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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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[quote=Extraterrestrial]The Stanbic Bank Kenya PMI jumped to 54.1 in September 2019 from 52.9 in the previous month, signalling a solid improvement in the health of the Kenyan private sector. Sales growth accelerated to a 13-month high, leading firms to expand their output at a quicker pace. Employment also increased, as firms remained highly optimistic for future activity. At the same time, cost pressures weakened to a near two-year low, while output price inflation also eased. https://tradingeconomics...kenya/manufacturing-pmi[/quote] Who follows this,reality on the ground paints a different picture Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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Ericsson wrote:[quote=Extraterrestrial]The Stanbic Bank Kenya PMI jumped to 54.1 in September 2019 from 52.9 in the previous month, signalling a solid improvement in the health of the Kenyan private sector. Sales growth accelerated to a 13-month high, leading firms to expand their output at a quicker pace. Employment also increased, as firms remained highly optimistic for future activity. At the same time, cost pressures weakened to a near two-year low, while output price inflation also eased. https://tradingeconomics...kenya/manufacturing-pmi[/quote] Who follows this,reality on the ground paints a different picture Kwa ground vitu ni different
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 3/25/2010 Posts: 939 Location: Nai
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obiero wrote:Ericsson wrote:[quote=Extraterrestrial]The Stanbic Bank Kenya PMI jumped to 54.1 in September 2019 from 52.9 in the previous month, signalling a solid improvement in the health of the Kenyan private sector. Sales growth accelerated to a 13-month high, leading firms to expand their output at a quicker pace. Employment also increased, as firms remained highly optimistic for future activity. At the same time, cost pressures weakened to a near two-year low, while output price inflation also eased. https://tradingeconomics...kenya/manufacturing-pmi[/quote] Who follows this,reality on the ground paints a different picture Kwa ground vitu ni different  don't include DC kwa hio ground 
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Rank: Member Joined: 6/15/2013 Posts: 301
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Balaa wrote:[quote=obiero]Let me leave this here https://www.capitalfm.co...rtening-end-to-tax-row/[/quote]  I keep saying Gok/KRA is continually biting the hand that feeds them. They forget that as investors we don't owe the government a living and are looking for the best return on investment. It's Gok's business to create a conducive business environment. Investors ain't charity missionaries. They(Gok) just don't get it, do they? There were other ways of GOK to deal with this issue amicably. To be honest i side with Sportpesa/Betin on this..one issue being why should GOK tax capital used for betting? Capital put in doesn't gurantee winnings further more that capital money was obtained from my salary etc which was already taxed.GOK should only tax winnings. For Sportpesa to be considered a large tax payer and supporting thousands of youth and families both directly and indirectly and GOK to chest thump on this issue when the former was ready to talk and reach an amicable solution is disgusting. And clearly this was not a social/moral issue anymore since other betting companies have been allowed to operate.
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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Quote:The number of Kenyans with more than Sh100,000 as savings in their bank accounts has dropped for the first time in more than 13 years, reflecting the cash flow problems in an economy plagued by job cuts and modest economic activity.
Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Sh100,000 in their bank accounts dropped to 1,450,000 last year, down from 1,583,000 in 2017 — the first fall since 2006 when the regulator began making public such deposit data. https://www.businessdail...301742-plwpjl/index.html
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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[quote=Lolest!] Quote:The number of Kenyans with more than Sh100,000 as savings in their bank accounts has dropped for the first time in more than 13 years, reflecting the cash flow problems in an economy plagued by job cuts and modest economic activity.
Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Sh100,000 in their bank accounts dropped to 1,450,000 last year, down from 1,583,000 in 2017 — the first fall since 2006 when the regulator began making public such deposit data. https://www.businessdail...01742-plwpjl/index.html[/quote] People are investing in DC and other businesses e.g. farming, importation,Mama mboga etc. No need to put money in account. 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: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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Angelica _ann wrote:[quote=Lolest!] Quote:The number of Kenyans with more than Sh100,000 as savings in their bank accounts has dropped for the first time in more than 13 years, reflecting the cash flow problems in an economy plagued by job cuts and modest economic activity.
Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Sh100,000 in their bank accounts dropped to 1,450,000 last year, down from 1,583,000 in 2017 — the first fall since 2006 when the regulator began making public such deposit data. https://www.businessdail...01742-plwpjl/index.html[/quote] People are investing in DC and other businesses e.g. farming, importation,Mama mboga etc. No need to put money in account. It's a loss to store cash in a bank.Stocks,bonds and real estate best way to store cash. Towards the goal of financial freedom
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Rank: Member Joined: 3/1/2019 Posts: 170 Location: Nairobi
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mulla wrote:Balaa wrote:[quote=obiero]Let me leave this here https://www.capitalfm.co...rtening-end-to-tax-row/[/quote] I keep saying Gok/KRA is continually biting the hand that feeds them. They forget that as investors we don't owe the government a living and are looking for the best return on investment. It's Gok's business to create a conducive business environment. Investors ain't charity missionaries. They(Gok) just don't get it, do they? There were other ways of GOK to deal with this issue amicably. To be honest i side with Sportpesa/Betin on this..one issue being why should GOK tax capital used for betting? Capital put in doesn't gurantee winnings further more that capital money was obtained from my salary etc which was already taxed.GOK should only tax winnings. For Sportpesa to be considered a large tax payer and supporting thousands of youth and families both directly and indirectly and GOK to chest thump on this issue when the former was ready to talk and reach an amicable solution is disgusting. And clearly this was not a social/moral issue anymore since other betting companies have been allowed to operate. Sportspesa is a company that is majority-owned by Eastern Europeans of questionable business practices, and they were making bank by pocketing the little money our youth manage to make in this difficult economy. This is not about fair taxation, it is about protecting our people, by discouraging betting. Karauri is a big traitor for selling out our youth. Losing a job at sportpesa should be celebrated since it is an opportunity to find work that is more meaningful and probably end up creating actual value for fellow Kenyans
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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NewMoney wrote:mulla wrote:Balaa wrote:[quote=obiero]Let me leave this here https://www.capitalfm.co...rtening-end-to-tax-row/[/quote] I keep saying Gok/KRA is continually biting the hand that feeds them. They forget that as investors we don't owe the government a living and are looking for the best return on investment. It's Gok's business to create a conducive business environment. Investors ain't charity missionaries. They(Gok) just don't get it, do they? There were other ways of GOK to deal with this issue amicably. To be honest i side with Sportpesa/Betin on this..one issue being why should GOK tax capital used for betting? Capital put in doesn't gurantee winnings further more that capital money was obtained from my salary etc which was already taxed.GOK should only tax winnings. For Sportpesa to be considered a large tax payer and supporting thousands of youth and families both directly and indirectly and GOK to chest thump on this issue when the former was ready to talk and reach an amicable solution is disgusting. And clearly this was not a social/moral issue anymore since other betting companies have been allowed to operate. Sportspesa is a company that is majority-owned by Eastern Europeans of questionable business practices, and they were making bank by pocketing the little money our youth manage to make in this difficult economy. This is not about fair taxation, it is about protecting our people, by discouraging betting. Karauri is a big traitor for selling out our youth.Losing a job at sportpesa should be celebrated since it is an opportunity to find work that is more meaningful and probably end up creating actual value for fellow Kenyans Hapa i support you fully my brother @New Money. Banning sportspesa was a master stroke by Jubilee government and perhaps a saving grace from the hardship they have caused Kenyans in this 7 years of their rule. These dodgy Balkans leveraged on Safaricom m-pesa to milk dry marginalised youth in the urban Ghettos of Nairobi as well as from rural areas of their hard-earned cash. ION, i went to a pub on Saturday and when i asked to lipa na M-Pesa i was told to do a withdrawal from an agent number provided by the pub....If this is not tax-evasion then what is??? Can this critical information be conveyed to KRA, DCI and Safaricom?? Dumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 7/22/2008 Posts: 2,703
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[quote=Lolest!] Quote:The number of Kenyans with more than Sh100,000 as savings in their bank accounts has dropped for the first time in more than 13 years, reflecting the cash flow problems in an economy plagued by job cuts and modest economic activity.
Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Sh100,000 in their bank accounts dropped to 1,450,000 last year, down from 1,583,000 in 2017 — the first fall since 2006 when the regulator began making public such deposit data. https://www.businessdail...01742-plwpjl/index.html[/quote] Yaani only 2.69% of all bank accounts have more than 100K (1,000 USD). The percentage of individuals with more than USD 1,000.00 must be even smaller because people have multiple accounts. You can live in a bubble and not know it.
