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Kenya Economy Watch
obiero
#1461 Posted : Tuesday, July 11, 2017 9:43:32 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,464
Location: nairobi
maka wrote:
winston wrote:
SRC...good move. But as usual Mpigs first agenda of the next parliament will be to deal with SRC.

The law of 'no sitting and mileage allowances' together with caps on 'Daily Subsistence Allowances and out of town/country trips' should be extended through out government. Then we can see the real effect.


Word...

Very true. This will assist us with cutting back some of the excesses. Here is something related, to read with high interest http://www.businessdaily...009490-37h80t/index.html

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
aemathenge
#1462 Posted : Wednesday, July 12, 2017 2:52:45 PM
Rank: Elder


Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
obiero wrote:
maka wrote:
[quote=winston]SRC...good move. But as usual Mpigs first agenda of the next parliament will be to deal with SRC.

The law of 'no sitting and mileage allowances' together with caps on 'Daily Subsistence Allowances and out of town/country trips' should be extended through out government. Then we can see the real effect.


Word...

Very true. This will assist us with cutting back some of the excesses. Here is something related, to read with high interest http://www.businessdaily...09490-37h80t/index.html[/quote]

Quote:
However, former Chairperson of the Commission on Revenue Allocation (CRA), Micah Cheserem, has lauded SRC’s move, but has expressed fears that MPs might oppose and change the new pay structure.


Source Link:
mulla
#1463 Posted : Wednesday, July 12, 2017 4:04:08 PM
Rank: Member


Joined: 6/15/2013
Posts: 301
Ebenyo wrote:
Ericsson wrote:
Kenya's SRC reduces MPs salaries from Sh 720,000 to 621,00 @ month. Sitting & mileage allowance abolished. Says move meant to reduce wastage
President's salary also reduced from Sh 1.6Mn to Sh 1.4Mn

New salary structures for State officers
President-1.4M
Deputy President-1.2M
CS- 924K
AG-924K
KDF boss-924K
PS- 765K
MPs- 621K
Senators-621k
Women Reps-621k
Governors sh924K
Deputy Governors-621k
MCAs-144K
No sitting and mileage allowances



Though the move is wise,its not the best.The economy is about quality.It cannot be fixed by slashing salaries of state officials.They are not the problem.KRA must be probed for not attaining its targets YOY.Then let the country reduce its dependence on debts.


The salary of Kenyan state officials is very high...way higher than their counterparts in the developed world. However I agree there's much more that KRA can do to catch tax cheats and reign in on their very own corrupt officials.
Ericsson
#1464 Posted : Thursday, July 13, 2017 10:06:06 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,626
Location: NAIROBI
http://www.businessdaily...012838-mofmrh/index.html
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
winston
#1465 Posted : Thursday, July 13, 2017 11:37:18 AM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
Ericsson wrote:
http://www.businessdailyafrica.com/economy/Museveni-takes-over-loan-approvals--rejects-11/3946234-4012838-mofmrh/index.html


Laughing out loudly Laughing out loudly Laughing out loudly
Ericsson
#1466 Posted : Thursday, July 13, 2017 5:46:04 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,626
Location: NAIROBI
Capital Economics says they have concerns about the accuracy of Kenya's official GDP Data.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ebenyo
#1467 Posted : Friday, July 14, 2017 7:24:56 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,996
Location: Kitale
winston wrote:
Ericsson wrote:
http://www.businessdailyafrica.com/economy/Museveni-takes-over-loan-approvals--rejects-11/3946234-4012838-mofmrh/index.html


Laughing out loudly Laughing out loudly Laughing out loudly



thats good as killing the economic growth of that country.I pity the citizens their.It means Museveni akikosana na bibi yake jioni kwa nyumba the next day in the morning hawezi approve loan yeyote.
Towards the goal of financial freedom
winston
#1468 Posted : Friday, July 14, 2017 8:13:21 AM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
Ebenyo wrote:
winston wrote:
Ericsson wrote:
http://www.businessdailyafrica.com/economy/Museveni-takes-over-loan-approvals--rejects-11/3946234-4012838-mofmrh/index.html


Laughing out loudly Laughing out loudly Laughing out loudly



thats good as killing the economic growth of that country.I pity the citizens their.It means Museveni akikosana na bibi yake jioni kwa nyumba the next day in the morning hawezi approve loan yeyote.



Lol...ati what?
winston
#1469 Posted : Friday, July 14, 2017 8:20:03 AM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
Ericsson wrote:
Capital Economics says they have concerns about the accuracy of Kenya's official GDP Data.


Wouldnt be surprised...if government is the one compiling and releasing the numbers...and they have an interest in showing positive growth...as they say in crime...government has both the 'motive' and the 'means' to commit the crime of manipulating GDP numbers.

On a different note, GDP numbers are largely estimates with some margin for variance. We should all be seriously concerned if the GOK GDP numbers are significantly different from estimates made by world bank, IMF et al.

Ericsson
#1470 Posted : Saturday, July 15, 2017 11:54:46 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,626
Location: NAIROBI
http://www.businessdaily...16138-xq2w4l/index.html

What is left for the Kenyan people.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Spikes
#1471 Posted : Sunday, July 16, 2017 5:57:33 AM
Rank: Elder


Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
Ericsson wrote:
http://www.businessdailyafrica.com/economy/400-Chinese-workers-sign-deal-to-run-SGR-operations/3946234-4016138-xq2w4l/index.html

What is left for the Kenyan people.

Ukoloni mambo leo
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
winston
#1472 Posted : Monday, July 17, 2017 11:27:01 AM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
Spikes wrote:
Ericsson wrote:
http://www.businessdailyafrica.com/economy/400-Chinese-workers-sign-deal-to-run-SGR-operations/3946234-4016138-xq2w4l/index.html

What is left for the Kenyan people.

