Wazua
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Kenya Economy Watch
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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https://www.businessdail...2544-11loktv/index.html
The Treasury borrowed an average of Sh2.1 billion every day, racking up Sh126.4 billion in loans between January and February and raising Kenya’s total debt load to Sh5.4 trillion. Latest debt data published by the Central Bank of Kenya (CBK) shows that domestic debt rose by Sh142.6 billion to Sh2.692 trillion in the period, while external debt contracted by Sh22 billion to Sh2.707 trillion. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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What beats me is that when i look at a few rural towns in retrospect, i can see a boom in economic activity. For example, erstwhile sleepy towns like Othaya used to go to sleep literally at 7pm. Nowadays, even in the villages of Othaya sub-county there is activity with nduthis(bodaboda) rambling past 9PM. There are M-pesa shops hapa na pale, one or two wines and spirits pubs and there is electricity.How this modest boom(in many small towns of kenya) is not translating into money into peoples pockets is where kizungumkuti is. There also new buildings coming up in almost all towns in Kenya as we speak."Brandnew second hand cars" are all over the place etc. CBK governor says economy grew by 6+% last year and is bound to grow even further this year...where is the disconnect here? Why are majority of Kenyans not feeling this growth where it matters most?(in their pockets) Dumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Fyatu wrote:What beats me is that when i look at a few rural towns in retrospect, i can see a boom in economic activity. For example, erstwhile sleepy towns like Othaya used to go to sleep literally at 7pm. Nowadays, even in the villages of Othaya sub-county there is activity with nduthis(bodaboda) rambling past 9PM. There are M-pesa shops hapa na pale, one or two wines and spirits pubs and there is electricity.How this modest boom(in many small towns of kenya) is not translating into money into peoples pockets is where kizungumkuti is. There also new buildings coming up in almost all towns in Kenya as we speak."Brandnew second hand cars" are all over the place etc. CBK governor says economy grew by 6+% last year and is bound to grow even further this year...where is the disconnect here? Why are majority of Kenyans not feeling this growth where it matters most?(in their pockets) Can we also talk about defaults? I bank with NIC and the number of cars they have for sale on their site is just out of this world... Now add to that property etc.... possunt quia posse videntur
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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maka wrote:Fyatu wrote:What beats me is that when i look at a few rural towns in retrospect, i can see a boom in economic activity. For example, erstwhile sleepy towns like Othaya used to go to sleep literally at 7pm. Nowadays, even in the villages of Othaya sub-county there is activity with nduthis(bodaboda) rambling past 9PM. There are M-pesa shops hapa na pale, one or two wines and spirits pubs and there is electricity.How this modest boom(in many small towns of kenya) is not translating into money into peoples pockets is where kizungumkuti is. There also new buildings coming up in almost all towns in Kenya as we speak."Brandnew second hand cars" are all over the place etc. CBK governor says economy grew by 6+% last year and is bound to grow even further this year...where is the disconnect here? Why are majority of Kenyans not feeling this growth where it matters most?(in their pockets) Can we also talk about defaults? I bank with NIC and the number of cars they have for sale on their site is just out of this world... Now add to that property etc.... Are you suggesting whatever i am seeing is fueled by debt? I thought the banks stopped lending when rates cap came into effect...there must be someone/somepeople somewhere making money out of all this...I have read in another thread that David Ndii claims it is one family that is eating nyama while most wazuans are suffering from fatique watching the lethargic NSE move sideways day-in day out...other quarters are saying foreign owned fintechs are reaping big with mobile loans that are mostly spent on sportpesa...My question still stands. How come this 6% growth yoy for the past 5 years(wit interruption in 2017) not translating into money in my pocket? Dumb money becomes dumb only when it listens to smart money
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Rank: Veteran Joined: 11/13/2015 Posts: 1,652
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Fyatu wrote:maka wrote:Fyatu wrote:What beats me is that when i look at a few rural towns in retrospect, i can see a boom in economic activity. For example, erstwhile sleepy towns like Othaya used to go to sleep literally at 7pm. Nowadays, even in the villages of Othaya sub-county there is activity with nduthis(bodaboda) rambling past 9PM. There are M-pesa shops hapa na pale, one or two wines and spirits pubs and there is electricity.How this modest boom(in many small towns of kenya) is not translating into money into peoples pockets is where kizungumkuti is. There also new buildings coming up in almost all towns in Kenya as we speak."Brandnew second hand cars" are all over the place etc. CBK governor says economy grew by 6+% last year and is bound to grow even further this year...where is the disconnect here? Why are majority of Kenyans not feeling this growth where it matters most?(in their pockets) Can we also talk about defaults? I bank with NIC and the number of cars they have for sale on their site is just out of this world... Now add to that property etc.... Are you suggesting whatever i am seeing is fueled by debt? I thought the banks stopped lending when rates cap came into effect...there must be someone/somepeople somewhere making money out of all this...I have read in another thread that David Ndii claims it is one family that is eating nyama while most wazuans are suffering from fatique watching the lethargic NSE move sideways day-in day out...other quarters are saying foreign owned fintechs are reaping big with mobile loans that are mostly spent on sportpesa...My question still stands. How come this 6% growth yoy for the past 5 years(wit interruption in 2017) not translating into money in my pocket? Effective growth will be felt if the growth rate is 7.5% and sustained. Unfortunately you can't achieve that rate with the current economic set up. What we have is a debt-fueled growth. The imbalance it is creating will have to be reset. The growth in othaya and other rural towns is not driven by increased productivity(from stats there is no increase in maize or tea production)but from govt spending and bloated workforce. That spending is coming from over-taxing other sectors. The overtaxed sectors then slowdown on consumption and investment. David Ndii was the key author on the public finance chapter of our katiba. He is the one who sent us on this slippery slope of big govt and uncontrolled borrowing.
