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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) (6454976 Views)
Am I The Only One Whos Tired Of This Kenya Is Ahead Thread / Femi Adesina: "I Don't Lie, No Matter What"; Nigerians React / Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode (2) (3) (4)
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Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by pacretus(m): 7:35am On Nov 13, 2019 |
rvp2018:Does your mother know you are disgracing her on nairaland? Respect her and don't bring in mother, so yours won t turn HOE overnight. 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 7:35am On Nov 13, 2019 |
vaxx2: You cannot sustain currency artificially for that long - if CBK was cooking our Kshs-USD it would have began a free fall like Ghanian one which you tried to peg 1:1 to dollar in 2008 after hyperinflation of 80s and 90s. Now the Cedis is heading 5.5 - by next year 6 - and the free-fall continues. Our CBK only intervene to ensure stability. Now I don't even comprehend what he'll going on in your economy.. because with currency free fall like that..no foreign investor can keep the cedis..they convert to the dollar and send it home..huge capital flight ASAP. Ghanaians themselves are preferring to open USD account and keep their money in foreign currency. You seem you export lots of minerals and have huge remittance but your macro economic are just shitty. Youre barely doing 4.5 months of forex reserve.Currency on free-fall. Inflation at double digit. Interest rates worst than Nigeria. Kenya commercial interest rate capping was enacted parliament against executive wishes - and our judiciary ruled it unconstitutional for interfering with central bank mandate - and that now is history. I don't expect interest rate to rise from 13% by much - the max for risk borrowers will be 16%. 3 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by samorobo: 7:36am On Nov 13, 2019 |
Problemkid1: Don't support the nonsense that those two are doing 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 7:46am On Nov 13, 2019 |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by edon21: 7:48am On Nov 13, 2019 |
ChiSomtoChi:iwu aturu. ijele Kenya mbu. ewu 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by JaceBlaze: 7:49am On Nov 13, 2019 |
Carmit:Absolutely ![]() No continental drift formed against the "dark continent" shall prosper ![]() |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 7:53am On Nov 13, 2019 |
rvp2018:freely floating currencies turn to depreciate on high speculation that is the nature of fiat currencies |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by vaxx2: 7:56am On Nov 13, 2019 |
rvp2018: i repeat again, Ghana economy is not politically massage , economics works here . the inconsistency in your purchasing power and your shilling currency shows your national statistics are simply fooling you. there may even be more lies to your GDP economy. I will check on it when I have time. your goverment are simply lying . Your currency is overvalued by 30 per cent on a purchasing power parity (PPP) basis. Your currency was not as strong in the global market as your goverment try to paint it. is it the same currency you want to compare wirh cedis? Ghana Inflation declined from 15.4 percent in 2016 to 7.4 percent in 2019 Fiscal deficit falling from 6.5 percent to 2.4 percent in 2019, Interest rate on 91-day Treasury bill from 16.3 percent in 2016 to 14.6 percent in 2018 ..... ( 2019 is not out ) and Current Account deficit from 6.6 percent in 2016 to 3.2 percent also in 2018. How can cedi depreciation be attributed to weak fundamental? i put it to you kenya microeconomic index is weak and the true value of its currency is not reflected ..... 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by pacretus(m): 7:57am On Nov 13, 2019 |
JaceBlaze:land mass doesn't make a people one. What Unites l people is not a mono factor, it's complex. North Korea/ South Korea, pak/ind. Isreal/Palestine. 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 7:57am On Nov 13, 2019 |
Nope. Free floating currency when economic fundamentals are solid don't go on free fall - they can depreciate or appreciate in low margins. Your macro-economics are a mess - inflation, interest rates, and the 'fake' economic growth doesn't seem to help at all - the CEDIS. Kenya is essentially free-floating currency (IMF last year disagreed and say it was managed) - but CBK does market intervention once in and a while - and it's not like our CBK manufacture USD. And there are no forex controls in Kenya. Just30: 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by pacretus(m): 8:01am On Nov 13, 2019 |
Export by African countries, kenya=$6B Ghana=$17B Nigeria=$52B. Interesting 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 8:02am On Nov 13, 2019 |
Nano think it's structural and stuff like 1D1F will help. I disagree. It's not structural - otherwise kenya with Africa highest trade deficit (11B dollars) would be crying too. It's failure of of Ghana Central Banker to manage & instill confidence on the CEDIS - and stamp on dollarization of the economy. Once people lose faith in a currency - it's a free-fall - because individuals will trade or save in USD - while foreign investors will convert CEDIS to USD ASAP and send it back home to preserve value. "We live in a country where we are overly dependent on the importation of things for our daily sustenance. Things we can produce, we continue to export them.And at the same time, we don’t generate enough export,” he said and stressed the need for public discourse to focus on addressing how the country could reduce import." 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:05am On Nov 13, 2019 |
rvp2018:cedi was never pegged to the dollar No Ghanaian prefer using the dollar dollar is not even a legal tender here. this desperation of yours need to be address. since you dont know how MOU in investment works Let me help teach you this is the economics of foreign exchange https://www.youtube.com/watch?v=ig_EO805rpA |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Kennyswagz2: 8:06am On Nov 13, 2019 |
samorobo:that ipob loser wanted to spoil this thread with their usual nonsense.. I had to put him in his place quickly 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Kennyswagz2: 8:08am On Nov 13, 2019 |
Just30:sorry bro 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 8:09am On Nov 13, 2019 |
