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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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MugundaMan wrote:Fyatu wrote:
I am a first hand witness of this project. People said that Jubilee will forget about LAPSSET once Mzee Kibaki is gone but alas the progress is there for all to see.
I am today making a call on Kuruwitu stock listed on NSE/casino. Kuruwitu sits on prime land hapo LAMU port. They have zero madeni on their books.Sooner or later the value of this zombie stock is gonna be unlocked violently.
 Very funny. Good thinking but Kurwitu has not traded a single share in ages. Yet another mkora company that is typical in the casino. Perhaps that was the strategy of the geniuses behind it. Fleece the public at IPO, salt away those funds, then wait for the stock to drop, then rebuy everything and refuse to sell even one share. And to avert any suspicion from CMA, do not jack the ask price too high. Just leave it at a stable place for years as you wait for the LAPSETT land to appreciate in value. Kurwitu listed by introduction not by IPO Life is short. Live passionately.
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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sparkly wrote:MugundaMan wrote:Fyatu wrote:
I am a first hand witness of this project. People said that Jubilee will forget about LAPSSET once Mzee Kibaki is gone but alas the progress is there for all to see.
I am today making a call on Kuruwitu stock listed on NSE/casino. Kuruwitu sits on prime land hapo LAMU port. They have zero madeni on their books.Sooner or later the value of this zombie stock is gonna be unlocked violently.
Very funny. Good thinking but Kurwitu has not traded a single share in ages. Yet another mkora company that is typical in the casino. Perhaps that was the strategy of the geniuses behind it. Fleece the public at IPO, salt away those funds, then wait for the stock to drop, then rebuy everything and refuse to sell even one share. And to avert any suspicion from CMA, do not jack the ask price too high. Just leave it at a stable place for years as you wait for the LAPSETT land to appreciate in value. Kurwitu listed by introduction not by IPO Sparkles, Please learn the meaning of the word perhaps.  Cordially, MM
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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MugundaMan wrote:sparkly wrote:MugundaMan wrote:Fyatu wrote:
I am a first hand witness of this project. People said that Jubilee will forget about LAPSSET once Mzee Kibaki is gone but alas the progress is there for all to see.
I am today making a call on Kuruwitu stock listed on NSE/casino. Kuruwitu sits on prime land hapo LAMU port. They have zero madeni on their books.Sooner or later the value of this zombie stock is gonna be unlocked violently.
Very funny. Good thinking but Kurwitu has not traded a single share in ages. Yet another mkora company that is typical in the casino. Perhaps that was the strategy of the geniuses behind it. Fleece the public at IPO, salt away those funds, then wait for the stock to drop, then rebuy everything and refuse to sell even one share. And to avert any suspicion from CMA, do not jack the ask price too high. Just leave it at a stable place for years as you wait for the LAPSETT land to appreciate in value. Kurwitu listed by introduction not by IPO Sparkles, Please learn the meaning of the word perhaps. Cordially, MM More important to differentiate between IPO and Introduction Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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https://kenyanwallstreet...ne-to-ksh22b-in-august/
Data from CBK shows that diaspora remittances fell for a second straight month to USD 214 million in August, which was a 4.5 percent decline from USD 224 million recorded in July. However, the 12-month cumulative inflows to August 2019 increased to USD 2,776 million from USD 2,550 million in the 12 months to August 2018, reflecting a growth of 8.9 percent. Diaspora remittances account for the largest share of Kenya’s foreign inflows. North America, Europe, and the rest of the world accounted for 52, 20, and 28 percent respectively of the total remittances in August 2019. 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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MugundaMan wrote:Fyatu wrote:
I am a first hand witness of this project. People said that Jubilee will forget about LAPSSET once Mzee Kibaki is gone but alas the progress is there for all to see.
I am today making a call on Kuruwitu stock listed on NSE/casino. Kuruwitu sits on prime land hapo LAMU port. They have zero madeni on their books.Sooner or later the value of this zombie stock is gonna be unlocked violently.
