a crucial transport link to and from Nairobi for the import and export of goods through Mombasa.

In November, Moody’s noted that Kenya is at high risk of losing strategic assets because of debts owed to Beijing.

Local media began to express concern that Chinese lenders may be angling to seize assets, since it does not appear the Kenyan government will be capable to repaying the loans.

Now, one month later, ahead of the New Year, it’s been reported that the Chinese may be preparing to take over the Mombasa Port infrastructure soon.

The African Stand also seems to suggest that the SGR, which is operated by the Chinese, may have been designed to be a “loss-making venture.”

With a reported loss of KES 10 billion (US$98 million) in its first year of operation, it would be nearly impossible to repay the loans taken for its construction in the time requested. Kenya reportedly accepted loans of KES 500 billion (US$4.9 billion) for the SGR’s construction.


Kenya's Standard Guage Railway linking Mombasa to Nairobi (Associated Press Photo)

Kenya’s Auditor General reportedly stated that deal has always favored the China Exim Bank, which advanced the loan for the project. Further, Kenya signed on to a deal that requires any arbitration of disputes related to the debt must take place in China.

From the African Stand.

An audit completed last month indicates that Kenya Ports Authority’s (KPA) assets, which include the Mombasa port, could be taken over if the SGR does not generate enough cash to pay off the debts.

“The China Exim Bank would become a principle in (over) KPA if Kenya Railways Corporation (KRC) defaults in its obligations and China Exim Bank exercise power over the escrow account security.”

When the Chinese lender granted the loan to the Kenyan government, somehow the KPA signed on as a borrower. Somehow Kenya's government agreed that the port “would not be protected by sovereign immunity since the Government waived the immunity on the Kenya Ports Assets" by virtue of KPA signing on as a borrower, according to the Auditor General.

It is becoming increasingly clear that China’s designs on the nations of Africa are anything but benevolent. Kenya appears to be lining up behind Zambia, which is slated to lose its international airport, as well as its national electricity grid because of defaults on Chinese loans.

African nations must wake up to China’s new form of colonialism that is chipping away at their critical infrastructure one major asset at a time

NairobiWalker:

A Ghanaian, BlcoChina2018, is denying this and you're here claiming Ghanaians can't deny this. Are you mad?