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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wukan wrote:Fyatu wrote:maka wrote:Fyatu wrote:What beats me is that when i look at a few rural towns in retrospect, i can see a boom in economic activity. For example, erstwhile sleepy towns like Othaya used to go to sleep literally at 7pm. Nowadays, even in the villages of Othaya sub-county there is activity with nduthis(bodaboda) rambling past 9PM. There are M-pesa shops hapa na pale, one or two wines and spirits pubs and there is electricity.How this modest boom(in many small towns of kenya) is not translating into money into peoples pockets is where kizungumkuti is. There also new buildings coming up in almost all towns in Kenya as we speak."Brandnew second hand cars" are all over the place etc. CBK governor says economy grew by 6+% last year and is bound to grow even further this year...where is the disconnect here? Why are majority of Kenyans not feeling this growth where it matters most?(in their pockets) Can we also talk about defaults? I bank with NIC and the number of cars they have for sale on their site is just out of this world... Now add to that property etc.... Are you suggesting whatever i am seeing is fueled by debt? I thought the banks stopped lending when rates cap came into effect...there must be someone/somepeople somewhere making money out of all this...I have read in another thread that David Ndii claims it is one family that is eating nyama while most wazuans are suffering from fatique watching the lethargic NSE move sideways day-in day out...other quarters are saying foreign owned fintechs are reaping big with mobile loans that are mostly spent on sportpesa...My question still stands. How come this 6% growth yoy for the past 5 years(wit interruption in 2017) not translating into money in my pocket? Effective growth will be felt if the growth rate is 7.5% and sustained. Unfortunately you can't achieve that rate with the current economic set up. What we have is a debt-fueled growth. The imbalance it is creating will have to be reset. The growth in othaya and other rural towns is not driven by increased productivity(from stats there is no increase in maize or tea production)but from govt spending and bloated workforce. That spending is coming from over-taxing other sectors. The overtaxed sectors then slowdown on consumption and investment. David Ndii was the key author on the public finance chapter of our katiba. He is the one who sent us on this slippery slope of big govt and uncontrolled borrowing. Asante for this explanation @Wukan Dumb money becomes dumb only when it listens to smart money
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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Fyatu wrote:Does anyone know how mzee Baks is doing in retirement? I expected to see him meeting and greeting wananinchi at the Kenyan open but he was nowhere to be seen. Mkimwona msalimieni sana I wish mbaki was healthy enough and non political and experienced has he is stands out in a public arena and calls the duo mavi ya kuku. Then Ndii would have a chance at it without receiving political barrage over it. ,Behold, a sower went forth to sow;....
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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Economy is recovering from ODM shenanigans in 2017. We will be good by mid next year (2020) now that we are all in the government. 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: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Angelica _ann wrote:Economy is recovering from ODM shenanigans in 2017. We will be good by mid next year (2020) now that we are all in the government. True. Choices have consequences.
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Angelica _ann wrote:Economy is recovering from ODM shenanigans in 2017. We will be good by mid next year (2020) now that we are all in the government. Can I have some of what you're snorting? Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 12/6/2008 Posts: 3,579
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KulaRaha wrote:Angelica _ann wrote:Economy is recovering from ODM shenanigans in 2017. We will be good by mid next year (2020) now that we are all in the government. Can I have some of what you're snorting? As we used to reason when we were kids, the shilling is 99/- for ndorah!  The guy's are trying. All African Presidents are proving to be failures, but at least this ones are doing a little for KES. Ras Kienyeji Man
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Rank: New-farer Joined: 12/28/2018 Posts: 70 Location: Helsingborg, Sweden
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NASA stuff might have distabilized the Kenyan economy, but I personally don't blame the NASA leaders and supporters. We have had our share of problems as a nation and now that the handshake came and rivals are now on the same side of the game, I hope things will get better.
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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@RobertAlai We are going to print more money to cover our UNMEASURED indulgences. Sad!!!! Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Much Know wrote:KulaRaha wrote:Angelica _ann wrote:Economy is recovering from ODM shenanigans in 2017. We will be good by mid next year (2020) now that we are all in the government. Can I have some of what you're snorting? As we used to reason when we were kids, the shilling is 99/- for ndorah! The guy's are trying. All African Presidents are proving to be failures, but at least this ones are doing a little for KES. Your monk on Haile Selassie still reasons like that...that's why he defends the shilling manipulation. Business opportunities are like buses,there's always another one coming
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Angelica _ann wrote:Economy is recovering from ODM shenanigans in 2017. We will be good by mid next year (2020) now that we are all in the government. Sarcasm? The main purpose of the stock market is to make fools of as many people as possible.
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