ojesymsym:
Sir, Japan does not have one of the weakest currency on the planet sir. It is around yen120 to 1USD, definitely not close to been one of the worse in the world.

If you want to compare Nigeria with any African country please use South African, Rwanda or Moroco and perhaps Kenya and some other silent countries in Southern Africa.

Oga Ema mentioned in either this thread or NSEMPA thread that Cabury moved their production facility from Nigeria to Ghana only for it to coincide with the border closure and they could not sell their products to the extent that the Ghanian CEO was queried, here you are hyping Ghana like say na Dubai.

It was the CEO of Unilever Nigeria plc, the CEO is a Ghanaian. He was removed early this year and a Filipino is now the CEO of the company

pluto09:



Strong is a relative term.
Investors are more interested in the stability of currencies than the nominal value attached.


If Ghana cedi is 1 cedi to a dollar since they removed those zeroes till now,then they must be doing something that Nigeria is not doing with the way our currency has depreciated over time.

Well said

That's the point I was trying to drive at.

In nominal terms
Japan currency weak
In the basket of 8
Theirs is the weakest
GBP and USD and EUR and AUD and CAD and the other two in the basket of 8 are all higher than JPY.


But JPY has an advantage

They are insulated to a large degree from forex shocks

The JPY sliding 20% tomorrow against sat USD or EUR will not trigger inflation that will cause for concern in Japan

Cos they can buy stuff produced at home


China used similar trick to outsmart America
Now it's too late, as the act has been done


This argument popped up because someone was trying to compare currencies of GH and NGA as the BASIS for which country is better

XiaoLi:
South Korean Won to US dollar rate may look high but i can tell you that Won has alot of value inside South Korea!

Now you get what I am trying to say

You missed it before

Good

pluto09:



Strong is a relative term.
Investors are more interested in the stability of currencies than the nominal value attached.

If Ghana cedi is 1 cedi to a dollar since they removed those zeroes till now,then they must be doing something that Nigeria is not doing with the way our currency has depreciated over time.

It is now C5.80 to $1.

Even though it was C1.00 to $1 about 13 years ago.

When the old C10,000 was redenominated to C1

Thanks, I have corrected it.

emmanuelewumi:



It was the CEO of Unilever Nigeria plc, the CEO is a Ghanaian. He was removed early this year and a Filipino is now the CEO of the company

pluto09:



Strong is a relative term.
Investors are more interested in the stability of currencies than the nominal value attached.

If Ghana cedi is 1 cedi to a dollar since they removed those zeroes till now,then they must be doing something that Nigeria is not doing with the way our currency has depreciated over time.

If Soludo had redenominated Naira.

Old N100 will be N1 when redenominated

So the current conversation rate of Naira to dollar will be N4 to $1.

Houses of N100 million will be redenominated to N1 million

Your account balance of N100,000 will become N1000 the next day after the redenominaion.

emmanuelewumi:



It is now C5.80 to $1.

Even though it was C1.00 to $1 about 13 years ago.

When the old C10,000 was redenominated to C1

OK.
That means the cedi is also depreciating.

pluto09:


OK.
That means the cedi is also depreciating.

It is o

That's why they price things in USD there

Well a good number of things



What has been saving naira has been the defence the CBN has been doing to prop naira over a couple of years now

If we let naira float (not managed float o, free float)

I'm afraid naira may even slide to N600 in my opinion

Or maybe N550

emmanuelewumi:



If Soludo had redenominated Naira.

Old N100 will be N1 when redenominated

So the current conversation rate of Naira to dollar will be N4 to $1.

Houses of N100 million will be redenominated to N1 million

Your account balance of N100,000 will become N1000 the next day after the redenominaion.

What of the Naira notes that i kept inside mattress or under my bed?.

To put it in perspective:

13 years ago, C10,000 = $1, using mathematical formula, it was recalculated to get C1 = $1
Now (2020) C5.8 = $1, which true value C58,000 = $1
That is an increase of 480%

Compare that with Nigeria:
13 years ago, NGR120 = $1
Now (2020) NGR420 = $1
which is an increase of 250%

emmanuelewumi:



It is now C5.80 to $1.

Even though it was C1.00 to $1 about 13 years ago.

When the old C10,000 was redenominated to C1

pluto09:


OK.
That means the cedi is also depreciating.

Yes now but people that want to hype will tell you it is $1 to 1 GHS.

NL1960:


What of the Naira notes that i kept inside mattress or under my bed?.

There will be new notes when a currency is redenominated, the old ones will become invalid for transactions

NL1960:


Yes now but people that want to hype will tell you it is $1 to 1 GHS.

