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Why Kenyan economy is doing very well. Informal survey
MugundaMan
#1 Posted : Friday, January 04, 2019 1:22:33 PM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,700
Location: DC (Dustbowl County)
Sitting here in this nice upscale coffee house in DC (dust bowl county i. e. Kajiado County for those still in the dark), sipping my mocha and surfing the free Wi-Fi fuaaaaa I cannot help but see that the Kenyan economy is definitely on the boom and here is the reason why.

First of all this place is packed to capacity. Hata seating space is so limited that for the first time ever I am forced to share a booth with three other youngsters. The place is filled with prosperous looking yuppies spending big. All are tech wired, with gleaming smart phones being swiped away and laptops with incubator logos on them. This place is no different from Lavington or TRM or any other place where the middle classes like to gather to exchange ideas, work on things or just unwind in between earning and living.

Ten to 15 years ago this was not the case. A coffee house like this would not be found in dust bowl. All you would find is dilapidated dusty buildings and little else. Now world class glitzy malls are opening like horses bolting for a lucrative finish line. Sijui Kitengela Mall, sijui Signature Mall, sijui Crystal Rivers Mall and several more. But back to my table...

The sharply dressed baby faced youngsters in my booth look no older than 23-25 years old. They are speaking Greek IMHO...rapid fire talk about coding and algorithms and other tech fare that make the computer classes I took in first year uni seem obsolete. Their voices are animated and excited with boundless confidence and optimism. No politics here. Just taking their destiny into their own hands.

The swelling middle classes of Kenya are now untamed and there is no holding them back. The numbers don't lie. Domestic tourism cannot be contained any more. Hotels are full, Bonfire adventures and other companies have made Croesus like fortunes and won global awards from catering to the needs of the sprawling middle classes.

In the real estate industry, the clientele is getting younger and younger each year. Gone are the days when homes and plots were sold only to doddering old tea and coffee bonus farmers. I went to a site a few months ago and found a comically young guy putting final touches to his beautiful maisonette in the ClayWorks area. His occupation? A content producer for a local media company. These guys are Kenya's future.

Even among the lower middle classes and below, the changes -albeit slow - have been remarkable as the middle class rising tide lifts all boats. They are better clothed, better fed and better housed. The place I stay for example has a gardener who moonlights by washing cars for the residents for 200 Bob a pop. I counted the other day and based on the number of cars he washes, he easily scrapes about 3000 a day net, 7 days a week.

Is it any wonder then that he is building a modest bungalow in Rongai? What about hawkers? Those guys are doing very well for themselves. What about flower and tree sellers by the roadside. I once dropped about 2k picking up plants and flowers from a chap on a major highway in Nairobi. Imagine my shock when he pulled out a thick bunda of notes from his pocket while giving me change. Kenyans of all classes who are enterprising and are not waiting for a handout are all getting ahead at rapid clip.

This is what inspires confidence in the future of the economy despite the small challenges here and there that all nations on earth face, and the GDP growth numbers corroborate this.

As I take my last sip of mocha getting ready to leave, the Greek on my table continues. The coffee shop is still packed to capacity. The aroma of freshly baked cakes, coffee, chapati and avocado salads waft deliciously in the air. We have a beautiful country, my friends. Let's put in the work and the future is ours.

Shalom.
"The fool says in his heart, "There is no God." - Psalm 14:1
Dustbowl County is the Future of Kenya.
**1700 posts = Adios (for real this time!)**
sparkly
#2 Posted : Friday, January 04, 2019 6:02:56 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,049
Location: Enk are Nyirobi
MugundaMan wrote:
Sitting here in this nice upscale coffee house in DC (dust bowl county i. e. Kajiado County for those still in the dark), sipping my mocha and surfing the free Wi-Fi fuaaaaa I cannot help but see that the Kenyan economy is definitely on the boom and here is the reason why.

