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Kenya Economy Watch
Angelica _ann
#1881 Posted : Monday, October 22, 2018 12:42:25 PM
Rank: Elder


Joined: 12/7/2012
Posts: 9,529
Ericsson wrote:
https://www.businessdailyafrica.com/markets/marketnews/Interest-payments-on-public-debt-increase-18pc/3815534-4815488-22xy39/index.html

The interest paid on Kenya’s public debt rose past the Sh300 billion mark in the year to June 2018, new Treasury filings show, highlighting the steep cost of servicing the country’s debt ,which has crossed the Sh5 trillion mark.

The Treasury’s annual public debt management report shows that the taxpayer coughed up Sh321.2 billion in interest for domestic and external debt for the 2017/18 fiscal year, an 18.4 percent increase on the Sh271.2 billion in interest paid in the previous fiscal year.


Loans much of it used for recurrent expenditure or stolen. Rotich normally looks very clueless to me.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
mlennyma
#1882 Posted : Monday, October 22, 2018 12:57:47 PM
Rank: Elder


Joined: 7/21/2010
Posts: 5,864
Location: nairobi
Angelica _ann wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/markets/marketnews/Interest-payments-on-public-debt-increase-18pc/3815534-4815488-22xy39/index.html

The interest paid on Kenya’s public debt rose past the Sh300 billion mark in the year to June 2018, new Treasury filings show, highlighting the steep cost of servicing the country’s debt ,which has crossed the Sh5 trillion mark.

The Treasury’s annual public debt management report shows that the taxpayer coughed up Sh321.2 billion in interest for domestic and external debt for the 2017/18 fiscal year, an 18.4 percent increase on the Sh271.2 billion in interest paid in the previous fiscal year.


Loans much of it used for recurrent expenditure or stolen. Rotich normally looks very clueless to me.

what an easy way to sit down and eat the billions of fools interest income
"Don't let the fear of losing be greater than the excitement of winning."
guru267
#1883 Posted : Monday, October 22, 2018 1:06:00 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,608
Location: Nairobi
mlennyma wrote:
Angelica _ann wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/markets/marketnews/Interest-payments-on-public-debt-increase-18pc/3815534-4815488-22xy39/index.html

The interest paid on Kenya’s public debt rose past the Sh300 billion mark in the year to June 2018, new Treasury filings show, highlighting the steep cost of servicing the country’s debt ,which has crossed the Sh5 trillion mark.

The Treasury’s annual public debt management report shows that the taxpayer coughed up Sh321.2 billion in interest for domestic and external debt for the 2017/18 fiscal year, an 18.4 percent increase on the Sh271.2 billion in interest paid in the previous fiscal year.


Loans much of it used for recurrent expenditure or stolen. Rotich normally looks very clueless to me.

what an easy way to sit down and eat the billions of fools interest income


GOK is only paying 6% interest p.a. on its total debt. Who's fooling who?
Mark 12:29
Deuteronomy 4:16
KulaRaha
#1884 Posted : Monday, October 22, 2018 1:23:34 PM
Rank: Elder


Joined: 7/26/2007
Posts: 6,319
guru267 wrote:
mlennyma wrote:
Angelica _ann wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/markets/marketnews/Interest-payments-on-public-debt-increase-18pc/3815534-4815488-22xy39/index.html

The interest paid on Kenya’s public debt rose past the Sh300 billion mark in the year to June 2018, new Treasury filings show, highlighting the steep cost of servicing the country’s debt ,which has crossed the Sh5 trillion mark.

The Treasury’s annual public debt management report shows that the taxpayer coughed up Sh321.2 billion in interest for domestic and external debt for the 2017/18 fiscal year, an 18.4 percent increase on the Sh271.2 billion in interest paid in the previous fiscal year.


Loans much of it used for recurrent expenditure or stolen. Rotich normally looks very clueless to me.

what an easy way to sit down and eat the billions of fools interest income


GOK is only paying 6% interest p.a. on its total debt. Who's fooling who?