Why do you guys lie when the data is our there. Most Ghanians are now keep their money in foreign currency. Foreign investors repartraite their money as soon as possible leading to capital flight. This is loop that feed itself and CEDIS continues to fall. Evidence 1:Bank of Ghana captured this in the Banking Sector Report for September 2019 it published. The report shows that the domestic currency component of deposits recorded a slower growth of 9.1 percent to GH¢54.8 billion in August 2019, 20 percentage points lower than the previous year’s growth; whereas, foreign currency deposits grew by 21.2 percent to record GH¢21.2 billion during the review period compared to a growth of 18.6 percent in the previous year. Just30: 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by vaxx2: 8:10am On Nov 13, 2019 |
rvp2018:The capping of your interest shows your goverment can politically influenced anything in your country. Your national statistics are simply lying about how rosy currency is ?. If your purchasing power is dwindling , how can you say you have a better currency... 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:11am On Nov 13, 2019 |
rvp2018:One thing you dont know is that, the Cedi is still a better currency than the kshs your currency that is on constant support because you export just 5 billion dollars whiles you import 15 billion dollars. your economy is import-dependent Meaning there is serious figure massaging going on in Kenya as we speak. |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by samorobo: 8:12am On Nov 13, 2019 |
Kennyswagz2: The best thing to do to him is to ignore him...they say silence is for a fool. 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by vaxx2: 8:14am On Nov 13, 2019 |
Just30:check their depreciated purchasing power. and then ask him how is their currency strong ? You can't have a depreciated purchasing power with high currency. somebody must be lying some where. The goverment is simply lying to them... 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:16am On Nov 13, 2019 |
vaxx2:If he has played house of cards before, like he will know what it means when you play with cards and all the cards are against you. They are on a doom path if they dont stop borrowing to support the currency. Your debt goes high, you dont produce much so you cant service the debt. Inflation hits and everyone suffers 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by gallivant: 8:21am On Nov 13, 2019 |
samorobo: Smh. How many times will you post the same bullshit pictures? We want to see something new Sammy. Get with the program. ![]() 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:22am On Nov 13, 2019 |
vaxx2: This can only mean, their central bank is using huge part of the borrowed money to support their currency in a pegging system. 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 8:23am On Nov 13, 2019 |
Capping was populist move by parliament to reign on the banks who had refused to be self-regualte - although it was not as bad as I have seen in Ghana and Nigeria. We are a modern democracy - and Judiciary said no - that is Central Bank job. As you speak interest capping is gone. It was only there for 3yrs (2016-2019). When it come to purchasing power - I don't what exactly that mean - you see we have huge trade deficit - meaning we import more than we export - so a strong Shilling works for us - purchasing power wise - and of course it also helps when we have to repay debts. Now Ghana you have positive trade deficit - so I don't even know why your president think you're importing more than you should - and but what is hammering you is not a WEAK CEDIS - it's a UNSTABLE RAPIDLY DETERIORATING CEDIS. Nobody can trust such a currency - leading to capital flight. vaxx2: 3 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by vaxx2: 8:25am On Nov 13, 2019 |
Just30:How can they then think about social development like connecting the numbers of citizens in rural area to national grid, like water access , like building schools, hospitals or even financing bigger project in excess of 2 billion dollar without being hit hard ... 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Kennyswagz2: 8:27am On Nov 13, 2019 |
samorobo:no I wouldn't.. the idiot wanted to turn this thread to another thing... Ok bro i have heard. I will ignore him 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:28am On Nov 13, 2019 |
rvp2018: ![]() ![]() ![]() ![]() ![]() your central bank will not even dream of freely floating your currency because, in minute, it will become useless like Zimbabwe ![]() ![]() ![]() ![]() how do you think they will do it? when export is just 5 billion dollars? You are just piling on debt you cannot pay encourage by you politicians to support your national currency. Just to cover for the weak fundamentals in your economy This will end in a new Zimbabwe. |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Problemkid1: 8:28am On Nov 13, 2019 |
samorobo:Nah? I won't do such bro. ![]() 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 8:29am On Nov 13, 2019 |
You know the stats you buddy are quoting are very shocking. Inflation of 15% down to 7.5% for example is only possible in a country that is in economic mess. Not a country that is growing at such rate. Kenya inflation rate has always been under 5%. For all the time I can recall Kenya inflation has always been single digit. Nowadays it as low as 4%. The accusation that Kshs is artificially pegged to dollar has no basis - Kshs for last 30yrs has been 63- 78 -85 -100 to the dollar. We cannot possibly sustain to keep Kshs for that long without the fundamentals. In our 50yrs of independence - we have only had one serious hyper-inflation last 2-3yrs - we had Kshs drop from 20shs to 60shs in 1992/1993 - after our central bank was looted/donor funding withdrawn - in the run up to the first real multiparty election. Just30: 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by gallivant: 8:29am On Nov 13, 2019 |
vaxx2: Lol Don't forget mountains and BRT! ![]() What else could there be? 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Problemkid1: 8:30am On Nov 13, 2019 |
samorobo:By the way Sammy. Are you enjoying the show between rvp2018 and vaxx ![]() ![]() 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by gallivant: 8:31am On Nov 13, 2019 |
Kennyswagz2: It's Dubai bro, not Eko. |
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