Very funny. Good thinking but Kurwitu has not traded a single share in ages. Yet another mkora company that is typical in the casino. Perhaps that was the strategy of the geniuses behind it. Fleece the public at IPO, salt away those funds, then wait for the stock to drop, then rebuy everything and refuse to sell even one share. And to avert any suspicion from CMA, do not jack the ask price too high. Just leave it at a stable place for years as you wait for the LAPSETT land to appreciate in value. @Mugundaman you should go visit Lamu and do some " Due dilligence" on land there. Once petro dollars start flowing-in, don't be caught without a piece of land in Lamu.By then you will be needing a second home somewhere with more warmer weather. Dumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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sparkly wrote:MugundaMan wrote:sparkly wrote:MugundaMan wrote:Fyatu wrote:
I am a first hand witness of this project. People said that Jubilee will forget about LAPSSET once Mzee Kibaki is gone but alas the progress is there for all to see.
I am today making a call on Kuruwitu stock listed on NSE/casino. Kuruwitu sits on prime land hapo LAMU port. They have zero madeni on their books.Sooner or later the value of this zombie stock is gonna be unlocked violently.
Very funny. Good thinking but Kurwitu has not traded a single share in ages. Yet another mkora company that is typical in the casino. Perhaps that was the strategy of the geniuses behind it. Fleece the public at IPO, salt away those funds, then wait for the stock to drop, then rebuy everything and refuse to sell even one share. And to avert any suspicion from CMA, do not jack the ask price too high. Just leave it at a stable place for years as you wait for the LAPSETT land to appreciate in value. Kurwitu listed by introduction not by IPO Sparkles, Please learn the meaning of the word perhaps. Cordially, MM More important to differentiate between IPO and Introduction His defence using perhaps makes it even worse 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: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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sparkly wrote:MugundaMan wrote:sparkly wrote:MugundaMan wrote:Fyatu wrote:
I am a first hand witness of this project. People said that Jubilee will forget about LAPSSET once Mzee Kibaki is gone but alas the progress is there for all to see.
I am today making a call on Kuruwitu stock listed on NSE/casino. Kuruwitu sits on prime land hapo LAMU port. They have zero madeni on their books.Sooner or later the value of this zombie stock is gonna be unlocked violently.
Very funny. Good thinking but Kurwitu has not traded a single share in ages. Yet another mkora company that is typical in the casino. Perhaps that was the strategy of the geniuses behind it. Fleece the public at IPO, salt away those funds, then wait for the stock to drop, then rebuy everything and refuse to sell even one share. And to avert any suspicion from CMA, do not jack the ask price too high. Just leave it at a stable place for years as you wait for the LAPSETT land to appreciate in value. Kurwitu listed by introduction not by IPO Sparkles, Please learn the meaning of the word perhaps. Cordially, MM More important to differentiate between IPO and Introduction Says who? Wazoo's resident E-student and his E-student cheerleaders?
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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Fyatu wrote:MugundaMan wrote:Fyatu wrote:
I am a first hand witness of this project. People said that Jubilee will forget about LAPSSET once Mzee Kibaki is gone but alas the progress is there for all to see.
I am today making a call on Kuruwitu stock listed on NSE/casino. Kuruwitu sits on prime land hapo LAMU port. They have zero madeni on their books.Sooner or later the value of this zombie stock is gonna be unlocked violently.
Very funny. Good thinking but Kurwitu has not traded a single share in ages. Yet another mkora company that is typical in the casino. Perhaps that was the strategy of the geniuses behind it. Fleece the public at IPO, salt away those funds, then wait for the stock to drop, then rebuy everything and refuse to sell even one share. And to avert any suspicion from CMA, do not jack the ask price too high. Just leave it at a stable place for years as you wait for the LAPSETT land to appreciate in value. @Mugundaman you should go visit Lamu and do some " Due dilligence" on land there. Once petro dollars start flowing-in, don't be caught without a piece of land in Lamu.By then you will be needing a second home somewhere with more warmer weather. Tuko bradza, tuko. Hata Naivasha tuko. I will also go hunting in Malaba soon. DC ni ground zero tu
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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Kenya ranked 3 globally on trade growth potential  https://mobile.nation.co...8988-dn4tt5z/index.html
Very amusing that Ericsson conveniently forgets to post such stories.
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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VVS, Good luck betting that SGR will fail papa. Uganda busy demarcating. TZ's is in high gear. Hata 2029 ni mbali papa. You will be shocked at how much Africa's SGR networks will be integrated by then. Your friend Oxford Ndii will be whimpering and wailing about something else by then.