6% on 3 trillion and 6% on 5 trillion are two very different numbers.....
Business opportunities are like buses,there's always another one coming
Angelica _ann
#1885 Posted : Monday, October 22, 2018 1:37:43 PM
Rank: Elder


Joined: 12/7/2012
Posts: 9,529
KulaRaha wrote:
guru267 wrote:
mlennyma wrote:
Angelica _ann wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/markets/marketnews/Interest-payments-on-public-debt-increase-18pc/3815534-4815488-22xy39/index.html

The interest paid on Kenya’s public debt rose past the Sh300 billion mark in the year to June 2018, new Treasury filings show, highlighting the steep cost of servicing the country’s debt ,which has crossed the Sh5 trillion mark.

The Treasury’s annual public debt management report shows that the taxpayer coughed up Sh321.2 billion in interest for domestic and external debt for the 2017/18 fiscal year, an 18.4 percent increase on the Sh271.2 billion in interest paid in the previous fiscal year.


Loans much of it used for recurrent expenditure or stolen. Rotich normally looks very clueless to me.

what an easy way to sit down and eat the billions of fools interest income


GOK is only paying 6% interest p.a. on its total debt. Who's fooling who?


6% on 3 trillion and 6% on 5 trillion are two very different numbers.....


My back of envelope calculation over lunch hour thinks that the figures as presented in the article are ok - interest of 300, ama? ( without taking into account rescheduling cost, fines and penalties (which i know exist)).
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
maka
#1886 Posted : Tuesday, October 23, 2018 2:01:01 PM
Rank: Elder


Joined: 4/22/2010
Posts: 10,729
Location: Nairobi
PRESIDENT KENYATTA signs into law Sh47.25bn supplementary budget with lion share of funds, Sh21bn, allocated for affordable housing. https://t.co/uzBcpvYQJX
possunt quia posse videntur
wukan
#1887 Posted : Wednesday, October 24, 2018 12:05:42 PM
Rank: Member


Joined: 11/13/2015
Posts: 867
Interesting figures on devolution

1. The aggregate annual own source revenue target for the 47 devolved governments was Sh49.22 billion against an actual collection of Sh32.49 billion, or 66 per cent of the target.

2. In the 2016/17 financial year, the total collection was Sh32.52 billion, which was 56.4 per cent of the target.

3. Nairobi generated 10.1b Mombasa 3.16b and Nakuru 2.28b-blue chips

4. Those that collected the lowest amounts were Lamu, Tana River and Mandera counties at Sh55.29 million, Sh56.63 million and Sh61.82 million, respectively.-monkeys

Wakanyugi
#1888 Posted : Wednesday, October 24, 2018 12:23:09 PM
Rank: Veteran


Joined: 7/3/2007
Posts: 1,493
wukan wrote:
Interesting figures on devolution

1. The aggregate annual own source revenue target for the 47 devolved governments was Sh49.22 billion against an actual collection of Sh32.49 billion, or 66 per cent of the target.

2. In the 2016/17 financial year, the total collection was Sh32.52 billion, which was 56.4 per cent of the target.

3. Nairobi generated 10.1b Mombasa 3.16b and Nakuru 2.28b-blue chips

4. Those that collected the lowest amounts were Lamu, Tana River and Mandera counties at Sh55.29 million, Sh56.63 million and Sh61.82 million, respectively.-monkeys



The Cheserem commission needs to tweak its revenue allocation formula to provide an incentive for County revenue generation:

1. 10% of total budget allocation to be based on previous revenue collection by a County

2. 70% of County allocations to given as conditional grants. This inflexibility will incentivise counties to generate their own revenue

3. County Governments that meet revenue collection and spending targets to be allowed to borrow up 100% of their budget for development purposes
"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
mamilli
#1889 Posted : Thursday, October 25, 2018 9:59:32 AM
Rank: Member


Joined: 10/6/2015
Posts: 139
Location: Nairobi
Noma juu ya noma...
https://www.standardmedi...ely-to-default-loans-imf
its all about the cheddar....
rwitre
#1890 Posted : Thursday, October 25, 2018 12:37:33 PM
Rank: Member


Joined: 3/8/2018
Posts: 120
Location: Nairobi
mamilli wrote:


