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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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murchr 9/9/2013 wrote:mkeiyd wrote:murchr wrote:mkeiyd wrote:murchr wrote:
On textile. I dont understand why you get all personal when arguing out facts, anyway...to say that the mitumba industry dint kill the local textile industry is to be blind beyond words. Ati I sound like Ktirubi...well may be...you talk about value for money in mitumba, why cant we have value in what we make? Are we such dunderheads that we cant get designers who can make something that can be appreciated by us and the rest of the world? Cant we make a garment that would last? The jobs that can be created right from the production of cotton to he selling of whatever cloth cannot be ignored.
@murchr, Ever taken a look at those mutumba labels? Quite few have 'Made in US/UK/Italy/France etc. They read China, , , and then some South East Asian countries. There's a reason why the first world is dressed by the Asian countries, with quality garments. If we strive to make quality garments locally, the costs will outweigh the benefits. The quality that Chinese export to US/UK/Canada is not the same that comes to Africa or consumed in China. The surest way to go is AGOA, Americans have the purchasing power to buy quality products from Kenya which very few Kenyans can afford. The issue of mitumba clothes is more complex than it is appreciated by any lobbyist. The real threat to Kenya's textile industry is the importation of cheap sub-standard products from China and South East Asia. The sort of clothes that fade in two months time.The shirts, the women suits [i abhor them]. As it stands, the cheap brand new imports are the greatest threat to our textile industry. Atleast mtumba brings in punitive taxes to the gov't, that cannot be said about brand new cheap imports. Mutumba is in no direct competition with "Made in Kenya" apparel. If your walk into any shop on Biashara Street selling baby stuff, how many items can 1,000 bob buy? How many items can that get you in Gikomba? Use them for 3 months [from Biz street and the other from Giks] and compare the quality. Value for money. Same as using local contractors to do shoody job on our roads in the name of local. What is better? Value for money or local no matter the quality? On the flip side,a country that struggles to feed itself, is it not wiser to grow food crops, rather than cotton?
Do we import Sugar? Rice? Maize? Eggs?
Do we have mitumba sugar? rice? maize? egg?
Why do we import?
Why are the imports cheaper?
How much cotton do we need to dress Kenya? 90,000 tons on average per year?
How many people will the textiles industry employ?
How much does an EPZ employee earn now?
How much does a mtumba retailer earn now?Let's not bite every bait thrown our way, textile industry is NOT a strategic sector and push to kill mtumba AS THINGS STAND, will be detrimental. Mutumba ni mutumba doesnt matter if its from China or wherever and my arguement was not about where the cloth was made rather we should get out of this mentality that we cant make anything valuable at a cost that all can afford. Why cant we yet this is where costs could be cheaper because of cheap labor? I go back to policies, the business env should be favorable from the beginning of production to the end product. And by the way....buy Made is America is a very huge campaign in the US ask anyone there ati AGOA - nguo? Sell to Americans what they don't have...they are taking back industries and everything else they can do. They have to raise the employment numbers And just to note The original argument was about cement and textile industries @murchr, Mtumba clothing falls under textiles. Check the part in blue,that answers why we have mtumba clothing. There is very little mtumba from China. The mtumba from the developed world happens to have been made in China [majority of it]. Americans are focusing on hi-tech products. Those are kind of products that they'll be competitive in, Chinese cheap labor won't beat that. Common clothing is NOT hi-tech by any measure. My argument is, let's start with the basics before we go clothing on EMPTY stomachs as well as EMPTY pockets. I think your just commenting for the sake of it. Kwani do Kenyans walk naked? Cant some plant food and others cotton? Do you know that cotton is among the most sort after commodity ranked together with oil gold bla bla..? Why cant we eat and create a textile industry? This mentality of expecting a sequence of events is what is dragging Africa behind. Ati tukule tushibe alafu tufikirie...that was the agrarian revolution mentality. Welcome to the information age. Glad to hear Adan talk about the revival of the cotton and leather industry. I now see a some sort of light at the end of a tunnel. "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: 2/26/2012 Posts: 15,980
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The size of Kenya’s economy could increase by up to a fifth this year after the scheduled revision of data is completed, research by Standard Chartered Bank Plc indicates. In 2012 Kenya’s GDP was put at Sh3.44 trillion but this could rise by Sh688 billion to Sh4.128 trillion once the underestimation is corrected. “Near-term, attention will focus on the routine rebasing of Kenyan GDP statistics. Official growth figures are at odds with other evidence, suggesting some underestimation of economic activity over time,” said Razia Khan, head of research on Africa at StanChart Plc. Good or bad? http://www.businessdaily...6/-/s2puvyz/-/index.html"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: Chief Joined: 5/31/2011 Posts: 5,121