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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I don't post PR and inconsistent stories Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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More "PR" for ya You must be DELUSIONAL if you think KNBS, CBK, WB, IMF. Xinhua, African Development Bank and Mugundaman are all wrong and Ericsonn and his tiny gaggle of peni mbili opinion-bila-credible-evidence doomsayers are all right Quote: Chinese wares offer thriving business amid Kenya's construction boomhttp://www.xinhuanet.com...9-08/31/c_138354060.htm
NAIROBI, Aug. 31 (Xinhua) -- Plastic water pipes, bags of cement, floor and wall tiles, kitchen sinks and wooden doors are some of the items displayed outside many shops in Kitengela, a fast-growing suburb south of Kenya's capital Nairobi.Looking at the items as one strolls in the suburb, one may think that the whole area is under construction.But this is the norm in most suburbs across Nairobi and the east African nation. The business has become the most popular in Kenya, including in rural areas, fanned by a thriving construction sector and ready imported items from China. The latter has injected new life in the business that in yesteryears was in the hands of a few individuals. The affordable Chinese-made construction materials have enabled many join the trade amid a booming real estate sector.Taps, hammers, saws, tiles, water pipes, sinks, doors, locks, ceiling boards, nails and electrical materials are some of the popular items sourced from China. "This is a good business because the market is there and affordable prices of the Chinese wares make the goods move faster," Edward Mugo, who owns a construction items shop in Kitengela, said in a recent interview. Mugo sources the items for sale from shops in Nairobi's Industrial Area, where there are several dealers who import them from China. "The Chinese items have really revolutionized this industry and brought business in our hands," said Mugo who has been in the business for four years. Initially, most of the items used to be imported from Europe and India. "But we never had plastic water pipes for instance. The plastic pipes from China have now taken over the market because they are not only affordable but also long-lasting and are not prone to rust," he said. He sells a five-meter water pipe at 650 shillings (6.3 U.S. dollars), around half the cost to buy the same-length steel water pipes. Besides the pipes, he isolates plastic taps as other products from China that have addressed the local Kenyan realities. "Residents in this area and many others in Nairobi use saline water from boreholes which corrodes metal taps over time. Plastic taps, gate valves and other related items from China are therefore very popular with home owners," he said. One needs between 3,500 dollars and 5,000 dollars to start a construction items shop, noted Mugo but acknowledged competition is tough in the sector. "With so many shops around, you really need to stand out by selling diversified items to attract customers," he said. Joseph Kitilu, who sells only bathroom and kitchen construction wares, noted the affordable imported items helped him specialize. "There are people who have specialized in tiles, others on doors and locks while myself on pipes and taps and related items. The business opportunities are huge," he said in phone interview. Kenya's construction sector grew by 5.6 percent in the first quarter of this year, a slight decline compared to a growth of 6.6 per cent in the corresponding quarter of 2018, according to the Kenya National Bureau of Statistics (KNBS). However, the value of imported construction related materials rose to 122 million dollars in the first three months of this year, up from 70 million dollars in a similar quarter in 2018, KNBS data shows.Ernest Manuyo, a business management lecturer at Pioneer Institute in Nairobi, observed that the affordable items from China now drive Kenya's construction sector."The fact that they are readily available and affordable gives builders power to access them. They have certainly helped stabilize construction costs as prices of things like sand and stones rise," he said. According to him, the Chinese have studied and understood the African market, enabling them to deliver items that meet needs of local people.
