Nobody disputes the fact that the economy is growing by 5%. This is impressive having come from drought and nearly a full year of campaigns.
Kenya has also risen up the rank in terms of ease of doing business. This is according to World Bank. Impressive and a step in the right direction.
Infrastructure wise, there is improvement. Roads are being done. There is electricity in places we didn’t think it could reach. SGR is progressing on schedule etc.
So much for praises. Now choir boys kaeni kuleeeee because I am about to state some facts ( whining in your dictionary).
Saturday’s newspaper had Kenya’s biggest cement company- Bamburi give a profit warning. Indicating the earnings would be lowest in 10 years!!!
Second biggest cement company Athi River has losses of 6.5 Billion!! The same Athi River mining had half year profits of 800 million in 2012. What about East Africa Portland??? Hata usiseme. They had operational challenges which at some point resulted in termination of salaries and laying off 520 employees
What about energy? Bei ya stima na mafuta nyinyi wote mnajua mahali iko. The good thing is that nowadays tokens are predictable. 1,000 bob gets you 45 units. 2017 1000 bob was 70 units. Anyway, we understand it was an election year so goodies lazima for people to umera umera.
Nowadays Monday nation is full of property being auctioned. From cars to houses to burotis. A friend of mine told me that one bank has a yard full of repossessed vehicles that there is no more space. Shida ni ati there are no potential buyers. Banks infact are calling their customers to agree on a structured payment. Ile mbio ya kupeleka mtu CRB is no longer there.
Profit warnings- So far the companies that have issued profit warnings this year are Kenya Power, Bamburi Cement, Housing Finance, Deacons, Sanlam, Sameer, Kenya Orchards. Profit warnings is when earnings dip by 25%.
Small enterprises with businesses whose turnover is less than 5 million mjitayarishe because from 1 Jan 2019, there is presumptive tax of 15% on the business permit. Kulipa ushuru ni kujitegemea.
In the just ended financial year, KRA missed its collection target and blamed it on underperformance of corporate taxes and payroll taxes. In the first quarter of 2019, they have missed the target by 80Billion… does that ring a bell??
Some guys have asked why are we saying the economy is not doing well yet the big banks are posting huge profits!! The answer is peasants are the ones driving the profits of these big banks. KCB charges 4.08% for a one month loan. Equity charges between 2%-10% per month!! Kukamuliwa proper. I don’t have the statistics but I believe as we laugh at Kenya for borrowing Peter to pay Paul, the same is happening among us. We are borrowing from Tala to Pay Mshwari. Then borrow from M-pesa to pay Mshwari etc etc… we are on a borrowing treadmill… By the way borrowing isn’t bad. It is what you do with the money.
He came back few months ago as a new villager and he is now a village elder like you.
Very soon atakuwa village sponsor coz of his numerous contribution to this forum, unlike you who is stuck at VE.
Tulia.
Kenya Power are still upto their dirty tricks, waliongeza bill ya stima na “complimentary billing” nikafika huko waka adjust with no explanation as to why it had been billed hivyo. Tried to push for prepaid ni excuses mara Supervisor wa department ako lunch, the prepaid meters are out-of-stock but with 2500 cash naweza wekewa chini ya maji. idiets
Tokens have improved though my sister anapata 66 Units for 1000bob.
A mod jumping first to defend a creation of the admin? Any way a man is known well by his characteristics and the present @Okiya s online characteristics betrays the old @Okiya.
As usual your post is full of inaccuracies, rumours, innuendoes and outright crap. For example, 1000 bob gets you 66 units of elec. There was a time fuel was at 128. KRA missing targets? NAME ONE IN WHICH IT MET THEM. You raise some genuine issues but when you marinate them in the usual shit everything stinks.
This is funny. The token metre was installed at my place this month. Bought tokens for 1k. Got the 45 units. How did they determine I use more than a 100 units ? Or is it from the old metre consumption? I can bet my left nut sifikishi hata 70 units juu I’m rarely in that crib and I dont have electronics that run the whole day even if I’m not in.