Ukoloni mambo leo

Laughing out loudly Laughing out loudly Laughing out loudly

Nothing surprising. I recall a clip I received where one of the political commentators said that this thing SGR stinks...His arguments were that : Feasibility was done by the Chinese; Costing was done by the Chinese; Financing was done by the Chinese; Contract for construction by the Chinese; Locomotives supplied by the Chinese; Railway to be run by....you guessed it - the Chinese. Sisemi kitu!
Ericsson
#1473 Posted : Wednesday, July 19, 2017 6:14:16 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,626
Location: NAIROBI
http://www.theeastafrica...21044-rx0u1s/index.html

Kenya is spending a larger proportion of its revenue on paying debts than its peers Uganda, Rwanda and Ghana, international rating agency Fitch has said in its latest assessment of the economy.

The agency retained the country’s rating at negative outlook, the same as its previous view late last year, and worse than the stable rating that another agency Standard & Poor’s gave the country earlier this year.

The largest economy in East Africa spends 16.5 per cent of its revenue on interest payments, compared with 9.6 per cent spent by other countries with a similar credit rating.

“The debt servicing costs consume an outsized portion of Kenya’s revenue. Both total debt and interest payments as a percentage of revenue, at 262 per cent and 16.5 per cent respectively, are higher than the B medians of 227 per cent and 9.6 per cent,” said Fitch.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
winston
#1474 Posted : Wednesday, July 19, 2017 7:21:57 PM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
Ericsson wrote:
http://www.theeastafrican.co.ke/business/Kenya-retains-negative-rating-over-rising-debt/2560-4021044-rx0u1s/index.html

Kenya is spending a larger proportion of its revenue on paying debts than its peers Uganda, Rwanda and Ghana, international rating agency Fitch has said in its latest assessment of the economy.

The agency retained the country’s rating at negative outlook, the same as its previous view late last year, and worse than the stable rating that another agency Standard & Poor’s gave the country earlier this year.

The largest economy in East Africa spends 16.5 per cent of its revenue on interest payments, compared with 9.6 per cent spent by other countries with a similar credit rating.

“The debt servicing costs consume an outsized portion of Kenya’s revenue. Both total debt and interest payments as a percentage of revenue, at 262 per cent and 16.5 per cent respectively, are higher than the B medians of 227 per cent and 9.6 per cent,” said Fitch.


Living dangerously
Ericsson
#1475 Posted : Wednesday, July 19, 2017 9:59:29 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,626
Location: NAIROBI
winston wrote:
Spikes wrote:
Ericsson wrote:
http://www.businessdailyafrica.com/economy/400-Chinese-workers-sign-deal-to-run-SGR-operations/3946234-4016138-xq2w4l/index.html

What is left for the Kenyan people.

Ukoloni mambo leo

Laughing out loudly Laughing out loudly Laughing out loudly

Nothing surprising. I recall a clip I received where one of the political commentators said that this thing SGR stinks...His arguments were that : Feasibility was done by the Chinese; Costing was done by the Chinese; Financing was done by the Chinese; Contract for construction by the Chinese; Locomotives supplied by the Chinese; Railway to be run by....you guessed it - the Chinese. Sisemi kitu!


Chinese workers employed in Kenya's SGR as sweepers/cleaners are paid a monthly salary of Ksh 78,000
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#1476 Posted : Wednesday, July 19, 2017 11:56:47 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,626
Location: NAIROBI
The proportion of Kenya's budget going to welfare programs is rising fast at national and county level
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#1477 Posted : Thursday, July 20, 2017 10:13:24 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,626
Location: NAIROBI
http://af.reuters.com/ar...itiesNews/idAFL5N1KB6GA

Kenya collected taxes of 1.365 trillion shillings ($13.15 billion) in the fiscal year that ended last month, setting a new record high but missing the target by 9 percent, the revenue agency said on Thursday.

The data released by the Kenya Revenue Authority (KRA) showed the collection rose 13.8 percent from the previous year but still fell short of the target set by the government of 1.5 trillion shillings. Collections grew across all tax segments, KRA said in a statement.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
maka
#1478 Posted : Monday, July 24, 2017 6:52:26 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Ericsson wrote:
Capital Economics says they have concerns about the accuracy of Kenya's official GDP Data.



possunt quia posse videntur
winston
#1479 Posted : Tuesday, July 25, 2017 9:03:47 PM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
Ericsson wrote:
winston wrote:
Spikes wrote:
Ericsson wrote:
http://www.businessdailyafrica.com/economy/400-Chinese-workers-sign-deal-to-run-SGR-operations/3946234-4016138-xq2w4l/index.html

What is left for the Kenyan people.

Ukoloni mambo leo

Laughing out loudly Laughing out loudly Laughing out loudly

Nothing surprising. I recall a clip I received where one of the political commentators said that this thing SGR stinks...His arguments were that : Feasibility was done by the Chinese; Costing was done by the Chinese; Financing was done by the Chinese; Contract for construction by the Chinese; Locomotives supplied by the Chinese; Railway to be run by....you guessed it - the Chinese. Sisemi kitu!


Chinese workers employed in Kenya's SGR as sweepers/cleaners are paid a monthly salary of Ksh 78,000


Eish! Ati what? Ok...who owns Kenya? Iko na wenyewe au wachineywe?
Ericsson
#1480 Posted : Saturday, August 26, 2017 9:36:58 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,626
Location: NAIROBI
http://kenyanwallstreet....mbasa-port-road-project

The Japanese Government has signed an agreement to loan the government of Kenya Kshs 11.8 Billion to finance the second phase of the Mombasa Port Area Road Development Project
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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