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Kenya Economy Watch
Rank: Member Joined: 9/9/2015 Posts: 233
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U missing the unemployment problems creeping in. Soon people wont get markets for their products "Buy when there's blood in the streets, even if the blood is your own."
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Rank: Member Joined: 9/9/2015 Posts: 233
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The richest growing richer doesnt mean theyll buy more soap, bread or ham. "Buy when there's blood in the streets, even if the blood is your own."
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Rank: Member Joined: 9/9/2015 Posts: 233
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The richest growing richer doesnt mean theyll buy more soap, bread or ham. "Buy when there's blood in the streets, even if the blood is your own."
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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I'm yet to see and hear of any country in the world that has --Moved to middle income status --Industrialised --Have most of its citizens moved out of poverty level/reduced poverty level significantly Through aid,development loans,trade agreements with China. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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Ericsson wrote:I'm yet to see and hear of any country in the world that has
--Moved to middle income status
--Industrialised
--Have most of its citizens moved out of poverty level/reduced poverty level significantly
Through aid,development loans,trade agreements with China. Show me one country in this century that doesn't have trade agreements with China "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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@Murchr Trade agreements was a typo error http://www.theeastafrica...85pc-stake-in-RVR/2560-
3376528-h2gp75/index.html Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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http://www.businessdaily...7444-ep3j98z/index.html
Now Chinese cement exports grew ten fold in the first half of 2016. What does portray for our local cement companies.Doom and more doom. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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http://www.nation.co.ke/...84524-hqlbd4z/index.htmlWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 3/23/2011 Posts: 304
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Kenya's economy expands by 6.2% vs. 5.9% previous year http://www.businessdaily...00400-4jfehh/index.html
MoM Inflation up 0.08% to 6.34% vs 6.26% in August http://www.businessdaily...400270-b4qgep/index.htmlYou dont have to be great to START but you have to start to be GREAT!!!!!!!!
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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 Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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This rebasing of the economy and the declaration that kenya is now a middle income economy is the biggest lie by Jubilee, world bank, IMF, AFDB. We are still far from reaching that level Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 5/9/2007 Posts: 13,095
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[quote]Time period: 2014- 2016 1. Fluorspar laid off workers as Kenya Fluorspar company closed down in April. http://www.nation.co.ke/...6142-7jv5q9z/index.html
2. East Africa's biggest broadcaster to close radio and TV stations in Kenya. https://www.theguardian....se-radio-and-tv-station
3. Sameer tyre factory closure http://www.businessdaily...3442-y9r0hgz/index.html
4. Cadbury Kenya closed shop 5. Eveready East Africa, the biggest dry-cell battery maker in the region, shut its Nakuru factory. 6. Banking giant Hong Kong Shanghai Banking Corporation (HSBC) formally exited Nairobi. 7. Reckitt & Benkiser, Procter & Gamble, Bridgestone, Colgate Palmolive, Johnson & Johnson and Unilever have all relocated or restructured their operations mostly to Egypt or South Africa 8. Tata Chemicals Magadi closed down its main factory in Kenya. http://info.shine.com/ar...oda-ash-plant/3603.html
9. Coca-Cola Company downgraded its massive regional headquarters in Nairobi and relocated most of its operations to South Africa and Nigeria. http://www.nation.co.ke/...7660-9b4hhez/index.html
10. Barclays Africa shuts down Nairobi office over redundancy and moves to South Africa. http://www.nation.co.ke/...094-12sl196z/index.html
11. Royal media lays off over 100 employees to cut costs. http://www.thespotlightn...00-employees-including/
12. Sidian Bank staff layoffs point to a bigger issue with the Kenyan economy. http://www.businessdaily...39550-3428588-151f209z/
13. Family Bank will lay off unspecified number of workers in a bid to cut costs. http://www.standardmedia...layoffs-to-manage-costs
14. StanChart Kenya lays off 167 as parent firm orders cost-cutting. http://www.businessdaily...6366-11anaxj/index.html
15. EABL to lay off 100 staff at main Kenya subsidiary due to high costs of operations. http://www.nation.co.ke/.../-/15i3ckx/-/index.html
16. Ericsson Kenya staff demand to know retrenchment terms (However this affected larger sub-saharan Africa). http://www.businessdaily...3736-aqhpucz/index.html
17. Telkom Kenya to lay off 500 employees in fresh retrenchment wave Read more at: http://www.standardmedia...resh-retrenchment-wave.
