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Kenya Economy Watch
Rank: Elder Joined: 1/8/2018 Posts: 2,211 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....zing-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...etail-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...sion-74a55vz/index.html
East Africa’s growing middle class hits 29 millionQuote: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.../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: 1,590
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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...33782-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: 2,211 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: 1,590
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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: 2,211 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: 454 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: 256
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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: 2,211 Location: DC (Dustbowl County)
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We have seen this before. When defeated and unable to respond with any substance to Mugundaman's points, ask for him to be banned
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 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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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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4TH CONSECUTIVE MONTH OF STRONG OUTPUT DUE TO HIGHER DEMAND
Wazoo DOOMSAYERS will NOT like this news
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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BAD NEWS for Wazoo Doomsayers as LAMU port officially gets commissioned in October and Lamu to South Sudan SGR and Crude Oil Pipeline plans kick off. https://www.theeastafric...mbKs6oD76aFAvQtxywoBdr5g
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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The sad thing is that to many who are jobless and wailing that "economy ni mbaya," these ideas in this article will either be brand new or will not make any sense to them . 
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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The..Law, which President Kenyatta signed on August 14th, allows the Cabinet Secretary for Planning TO VARY OR CANCEL THE RESULTS OF OFFICIAL DATA THAT RANGES FROM CENSUS TO ECONOMIC GROWTH DATA AND MONTHLY INFLATION NUMBERS! Source:Business daily page 1 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Enterprise opportunities: I went to supermarket to buy chocolate and came out with a business idea https://www.businessdail...6546-12fv8j9z/index.htmlIn 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: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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One of the main reasons i am Bullish about cement stocks and the Kenyan Economy... @Mugundaman is correct to say NSE is rigged and highly manipulated when Bamburi outrighly lies that Cement business for them was low in the previous 3 or so years and yet hii simiti yote ime mwagwa hapa ni powercrete 52.4. Remember this is reclaimed Sea/ocean so the scale of cement and chuma used is no jokes. Dumb money becomes dumb only when it listens to smart money
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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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Glad to see the gospel is spreading. Kenyan economy had deep structural issues that need radical adjustment. Uhuru had a good chance to start on it but he blew it massively. Wasted resources building infrastructure with a rural focus and after all that the economy has remained a peasant subsistence economy. https://www.businessdail...6634-whul09z/index.html Quote:A look at Kenya’s tax incidence shows that the heavy tax burden is carried by an identifiable group of Kenyans that carries the dependency burden.
So, a small government will be a stimulus policy substantially targeting this cohort of income earners with less effect on transforming the targeted income of people living in poverty. Coming to my argument, it is simply that small government is just a stimulus but to lift half of people living in poverty means Kenya must structurally transform from an agrarian economy into an industrial economy.
The sad fact is that Kenya is a peasant society. According to the World Bank, Kenya’s rural population is 73 percent or three-quarters of the population. Out of this, 70 percent are employed in agriculture, meaning Kenya is an agrarian economy. Quote:Hence for Kenya to lift eight million individuals out of poverty, it has to make a tectonic shift from an agrarian economy to an industrial economy. Unfortunately, industrialisation in this case seem to be ignorantly understood as merely working on ease of doing business and attract industrial investment.
These are not paper tiger games we are talking about. Industrialisation here means extraordinarily mobilising resources (capital, labour and infrastructure) more than just the conventional strategy whose output is not only to transform the economy to a sustainably high growth era, but also substantially raise per capita income by driving masses out of rural farms to formal employment in an urbanisation transformation.
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Ericsson wrote:The..Law, which President Kenyatta signed on August 14th, allows the Cabinet Secretary for Planning TO VARY OR CANCEL THE RESULTS OF OFFICIAL DATA THAT RANGES FROM CENSUS TO ECONOMIC GROWTH DATA AND MONTHLY INFLATION NUMBERS!
Source:Business daily page 1 Now the govt can legally cook figures.So much for the people who keep bringing up the GDP figures. Why dont they go ahead and disband KNBS as well and leave the CS to make up any figures he wishes.
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Rank: Elder Joined: 1/8/2018 Posts: 2,211 Location: DC (Dustbowl County)
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wukan wrote:Glad to see the gospel is spreading. Kenyan economy had deep structural issues that need radical adjustment. Uhuru had a good chance to start on it but he blew it massively. Wasted resources building infrastructure with a rural focus and after all that the economy has remained a peasant subsistence economy. https://www.businessdail...6634-whul09z/index.html Quote:A look at Kenya’s tax incidence shows that the heavy tax burden is carried by an identifiable group of Kenyans that carries the dependency burden.
So, a small government will be a stimulus policy substantially targeting this cohort of income earners with less effect on transforming the targeted income of people living in poverty. Coming to my argument, it is simply that small government is just a stimulus but to lift half of people living in poverty means Kenya must structurally transform from an agrarian economy into an industrial economy.
The sad fact is that Kenya is a peasant society. According to the World Bank, Kenya’s rural population is 73 percent or three-quarters of the population. Out of this, 70 percent are employed in agriculture, meaning Kenya is an agrarian economy. Quote:Hence for Kenya to lift eight million individuals out of poverty, it has to make a tectonic shift from an agrarian economy to an industrial economy. Unfortunately, industrialisation in this case seem to be ignorantly understood as merely working on ease of doing business and attract industrial investment.
These are not paper tiger games we are talking about. Industrialisation here means extraordinarily mobilising resources (capital, labour and infrastructure) more than just the conventional strategy whose output is not only to transform the economy to a sustainably high growth era, but also substantially raise per capita income by driving masses out of rural farms to formal employment in an urbanisation transformation. Wukan, if this is your "EVIDENCE" that the Kenyan economy is doing "bad" then we might as well shut down all the Economics departments in all credible Universities on earth and allow David Ndii to reconstitute them.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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whiteowl wrote:Ericsson wrote:The..Law, which President Kenyatta signed on August 14th, allows the Cabinet Secretary for Planning TO VARY OR CANCEL THE RESULTS OF OFFICIAL DATA THAT RANGES FROM CENSUS TO ECONOMIC GROWTH DATA AND MONTHLY INFLATION NUMBERS!
Source:Business daily page 1 Now the govt can legally cook figures.So much for the people who keep bringing up the GDP figures. Why dont they go ahead and disband KNBS as well and leave the CS to make up any figures he wishes. GDP figures are too much noise. See for example insurance premiums Quote:Nairobi has cemented its status as the largest source of insurance premiums, pointing to the growing unexploited markets outside the capital city. The county took up an estimated 80.67 percent of total premiums in 2018, up from 72.76 percent the previous year, despite contributing only 21.7 percent to national wealth. Latest data from Insurance Regulatory Authority (IRA) shows Nairobi handed insurers Sh173.2 billion premiums while the other 46 counties fetched them a combined Sh41.5 billion. https://www.businessdail...74818-3ucl3l/index.html
I prefer anecdotal evidence instead of those GoK and world bank statistics. Kenya power annual report on electricity consumption also tells you those county GDP figures are useful like yesterdays weather report. In Hong Kong they were historically hostile about keeping economic data. Keeping economic statistics is useful for planned socialist economies. In free market data is constant motion.
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