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Rank: Member Joined: 8/17/2010 Posts: 110 Location: Nairobi
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MugundaMan wrote:More "PR" for ya You must be DELUSIONAL if you think KNBS, CBK, WB, IMF. Xinhua, African Development Bank and Mugundaman are all wrong and Ericsonn and his tiny gaggle of peni mbili opinion-bila-credible-evidence doomsayers are all right Quote: Chinese wares offer thriving business amid Kenya's construction boomhttp://www.xinhuanet.com...9-08/31/c_138354060.htm
NAIROBI, Aug. 31 (Xinhua) -- Plastic water pipes, bags of cement, floor and wall tiles, kitchen sinks and wooden doors are some of the items displayed outside many shops in Kitengela, a fast-growing suburb south of Kenya's capital Nairobi.Looking at the items as one strolls in the suburb, one may think that the whole area is under construction.But this is the norm in most suburbs across Nairobi and the east African nation. The business has become the most popular in Kenya, including in rural areas, fanned by a thriving construction sector and ready imported items from China. The latter has injected new life in the business that in yesteryears was in the hands of a few individuals. The affordable Chinese-made construction materials have enabled many join the trade amid a booming real estate sector.Taps, hammers, saws, tiles, water pipes, sinks, doors, locks, ceiling boards, nails and electrical materials are some of the popular items sourced from China. "This is a good business because the market is there and affordable prices of the Chinese wares make the goods move faster," Edward Mugo, who owns a construction items shop in Kitengela, said in a recent interview. Mugo sources the items for sale from shops in Nairobi's Industrial Area, where there are several dealers who import them from China. "The Chinese items have really revolutionized this industry and brought business in our hands," said Mugo who has been in the business for four years. Initially, most of the items used to be imported from Europe and India. "But we never had plastic water pipes for instance. The plastic pipes from China have now taken over the market because they are not only affordable but also long-lasting and are not prone to rust," he said. He sells a five-meter water pipe at 650 shillings (6.3 U.S. dollars), around half the cost to buy the same-length steel water pipes. Besides the pipes, he isolates plastic taps as other products from China that have addressed the local Kenyan realities. "Residents in this area and many others in Nairobi use saline water from boreholes which corrodes metal taps over time. Plastic taps, gate valves and other related items from China are therefore very popular with home owners," he said. One needs between 3,500 dollars and 5,000 dollars to start a construction items shop, noted Mugo but acknowledged competition is tough in the sector. "With so many shops around, you really need to stand out by selling diversified items to attract customers," he said. Joseph Kitilu, who sells only bathroom and kitchen construction wares, noted the affordable imported items helped him specialize. "There are people who have specialized in tiles, others on doors and locks while myself on pipes and taps and related items. The business opportunities are huge," he said in phone interview. Kenya's construction sector grew by 5.6 percent in the first quarter of this year, a slight decline compared to a growth of 6.6 per cent in the corresponding quarter of 2018, according to the Kenya National Bureau of Statistics (KNBS). However, the value of imported construction related materials rose to 122 million dollars in the first three months of this year, up from 70 million dollars in a similar quarter in 2018, KNBS data shows.Ernest Manuyo, a business management lecturer at Pioneer Institute in Nairobi, observed that the affordable items from China now drive Kenya's construction sector."The fact that they are readily available and affordable gives builders power to access them. They have certainly helped stabilize construction costs as prices of things like sand and stones rise," he said. According to him, the Chinese have studied and understood the African market, enabling them to deliver items that meet needs of local people. You are the best. Let me leave this link here to add spice to your desertations. https://youtu.be/f5SE47Xjx2Q
When will you open a satire school? I will be your 1st student.
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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Conquestador wrote:You are the best. Let me leave this link here to add spice to your desertations. https://youtu.be/f5SE47Xjx2Q
When will you open a satire school? I will be your 1st student. What planet are you living on my mbuloddah? This is a thread about the RED HAWTT Kenyan economy.  With an annual housing deficit of 250k homes, surely you must be hallucinating to think that scenario in China is replicating itself in Kenya, no?