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Rank: Member Joined: 2/20/2015 Posts: 467 Location: Nairobi
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Kusadikika wrote:[quote=Lolest!] Quote:The number of Kenyans with more than Sh100,000 as savings in their bank accounts has dropped for the first time in more than 13 years, reflecting the cash flow problems in an economy plagued by job cuts and modest economic activity.
Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Sh100,000 in their bank accounts dropped to 1,450,000 last year, down from 1,583,000 in 2017 — the first fall since 2006 when the regulator began making public such deposit data. https://www.businessdail...01742-plwpjl/index.html[/quote] Yaani only 2.69% of all bank accounts have more than 100K (1,000 USD). The percentage of individuals with more than USD 1,000.00 must be even smaller because people have multiple accounts. You can live in a bubble and not know it. After the rate cap law some banks changed savings accounts to current accounts to avoid paying the high savings account interest that came with rate cap. I save in a SACCO where my +100K will be found. I believe the banking regulator doesn't capture SACCO details.
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Rank: Elder Joined: 7/22/2008 Posts: 2,703
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kawi254 wrote:Kusadikika wrote:[quote=Lolest!] Quote:The number of Kenyans with more than Sh100,000 as savings in their bank accounts has dropped for the first time in more than 13 years, reflecting the cash flow problems in an economy plagued by job cuts and modest economic activity.
Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Sh100,000 in their bank accounts dropped to 1,450,000 last year, down from 1,583,000 in 2017 — the first fall since 2006 when the regulator began making public such deposit data. https://www.businessdail...01742-plwpjl/index.html[/quote] Yaani only 2.69% of all bank accounts have more than 100K (1,000 USD). The percentage of individuals with more than USD 1,000.00 must be even smaller because people have multiple accounts. You can live in a bubble and not know it. After the rate cap law some banks changed savings accounts to current accounts to avoid paying the high savings account interest that came with rate cap. I save in a SACCO where my +100K will be found. I believe the banking regulator doesn't capture SACCO details. Even if this is accounted for the percentage of the population with more than 100k is still very small but as an individual it is very hard to know it because you probably hang around your circle of friends to whom 100k is not much. In our daily lives we actually don't meet very many people. If you met 10 new people every day, you would only have met 3,650 in a year and in 100 years you will only have met 365,000 people and that is meeting 10 people every day without repeating which is crazy. So I would hazard to guess that because we normally hang around the same people it is very hard for many people to know more than 200 people in their lifetime. Any one persons sample of the people they know looks many because that is all the people they know but in absolute numbers is a tiny tiny fraction of the people in a country. That is why everyone thinks statistics are wrong.
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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Kusadikika wrote:kawi254 wrote:Kusadikika wrote:[quote=Lolest!] Quote:The number of Kenyans with more than Sh100,000 as savings in their bank accounts has dropped for the first time in more than 13 years, reflecting the cash flow problems in an economy plagued by job cuts and modest economic activity.
Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Sh100,000 in their bank accounts dropped to 1,450,000 last year, down from 1,583,000 in 2017 — the first fall since 2006 when the regulator began making public such deposit data. https://www.businessdail...01742-plwpjl/index.html[/quote] Yaani only 2.69% of all bank accounts have more than 100K (1,000 USD). The percentage of individuals with more than USD 1,000.00 must be even smaller because people have multiple accounts. You can live in a bubble and not know it. After the rate cap law some banks changed savings accounts to current accounts to avoid paying the high savings account interest that came with rate cap. I save in a SACCO where my +100K will be found. I believe the banking regulator doesn't capture SACCO details. Even if this is accounted for the percentage of the population with more than 100k is still very small but as an individual it is very hard to know it because you probably hang around your circle of friends to whom 100k is not much. In our daily lives we actually don't meet very many people. If you met 10 new people every day, you would only have met 3,650 in a year and in 100 years you will only have met 365,000 people and that is meeting 10 people every day without repeating which is crazy. So I would hazard to guess that because we normally hang around the same people it is very hard for many people to know more than 200 people in their lifetime. Any one persons sample of the people they know looks many because that is all the people they know but in absolute numbers is a tiny tiny fraction of the people in a country. That is why everyone thinks statistics are wrong. You are deep
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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obiero wrote:Kusadikika wrote:kawi254 wrote:Kusadikika wrote:[quote=Lolest!] Quote:The number of Kenyans with more than Sh100,000 as savings in their bank accounts has dropped for the first time in more than 13 years, reflecting the cash flow problems in an economy plagued by job cuts and modest economic activity.
Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Sh100,000 in their bank accounts dropped to 1,450,000 last year, down from 1,583,000 in 2017 — the first fall since 2006 when the regulator began making public such deposit data. https://www.businessdail...01742-plwpjl/index.html[/quote] Yaani only 2.69% of all bank accounts have more than 100K (1,000 USD). The percentage of individuals with more than USD 1,000.00 must be even smaller because people have multiple accounts. You can live in a bubble and not know it. After the rate cap law some banks changed savings accounts to current accounts to avoid paying the high savings account interest that came with rate cap. I save in a SACCO where my +100K will be found. I believe the banking regulator doesn't capture SACCO details. Even if this is accounted for the percentage of the population with more than 100k is still very small but as an individual it is very hard to know it because you probably hang around your circle of friends to whom 100k is not much. In our daily lives we actually don't meet very many people. If you met 10 new people every day, you would only have met 3,650 in a year and in 100 years you will only have met 365,000 people and that is meeting 10 people every day without repeating which is crazy. So I would hazard to guess that because we normally hang around the same people it is very hard for many people to know more than 200 people in their lifetime. Any one persons sample of the people they know looks many because that is all the people they know but in absolute numbers is a tiny tiny fraction of the people in a country. That is why everyone thinks statistics are wrong. You are deep a good brain it is.just visit bus stops ,a bus calling customers at 30bob will be shown a wide berth..wacha ikuje ya 20 Bob ,the stampede will be huge,just because of 'worthless' 10bob . the levels of poverty is high in this country.having 100k for more than 3 days in a bank account is an uphill task.the needs are much more than the resources and that's why mobile loans sharks are on a growth path to bridge the gap. punda amecheka
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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https://citizentv.co.ke/...eiling-proposal-285532/
The National Assembly has rejected the National Treasury’s proposal to cap the national debt at Ksh.9 trillion suggesting a reduced figure of Ksh.7.5 trillion. Parliament’s Finance and Budget Committees met with Acting National Treasury Cabinet Secretary Ukur Yatani over the proposals on Tuesday. Sources told Citizen TV that members of the two committee’s main reservation with the Ksh.9 trillion figure was that Treasury could go on a borrowing spree to exhaust the set limit. In its proposal, the National Treasury stated that the country’s current debt stands at Ksh.5.8 trillion and is expected to go up to Ksh.6.3 trillion this year after it borrows to finance the current financial year. The document further shows that Treasury anticipates that we could hit the Ksh.9 trillion mark by 2024. “The limit is important because Kenyans need to know how much is owed to the country by foreign entities and we need to make this as clear as possible,” said CS Yatani on Monday. The legislators further expressed reservations stating that if the country hits its limit, most if not all of the revenues raised by the taxman will go towards paying the national debt. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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Ericsson wrote: https://citizentv.co.ke/...eiling-proposal-285532/
The National Assembly has rejected the National Treasury’s proposal to cap the national debt at Ksh.9 trillion suggesting a reduced figure of Ksh.7.5 trillion. Parliament’s Finance and Budget Committees met with Acting National Treasury Cabinet Secretary Ukur Yatani over the proposals on Tuesday. Sources told Citizen TV that members of the two committee’s main reservation with the Ksh.9 trillion figure was that Treasury could go on a borrowing spree to exhaust the set limit. In its proposal, the National Treasury stated that the country’s current debt stands at Ksh.5.8 trillion and is expected to go up to Ksh.6.3 trillion this year after it borrows to finance the current financial year. The document further shows that Treasury anticipates that we could hit the Ksh.9 trillion mark by 2024. “The limit is important because Kenyans need to know how much is owed to the country by foreign entities and we need to make this as clear as possible,” said CS Yatani on Monday. The legislators further expressed reservations stating that if the country hits its limit, most if not all of the revenues raised by the taxman will go towards paying the national debt. 1 day later, (and likely after hands were greased) MPs approve raising public debt caps to Sh9trnQuote:
Parliament Wednesday evening approved a Treasury notice to change the law and increase the cap for State borrowing to Sh9 trillion, offering it leeway to jerk up the mounting public debt.