First of all this place is packed to capacity. Hata seating space is so limited that for the first time ever I am forced to share a booth with three other youngsters. The place is filled with prosperous looking yuppies spending big. All are tech wired, with gleaming smart phones being swiped away and laptops with incubator logos on them. This place is no different from Lavington or TRM or any other place where the middle classes like to gather to exchange ideas, work on things or just unwind in between earning and living.

Ten to 15 years ago this was not the case. A coffee house like this would not be found in dust bowl. All you would find is dilapidated dusty buildings and little else. Now world class glitzy malls are opening like horses bolting for a lucrative finish line. Sijui Kitengela Mall, sijui signature mall and several more. But back to my table.

The sharply dressed baby faced youngsters in my booth look no older than 23-25 years old. They are speaking Greek IMHO...rapid fire talk about coding and algorithms and other tech fare that make the compute classes I took in first year uni seem obsolete. Their voices are animated and excited with boundless confidence and optimism. No politics here. Just taking their destiny into their own hands.

The swelling middle classes of Kenya are now untamed and there is no holding them back. The numbers don't lie. Domestic tourism cannot be contained any more. Hotels are full, Bonfire adventures and other companies have made Croesus like fortunes and won global awards from catering to the needs of the sprawling middle classes.

In the real estate industry, the clientele is getting younger and younger each year. Gone are the days when homes and plots were sold only to doddering old tea and coffee bonus farmers. I went to a site a few months ago and found a comically young guy putting final touches to his beautiful maisonette in the ClayWorks area. His occupation? A content producer for a local media company. These guys are Kenya's future.

Even among the lower middle classes and below, the changes -albeit slow - have been remarkable as the middle class rising tide lifts all boats. They are better clothed, better fed and better housed. The place I stay for example has a gardener who moonlights by washing cars for the residents for 200 Bob a pop. I counted the other day and based on the number of cars he washes, he easily scrapes about 3000 a day net, 7 days a week.

Is it any wonder then that he is building a modest bungalow in Rongai? What about hawkers? Those guys are doing very well for themselves. What about flower and tree sellers by the roadside. I once dropped about 2k picking up plants and flowers from a chap on a major highway in Nairobi. Imagine my shock when he pulled out a thick bunda of notes from his pocket while giving me change. Kenyans of all classes who are enterprising and are not waiting for a handout are all getting ahead at rapid clip.

This is what inspires confidence in the future of the economy despite the small challenges here and there that all nations on earth face, and the GDP growth numbers corroborate this.

As I take my last sip of mocha getting ready to leave, the Greek on my table continues. The coffee shop is still lacked to capacity. The aroma of freshly baked cakes, coffee, chapati and avocado salads waft deliciously in the air. We have a beautiful country, my friends. Let's put in the work and the future is ours.

Shalom.


Cool narrative, good encouragement.
Life is short. Live passionately.
Chaka
#3 Posted : Friday, January 04, 2019 9:04:23 PM
Rank: Veteran


Joined: 2/16/2007
Posts: 2,079
@Mugundaman, you should have posted some pics? Guys might say you were dreaming...
rwitre
#4 Posted : Friday, January 04, 2019 9:37:52 PM
Rank: Member


Joined: 3/8/2018
Posts: 327
Location: Nairobi
sparkly wrote:
MugundaMan wrote:
Sitting here in this nice upscale coffee house in DC (dust bowl county i. e. Kajiado County for those still in the dark), sipping my mocha and surfing the free Wi-Fi fuaaaaa I cannot help but see that the Kenyan economy is definitely on the boom and here is the reason why.

First of all this place is packed to capacity. Hata seating space is so limited that for the first time ever I am forced to share a booth with three other youngsters. The place is filled with prosperous looking yuppies spending big. All are tech wired, with gleaming smart phones being swiped away and laptops with incubator logos on them. This place is no different from Lavington or TRM or any other place where the middle classes like to gather to exchange ideas, work on things or just unwind in between earning and living.

Ten to 15 years ago this was not the case. A coffee house like this would not be found in dust bowl. All you would find is dilapidated dusty buildings and little else. Now world class glitzy malls are opening like horses bolting for a lucrative finish line. Sijui Kitengela Mall, sijui signature mall and several more. But back to my table.