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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MugundaMan wrote:VituVingiSana wrote:MugundaMan wrote:VVS, The day Oxford Ndii will ever be proved right is the day John Maynard Keynes will roll over in his grave. 10 years from now when SGR is at Kisangani and Juba and SGR II is well on its way from Lamu to Lodwar, Ndii will still be crying that SGR and Kenya in general will "collapse soon." Let's discuss facts vs innuendo. OK but so far (1 year on) Ndii has been right, no? JMK might have rolled 36 degrees. Sure we can wait another 9 years for the full 360. Just as a FYI, we do subsidize the SGR in many ways that aren't shown as subsidies in SGR's financials. 1) Forced movement of goods by SGR vs the old railway and trucks. It's like forcing people to live in Kiambu even though DC might be cheaper. Flying KQ instead of Fly540. 2) Railway Development Levy on lorries and fuel ironically to support the SGR which is a competitor. That's like you paying property tax on your flats in DC to subsidize someone building flats in Kiambu! Or taxing fuel used by Fly540 and giving the money to KQ to fly the same route! 3) Was there a feasibility study for MSA-KSM/Malaba? If yes, where is it? If the SGR's feasibility study showed it made sense then it seems rather short-sighted to stop the SGR at Naivasha. Please bear in mind the whole deal seems to have been single sourced from China from the (unreleased?) feasibility study (MSA-NBO) to construction to financing. Win-Win for the Chinese. 4) Kisangani in 10 years (2029)? I am ready to take a bet lakini how will we settle it? VVS, Like our good friend Oxford Ndii (who has his owners abroad in Britannia) I can tell that you are definitely an A student I will ask you the same thing I would ask Ndii 1) Who said public goods are supposed to turn a profit? How much have we earned in profits from Uhuru Highway? Sasumua dam? Ruai Sewerage Works? And please do not mention politics or parties in your answer. Politicians can say anything at election time, they can even promise you laptops that fly you to the moon. SGR is an economic project that is a public good. How many trillions of shillings in economywide spillover benefits in terms of jobs created (over 40k in direct jobs in phase one construction alone), efficiencies generated, domestic tourist numbers in the coast boosted, etc etc -the list goes on and on- has SGR generated? Ndii is VERY QUIET when prodded to respond to this. 2) On debt. Who lied to Oxford Ndii that at the macro level an economy should not borrow to develop? Marshall Plan anyone? Financing of early America by the European banking dynasties anyone? Rebuilding of Japan after the war, anyone? Wake us up when GoK DEFAULTS on that debt, which so far, all the agencies domestically and abroad including the WB and IMF say is sustainable.. Especially given our red hawtt 5% GDP growth rates. BTW how did you guys think we are growing at such rates without both borrowing and SGR? By magic or michezo za kuigiza? 3) About sijui feasibility studies, RDL and forced use LOL! Have you been to other economies? They are WORSE monopolies that force their citizens to do all sorts of things. Obamacare for example is FORCED HEALTHCARE upende usipende. You can actually get fined for not enrolling. Yet I do not see Oxford Ndii complaining there. Try applying for KCB to have a license to open a branch in NYC ...waaaapi ? US Citizens are FORCED to use only allowable domestic banks. Look at the license to fly into NYC for KQ. How many decades did it take to come through? Even then, can KQ fly connecting flights to other US cities? Nope! Because the US population is FORCED by default and by law to monopolise domestic airlines. Whoever lied to you guys that such economies are capitalistic in nature deluded you. These economies are as socialist and anti-competition as it gets! But they have propagandised the world into thinking they are the beacons of not only capitalism and democracy but human rights (even as they detain without trial at Guantanamo Bay and block all foreign competition from competing in their domestic markets fairly.) Look at Europe and farm subsidies. Does that sound like capitalism to you ? Mambo za feasibility studies na RDL are small operational matters that are water under the bridge bradza. Much like those who complain all day that SGR seats are not comfy. You cannot please everybody all the time. Cha muhimu is that SGR continues to grow in volumes daily! SGR will reach Kisangani and even beyond my buroddah. You have failed to see the bigger picture. SGR is not just a domestic project but a key plank of OBOR's master plan. Do not let the peni mbili news stories and media wailing fool ya. Remember when media cried for weeks that SGR was dead and would stop at Naivasha because Chinaman "refused" after PORK's "failed" visited to Beijing waaapi? Oxford Ndii was VERY HAPPY with the news. Yet SGR will plow on all the way to Uganda and then Kisangani. Watch this space. We can settle with a mbuzi and I hope you won't deliver one of the "hardwood variety" Shalom Let's start with #1 Ndii does say in an interview that SGR has missed on both the financial and economic fronts. Financial means turning a profit. It's still Year 2 so it may be early to hope for a profit but it does not seem optimistic. I hope we can see some audited statements soon. In 2014, he suggested we choose the much cheaper option of rehabilitating the NGR. Jobs - The 40k jobs were a short-term boost. How many of those involved skills other than mtu-ya-mkono? The question is how many permanent jobs did the SGR create? Then ask how many NET permanent jobs did the SGR create? Forcing freight from road transport and NGR also caused a loss of jobs in those sectors/entities/firms. IMHO, a dual road combined with an upgraded NGR would have been a better option for us. I have no info on Uhuru Highway, Sasamua Dam, etc. All projects should have a thorough cost-benefit analysis done. Mistakes will happen but IMHO the unviability of the SGR wasn't a mistake but deliberate. 