MPs unanimously voted to amend the law that restricts public debt at half of the gross domestic product (GDP) in a move that will allow the Treasury to borrow an additional Sh3 trillion in coming years.
The change will allow the Treasury to borrow more in line with its target of increasing public debt to Sh9.1 trillion in the year starting July 2023 from Sh5.7 trillion in June.
There has been a jump in government borrowing since President Uhuru Kenyatta came to power in 2013 - a rise that some politicians and economists say is saddling future generations with too much debt.
The Treasury told MPs that Kenya has little room to raise taxes and therefore needs to raise the debt ceiling to avoid derailing the budget for the financial year that started in July.
Case of kicking the can down the road.
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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If only they could change their mind about interest rate cap......... Dumb money becomes dumb only when it listens to smart money
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Fyatu wrote:If only they could change their mind about interest rate cap......... What did the courts say? The law is only valid for 1yr and if MPs do not change the verbiage then it becomes unconstitutional right? Quote:A Kenyan court annulled a contentious banking law that caps what lenders can charge consumers for loans at 4 percentage points above the central bank rate, calling the legislation “vague, imprecise, ambiguous and indefinite.”
The Nairobi High Court suspended the implementation of the ruling for 12 months to give the National Assembly an opportunity to reconsider the provisions, according to the Thursday judgement. Boniface Oduor filed the lawsuit in 2016, claiming the act discriminated against banks, Business Daily Africa reported at the time. If they keep ignoring March 2020 the law will be redundant "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: 11,908
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C&P.... BORROWED: Is the economy really struggling or are business models struggling? Some food for thought: 1) Car sales are going down but Uber, Little Cab and the likes are on the rise. 2) Restaurants are going empty, but home delivery is rising 3) Tuition classes are not getting students but online studying is rising 4) Traders are struggling but online market sites and reference based direct selling are breaking record sales 5) Old commission based businesses are sniveling but online services, at low cost, are finding takers 6) Cell phone bills have reduced & internet penetration is on the increase 7) Stable (read "Govt Jobs") are dwindling but "Startup" jobs offering equity & Flexi work time are expanding. 8) Movie Theatre's are empty while Netflix is making rolling business. 8) Jobs seekers are reducing but job creators are on the rise. Working 40 hrs a week for 40 years is a trend of the past. Working for a few years and spending quality time contributing to society is the trend. If truth be told what we are experiencing is a transition phase & any transition is painful for the "well set traditional businesses"...... the masters of the past. It's most challenging for those whose business models are unwilling to change. It's a mystery for those who have never looked beyond traditional methods or have assiduously resisted change of any kind. The Economy is not struggling...it's the business models that are changing! 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: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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Angelica _ann wrote:
C&P....
BORROWED:
Is the economy really struggling or are business models struggling?
Some food for thought:
1) Car sales are going down but Uber, Little Cab and the likes are on the rise.
2) Restaurants are going empty, but home delivery is rising
3) Tuition classes are not getting students but online studying is rising
4) Traders are struggling but online market sites and reference based direct selling are breaking record sales
5) Old commission based businesses are sniveling but online services, at low cost, are finding takers
6) Cell phone bills have reduced & internet penetration is on the increase
7) Stable (read "Govt Jobs") are dwindling but "Startup" jobs offering equity & Flexi work time are expanding.
8) Movie Theatre's are empty while Netflix is making rolling business.
8) Jobs seekers are reducing but job creators are on the rise. Working 40 hrs a week for 40 years is a trend of the past. Working for a few years and spending quality time contributing to society is the trend.
If truth be told what we are experiencing is a transition phase & any transition is painful for the "well set traditional businesses"...... the masters of the past.
It's most challenging for those whose business models are unwilling to change.
It's a mystery for those who have never looked beyond traditional methods or have assiduously resisted change of any kind.
The Economy is not struggling...it's the business models that are changing!
Angie. Think global https://www.bloomberg.co...-global-growth-prospects
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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