Wazua
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Kenya Economy Watch
Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Obviously, considering it is so heavily managed by CBK Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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Kenya economy grew by 5.7% in Q1 2018 while inflation averaged 4.5%. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Quote:Kenya cannot afford to take more loans since mega infrastructure projects undertaken by the Government are not making any money to repay debts.
Central Bank Governor Patrick Njoroge said the State had to abandon the model of borrowing and let the private sector drive the economy. Debt mix. Quote:The three were speaking yesterday at the Moody’s fifth Annual East Africa Summit in Nairobi where the ratings firm pointed out that commercial borrowing has contributed to worsening debt affordability. https://www.standardmedi..._twitter_impression=trueThe main purpose of the stock market is to make fools of as many people as possible.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,596
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Yesterday saw the first demos from the Nairobi business community. Tick tock...crunch time  Quote:The government is failing to pay many of its contractors on time, as corruption drains funds for legitimate projects from state coffers, suppliers and officials say.
The late payments are in turn hitting the financial sector, where non-performing loans have jumped this year to their highest level in more than a decade.
"No bank wants to finance you any more especially if you have a contract from the government," said one small business owner who spoke on condition of anonymity.
A second supplier said: "You get disrupted in the middle of (the contract) ... either because you are not speaking to the right people, making commitments to the right people, or your payments may just be delayed."
https://www.the-star.co....s-state-coffers_c1782564
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Rank: Elder Joined: 6/23/2009 Posts: 13,555 Location: nairobi
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wukan wrote:Yesterday saw the first demos from the Nairobi business community. Tick tock...crunch time Quote:The government is failing to pay many of its contractors on time, as corruption drains funds for legitimate projects from state coffers, suppliers and officials say.
The late payments are in turn hitting the financial sector, where non-performing loans have jumped this year to their highest level in more than a decade.
"No bank wants to finance you any more especially if you have a contract from the government," said one small business owner who spoke on condition of anonymity.
A second supplier said: "You get disrupted in the middle of (the contract) ... either because you are not speaking to the right people, making commitments to the right people, or your payments may just be delayed."
https://www.the-star.co....-state-coffers_c1782564
The two men have finished 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: 12/7/2012 Posts: 11,908
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The 0.05% tax on transfers of over .5m is crazy. They need to put an upper limit. 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: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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obiero wrote:wukan wrote:Yesterday saw the first demos from the Nairobi business community. Tick tock...crunch time Quote:The government is failing to pay many of its contractors on time, as corruption drains funds for legitimate projects from state coffers, suppliers and officials say.
The late payments are in turn hitting the financial sector, where non-performing loans have jumped this year to their highest level in more than a decade.
"No bank wants to finance you any more especially if you have a contract from the government," said one small business owner who spoke on condition of anonymity.
A second supplier said: "You get disrupted in the middle of (the contract) ... either because you are not speaking to the right people, making commitments to the right people, or your payments may just be delayed."
https://www.the-star.co....-state-coffers_c1782564
The two men have finished us Their balls are being squeezed by IMF. Life is short. Live passionately.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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sparkly wrote:obiero wrote:wukan wrote:Yesterday saw the first demos from the Nairobi business community. Tick tock...crunch time Quote:The government is failing to pay many of its contractors on time, as corruption drains funds for legitimate projects from state coffers, suppliers and officials say.
The late payments are in turn hitting the financial sector, where non-performing loans have jumped this year to their highest level in more than a decade.
"No bank wants to finance you any more especially if you have a contract from the government," said one small business owner who spoke on condition of anonymity.
A second supplier said: "You get disrupted in the middle of (the contract) ... either because you are not speaking to the right people, making commitments to the right people, or your payments may just be delayed."
https://www.the-star.co....-state-coffers_c1782564
The two men have finished us Their balls are being squeezed by IMF. Kwani how come IMF never did this in the 10 years of Kibaki rule? 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: 12/4/2009 Posts: 10,702 Location: NAIROBI
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Angelica _ann wrote:sparkly wrote:obiero wrote:wukan wrote:Yesterday saw the first demos from the Nairobi business community. Tick tock...crunch time Quote:The government is failing to pay many of its contractors on time, as corruption drains funds for legitimate projects from state coffers, suppliers and officials say.
The late payments are in turn hitting the financial sector, where non-performing loans have jumped this year to their highest level in more than a decade.