2) Debt by itself is neither bad nor good. What can be problematic is debt that is unsustainable. Debt service for a public project that does not cover its financial or economic cost means it will be funded from the public purse which means something else gets under-funded be it education or a road. Was building the SGR (vs a dual highway + NGR) the best course of action for Kenya? IMHO, no. 3) What happens in other countries should be looked at but merely as a guide. Rather than the USA, I prefer we look at Singapore or other Asian countries which were also "poor" in the 60s. Regarding KCB opening a branch in the US. It's an economic decision. Unless KCB can attract large numbers of the diaspora, a US branch/subsidiary may not make sense given the level of competition. Mizuho/Sumitomo/MFUG from Japan catering to Japanese businesses eg Toyota, Honda, etc Societe General/Natixis/Credit Agricole to the French Bank Leumi of Israel has a presence in the USA but there's a large Israeli/Jewish population it can tap into. State Bank of India has a presence catering to the Indian diaspora and businesses. https://www.baruch.cuny....reignbanks-domestic.htm
" Foreign banking institutions, which include foreign bank branches, agencies, and U.S.-chartered bank subsidiaries, hold approximately one-fourth of all commercial banking assets in the United States." https://www.newyorkfed.o...fed/fedpoint/fed26.html
As for what other countries subsidize or not is generally not relevant to this discussion. If you were comparing KQ to Air Tanzania or Ethihad or Ethiopia then we could discuss subsidies. This is not a discussion about capitalism or socialism either. Even if it was, it would be prudent for any economy to get the best (financial, economic, social) value for any project. OBOR - This is a China led project primarily designed to benefit them. If others benefit then so be it but that's not the primary aim. Finally, Kisangani. You said the SGR will reach Kisangani in 10 years so I am holding you to it. As I said, I am more interested in discussing facts and having a mature discussion that enlightens all that participate in it. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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MugundaMan wrote:VVS, Good luck betting that SGR will fail papa. Uganda busy demarcating. TZ's is in high gear. Hata 2029 ni mbali papa. You will be shocked at how much Africa's SGR networks will be integrated by then. Your friend Oxford Ndii will be whimpering and wailing about something else by then. Please set up an annual reminder on your phone until 2029 and feel free to remind me where the SGR has reached every year. I am not bothered with TZ's SGR which is their project. If anything it is a competitor to ours. I want to see your updates on our section from Naivasha to Kisangani. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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MugundaMan wrote:More "PR" for ya You must be DELUSIONAL if you think KNBS, CBK, WB, IMF. Xinhua, African Development Bank and Mugundaman are all wrong and Ericsonn and his tiny gaggle of peni mbili opinion-bila-credible-evidence doomsayers are all right Quote: Chinese wares offer thriving business amid Kenya's construction boomhttp://www.xinhuanet.com...9-08/31/c_138354060.htm
NAIROBI, Aug. 31 (Xinhua) -- Plastic water pipes, bags of cement, floor and wall tiles, kitchen sinks and wooden doors are some of the items displayed outside many shops in Kitengela, a fast-growing suburb south of Kenya's capital Nairobi.Looking at the items as one strolls in the suburb, one may think that the whole area is under construction.But this is the norm in most suburbs across Nairobi and the east African nation. The business has become the most popular in Kenya, including in rural areas, fanned by a thriving construction sector and ready imported items from China. The latter has injected new life in the business that in yesteryears was in the hands of a few individuals. The affordable Chinese-made construction materials have enabled many join the trade amid a booming real estate sector.Taps, hammers, saws, tiles, water pipes, sinks, doors, locks, ceiling boards, nails and electrical materials are some of the popular items sourced from China. "This is a good business because the market is there and affordable prices of the Chinese wares make the goods move faster," Edward Mugo, who owns a construction items shop in Kitengela, said in a recent interview. Mugo sources the items for sale from shops in Nairobi's Industrial Area, where there are several dealers who import them from China. "The Chinese items have really revolutionized this industry and brought business in our hands," said Mugo who has been in the business for four