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Kenya Economy Watch
Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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Collapsing for sure, my dear friends!
Kenya leads Africa in new technology
Quote:Kenya has been ranked top in Africa in terms of the Government’s artificial intelligence (AI) readiness, according to a new report.
This highlights the country’s stride in preparing for the adoption of the new revolutionary technology compared to its regional peers.
A new study by the International Development Research Center (IDRC) and Oxford Insights ranks Kenya first on the continent and 52nd globally, with other African countries lagging behind.
“There are already numerous examples to show that AI is being applied to local problems,” said Isaac Rutenberg, a senior lecturer and the director of the Centre for Intellectual Property and Information Technology Law (CIPIT) at Strathmore Law School.
https://www.modernghana....izing-the-potential.html
Quote:In May, 2019, Kenya launched the blueprint of the country’s digital economy – the East African country is one of the few countries on the African continent that has invested heavily in digital infrastructure. The blueprint for the digital economy of Kenya is to serve as a guide in enhancing the role played by information technology in digital business processes, digital governance solutions, innovative-driven entrepreneurship and the promotion of digital skills. With a GDP of $74.94 billion and a population of 49.7 million in 2017, 82% of the inhabitants of Kenya have a bank account, the highest in Sub-Saharan Africa according to the World Bank.
https://www.standardmedi...retail-ranking-this-year
Quote:“The potential of the Kenyan market ...is huge because you have ...a booming economy, you have a growing middle class,” Moreau said.
https://www.theeastafric...rsion-74a55vz/index.html
East Africa’s growing middle class hits 29 million
Quote:The report estimates the size of the middle class — those spending between $2 and $20 a day — at about 313 million people, or 34.3 per cent of the continent’s population — a spike from 111 million two decades ago.
In East Africa, the figure comes to a total of about 29.3 million, representing an average of 22.6 per cent of the population; 44.9 per cent of Kenya’s population, 18.7 per cent in Uganda, 12.1 per cent in Tanzania, 7.7 per cent in Rwanda, and 5.3 per cent in Burundi.
https://www.worldbank.or...n/country/kenya/overview
Quote:While economic activity faltered following the 2008 global economic recession, growth resumed in the last five years reaching 5.7% in 2018 placing Kenya as one of the fastest growing economies in Sub-Saharan Africa. The economic expansion has been boosted by a stable macroeconomic environment, low oil prices, rebound in tourism, strong remittance inflows and a government led infrastructure development initiative.
Jameni what planet are you doomsayers living on  ? Peni mbili talk of a job cut here and a closed business there does not an entire economy make! World Bank does not just sit and twiddle thumbs listening to some Wazooans cry all day that the sky is falling on their heads. They actually get down and do some work!
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Rank: Veteran Joined: 11/13/2015 Posts: 1,658
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FRM2011 wrote:
Thanks @monk and happy 10th anniversary on wazua.
If it's any consolation, we are the generation that experienced a real economic boom. The years 2003-2013 will forever be unforgettable. Only regret is that we assumed the party would never stop.
Real economic boom or Inflationary finance!!!
This article by David Ndii never grows old
https://www.nation.co.ke...133782-cl752u/index.html
Quote:By 2007, corporate profits were booming, the stock market went through the roof and property millionaires were popping up everywhere. The word on the cocktail circuit was that the economy had been finally divorced from politics.
But a few blocks down the road from the cocktail lounges, things were not as rosy.
While economic growth rate of Kibaki’s first term more than doubled to 5 percent from 2 percent in Moi’s last term, employment growth actually slowed down from 15 percent to 9 percent.
The poor did not share the growth, but they bore the brunt of inflation.
During Moi’s last term, inflation for the low income and middle income groups had increased more or less equally, by 24 percent and 28 percent
respectively.
During Kibaki’s first term, low income group cost of living rose 70 percent as compared to 40 percent for the higher ups.
Farmers’ purchasing power as measured by the agricultural terms of trade (prices of inputs versus outputs) was eroded by 20 percent.
The gasoline was all over the floor. All it required was the spark that the 2007 election fiasco provided.
The only people who could not have smelled it were the pinstripe brigade whose heads were up there in the stratosphere with the NSE Index.
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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When all else fails, retreat to the asinine thoughts of Kenya's CHIEF DOOMSAYER David Ndii
Isn't this the same nut who told us Kenya would collapse "soon" well over 5 years ago. Waaaaaaapi? And the same "economist" who DEMANDED profits from a public good ?