"No bank wants to finance you any more especially if you have a contract from the government," said one small business owner who spoke on condition of anonymity.
A second supplier said: "You get disrupted in the middle of (the contract) ... either because you are not speaking to the right people, making commitments to the right people, or your payments may just be delayed."
https://www.the-star.co....-state-coffers_c1782564
The two men have finished us Their balls are being squeezed by IMF. Kwani how come IMF never did this in the 10 years of Kibaki rule? IMF come in when you mess up yourself/your economy. If everything is going on well they stay afar. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Angelica _ann wrote:sparkly wrote:obiero wrote:wukan wrote:Yesterday saw the first demos from the Nairobi business community. Tick tock...crunch time Quote:The government is failing to pay many of its contractors on time, as corruption drains funds for legitimate projects from state coffers, suppliers and officials say.
The late payments are in turn hitting the financial sector, where non-performing loans have jumped this year to their highest level in more than a decade.
"No bank wants to finance you any more especially if you have a contract from the government," said one small business owner who spoke on condition of anonymity.
A second supplier said: "You get disrupted in the middle of (the contract) ... either because you are not speaking to the right people, making commitments to the right people, or your payments may just be delayed."
https://www.the-star.co....-state-coffers_c1782564
The two men have finished us Their balls are being squeezed by IMF. Kwani how come IMF never did this in the 10 years of Kibaki rule? Kibaki had a balanced budget on his second financial year of his regime.The deficits after that were managable.
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Angelica _ann wrote:The 0.05% tax on transfers of over .5m is crazy. They need to put an upper limit. One of the most retrogressive/dumb taxes in the history of taxation. Add the increased excise tax on mobile transactions/fintech and it boggles the mind as to what the bureaucrats wanted to achieve with this. FYI the robinhood tax applies to bank a/c transactions, unit trusts, interbank transfers, buying of land, shares, fx & bonds if done through any banking platform etc. No upper limit needed, it needs to be scrapped. But I guess they will only realise their folly once damage is evident. To add salt to injury KBA came up with a nonsensical proposal to stifle banking transactions of over 1m. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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That robinhood tax is an IMF tax, preparing us for debt default. Mark this post. Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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KulaRaha wrote:That robinhood tax is an IMF tax, preparing us for debt default. Mark this post. If we default even on one single payment that will be the end of this country... possunt quia posse videntur
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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maka wrote:KulaRaha wrote:That robinhood tax is an IMF tax, preparing us for debt default. Mark this post. If we default even on one single payment that will be the end of this country... Reminds me of Cyprus when they taxed bank deposits for "one time only"
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Rank: Member Joined: 2/20/2015 Posts: 467 Location: Nairobi
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whiteowl wrote:maka wrote:KulaRaha wrote:That robinhood tax is an IMF tax, preparing us for debt default. Mark this post. If we default even on one single payment that will be the end of this country... Reminds me of Cyprus when they taxed bank deposits for "one time only" Also in 2015 IMF & ECB proposed a‘haircut’ of all bank deposits in Greece as part of a bailout. Given the doomsday scenario who would Kenya chose to default? The chinese? IMF? Japan? OR a default is a default?
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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kawi254 wrote:whiteowl wrote:maka wrote:KulaRaha wrote:That robinhood tax is an IMF tax, preparing us for debt default. Mark this post. If we default even on one single payment that will be the end of this country... Reminds me of Cyprus when they taxed bank deposits for "one time only" Also in 2015 IMF & ECB proposed a‘haircut’ of all bank deposits in Greece as part of a bailout. Given the doomsday scenario who would Kenya chose to default? The chinese? IMF? Japan? OR a default is a default? Chinese first since they don't give budgetary support. Only finance projects 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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https://www.standardmedi...king-details-behind-sgr
Re-colonialism back Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: New-farer Joined: 2/26/2018 Posts: 17
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Wondering what are some of the best strategies given Kenya's debt position short-term to medium term given possibility of SAP's and shrinking economy? Hold cash in external currency? Bitcoin? How are you preparing for the ballooning debt risk? Or am I just being paranoid. The number of events over the past 6 months do not inspire confidence.
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Convert KES holding in USD...because CBK may not be able to defend once default looms. Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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KulaRaha wrote:Convert KES holding in USD...because CBK may not be able to defend once default looms. There will be no default;Gok has began cost cutting measures,freeze in projects and raising taxes to repay the debt. You heard last week no starting new projects before completion of the existing ones. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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