Without redenominaion it would have been $1 to 58,000 GHS

ojesymsym:
To put it in perspective:

13 years ago, C10,000 = $1, using mathematical formula, it was recalculated to get C1 = $1
Now (2020) C5.8 = $1, which true value C58,000 = $1
That is an increase of 480%

Compare that with Nigeria:
13 years ago, NGR120 = $1
Now (2020) NGR420 = $1
which is an increase of 250%

Upon the redenominaion, the grass is usually greener at the other side.

NL1960:


Yes now but people that want to hype will tell you it is $1 to 1 GHS.

Did anyone mention 1 cedi to one USD here

Those days are gone

That is why sometimes arguments like this in an enlightened way are good, it helps everyone to put things in perspective.
Unfortunately though, Nigeria has a lot of potentials that it is not harnessing.

emmanuelewumi:



Upon the redenominaion, the grass is usually greener at the other side.

I have this feeling if they had not redenominated the value would have probably been around C46,000 which is a lower percentage increase than the present one.

emmanuelewumi:



Without redenominaion it would have been $1 to 58,000 GHS

emmanuelewumi:



Upon the redenominaion, the grass is usually greener at the other side.

Nigeria adopting free float may send Nigeria figure closer to the Ghana figure tho


Defending the currency has been what we have been doing



Ghana presents some real investment opportunities really

That's why they are getting a lot of FDI

NL1960:


Yes now but people that want to hype will tell you it is $1 to 1 GHS.

H

DexterousOne:


It's better to be actively invested in Ghana than investing in securities

Venture Capital is becoming a big thing in Ghana too

If you are lucky to strike the cord correctly twice

You will be made.


Quite shameful that we are not so big on venture capital in Nigeria


There are opportunities in Nigeria

There are opportunities in Ghana too

But Ghana is where I'll rather invest more if I had the luxury of choice

This is 100% wrong bro. While I respect your opinion on other aspects of other discussions you have had here, this bit you put up there is 1000% false.

Tobex4realTobex234:



This is 100% wrong bro. While I respect your opinion on other aspects of other discussions you have had here, this bit you put up there is 1000% false.

Point out what is wrong in my post


Investing in Ghana is better than buying their securities

That's a known fact


Venture Capital becoming a big thing in Ghana

Also a known fact , I see what goes on there


If you hit one or two better deals, u will be made

This is also a fact

I have seen an Igbo man who benefitted from this (I did something on a smaller scale and also benefitted as well)




Quite shameful we are not big on Venture Capital in Nigeria

And this is also true

We are not big on venture capital, as compared to Soutg Africa and Ghana.
Live and direct



There are opportunities in Nigeria and Ghana

Which is obviously true
Or you mean to say there are no opportunities in Ghana? Or Nigeria?


I'd rather invest in Ghana than Nigeria if I had luxury of choice

This is my personal preference
Surprised anyone will get triggered by it


So my question to u

Point out what is false here

When it comes to venture capital, South Africa may be the only company above Nigeria in Africa.

How many Nigerian (versus Ghanaian companies) are on YC? How many are on 500startups?

How many $1bn dollar startups are in Nigeria (vs Ghana)?

When it comes to venture capital, I will pick Kenya over Ghana and Nigeria is still far well above Kenya.

The folks that did seed investment in Andela, Paystack, Flutterwave, Kobo360 are already on 1000%. Even 54gene that was started not long ago, people have cashed out.

When it comes to venture capital, Ghana is like ant where Nigeria they. Let's stop feeding people half baked emotional data on a faceless forum bros.

Tobex4realTobex234:
When it comes to venture capital, South Africa may be the only company above Nigeria in Africa.

How many Nigerian (versus Ghanaian companies) are on YC? How many are on 500startups?

How many $1bn dollar startups are in Nigeria (vs Ghana)?

When it comes to venture capital, I will pick Kenya over Ghana and Nigeria is still far well above Kenya.

The folks that did seed investment in Andela, Paystack, Flutterwave, Kobo360 are already on 1000%. Even 54gene that was started not long ago, people have cashed out.

When it comes to venture capital, Ghana is like ant where Nigeria they. Let's stop feeding people half baked emotional data on a faceless forum bros.

I'm feeding people with "half baked emotional data"


Chineke nna

My life o


Hahahahahahaha

In 2019, the combined startups operating on the continent received a total of $1.3 billion in funding.
Nigeria got almost 50%, Ghana got a meager 3%. And from 2015, the difference has remained this large.

DexterousOne:


The Japanese yen exchange more units for the dollar than say the ZAR or GHS

The Korean Won exchanges even more units for dollars than the ZAR or GHS


I have dealt with Korean won years ago

10000 won was exchanged for less than 2k naira


I know what I am saying

You are still not listening. That price or exchange is not what determines the value of a currency.

You can exchange more Dangote Cement for 1 Nestle doesn’t mean Nestle has a higher value (market cap).

