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Kenya Economy Watch
Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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Angelica _ann wrote:Ericsson wrote:Angelica _ann wrote:Ericsson wrote:Unable to repay a Sh 77 Billion syndicated loan that was due in October this year, Kenya Govt has requested International creditors to extend repayment period by 6 months to April 2018.
*90% of the creditors are for the extension The 10% of the creditors were paid.The remaining 90% will be paid in April at a higher interest rate. So what is the amount paid? When I get the figure will inform you Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 5/6/2008 Posts: 199
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Ericsson wrote:Angelica _ann wrote:Ericsson wrote:Angelica _ann wrote:Ericsson wrote:Unable to repay a Sh 77 Billion syndicated loan that was due in October this year, Kenya Govt has requested International creditors to extend repayment period by 6 months to April 2018.
*90% of the creditors are for the extension The 10% of the creditors were paid.The remaining 90% will be paid in April at a higher interest rate. So what is the amount paid? When I get the figure will inform you And if you can, what is the increase in interest?
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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In March, Kenya borrowed Sh82 billion ($800 million) in a syndicated loan from a consortium of four banks – Standard Chartered, Standard Bank, Citi and Rand Merchant Bank. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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I see Treasury secretary Rotich visiting IMF very soon Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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Ericsson wrote:I see Treasury secretary Rotich visiting IMF very soon A Cabinet Secretary in Charge of the Treasury, yes but most likely not Rotich. Apparently, Rotich is one of the Members of the Cabinet on his way out, according to the mucheneneko columns of the Star.
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Venezuela likely to go bankrupt tomorrow If Obiero did it, Who Am I?
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Swenani wrote:Venezuela likely to go bankrupt tomorrow With all the oil reserves they have, how now? That is serious mismanagement!!! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 6/23/2009 Posts: 13,555 Location: nairobi
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Angelica _ann wrote:Swenani wrote:Venezuela likely to go bankrupt tomorrow With all the oil reserves they have, how now? That is serious mismanagement!!! We are in a similar predicament.. The two men will finish us
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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obiero wrote:Angelica _ann wrote:Swenani wrote:Venezuela likely to go bankrupt tomorrow With all the oil reserves they have, how now? That is serious mismanagement!!! We are in a similar predicament.. The two men will finish us and especially when the careless borrowing to service interest fails "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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mlennyma wrote:obiero wrote:Angelica _ann wrote:Swenani wrote:Venezuela likely to go bankrupt tomorrow With all the oil reserves they have, how now? That is serious mismanagement!!! We are in a similar predicament.. The two men will finish us and especially when the careless borrowing to service interest fails Add to ratings downgrade and interest rates rising in EU and America which makes it expensive for kenya to borrow internationally Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 10/6/2015 Posts: 249 Location: Nairobi
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Ericsson wrote:mlennyma wrote:obiero wrote:Angelica _ann wrote:Swenani wrote:Venezuela likely to go bankrupt tomorrow With all the oil reserves they have, how now? That is serious mismanagement!!! We are in a similar predicament.. The two men will finish us and especially when the careless borrowing to service interest fails Add to ratings downgrade and interest rates rising in EU and America which makes it expensive for kenya to borrow internationally If the downgrade happens with the invariable consequence of expensive foreign debt,then we can as well forget the repeal/amendment of the rate cap law in the medium term. Never lose your position in a bull market,BTFD.
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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mamilli wrote:Ericsson wrote:mlennyma wrote:obiero wrote:Angelica _ann wrote:Swenani wrote:Venezuela likely to go bankrupt tomorrow With all the oil reserves they have, how now? That is serious mismanagement!!! We are in a similar predicament.. The two men will finish us and especially when the careless borrowing to service interest fails Add to ratings downgrade and interest rates rising in EU and America which makes it expensive for kenya to borrow internationally If the downgrade happens with the invariable consequence of expensive foreign debt,then we can as well forget the repeal/ammendment of the rate cap law in the medium term. Repeal will be done asap because the next saviour will be IMF bailout who will give conditions and one of them will be repeal interest rates cap. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 11/13/2015 Posts: 1,596
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Ericsson wrote:mamilli wrote:Ericsson wrote:mlennyma wrote:obiero wrote:Angelica _ann wrote:Swenani wrote:Venezuela likely to go bankrupt tomorrow With all the oil reserves they have, how now? That is serious mismanagement!!! We are in a similar predicament.. The two men will finish us and especially when the careless borrowing to service interest fails Add to ratings downgrade and interest rates rising in EU and America which makes it expensive for kenya to borrow internationally If the downgrade happens with the invariable consequence of expensive foreign debt,then we can as well forget the repeal/ammendment of the rate cap law in the medium term. Repeal will be done asap because the next saviour will be IMF bailout who will give conditions and one of them will be repeal interest rates cap. The structural damage is already done. Repealing the cap won't have much of an effect. Only a structural adjustment program will do Quote:Default in personal loan though jumped 42.4 per cent in 2016, compared to the previous year, as uptake of credit by individuals slowed – only growing 6.1 per cent – in the period....