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Inflation returns to pre-VAT low level after dropping to 6.27pc - Inflation rate dropped to an eight month low in March to stand at 6.27% from 6.86% recorded in February despite marginal increases in the various indices. Food and Non-Alcoholic drink’s index increased by 0.56% due to an increment in price of some food items. Housing, Water, Electricity, Gas and Other Fuels’ Index, increased by 0.28% due to a rise in cost of common cooking fuels. The Transport index increased by 0.30% due to higher costs of petrol, matatu/bus fares and parking charges --> KNBS
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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murchr wrote:The size of Kenya’s economy could increase by up to a fifth this year after the scheduled revision of data is completed, research by Standard Chartered Bank Plc indicates. In 2012 Kenya’s GDP was put at Sh3.44 trillion but this could rise by Sh688 billion to Sh4.128 trillion once the underestimation is corrected. “Near-term, attention will focus on the routine rebasing of Kenyan GDP statistics. Official growth figures are at odds with other evidence, suggesting some underestimation of economic activity over time,” said Razia Khan, head of research on Africa at StanChart Plc. Good or bad? http://www.businessdailyafrica....6/-/s2puvyz/-/index.html ;-) Cant be bad “It is plausible that Kenya’s GDP will be revised up by circa 20 per cent with updated survey data, most likely in Q2-2014,” said Ms Khan. She said the revision would likely improve key credit metrics such as the average per-capita income, the fiscal and current account deficits when measured as a percentage of GDP, as well as public debt ratios. “An upward revision to GDP would help explain Kenya’s more favourable revenue mobilisation ratios compared with most of its peers, although this also reflects Kenya’s better-established private sector,” she said.
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Rank: Elder Joined: 9/23/2010 Posts: 2,225 Location: Sundowner,Amboseli
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mwekez@ji wrote:Inflation returns to pre-VAT low level after dropping to 6.27pc - Inflation rate dropped to an eight month low in March to stand at 6.27% from 6.86% recorded in February despite marginal increases in the various indices. Food and Non-Alcoholic drink’s index increased by 0.56% due to an increment in price of some food items. Housing, Water, Electricity, Gas and Other Fuels’ Index, increased by 0.28% due to a rise in cost of common cooking fuels. The Transport index increased by 0.30% due to higher costs of petrol, matatu/bus fares and parking charges --> KNBS Good news this. Calling on banks to reduce their lending rates. then we can smile here at the Equities corner! @SufficientlyP
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Rank: Member Joined: 2/1/2010 Posts: 272 Location: Nairobi
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mwekez@ji wrote:murchr wrote:The size of Kenya’s economy could increase by up to a fifth this year after the scheduled revision of data is completed, research by Standard Chartered Bank Plc indicates. In 2012 Kenya’s GDP was put at Sh3.44 trillion but this could rise by Sh688 billion to Sh4.128 trillion once the underestimation is corrected. “Near-term, attention will focus on the routine rebasing of Kenyan GDP statistics. Official growth figures are at odds with other evidence, suggesting some underestimation of economic activity over time,” said Razia Khan, head of research on Africa at StanChart Plc. Good or bad? http://www.businessdailyafrica....6/-/s2puvyz/-/index.html ;-) Cant be bad “It is plausible that Kenya’s GDP will be revised up by circa 20 per cent with updated survey data, most likely in Q2-2014,” said Ms Khan. She said the revision would likely improve key credit metrics such as the average per-capita income, the fiscal and current account deficits when measured as a percentage of GDP, as well as public debt ratios. “An upward revision to GDP would help explain Kenya’s more favourable revenue mobilisation ratios compared with most of its peers, although this also reflects Kenya’s better-established private sector,” she said. I like the sound of this! So circa $48 billion. The harder you work, the luckier you get
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Saw on TV yesterday that Comcraft Group is looking into listing into the NSE...any more details? "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: Chief Joined: 5/31/2011 Posts: 5,121
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murchr wrote:Saw on TV yesterday that Comcraft Group is looking into listing into the NSE...any more details? ... to list in 2 to 3 years ... found it to be quite far. many things could change by then ---> http://in.reuters.com/article/2...ft-idINBREA380HY20140409
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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New Construction Rules to End China's Market ControlForeign firms undertaking civil works in Kenya will be required to bid for just one project and do it in a joint venture with a local firm, the National Construction Authority has said. The authority vice chair, Isabella Wachira said this will happen if proposed regulations by the NCA become law. She said they are hopeful that the regulations will be enacted by the National Assembly which is currently scrutinizing the proposal. "Foreign firms will be registered to do one project and our aim is to have these firms entrench their construction technology to local firms. http://allafrica.com/stories/201404100679.html
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Kenyan Debt Beats Peers as Market Awaits Eurobond: Africa Credit http://www.bloomberg.com/news/2...obond-africa-credit.html
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