18. Kenya Airways cuts 80 jobs in first phase of layoffs. http://www.businessdaily...84688-vicg4c/index.html
19. Kenya Meat Commission lays off 119 employees in it's rationalization of staff. http://kbctv.co.ke/blog/...f-rationalization-plan/
20. Mumias lays off 100 staff at closed water bottling plant. http://www.businessdaily...0/-/k3yigb/-/index.html
21. Equity Bank reports drop in staff costs as 660 workers exit. http://www.businessdaily...08438-1b3wht/index.html
22. Co-op Bank sends 160 managers packing in cost-cutting measure. http://www.nation.co.ke/...3174-vus32dz/index.html
23. Agony for 2,600 workers as Karuturi flower firm shuts down Read more at: http://www.standardmedia...m-shuts-down-amid-debts
24. Oserian flower farm lays off 400 employees. http://www.the-star.co.k...-400-employees_c1415669
25. Airtel lays off 60 employees. https://www.standardmedi...f-at-least-60-employees
FACT: Third of Kenyan budget is lost to corruption: says anti-graft chief. http://www.reuters.com/a...orruption-idUSKCN0WC1H8[/quote]
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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[quote=washiku] Halafu 2017 we won't look at policies ,facts, or commitment to fight corruption but hide under the shade of our mushroom tribal Gardens. I always wish this guy opus can be president of Kenya
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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[quote=washiku] Quote:Time period: 2014- 2016 1. Fluorspar laid off workers as Kenya Fluorspar company closed down in April. http://www.nation.co.ke/...6142-7jv5q9z/index.html China is no longer buying minerals in pleanty2. East Africa's biggest broadcaster to close radio and TV stations in Kenya. https://www.theguardian....se-radio-and-tv-station Failure to adapt to changing times - Adapt or perish3. Sameer tyre factory closure http://www.businessdaily...3442-y9r0hgz/index.html Chinese imports4. Cadbury Kenya closed shop I mporting from Eqypt is more economical than running a plant5. Eveready East Africa, the biggest dry-cell battery maker in the region, shut its Nakuru factory. Failure to adapt to changing times. Watchmen no longer use battery run torches za stima ziko6. Banking giant Hong Kong Shanghai Banking Corporation (HSBC) formally exited Nairobi. Govt took too long to invest in infrastructure that would bring business - eg Konza7. Reckitt & Benkiser, Procter & Gamble, Bridgestone, Colgate Palmolive, Johnson & Johnson and Unilever have all relocated or restructured their operations mostly to Egypt or South Africa Refer to the Cadbury's issue 8. Tata Chemicals Magadi closed down its main factory in Kenya. http://info.shine.com/ar...oda-ash-plant/3603.html When tata bought its competition, it stopped the production of its premium Ash, due to market conditions big companies do this and react to market demand and supply 9. Coca-Cola Company downgraded its massive regional headquarters in Nairobi and relocated most of its operations to South Africa and Nigeria. http://www.nation.co.ke/...7660-9b4hhez/index.html Refer to the Cadbury's issue10. Barclays Africa shuts down Nairobi office over redundancy and moves to South Africa. http://www.nation.co.ke/...094-12sl196z/index.html Competition chased them away11. Royal media lays off over 100 employees to cut costs. http://www.thespotlightn...00-employees-including/ Effects of technology...more traditional "jobs" will be rendered redundant12. Sidian Bank staff layoffs point to a bigger issue with the Kenyan economy. http://www.businessdaily...39550-3428588-151f209z/ Effects of technology...more traditional "jobs" will be rendered redundant13. Family Bank will lay off unspecified number of workers in a bid to cut costs. http://www.standardmedia...layoffs-to-manage-costs Effects of technology...more traditional "jobs" will be rendered redundant14. StanChart Kenya lays off 167 as parent firm orders cost-cutting. http://www.businessdaily...6366-11anaxj/index.html Effects of technology...more traditional "jobs" will be rendered redundant15. EABL to lay off 100 staff at main Kenya subsidiary due to high costs of operations. http://www.nation.co.ke/.../-/15i3ckx/-/index.html 16. Ericsson Kenya staff demand to know retrenchment terms (However this affected larger sub-saharan Africa). http://www.businessdaily...3736-aqhpucz/index.html Effects of technology...more traditional "jobs" will be rendered redundant17. Telkom Kenya to lay off 500 employees in fresh retrenchment wave Read more at: http://www.standardmedia...resh-retrenchment-wave. Effects of technology...more traditional "jobs" will be rendered redundant18. Kenya Airways cuts 80 jobs in first phase of layoffs. http://www.businessdaily...84688-vicg4c/index.html Over expansion with no plan B, cash mgt problems19. Kenya Meat Commission lays off 119 employees in it's rationalization of staff. http://kbctv.co.ke/blog/...f-rationalization-plan/ This company needs to be sold. Govt should not be involved in business this way20. Mumias lays off 100 staff at closed water bottling plant. http://www.businessdaily...0/-/k3yigb/-/index.html Ukora21. Equity Bank reports drop in staff costs as 660 workers exit. http://www.businessdaily...08438-1b3wht/index.html Effects of technology...more traditional "jobs" will be rendered redundant22. Co-op Bank sends 160 managers packing in cost-cutting measure. http://www.nation.co.ke/...3174-vus32dz/index.html Effects of technology...more traditional "jobs" will be rendered redundant23. Agony for 2,600 workers as Karuturi flower firm shuts down Read more at: http://www.standardmedia...m-shuts-down-amid-debts Madeni; Over expansion with no plan B24. Oserian flower farm lays off 400 employees. http://www.the-star.co.k...