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Kenya's economy creating more wealth
Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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Quote:
https://www.the-star.co....rs-ago-says-cma_c1811587
According to that article, Kenya's are about 50% poorer today than they were a decade ago. The sectors that have been responsible for growth over the last 20 years or so including Telcoms, real estate and liberalization of key sectors such as healthcare can no longer support that growth. Worryingly, no other sectors seem capable of replacing real estate and telecoms, especially in regards to employment opportunities, meaning Kenya is in for a rough ride.
With all due respect, the article says no such thing! It's talking about the SAVINGS rate of Kenyans and aversion towards the capital markets, which tells us zero about poverty reduction or economic growth!My cousin in the village makes a boatload of money daily brewing muratina but spends it all 'enjoying life'so to measure his poverty via his savings rate is a tricky affair.
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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Quote:
Which measure is more accurate and please give the data to support your wild and scandalous allegations!
Quote:in my planet we try to understand what we are talking about. school yourself on basic economics then come to the table!!
Answer the darn question Wacha polojo Mingi!
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Rank: Member Joined: 5/22/2009 Posts: 206
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MugundaMan wrote:Quote:
https://www.the-star.co....rs-ago-says-cma_c1811587
According to that article, Kenya's are about 50% poorer today than they were a decade ago. The sectors that have been responsible for growth over the last 20 years or so including Telcoms, real estate and liberalization of key sectors such as healthcare can no longer support that growth. Worryingly, no other sectors seem capable of replacing real estate and telecoms, especially in regards to employment opportunities, meaning Kenya is in for a rough ride.
With all due respect, the article says no such thing! It's talking about the SAVINGS rate of Kenyans and aversion towards the capital markets, which tells us zero about poverty reduction or economic growth!My cousin in the village makes a boatload of money daily brewing muratina but spends it all 'enjoying life'so to measure his poverty via his savings rate is a tricky affair.
Savings = surplus. A decade ago, the average disposable income was so high that Kenyans could afford to YOLO and save at the same time. Anyway, according to you, what sector(s) is currently creating jobs for people, especially the hordes of graduates who are leaving college every year?
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Rank: Veteran Joined: 3/25/2010 Posts: 939 Location: Nai
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MugundaMan wrote:Quote:
Which measure is more accurate and please give the data to support your wild and scandalous allegations!
Quote:in my planet we try to understand what we are talking about. school yourself on basic economics then come to the table!!
Answer the darn question Wacha polojo Mingi!
Stop looking at only economic variables only the social aspects also matter. Look at your indicators same time
with SPI
- Now go learn the part you are missing from the works by Michael E. Porter and Scott Stern. Na ujaribu kutulia
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Rank: Member Joined: 2/15/2018 Posts: 428
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@mugundaman
The section below says that the list of wealthy is DOMINATEDby politicians whereas those who have made money in the ICT sector are FEW
Alkhan wrote:
Quote:Investment analyst Aly-Khan Satchu said Kenya’s economic performance in recent years only points to the fact that its list of the newly super-rich is likely to be dominated by politicians and the few investors in fast-growing fields such as ICT.
“Certainly news that Kenya is among the top 10 worldwide in ultra high net worth wealth creation with double-digit compound annual growth rate between 2012 and 2017 is an eye-catcher particularly at a time when 'You can’t eat GDP' is the refrain you hear from Kisumu to Mombasa,” said Mr Khan.
“What these reports tell me is, first that there has been a massive skew of wealth accumulation in favour of those at the top of the pyramid, a reverse Robin Hood as it were,” he said, adding that politically exposed persons, investors in ICT and PEs, fintech as well as growth in monopolistic businesses explain the outcome.
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Rank: Member Joined: 1/22/2015 Posts: 682
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We have people like Mailu, Waiguru and Mucheru who gave up jobs that were paying millions for a government appointment. Businessmen like Uhuru and Buzeki who despite founding billion shilling businesses still went in hammer and tongs for political positions. Meanwhile Mugundaman wants to play dumb about the situation
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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TNT wrote:
Savings = surplus. A decade ago, the average disposable income was so high that Kenyans could afford to YOLO and save at the same time.
