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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) (6454656 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 rvp2018: 8:32am On Nov 13, 2019 |
Kshs has been free floating for as long as I can remember (I think 1993). IMF last year disagreed and classified it managed because they cannot figure out just how strong and defiant Kshs has been. CBK intervene as market player. We don't have Nigeria kind of 3 exchange rates. We don't have black market for dollars. You can buy and sell as many dollars as you want anytime. And you can take them out of Kenya anyday. But nobody does that because our fundamentals are so strong. Just30: 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:33am On Nov 13, 2019 |
rvp2018:you you just posted, you dont even understand In Ghana, not one can own a dollar account unless they earn in dollars the only reason domestic deposit did not grow much was that Ghana is in a banking crisis at the moment. An engineered banking crisis aiming to burst a bubble in a controlled manner before it leads to a bigger crisis. |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:34am On Nov 13, 2019 |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 8:34am On Nov 13, 2019 |
Central Bank of kenya do not have any borrowed money. Treasury is the one that borrows and use the money. Central bank of kenya buys and sells forex like any market player - and they come to market to buy or sell - so they can keep Kshs stable.Commercial banks are also key forex players. When fundamentals are against Kshs - no amount of CBK defending Kshs can help - so for instance Kshs once depreciated to 107shs to a dollar. Just30: 3 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Kennyswagz2: 8:36am On Nov 13, 2019 |
gallivant:black and white stripes in Dubai? 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 8:37am On Nov 13, 2019 |
Facts are stubborn. Nearly 1/3 of money in Ghana is banked in dollars. It doesn't by who - but foreign-currency denominated account are huge. I wish you an inject some confidence to CEDIS - otherwise it's on a serious free-fall - and before soon you'll be in yet another DEMONETIZATION ![]() This time peg your CEDIS in Kshs - and let Central Bank of Kenya help manage your CEDIS. Just30: 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:39am On Nov 13, 2019 |
rvp2018:Ghana currency depreciation is a structure thing whiles capital flight is on the lower side, demand for dollars for import still remain high that is why Ghana is embarking on an import substitution program The only reason why the Kenyan case hasnt turned into another Zimbabwe is that your central bank is borrowing both domestically and foreign hugely to support the currency. with the knowledge i have on fiat currencies, this trend in unsustainable it leads to more misery |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by vaxx2: 8:43am On Nov 13, 2019 |
rvp2018:The kind of cleansing system that was recently implemented on financial sector in Ghana will flawed your economy if it is implemented . in Ghana, economy works not political instrument by forcing banks or financial institute to do what is against your economy fundamentals. You easily see how your micro economy suffers... A true reflection of your weak economy.. The stronger your purchasing power the stronger your currency( Unless it is naturally devalued)like that of China . you can't have a weak purchasing power with stronger currency. it shows your inflation rate will be accelerating cus A true reflection of economy will exposed itself. shillings can't work for you cus it will makes your local meagre export become unnecessarily expensive which will force buyer to look elsewhere. Tanzania may be enjoying this benefit since it is your next door neighbour..... Ghana is a dollarised country and the issue is more historical rather than fundamentals . stopping more import shows that we want to be self sufficient in area we think we are better off and we can can perform better.... 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 8:46am On Nov 13, 2019 |
1) It's not structural because you have positive Trade balance. You export more than your import. You have trade surplus. You also have 8B dollars from remittances. So on face value - you're doing well - but CEDIS isn't. 2) I think the problem is more confidence thing - you demonetization failed because Ghanian have really bad memories of Cedis during hyper-inflation - so nobody trust Ghanian Cedis. 3) Kenya has been free-floating kshs since 93, we have no forex controls and CBK don't borrow any money. They buy and sell forexs like any market player. 4) The strength of Kshs is not a mystery - it's because Kenya esp Nairobi attract a lot of forex - because we are financial capital - we have many NGOS, UN and MNCS bring lots of forex - we have tourist bring forex - we have lot of capital flight from region (Tanzania, Somali, etc ) ending in Nairobi. Heck we have people as far as UK, US, Nigeria coming to buy kenya real estates. 5) We are now mostly debt re-financing. We borrow 6B dollars - about 3B dollars externally - and 3B dollar internally. And we repay 6B dollars - about 3B dollars internally and 3b dollars externally. So forex from debt is NOT NOT responsible for strength of Kshs - we pay back as much dollars as we borrow. Just30: 3 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:47am On Nov 13, 2019 |
vaxx2:by borrowing to support the currency Caping inflation means that inflation cannot expose them until national revenue can no longer support debt repayment. then they will turn to borrow new to pay old debts Debt substitution program. 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by samorobo: 8:48am On Nov 13, 2019 |
Problemkid1: Lol I am...vaxx will finish him.. Finally every one is beginning to see what I have been saying .. Every thing in that zoo Kenya is fvcking fake and cooked..All stat is a facade influenced by their stupid policticians to cover things on ground..They are just like Rwanda if not worse..Rvp is quick to point hand and shout cooked.... when none of the countries on this thread can attempt the kind of fraud their politicians perpetuate....Wonder no more why they are more corrupt than nigerian... Wonder no more why their budget doen't reflect on their infastructures...I didn't know the KSHS was this valueless.... Fvck who borrows to support your currency...that Isa disaster. 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by samorobo: 8:49am On Nov 13, 2019 |