How many millions of shillings in profits has Thika Superhighway given us?
As I said. WAKE US UP when
a) ANY of David Ndii's predictions come true
b) The #RedHawtt Kenyan economy dips below a 5% growth rate any time soon 
Shalom.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,658
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MugundaMan wrote:When all else fails, retreat to the asinine thoughts of Kenya's CHIEF DOOMSAYER David Ndii
Isn't this the same nut who told us Kenya would collapse "soon" well over 5 years ago. Waaaaaaapi? And the same "economist" who DEMANDED profits from a public good ?
How many millions of shillings in profits has Thika Superhighway given us?
As I said. WAKE US UP when
a) ANY of David Ndii's predictions come true
b) The #RedHawtt Kenyan economy dips below a 5% growth rate any time soon
Shalom.
You sometimes comment like those karobo chaps. Fuaaaa!!!!. My comment was directed at @FRM2011 not you. I was engaging the cocktail guys.
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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wukan wrote:
You sometimes comment like those karobo chaps. Fuaaaa!!!!. My comment was directed at @FRM2011 not you. I was engaging the cocktail guys.
Thank you for not challenging the content of my response.
On what you and FRM do with your cocktails together during your free time..that is your business . This is a public forum dealing with the issues papa. Anything posted hapa is fair game
Mr Karobo
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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With all due respect @Mugunda Man you are being outright condescending and going against the 'Spirit of Wazua' I have read somewhere you have called people lazy and perpetual whiners... I honestly don't think we are here for your insults. possunt quia posse videntur
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Rank: Member Joined: 11/15/2010 Posts: 455 Location: Nairobi
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maka wrote:With all due respect @Mugunda Man you are being outright condescending and going against the 'Spirit of Wazua' I have read somewhere you have called people lazy and perpetual whiners... I honestly don't think we are here for your insults.
I used to appreciate his opinion and how he defended himself until he started throwing insults fuaaaa...as he says.
When I was young, I was taught that insulting and belittling others in whatever way doesn't help. This applies wheather in virtual republic or in real life.
....He who began a good work in you will carry it on to completion..
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Rank: Member Joined: 7/1/2009 Posts: 274
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tinker wrote:maka wrote:With all due respect @Mugunda Man you are being outright condescending and going against the 'Spirit of Wazua' I have read somewhere you have called people lazy and perpetual whiners... I honestly don't think we are here for your insults.
I used to appreciate his opinion and how he defended himself until he started throwing insults fuaaaa...as he says.
When I was young, I was taught that insulting and belittling others in whatever way doesn't help. This applies wheather in virtual republic or in real life.
It seems I'm not the only one here who finds his language objectionable. When I pointed that out to him due to the way he kept insulting Mutaga and Sparkly, he called me a "whiner". So much for free sharing of ideas in a mature fashion.
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
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https://www.standardmedi...-sgr-takes-up-more-funds
China’s debt ballooned to Sh650 billion in 12 months to June 2019 after the country raked up more loans from Beijing to fund the Standard Gauge Railway (SGR).
Kenya chalked up an extra Sh97 billion from the Asian nation during this period. The loans included Sh44.7 billion for the second phase of the SGR from Nairobi to Naivasha and a Sh35.2 billion instalment for the first phase of the railway from Mombasa to Nairobi.
This saw China’s stock of debt climb up from Sh553 billion as of June 2018, even as the world’s second-largest economy cemented its position as Kenya’s leading bilateral lender.
Japan, whose debt stock increased by Sh49 billion to reach Sh132.2 billion, remains a distant second.
During this period, the World Bank’s debt increased by nearly a similar value to China’s to hit Sh607.2 billion. This is after the global lender approved a $750 million (Sh75 billion) loan to Kenya for budget support towards the end of the 2018/19 financial year.
Meanwhile, Kenya’s stock of expensive loans rose to 36 per cent of the total debt, from 24 per cent in June 2016. However, the fraction of cheap loans from multilateral institutions such as the World Bank declined from 45 per cent three years ago to 30 per cent.
Commercial loans crossed the trillion-mark after the country successfully issued its third Eurobond, a dollar-denominated sovereign bond, from which it raised Sh210 billion.
Treasury borrowed Sh770 billion in the 2018/19 financial year that ended in June against an initial target of Sh635.5 billion, or 6.3 per cent of the GDP, as increased wages and interest on loans forced the country back into the debt market. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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