-400-employees_c1415669 ref above25. Airtel lays off 60 employees. https://www.standardmedi...f-at-least-60-employees Effects of technology...more traditional "jobs" will be rendered redundant FACT: Third of Kenyan budget is lost to corruption: says anti-graft chief. http://www.reuters.com/a...orruption-idUSKCN0WC1H8[/quote] The next years will be very very challenging for traditional jobs. Its time people smelt the coffee and took action. Egypt, SouthAfrica invested heavily in energy infrastructure years back those random power interruptions that force companies to buy standby generators are a killer, you cant compare close to 50000MW of electricity with the about 3000MW we produce. Like Obama says "those jobs are never coming back". Remember he spoke of taking jobs back to US and steve jobs told hime No---I guess experience is the best teacher. If a company like Cadbury's does come back, it will be HEAVILY automated and employing a fraction of workers - IT related jobs, and even these can be outsourced. If you look at Citizen's recent restructuring, the company got rid of "non content creators" which is what broadcasting stations have become. Reading news is not a job now, only those who follow and create a story, by researching and presenting it in an interesting and informative way will survive. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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Importing from Egypt is far better than running a plant in Kenya..... what is JP doing about this to reverse the trend and make Kenya a destination of choice in the region? 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: Chief Joined: 5/9/2007 Posts: 13,095
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@Muchr, thank you for your response. Now, given that the economy has been 'growing' at 5+%, could we also have an equal list of companies that have significantly grown in equal rate with those that has shrunk or completely closed? Am assuming it shouldn't be too hard to identify for such a robust economy like ours.
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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washiku wrote:@Muchr, thank you for your response. Now, given that the economy has been 'growing' at 5+%, could we also have an equal list of companies that have significantly grown in equal rate with those that has shrunk or completely closed? Am assuming it shouldn't be too hard to identify for such a robust economy like ours. First, companies getting rid of some employees due to redundancy does not mean that they are no longer hiring or closing business. I'll give an example of Equity and co-op, since more and more people are preferring to either transact on phone -Equitel or co-op mtaani, these banks are closing banking halls where fewer customers are going and expanding in the new business areas some telecom people for Equity and some mtaani jobs in the estates. For the likes of Eveready, if you bless your grandma with electricity connection you are simply transferring your expenditure from paka to KPLC. Kodak went under because guys were no longer buying film operated cameras, it wasn't because people stopped taking pictures. Who would have known one day we'd be so obsessed with our faces.....I hope that is clear. 2nd the economy grows when money is moving around. More infrastructure spending by govt is expanding the construction and energy sectors. There has been more business at the port due to port expansion bringing in more revenue. And multinationals such as GE, IBM, Intel are also expanding business. All these international conferences have revived the tourism sector -esp Nrb "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Ericsson wrote:This rebasing of the economy and the declaration that kenya is now a middle income economy is the biggest lie by Jubilee, world bank, IMF, AFDB.
We are still far from reaching that level KE is tottering towards a fiscal cliff. Predicting the when is the tricky part but it sure is a certainty at this point in time. When that time comes all these rosy numbers and terms which have been used to describe the economy will be turned on their heads. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Member Joined: 2/8/2007 Posts: 808
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lochaz-index wrote:Ericsson wrote:This rebasing of the economy and the declaration that kenya is now a middle income economy is the biggest lie by Jubilee, world bank, IMF, AFDB.
We are still far from reaching that level KE is tottering towards a fiscal cliff. Predicting the when is the tricky part but it sure is a certainty at this point in time. When that time comes all these rosy numbers and terms which have been used to describe the economy will be turned on their heads. 2019 certainly will be one the fiscal cliff edge moments when we have to repay part of the euro bond. Don't think we will have the amounts and may be looking to refinance. I hope global debt markets will be calm which doesn't look like at the moment because of commodities collapse and non responsiveness of the US economy to the printed notes. Our external debt has grown astronomically compared to GDP growth suggesting we could be borrowing to much to stimulate little growth. So borrow 327B to build SGR. The construction of SGR counts as domestic output in the GDP formula . My Keynes formula doesn't have a place for debt. So let us believe SGR can repay itself before the maturity of the loan.
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