Shilling overvalued by 17.5 per cent, says IMF

Am not an economist, but seems to me that these IMF fellows really have an axe to grind with Kenya. So the currency should weaken to match their projections? Shame on you

This is not to ignore the fact that our policy makers are digging us into a hole with their decisions. Excessive borrowing, white elephant projects, unaccountability etc.
maka
#1891 Posted : Thursday, October 25, 2018 1:00:14 PM
Rank: Elder


Joined: 4/22/2010
Posts: 10,729
Location: Nairobi
rwitre wrote:
mamilli wrote:


Shilling overvalued by 17.5 per cent, says IMF

Am not an economist, but seems to me that these IMF fellows really have an axe to grind with Kenya. So the currency should weaken to match their projections? Shame on you

This is not to ignore the fact that our policy makers are digging us into a hole with their decisions. Excessive borrowing, white elephant projects, unaccountability etc.


possunt quia posse videntur
rwitre
#1892 Posted : Monday, October 29, 2018 1:44:12 PM
Rank: Member


Joined: 3/8/2018
Posts: 120
Location: Nairobi
NSE investors lose Sh86bn in State-controlled firms

Quote:

Six State-controlled and Nairobi Securities Exchange-listed firms have caused investors a combined paper loss of Sh86 billion in the past five years alone, underlining the effect of corruption and gross mismanagement that has driven some of them to near collapse.

East African Portland Cement Company (EAPCC) , National Bank of Kenya (NBK) , Kenya Airways (KQ) , Kenya Power , Mumias Sugar Company and Uchumi Supermarkets had a combined market value of Sh113.6 billion on November 1, 2013 .

But a mix of heavy loss-making, mismanagement and theft has whittled that down to Sh26.9 billion and left Mumias and Uchumi all but dead.
.
.
.
Among the troubled six, KQ has burnt investors the most money – having accumulated Sh48.7 billion in paper losses over the five-year period. The loss excludes the impact of a recent debt-to-equity transaction that was favourable to the government and banks while squeezing long-term retail investors. The national carrier, which last paid a dividend in 2012, will likely need another bailout after continued losses plunged it back to a negative equity position of Sh3.8 billion in the half year ended June. KQ’s woes are linked to its previous overzealous expansion and theft by former managers.

Kenya Power is next with a paper loss of Sh19.9 billion, and significantly reduced earnings that have turned it from the consistent dividend payer it was to an erratic one. The company’s procurement running into billions of shillings has been questioned and a number of its top managers are in court facing economic crimes charges.

Uchumi, which was recently kicked out of its head office after surrendering most of its branches, is third with a paper loss of Sh5.4 billion, the culmination of multi-year losses and fraud. The former managers of the retailer were accused of wheeling and dealing, including entering commercial transactions with the company and third parties such as landlords to enrich themselves.


GoK firms just giving shareholders ulcers.
Angelica _ann
#1893 Posted : Monday, October 29, 2018 1:47:42 PM
Rank: Elder


Joined: 12/7/2012
Posts: 9,529
rwitre wrote:
NSE investors lose Sh86bn in State-controlled firms

Quote:

Six State-controlled and Nairobi Securities Exchange-listed firms have caused investors a combined paper loss of Sh86 billion in the past five years alone, underlining the effect of corruption and gross mismanagement that has driven some of them to near collapse.

East African Portland Cement Company (EAPCC) , National Bank of Kenya (NBK) , Kenya Airways (KQ) , Kenya Power , Mumias Sugar Company and Uchumi Supermarkets had a combined market value of Sh113.6 billion on November 1, 2013 .

But a mix of heavy loss-making, mismanagement and theft has whittled that down to Sh26.9 billion and left Mumias and Uchumi all but dead.
.
.
.
Among the troubled six, KQ has burnt investors the most money – having accumulated Sh48.7 billion in paper losses over the five-year period. The loss excludes the impact of a recent debt-to-equity transaction that was favourable to the government and banks while squeezing long-term retail investors. The national carrier, which last paid a dividend in 2012, will likely need another bailout after continued losses plunged it back to a negative equity position of Sh3.8 billion in the half year ended June. KQ’s woes are linked to its previous overzealous expansion and theft by former managers.