years. Initially, most of the items used to be imported from Europe and India. "But we never had plastic water pipes for instance. The plastic pipes from China have now taken over the market because they are not only affordable but also long-lasting and are not prone to rust," he said. He sells a five-meter water pipe at 650 shillings (6.3 U.S. dollars), around half the cost to buy the same-length steel water pipes. Besides the pipes, he isolates plastic taps as other products from China that have addressed the local Kenyan realities. "Residents in this area and many others in Nairobi use saline water from boreholes which corrodes metal taps over time. Plastic taps, gate valves and other related items from China are therefore very popular with home owners," he said. One needs between 3,500 dollars and 5,000 dollars to start a construction items shop, noted Mugo but acknowledged competition is tough in the sector. "With so many shops around, you really need to stand out by selling diversified items to attract customers," he said. Joseph Kitilu, who sells only bathroom and kitchen construction wares, noted the affordable imported items helped him specialize. "There are people who have specialized in tiles, others on doors and locks while myself on pipes and taps and related items. The business opportunities are huge," he said in phone interview. Kenya's construction sector grew by 5.6 percent in the first quarter of this year, a slight decline compared to a growth of 6.6 per cent in the corresponding quarter of 2018, according to the Kenya National Bureau of Statistics (KNBS). However, the value of imported construction related materials rose to 122 million dollars in the first three months of this year, up from 70 million dollars in a similar quarter in 2018, KNBS data shows.Ernest Manuyo, a business management lecturer at Pioneer Institute in Nairobi, observed that the affordable items from China now drive Kenya's construction sector."The fact that they are readily available and affordable gives builders power to access them. They have certainly helped stabilize construction costs as prices of things like sand and stones rise," he said. According to him, the Chinese have studied and understood the African market, enabling them to deliver items that meet needs of local people. Is Kenya IMPORTING all these from China and then Mombasa-Nairobi using the Chinese designed, funded and built SGR? How many local factories have been established to make these products in high demand? What's the ratio of imports/exports on the SGR? Why Chinese Manufacturing Wins https://www.youtube.com/watch?v=E7Jfrzkmzyc
Facts. Please. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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vvs wrote:Let's start with #1 Ndii does say in an interview that SGR has missed on both the financial and economic fronts. Financial means turning a profit. It's still Year 2 so it may be early to hope for a profit but it does not seem optimistic. I hope we can see some audited statements soon. In 2014, he suggested we choose the much cheaper option of rehabilitating the NGR. Jobs - The 40k jobs were a short-term boost. How many of those involved skills other than mtu-ya-mkono? The question is how many permanent jobs did the SGR create? Then ask how many NET permanent jobs did the SGR create? Forcing freight from road transport and NGR also caused a loss of jobs in those sectors/entities/firms. IMHO, a dual road combined with an upgraded NGR would have been a better option for us. I have no info on Uhuru Highway, Sasamua Dam, etc. All projects should have a thorough cost-benefit analysis done. Mistakes will happen but IMHO the unviability of the SGR wasn't a mistake but deliberate. 2) Debt by itself is neither bad nor good. What can be problematic is debt that is unsustainable. Debt service for a public project that does not cover its financial or economic cost means it will be funded from the public purse which means something else gets under-funded be it education or a road. Was building the SGR (vs a dual highway + NGR) the best course of action for Kenya? IMHO, no. 3) What happens in other countries should be looked at but merely as a guide. Rather than the USA, I prefer we look at Singapore or other Asian countries which were also "poor" in the 60s. Regarding KCB opening a branch in the US. It's an economic decision. Unless KCB can attract large numbers of the diaspora, a US branch/subsidiary may not make sense given the level of competition. Mizuho/Sumitomo/MFUG from Japan catering to Japanese businesses eg Toyota, Honda, etc Societe General/Natixis/Credit Agricole to the French Bank Leumi of Israel has a presence in the USA but there's a large Israeli/Jewish population it can tap into. State Bank of India has a presence catering to the Indian diaspora and businesses. https://www.baruch.cuny....reignbanks-domestic.htm
" Foreign banking institutions, which include foreign bank branches, agencies, and U.S.-chartered bank subsidiaries, hold approximately one-fourth of all commercial banking assets in the United States." https://www.newyorkfed.o...fed/fedpoint/fed26.html