Where is your data on this, baba? Give us the numbers and the source and maybe we can take you seriously!
Quote:Anyway, according to you, what sector(s) is currently creating jobs for people, especially the hordes of graduates who are leaving college every year?
Now we are getting to substance! According to Deloitte (2017):
1. Financial services - banking, insurance, pensions, capital markets
3. Public Sector - Security, women and youth empowerment, devolution, health education, Energy and resources
4. ICT
5. Agriculture
6. Manufacturing
7. Transport and Logistics
8. Tourism
and they left out the red hot real estate sector!
All growing! Jameni this is not rocket science; a sector grows, jobs are created, employment goes down, standards of living improve for everybady. Only an insane person cannot see this!
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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jamplu wrote:
Stop looking at only economic variables only the social aspects also matter. Look at your indicators same time
with SPI
- Now go learn the part you are missing from the works by Michael E. Porter and Scott Stern. Na ujaribu kutulia
Hakuna kitu umetuambia hapa papa. Go bring all your unique metrics and indicators and show us how everything (standards of living, health etc) went DOWN in an inverse relationship with GDP based on your wild unsubstantiated allegations! Until you do so you are just wasting key strokes.
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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radiomast wrote:@mugundaman
The section below says that the list of wealthy is DOMINATEDby politicians whereas those who have made money in the ICT sector are FEW
But that is just a wild conjecture in the peculiar style of jamplu by Mr Satchu! Where is his data to prove that PEPs dominate the dollar millionaire category? Please do not mistake a wild guess for fact! Remember there are a lot of industrialists, pseudo-businessmen, legit business people, real estate company owners, service industry moguls, tourism company owners and so much more in virtually every sector of the economy. So until Mr Satchu gives us concrete data, he cannot claim as fact that the list is dominated by PEPs alone.
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Rank: Member Joined: 5/22/2009 Posts: 206
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MugundaMan wrote:TNT wrote:
Savings = surplus. A decade ago, the average disposable income was so high that Kenyans could afford to YOLO and save at the same time.
Where is your data on this, baba? Give us the numbers and the source and maybe we can take you seriously!
Quote:Anyway, according to you, what sector(s) is currently creating jobs for people, especially the hordes of graduates who are leaving college every year?
Now we are getting to substance! According to Deloitte (2017):
1. Financial services - banking, insurance, pensions, capital markets
3. Public Sector - Security, women and youth empowerment, devolution, health education, Energy and resources
4. ICT
5. Agriculture
6. Manufacturing
7. Transport and Logistics
8. Tourism
and they left out the red hot real estate sector!
All growing! Jameni this is not rocket science; a sector grows, jobs are created, employment goes down, standards of living improve for everybady. Only an insane person cannot see this!
Give a fool enough rope and he'll hang himself. A few excerpts from the report you've referenced:
Insurance: According to the IRA, the growth in insurance premiums declined to 7.3% in Q3 2016 compared to a 12.8% growth
in Q3 2015.
Financial Services: The KNBS reported that the Financial Services Industry (FSI) which contributes approximately 6.8% to the country’s GDP, withstood a turbulent year to post a growth of 6.1% in the third quarter (Q3) 2016 compared to a growth of 10.3% registered in Q3 2015.
Capital Markets: The securities market’s performance declined in the fourth quarter (Q4) 2016.
Agriculture: The agriculture industry in Kenya remains the most prominent, important and dominant industry. As of 2016, the industry accounted for over 26% of the total GDP, 20% of employment, 75% of the labour force, and over 50% of revenue from exports. According to the KNBS, the agriculture sector grew by 3.9%
in Q3 2016 compared to a growth of 5.5% in the Q3 2015. KNBS attributed this decline in growth to poor performance
Conclusion: Seems you cannot read and comprehend. You reference a report yet you fail to note the keyword "declined" [/size]that appears prominently throughout the report. And since you don't get it, [size=7]real estate is the past, not the future. The next bunch of millionaires and billionaires won't come from the real estate sector.
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