“Contrary to common belief that low rates support NPL reduction, the correlation between lending rates and NPL ratio from FY03 – 2Q17, has been negative (-0.4),” http://www.businessdaily...94288-6ucjohz/index.html
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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wukan wrote:Ericsson wrote:mamilli wrote:Ericsson wrote:mlennyma wrote:obiero wrote:Angelica _ann wrote:Swenani wrote:Venezuela likely to go bankrupt tomorrow With all the oil reserves they have, how now? That is serious mismanagement!!! We are in a similar predicament.. The two men will finish us and especially when the careless borrowing to service interest fails Add to ratings downgrade and interest rates rising in EU and America which makes it expensive for kenya to borrow internationally If the downgrade happens with the invariable consequence of expensive foreign debt,then we can as well forget the repeal/ammendment of the rate cap law in the medium term. Repeal will be done asap because the next saviour will be IMF bailout who will give conditions and one of them will be repeal interest rates cap. The structural damage is already done. Repealing the cap won't have much of an effect. Only a structural adjustment program will do Quote:Default in personal loan though jumped 42.4 per cent in 2016, compared to the previous year, as uptake of credit by individuals slowed – only growing 6.1 per cent – in the period....
“Contrary to common belief that low rates support NPL reduction, the correlation between lending rates and NPL ratio from FY03 – 2Q17, has been negative (-0.4),” http://www.businessdaily...4288-6ucjohz/index.html Agreed. Repealing/ammending the rate cap is the easy part. The problem is much bigger than that. With treasury seemingly at sea and unwilling/unable to do damage limitation, it will be very interesting to watch how KE sails in the next one year or so. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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Zambia moves to slow debt accumulation as it seeks IMF aid bailout Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Ericsson wrote:Zambia moves to slow debt accumulation as it seeks IMF aid bailout The same Zambia whose debt was canceled or forgiven in the early 2000's? What did they do? They went on a borrowing spree... Did a stupid currency rebase just to fool the masses that Zambian economy is now stronger 
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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http://kenyanwallstreet....ruction-2nd-jkia-runway
The African Development Bank (AfDB) has announced the approval of a Sh 16 Billion (US$ 160m) loan for the expansion of Jomo Kenyatta International Airport (JKIA). The project entails construction of a 4.9-km second runway to International Civil Aviation Organization (ICAO) Category II standards, including connecting taxiways, additional parking stands for aircraft, and an air rescue firefighting unit. The existing single runway is operating at Category Flights Conditions level one (CAT-I) with a width of 45m and 4.1 km long. The 2nd runway will support more air traffic and facilitate increased tourism and business travel and expedite a two-way cargo traffic. The project is designed to improve reliability of air transport to and from JKIA by reducing delays at peak hours and costly flight diversions arising from incidences on the existing runway, as well as the configuration of the existing single runway facility that impede the airports operational efficiency. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Rate caps are working somewhere else... Removing them is a mistake... One of UhuruRuto best policies... They should just be relaxed... Lazy bankers should not be allowed to sabotage this noble initiative... Give them 2 years of profit declines... They will start lending lol
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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the deal wrote:Rate caps are working somewhere else... Removing them is a mistake... One of UhuruRuto best policies... They should just be relaxed... Lazy bankers should not be allowed to sabotage this noble initiative... Give them 2 years of profit declines... They will start lending lol Have you looked at the economic/monetary policy of those countries before coming to that conclusion. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,555 Location: nairobi
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Ericsson wrote:the deal wrote:Rate caps are working somewhere else... Removing them is a mistake... One of UhuruRuto best policies... They should just be relaxed... Lazy bankers should not be allowed to sabotage this noble initiative... Give them 2 years of profit declines... They will start lending lol Have you looked at the economic/monetary policy of those countries before coming to that conclusion. Two years is too long a gamble.. The cap simply isn't working in its current state. It would be better to remove the floor on deposits at 70% of CBR. If banks don't succeed then Corporates go down, then SME goes down and the country follows
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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