Kennyswagz2: 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:50am On Nov 13, 2019 |
vaxx2:yes they can have by simply borrowing to support the currency 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 8:53am On Nov 13, 2019 |
Now you're about to admit the problem. The problem is historical - the way I see - it the lack of confidence in CEDIS - and you gov is doing such a bad job. Kenya strong Kshs against deteriorating regional currencies (UG & TZ) - is making our manufacturer goods expensive (although when it come to quality -they cannot hack it - Kenya goods are still seen as of better quality) - but we export lot more services than even manufactured goods - so we are fine - and still run East Africa trade. But because we still import a lot of capital goods from likes of India, Saudi Arabia(Oil), China, Japan (cars, machinery, equipment) - and because we value currency STABILITY - our central bank does a clean job defending Kshs in an open market. vaxx2: 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by vaxx2: 8:53am On Nov 13, 2019 |
Just30:That is exactly what they are doing ? 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 8:55am On Nov 13, 2019 |
You can fake something for 30yrs. Kenya has never been bankrupt. About 10yrs you were so bankrupt - you had all debts - forgiven by Paris Club - and now you're heading straight into another bankruptcy. And we cannot fake pictures and videos of Kenya. samorobo: 4 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Problemkid1: 8:55am On Nov 13, 2019 |
samorobo:Vaxx no dey ever gree ooh ![]() ![]() ![]() ![]() 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by samorobo: 8:56am On Nov 13, 2019 |
gallivant: Lol is this coming from a kenyan that usually repeat a district oftenly.... The infastructure are world class....oh I get it 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:56am On Nov 13, 2019 |
rvp2018:Everyone trust such a currency because they know that it is transparent , stable, and predictable not one that they will wake up one morning and interest rate has been capped, wake up the next morning and the value of the currency has jumped without any economic explanation. Now that Ghana has built a positive trade balance, she is seeking to grow that trade balance by seeking to increase her export values. This is what will keep the cedis stable for a very long time. Now Ghanaian exporters can sell their goods internationally at a cheaper rate. 1 Like 2 Shares |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by samorobo: 8:57am On Nov 13, 2019 |
Problemkid1: I can bet my middle finger that they are tampering with their poverty figures..,. Stupid zoo 2 Likes 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 8:58am On Nov 13, 2019 |
vaxx2:They can't for now because it will only lead to more debt especially when only a small part of their budget is left for financing capital expenditure 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by gallivant: 9:00am On Nov 13, 2019 |
Kennyswagz2: It's not Lagos Nigeria, ask Sammy. |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by samorobo: 9:03am On Nov 13, 2019 |
rvp2018: What pics and video are you talking about...is it the ones that reveals the secret midnight meetings your Polictians organise or which one......your middle class bubble burst alone has given us a clue on your fake gdp....don't even talk about debt or borrowing to pay salaries cause you practice the most stupid style...you borrow to pay previous debt...like who does that ....Like Nigerian Polictians can be silly at times but no this stupid....What is even the benefits of collecting tax if your generated revenue cannot even pay your debt...for the past five years now your debt has not dropped but soared, any your leader will tell you they are servicing your debt...like how nigga, howwww.. ![]() 2 Likes 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 9:03am On Nov 13, 2019 |
rvp2018:no one is disputing the fact that Ghana has gone through an economic crisis and is back. The accusation that your currency is artificially pegged to the dollar whiles your inflation is capped are factual Those depreciation patterns correspond with your debt increment patterns as you struggle to keep it under control before all the cards come tumbling down. 1 Like 1 Share |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by gallivant: 9:03am On Nov 13, 2019 |
samorobo: Our infrastructure is world class. How many times will you post the same exact pictures? Just give us Instabul if you ran out of Eko pictures. ![]() |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 9:05am On Nov 13, 2019 |
samorobo:lol! Why are you projecting your failures to us. Nigeria is the only zoo poverty stricken nation we know. You guys need to learn from your father Ghana to change. ![]() |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Problemkid1: 9:07am On Nov 13, 2019 |
samorobo: ![]() ![]() 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by samorobo: 9:07am On Nov 13, 2019 |
gallivant: Not again...Are we still talking about Lagos world class infrastructures..does Dubai gate her apartment with tall fences? Do they use elevated pedestrian lane? Do they partition their road?. Mumu boy 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 9:07am On Nov 13, 2019 |
How can a currency that is annually on a free-fall be called stable and predictable. Don't believe your own propaganda. You have negative feedback loop that is killing the CEDIS. Just30: 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Problemkid1: 9:08am On Nov 13, 2019 |
Shma:But Ghana is still your father too ![]() ![]() ![]() Poverty is chopping that zoo with no mercy ![]() ![]() ![]() 1 Like |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by rvp2018: 9:11am On Nov 13, 2019 |
How can inflation be capped ![]() We spend about 30% of our budget to re-pay debt and we borrow about 30%. It called debt re-financing. Once our revenues grow - we will start debt leveraging - borrowing more than we repay. It's not even 3yrs when IMF came to bail you out - because despite the so called 8% fake growth rate - your fundamentals are a mess. At least everyone can see Ethiopia growth is real. Yours - outside - Oil & Minning - IS NON-EXISTENT. Just30: 2 Likes |
Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by samorobo: 9:12am On Nov 13, 2019 |
Just30: Gbam....That is a foolish act ![]() 1 Like |
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