Toshy wrote:If as the world bank claims, mobile money transactions make up 20% of our GDP and last year we transacted 1.7 trillion ksh (20 billion USD) doesn't that make our GDP closer to 100 billion USD? This means the figure of 40 billion USD being mentioned is a gross underestimate of our economic size.
This finally makes sense. Our GDP is generally much larger than quoted simply because many of the units of activities in our economy are never counted.
Picture this, somewhere in deep Murang'a, a housewife ties a baby to her back and spends the day collecting firewood for boiling Githeri. End result is the family feeds that day, impact on economy is nil coz the household planted the maize and beans used to make the Githeri in their subsistence shamba.
now in the UK, wifey goes to work at the tube and earns 1,500 pounds per month, takes children to a nanny who charges 300 pounds per month, in the evening she buys premade frozen food for more pounds and cooks it with electricity and freezes it with electiricity,
The activities for the UK household are recorded and add to the size of the economy without improving the individuals life while the Kenyans are not recorded and wrongly depress ours.
Trust me if you are middo crass in Kenya, you are missing nothing in this world
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins