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Kenya Economy Watch
Rank: Member Joined: 6/26/2008 Posts: 399
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Angelica _ann wrote:xtina wrote:Economic growth jumps to 8-year high of 6.3pc  THURSDAY, APRIL 25, 2019 22:28 The Central Bank of Kenya The Central Bank of Kenya. FILE PHOTO | NMG Facebook Twitter LinkedIn Kenya’s economy expanded at the fastest rate in eight years last year largely on increased agricultural production. However, economists have warned that the robust growth could be hurt by poorly-distributed, below-normal rainfall in 2019. The Kenya National Bureau of Statistics (KNBS) Thursday said the economy expanded 6.3 percent in 2018, the highest since 8.4 percent in 2010, beating majority of projections which ranged between 5.8 and 6.1 percent. The government insisted last year’s growth will be maintained this year amid rising concern that delayed March-April-May rainfall season may shave off as much as a percentage of the forecast growth. Treasury Secretary Henry Rotich told reporters after the launch of the annual economic performance report in Nairobi that the economy “remains resilient” and will expand by at least six percent. “It is still early to predict on its (drought) impact on agricultural production,” Mr Rotich said. The 2018 growth rebounded from a five-year low of 4.9 percent in 2017 after economic activities were hurt by a biting drought in the first half, which hit farming activities hardest, and a bruising presidential contest that slowed investment. “The growth (in 2018) was principally attributable to increased agricultural production, accelerated manufacturing activities, sustained growth in transportation and vibrant service sector activities. Agricultural activities benefited from sufficient rains that were well spread throughout the country,” KNBS said in the survey. Agriculture and related activities such as fisheries and forestry, the mainstay of the economy accounting for more than 34 percent of the gross domestic product (GDP), recovered sharply to grow 6.4 percent in 2018 from a revised 1.9 percent a year earlier. The growth in agricultural production, which accounts for the largest share of jobs in Kenya, in 2018 was the highest since 2010 when it notched 10.1 percent. Sufficient “long-rains” in 2018 also spurred electricity supply — a key enabler of economic activities — to an estimated 10.5 percent growth which is the highest since 13.3 percent in 2011. Manufacturing, the second largest creator of largely informal jobs, also recovered from a five-year low of 0.5 percent in 2017 to grow by 4.2 percent last year — the highest since 7.2 percent in 2011. This is great news. Jubilee oyee. red haaaaaawwwwwt as one noisemaker likes to say 
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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xtina wrote:Economic growth jumps to 8-year high of 6.3pc THURSDAY, APRIL 25, 2019 22:28 The Central Bank of Kenya The Central Bank of Kenya. FILE PHOTO | NMG Facebook Twitter LinkedIn Kenya’s economy expanded at the fastest rate in eight years last year largely on increased agricultural production. However, economists have warned that the robust growth could be hurt by poorly-distributed, below-normal rainfall in 2019. The Kenya National Bureau of Statistics (KNBS) Thursday said the economy expanded 6.3 percent in 2018, the highest since 8.4 percent in 2010, beating majority of projections which ranged between 5.8 and 6.1 percent. The government insisted last year’s growth will be maintained this year amid rising concern that delayed March-April-May rainfall season may shave off as much as a percentage of the forecast growth. Treasury Secretary Henry Rotich told reporters after the launch of the annual economic performance report in Nairobi that the economy “remains resilient” and will expand by at least six percent. “It is still early to predict on its (drought) impact on agricultural production,” Mr Rotich said. The 2018 growth rebounded from a five-year low of 4.9 percent in 2017 after economic activities were hurt by a biting drought in the first half, which hit farming activities hardest, and a bruising presidential contest that slowed investment. “The growth (in 2018) was principally attributable to increased agricultural production, accelerated manufacturing activities, sustained growth in transportation and vibrant service sector activities. Agricultural activities benefited from sufficient rains that were well spread throughout the country,” KNBS said in the survey. Agriculture and related activities such as fisheries and forestry, the mainstay of the economy accounting for more than 34 percent of the gross domestic product (GDP), recovered sharply to grow 6.4 percent in 2018 from a revised 1.9 percent a year earlier. The growth in agricultural production, which accounts for the largest share of jobs in Kenya, in 2018 was the highest since 2010 when it notched 10.1 percent. Sufficient “long-rains” in 2018 also spurred electricity supply — a key enabler of economic activities — to an estimated 10.5 percent growth which is the highest since 13.3 percent in 2011. Manufacturing, the second largest creator of largely informal jobs, also recovered from a five-year low of 0.5 percent in 2017 to grow by 4.2 percent last year — the highest since 7.2 percent in 2011. Those statistics nobody believes them.There is alot of question marks in how they arrived at the figures. Reality on the ground paints a different picture Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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Ericsson wrote:xtina wrote:Economic growth jumps to 8-year high of 6.3pc THURSDAY, APRIL 25, 2019 22:28 The Central Bank of Kenya The Central Bank of Kenya. FILE PHOTO | NMG Facebook Twitter LinkedIn Kenya’s economy expanded at the fastest rate in eight years last year largely on increased agricultural production. However, economists have warned that the robust growth could be hurt by poorly-distributed, below-normal rainfall in 2019. The Kenya National Bureau of Statistics (KNBS) Thursday said the economy expanded 6.3 percent in 2018, the highest since 8.4 percent in 2010, beating majority of projections which ranged between 5.8 and 6.1 percent. The government insisted last year’s growth will be maintained this year amid rising concern that delayed March-April-May rainfall season may shave off as much as a percentage of the forecast growth. Treasury Secretary Henry Rotich told reporters after the launch of the annual economic performance report in Nairobi that the economy “remains resilient” and will expand by at least six percent. “It is still early to predict on its (drought) impact on agricultural production,” Mr Rotich said. The 2018 growth rebounded from a five-year low of 4.9 percent in 2017 after economic activities were hurt by a biting drought in the first half, which hit farming activities hardest, and a bruising presidential contest that slowed investment. “The growth (in 2018) was principally attributable to increased agricultural production, accelerated manufacturing activities, sustained growth in transportation and vibrant service sector activities. Agricultural activities benefited from sufficient rains that were well spread throughout the country,” KNBS said in the survey. Agriculture and related activities such as fisheries and forestry, the mainstay of the economy accounting for more than 34 percent of the gross domestic product (GDP), recovered sharply to grow 6.4 percent in 2018 from a revised 1.9 percent a year earlier. The growth in agricultural production, which accounts for the largest share of jobs in Kenya, in 2018 was the highest since 2010 when it notched 10.1 percent. Sufficient “long-rains” in 2018 also spurred electricity supply — a key enabler of economic activities — to an estimated 10.5 percent growth which is the highest since 13.3 percent in 2011. Manufacturing, the second largest creator of largely informal jobs, also recovered from a five-year low of 0.5 percent in 2017 to grow by 4.2 percent last year — the highest since 7.2 percent in 2011. Those statistics nobody believes them.There is alot of question marks in how they arrived at the figures. Reality on the ground paints a different picture This is an annual done by the KNBS which is the official mandated body to carry out such studies for GoK for the Republic. This is the official position, unless one can pinpoint issues with the study and its results with concrete facts and figures. If you can read this report, use it and get a niche where the economy is doing well. Dont cry like a villager in Turkana/Pokot yawa!!! Ni hayo tu nduguzanguni!!! 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: New-farer Joined: 12/30/2018 Posts: 94
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Treasury unveils Sh2.7trn budget https://www.nation.co.ke...95238-eioxjr/index.html via @dailynation
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Rank: Veteran Joined: 9/21/2011 Posts: 2,032
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Ericsson wrote:xtina wrote:Economic growth jumps to 8-year high of 6.3pc THURSDAY, APRIL 25, 2019 22:28 The Central Bank of Kenya The Central Bank of Kenya. FILE PHOTO | NMG Facebook Twitter LinkedIn Kenya’s economy expanded at the fastest rate in eight years last year largely on increased agricultural production. However, economists have warned that the robust growth could be hurt by poorly-distributed, below-normal rainfall in 2019. The Kenya National Bureau of Statistics (KNBS) Thursday said the economy expanded 6.3 percent in 2018, the highest since 8.4 percent in 2010, beating majority of projections which ranged between 5.8 and 6.1 percent. The government insisted last year’s growth will be maintained this year amid rising concern that delayed March-April-May rainfall season may shave off as much as a percentage of the forecast growth. Treasury Secretary Henry Rotich told reporters after the launch of the annual economic performance report in Nairobi that the economy “remains resilient” and will expand by at least six percent. “It is still early to predict on its (drought) impact on agricultural production,” Mr Rotich said. The 2018 growth rebounded from a five-year low of 4.9 percent in 2017 after economic activities were hurt by a biting drought in the first half, which hit farming activities hardest, and a bruising presidential contest that slowed investment. “The growth (in 2018) was principally attributable to increased agricultural production, accelerated manufacturing activities, sustained growth in transportation and vibrant service sector activities. Agricultural activities benefited from sufficient rains that were well spread throughout the country,” KNBS said in the survey. Agriculture and related activities such as fisheries and forestry, the mainstay of the economy accounting for more than 34 percent of the gross domestic product (GDP), recovered sharply to grow 6.4 percent in 2018 from a revised 1.9 percent a year earlier. The growth in agricultural production, which accounts for the largest share of jobs in Kenya, in 2018 was the highest since 2010 when it notched 10.1 percent. Sufficient “long-rains” in 2018 also spurred electricity supply — a key enabler of economic activities — to an estimated 10.5 percent growth which is the highest since 13.3 percent in 2011. Manufacturing, the second largest creator of largely informal jobs, also recovered from a five-year low of 0.5 percent in 2017 to grow by 4.2 percent last year — the highest since 7.2 percent in 2011. Those statistics nobody believes them.There is alot of question marks in how they arrived at the figures. Reality on the ground paints a different picture If we assume that the money stolen from national and county govts ends up in the economy eg via church projects, construction of palatial homes and commercial buildings, then maybe it explains why economybis still growing. But since the money is used mainly in informal economy, govt doesn't realize the full benefit that would come out of reduced cost of business, tax remittances if money was used formally, etc. Since a lot of this money that ends up being stolen is borrowed money, what it means is that govt will increasingly find it an uphill task to repay the loans. Meanwhile we'll continue getting rosy GDP growth figures that even govt can't explain
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Rank: Veteran Joined: 11/13/2015 Posts: 1,652
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what went wrong with Central kenya MPs? All the river-roadish economic laws emanate from them. Jude Jomo with interest rate cap and now this.... Quote:A parliamentary committee has approved a bill that will compel creditors to seize assets of defaulting borrowers before touching a guarantor’s property. The National Assembly’s Justice and Legal Affairs committee has proposed a minor amendment to restrict the application of the law to contracts signed after the date the Bill becomes law. The committee cleared the Bill sponsored by Juja MP Francis Waititu that seeks to amend Section 3 of the Law of Contract Act that lays rules for signing of such agreements. The Law of Contract (Amendment) Bill, 2019, proposes that in case of a default by the principal borrower, the creditor should first auction the assets of the former before raising the property of guarantors. https://www.businessdail...01524-hibd99/index.html
How are creditors like saccos supposed to survive in this environment?
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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https://www.businessdail...1434-gweji5z/index.html
There is a huge gap between the money the government allocates universities per student and the amount it actually costs to successfully take one through training. On average, the the cost of education in Kenyan universities for one academic year per student ranges from Sh600,000 for the dentistry programme, Sh576,000 for medicine, Sh432,000 for pharmacy, Sh180,000 for applied humanities, to Sh144,000 for the arts. The State has funded university education at a fixed rate of Sh70,000 per student per academic year, regardless of programme of study, for the last 26 years. What this means is that for a dentistry student, State funding leaves a gap of Sh530,000 per academic year. For the entire five-year training programme then, the funding gap per student stands at Sh2.65 million. By extension then, for a dentistry programme class of 30 students, the funding gap passed on by the State to that university becomes Sh79.5 million every graduation cycle of five years. For the arts courses that cost Sh144,000 per student per academic year and funded by the State at Sh70,000, the funding gap stands at Sh74,000 per student. For a four-year academic programme, that gap stands at Sh296,000 per student. By extention then, for an average class size of 100 students, the funding gap in that programme alone stands at Sh29.6 million every graduation cycle. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 3/1/2019 Posts: 170 Location: Nairobi
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Ericsson wrote:https://www.businessdailyafrica.com/analysis/ideas/State-funding-gap-killing-university-education/4259414-5101434-gweji5z/index.html
There is a huge gap between the money the government allocates universities per student and the amount it actually costs to successfully take one through training.
On average, the the cost of education in Kenyan universities for one academic year per student ranges from Sh600,000 for the dentistry programme, Sh576,000 for medicine, Sh432,000 for pharmacy, Sh180,000 for applied humanities, to Sh144,000 for the arts.
The State has funded university education at a fixed rate of Sh70,000 per student per academic year, regardless of programme of study, for the last 26 years.
What this means is that for a dentistry student, State funding leaves a gap of Sh530,000 per academic year. For the entire five-year training programme then, the funding gap per student stands at Sh2.65 million.
By extension then, for a dentistry programme class of 30 students, the funding gap passed on by the State to that university becomes Sh79.5 million every graduation cycle of five years.
For the arts courses that cost Sh144,000 per student per academic year and funded by the State at Sh70,000, the funding gap stands at Sh74,000 per student. For a four-year academic programme, that gap stands at Sh296,000 per student. By extention then, for an average class size of 100 students, the funding gap in that programme alone stands at Sh29.6 million every graduation cycle. I hate it when people pull numbers out of their a## and expect everyone to nod.
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Shilling overvalued by 30 per cent - Amana CapitalKenya is operating a managed shilling than a free float currency, running a risk of making its exports more expensive. Speaking while unveiling a report that unpacks what is ailing Kenya's economy, Amana Capital chief investment officer Reginald Kadzutu said the shilling is overvalued by 30 per cent. He explained that the consumer price index which was at Sh97 in 2009 has since risen to Sh192, meaning that Kenyans are spending Sh192 to buy what could be bought at Sh100 ten years ago, translating to 50 per cent devaluation of purchasing power. ''The shilling's exchange rate which was at 72 against the dollar in 2009 is now at Sh100. This represents 20 per cent devaluation, meaning the shilling is overvalued by 30 per cent, '' Kadzutu said. Dubbed 'Kenya's Economic Puzzle', the report supports IMF's views on the shilling which were disputed by the Central Bank of Kenya. https://www.the-star.co....-per-cent-amana-capital/Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/22/2008 Posts: 2,721
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If all the South Sudanese removed their dollars from Kenyas banks the dollar would be KES 180.
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