You are looking at the price, which we are telling you is wrong.

DexterousOne:



I'm feeding people with "half baked emotional data"


Chineke nna

My life o


Hahahahahahaha

It is half baked because it's not even close to the truth at all. I am not disputing your other assessment, but when it comes to venture capital, Ghana cannot even offer what is obtainable in only V.I.

Tobex4realTobex234:
When it comes to venture capital, South Africa may be the only company above Nigeria in Africa.

How many Nigerian (versus Ghanaian companies) are on YC? How many are on 500startups?

How many $1bn dollar startups are in Nigeria (vs Ghana)?

When it comes to venture capital, I will pick Kenya over Ghana and Nigeria is still far well above Kenya.

The folks that did seed investment in Andela, Paystack, Flutterwave, Kobo360 are already on 1000%. Even 54gene that was started not long ago, people have cashed out.

When it comes to venture capital, Ghana is like ant where Nigeria they. Let's stop feeding people half baked emotional data on a faceless forum bros.

Let me tell you something
When it comes to the spread

Ghana is more into Venture Capital (I'm talking of the businesses here, not necessary the source of capital) than Nigeria


While in Nigeria most people are crying that the BANK refused to give them capital to run businesses, instead of even thinking of venture capitalists, that should tell you that we dont have that culture here, hence, we are not big in that


Its becoming a culture in Ghana for budding entrepreneurs to seek venture capital, as those outlets are more accessible to them at that level than say an average business person who want to expand in Nigeria



Me I wont say more than this


I'm not a Ghanaian

I dont gain one kobo from allegedly "promoting" ghana


But I'm telling u guys here based on my EXPERIENCE AND OBSERVATION

We do not have a VC culture in Nigeria
As compared to elsewhere.


Apart from the IT space

How accessible is VC funding for the regular joe on the street of Nigeria?


Leave matter abeg

GonFreecss1:



You are still not listening. That price or exchange is not what determines the value of a currency.

You can exchange more Dangote Cement for 1 Nestle doesn’t mean Nestle has a higher value (market cap).

You are looking at the price, which we are telling you is wrong.

Others have gotten the point I was trying to make

You still have not

What you are trying to say is what I mean in a way
But una no dey grab where I dey come from

DexterousOne:


Well said

That's the point I was trying to drive at.

In nominal terms
Japan currency weak
In the basket of 8
Theirs is the weakest
GBP and USD and EUR and AUD and CAD and the other two in the basket of 8 are all higher than JPY.


But JPY has an advantage

They are insulated to a large degree from forex shocks

The JPY sliding 20% tomorrow against sat USD or EUR will not trigger inflation that will cause for concern in Japan

Cos they can buy stuff produced at home


China used similar trick to outsmart America
Now it's too late, as the act has been done


This argument popped up because someone was trying to compare currencies of GH and NGA as the BASIS for which country is better

And if I told you JPY is the 4th strongest currency in the world, below CNY, USD and EUR, with GBP at number 5, and KRW at number 6, how would that make you feel?

I like how you argue, but in this one you lost the plot man.

The rand and one other African currency are the only ones that are above the Naira.

Naira is like 46 in the world. Shocked bah? Lol.

About $1.3 billion worth of Investments made in Africa by venture capitalist in 2019

Guess the preferred destinations, South Africa, Nigeria and Kenya

Tobex4realTobex234:


It is half baked because it's not even close to the truth at all. I am not disputing your other assessment, but when it comes to venture capital, Ghana cannot even offer what is obtainable in only V.I.

We dont have the VC culture here

And the stat u pulled is not even invalidating my point

DexterousOne:


Let me tell you something
When it comes to the spread

Ghana is more into Venture Capital (I'm talking of the businesses here, not necessary the source of capital) than Nigeria


While in Nigeria most people are crying that the BANK refused to give them capital to run businesses, instead of even thinking of venture capitalists, that should tell you that we dont have that culture here, hence, we are not big in that


Its becoming a culture in Ghana for budding entrepreneurs to seek venture capital, as those outlets are more accessible to them at that level than say an average business person who want to expand in Nigeria



Me I wont say more than this


I'm not a Ghanaian

I dont gain one kobo from allegedly "promoting" ghana


But I'm telling u guys here based on my EXPERIENCE AND OBSERVATION

We do not have a VC culture in Nigeria
As compared to elsewhere.


Apart from the IT space

How accessible is VC funding for the regular joe on the street of Nigeria?


Leave matter abeg

What venture is a regular joe on the street starting that he needs funding for? I am showing you companies that have started in less than 5 years and now employs 100's, you're mentioning Ghana lol. You clearly don't know much about the VC space as you claim bro. If you do, you won't be comparing Ghana with Lekki sef, let alone Nigeria.