Kenya Power is next with a paper loss of Sh19.9 billion, and significantly reduced earnings that have turned it from the consistent dividend payer it was to an erratic one. The company’s procurement running into billions of shillings has been questioned and a number of its top managers are in court facing economic crimes charges.

Uchumi, which was recently kicked out of its head office after surrendering most of its branches, is third with a paper loss of Sh5.4 billion, the culmination of multi-year losses and fraud. The former managers of the retailer were accused of wheeling and dealing, including entering commercial transactions with the company and third parties such as landlords to enrich themselves.


GoK firms just giving shareholders ulcers.


KQ should be removed from that list, JFK loaded.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
lochaz-index
#1894 Posted : Tuesday, October 30, 2018 10:31:32 AM
Rank: Veteran


Joined: 9/18/2014
Posts: 901
KE is stepping on the eurobond gas...another 250 billion raise to plug the ever growing fiscal deficit. This will however come at a premium or become impossible depending on how fluid the debt market (interest rates), USD and KES trends are. Following the tacit withdrawal of IMF's support and possible ratings downgrade this will be an interesting signal on the fiscal end. https://www.bloomberg.co...urobonds-loans-this-year
The main purpose of the stock market is to make fools of as many people as possible.
wukan
#1895 Posted : Tuesday, October 30, 2018 12:31:09 PM
Rank: Member


Joined: 11/13/2015
Posts: 867
lochaz-index wrote:
KE is stepping on the eurobond gas...another 250 billion raise to plug the ever growing fiscal deficit. This will however come at a premium or become impossible depending on how fluid the debt market (interest rates), USD and KES trends are. Following the tacit withdrawal of IMF's support and possible ratings downgrade this will be an interesting signal on the fiscal end. https://www.bloomberg.co...robonds-loans-this-year


The debt treadmill. At this rate I would estimate around 2021 is when KE will start to experience the severe debt crisis. plenty of time to preparesmile
Angelica _ann
#1896 Posted : Tuesday, October 30, 2018 12:37:56 PM
Rank: Elder


Joined: 12/7/2012
Posts: 9,529
wukan wrote:
lochaz-index wrote:
KE is stepping on the eurobond gas...another 250 billion raise to plug the ever growing fiscal deficit. This will however come at a premium or become impossible depending on how fluid the debt market (interest rates), USD and KES trends are. Following the tacit withdrawal of IMF's support and possible ratings downgrade this will be an interesting signal on the fiscal end. https://www.bloomberg.co...robonds-loans-this-year


The debt treadmill. At this rate I would estimate around 2021 is when KE will start to experience the severe debt crisis. plenty of time to preparesmile


These guys are behaving like wanjiku vs mobile money borrowing habits. Anyway after watching the Richard Quest interview of PORK, i concluded that he has no idea where the borrowed money ends up in. That, to me, is a tragedy on its own.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Ericsson
#1897 Posted : Tuesday, October 30, 2018 3:37:22 PM
Rank: Elder


Joined: 12/4/2009
Posts: 5,670
Location: NAIROBI
Ericsson
#1898 Posted : Wednesday, October 31, 2018 11:53:22 AM
Rank: Elder


Joined: 12/4/2009
Posts: 5,670
Location: NAIROBI
1 United States Dollar=102.04 Kenya Shilling
Swenani
#1899 Posted : Wednesday, October 31, 2018 1:42:24 PM
Rank: User


Joined: 8/15/2013
Posts: 12,671
Location: Vacuum
Ericsson wrote:
1 United States Dollar=102.04 Kenya Shilling

IMF told us KES is overvalued by a freaking 17.5% courtesy of CBK 's intervention
Poverty is the root of all evil
wukan
#1900 Posted : Wednesday, October 31, 2018 3:36:47 PM
Rank: Member


Joined: 11/13/2015
Posts: 867
Ericsson wrote:
1 United States Dollar=102.04 Kenya Shilling


Capital flight gear 1 engagedSad .
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