As for what other countries subsidize or not is generally not relevant to this discussion. If you were comparing KQ to Air Tanzania or Ethihad or Ethiopia then we could discuss subsidies. This is not a discussion about capitalism or socialism either. Even if it was, it would be prudent for any economy to get the best (financial, economic, social) value for any project. OBOR - This is a China led project primarily designed to benefit them. If others benefit then so be it but that's not the primary aim. Finally, Kisangani. You said the SGR will reach Kisangani in 10 years so I am holding you to it. As I said, I am more interested in discussing facts and having a mature discussion that enlightens all that participate in it. Ha ha ha ha ha, are these your SERIOUS responses ? My fren you are very funny! 1. You STILL do no seem to have wrapped your mind around what public goods are (Economics 101) 2. You seem not to understand very basic economic concepts like spillover costs and spillover benefits, the multiplier effect and why infra led growth - the Chinese model- has lifted well over 500 million people out of poverty in China at the fastest rate of any economy in human history. And why said model is working beautifully for Africa as our GDP growth rates have shown. 3. You still do not understand how the US economy and banking system works. Ati KCB is not in NYC because there are no customers there? . My friend there are over 1 m Kenyans in USA!! Where do you think our largest source of forex comes from? Ati pointing to obscure tiny shell banks and b2b banks as examples..LOL!TELL US how many ORDINARAY AMERICANS ..over 300 milllion of them ..bank with any of those banks. The US banking system is as good as a CLOSED MONOPOLY so please do not tell us GARBAGE about SGR should not have rules about cargo deliveries! This the problem with debating someone with little formal economics training. Those are the fellows Oxford Ndii loves to be on his bandwagon. So he can bamboozle them.with laughable falsities ati SGR must turn a a cash profit in our lifetime, without asking for the same from public goods like Thika Superhighway, Nyali Bridge and Outer ring road
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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VituVingiSana wrote:Is Kenya IMPORTING all these from China and then Mombasa-Nairobi using the Chinese designed, funded and built SGR? How many local factories have been established to make these products in high demand? What's the ratio of imports/exports on the SGR? Why Chinese Manufacturing Wins https://www.youtube.com/watch?v=E7Jfrzkmzyc
Facts. Please. VVS, I now realise that you are truly an economic illiterate. So your whooooole thesis and prescription against our blistering economic growth is "let us ban imports" LOL LOL LOL! Who lied to you that any economy can survive without imports? The largest one in the world is the biggest net importer. Sorry to break the news to you but ANY developing economy has to import to develop. Infra related imports especially, before it can get advanced enough to be an export powerhouse of advanced industrial goods and technology. Or did you think you would start manufacturing semiconductors without SGR to transport them fast to the rest of the globe? LOL LOL! The funny thing is the Oxford Ndiis of this world who produce NOTHING for the economy of Kenya besides garbage articles in papers will be the FIRST to cry LOUDLY that Kenya should build cars (without building "expensive" SGRs) yet he himself sits home farting drinking fombe and producing zero. Ask him to start producing cars and he will write you an OXFORD QUALITY insha (a la our friend FRM)on the reasons WHY it will never be possible in Kenya
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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MugundaMan wrote:VituVingiSana wrote:Is Kenya IMPORTING all these from China and then Mombasa-Nairobi using the Chinese designed, funded and built SGR? How many local factories have been established to make these products in high demand? What's the ratio of imports/exports on the SGR? Why Chinese Manufacturing Wins https://www.youtube.com/watch?v=E7Jfrzkmzyc
Facts. Please. VVS, I now realise that you are truly an economic illiterate. So your whooooole thesis and prescription against our blistering economic growth is "let us ban imports" LOL LOL LOL! Who lied to you that any economy can survive without imports? The largest one in the world is the biggest net importer. Sorry to break the news to you but ANY developing economy has to import to develop. Infra related imports especially, before it can get advanced enough to be an export powerhouse of advanced industrial goods and technology. Or did you think you would start manufacturing semiconductors without SGR to transport them fast to the rest of the globe? LOL LOL! The funny thing is the Oxford Ndiis of this world who produce NOTHING for the economy of Kenya besides garbage articles in papers will be the FIRST to cry LOUDLY that Kenya should build cars (without building "expensive" SGRs) yet he himself sits home farting drinking fombe and producing zero. Ask him to start producing cars and he will write you an OXFORD QUALITY insha (a la our friend FRM)on the reasons WHY it will never be possible in Kenya Where did I say "let us ban imports?"I did think we would engage in a sensible discussion but - you said I now realise that you are truly an economic illiterate - I was mistaken. Thank you for the engagement thus far. Since I am, in your words "an economic illiterate" then I take my leave.  I wish you well. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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