The sharply dressed baby faced youngsters in my booth look no older than 23-25 years old. They are speaking Greek IMHO...rapid fire talk about coding and algorithms and other tech fare that make the compute classes I took in first year uni seem obsolete. Their voices are animated and excited with boundless confidence and optimism. No politics here. Just taking their destiny into their own hands.

The swelling middle classes of Kenya are now untamed and there is no holding them back. The numbers don't lie. Domestic tourism cannot be contained any more. Hotels are full, Bonfire adventures and other companies have made Croesus like fortunes and won global awards from catering to the needs of the sprawling middle classes.

In the real estate industry, the clientele is getting younger and younger each year. Gone are the days when homes and plots were sold only to doddering old tea and coffee bonus farmers. I went to a site a few months ago and found a comically young guy putting final touches to his beautiful maisonette in the ClayWorks area. His occupation? A content producer for a local media company. These guys are Kenya's future.

Even among the lower middle classes and below, the changes -albeit slow - have been remarkable as the middle class rising tide lifts all boats. They are better clothed, better fed and better housed. The place I stay for example has a gardener who moonlights by washing cars for the residents for 200 Bob a pop. I counted the other day and based on the number of cars he washes, he easily scrapes about 3000 a day net, 7 days a week.

Is it any wonder then that he is building a modest bungalow in Rongai? What about hawkers? Those guys are doing very well for themselves. What about flower and tree sellers by the roadside. I once dropped about 2k picking up plants and flowers from a chap on a major highway in Nairobi. Imagine my shock when he pulled out a thick bunda of notes from his pocket while giving me change. Kenyans of all classes who are enterprising and are not waiting for a handout are all getting ahead at rapid clip.

This is what inspires confidence in the future of the economy despite the small challenges here and there that all nations on earth face, and the GDP growth numbers corroborate this.

As I take my last sip of mocha getting ready to leave, the Greek on my table continues. The coffee shop is still lacked to capacity. The aroma of freshly baked cakes, coffee, chapati and avocado salads waft deliciously in the air. We have a beautiful country, my friends. Let's put in the work and the future is ours.

Shalom.


Cool narrative, good encouragement.


Taxman is racking his brain wondering how to get to that flower guy Laughing out loudly
Metch
#5 Posted : Saturday, January 05, 2019 10:43:30 AM
Rank: Member


Joined: 12/22/2015
Posts: 157
Location: Mombasa, Kenya
rwitre wrote:
sparkly wrote:
MugundaMan wrote:
Sitting here in this nice upscale coffee house in DC (dust bowl county i. e. Kajiado County for those still in the dark), sipping my mocha and surfing the free Wi-Fi fuaaaaa I cannot help but see that the Kenyan economy is definitely on the boom and here is the reason why.

First of all this place is packed to capacity. Hata seating space is so limited that for the first time ever I am forced to share a booth with three other youngsters. The place is filled with prosperous looking yuppies spending big. All are tech wired, with gleaming smart phones being swiped away and laptops with incubator logos on them. This place is no different from Lavington or TRM or any other place where the middle classes like to gather to exchange ideas, work on things or just unwind in between earning and living.

Ten to 15 years ago this was not the case. A coffee house like this would not be found in dust bowl. All you would find is dilapidated dusty buildings and little else. Now world class glitzy malls are opening like horses bolting for a lucrative finish line. Sijui Kitengela Mall, sijui signature mall and several more. But back to my table.

The sharply dressed baby faced youngsters in my booth look no older than 23-25 years old. They are speaking Greek IMHO...rapid fire talk about coding and algorithms and other tech fare that make the compute classes I took in first year uni seem obsolete. Their voices are animated and excited with boundless confidence and optimism. No politics here. Just taking their destiny into their own hands.

The swelling middle classes of Kenya are now untamed and there is no holding them back. The numbers don't lie. Domestic tourism cannot be contained any more. Hotels are full, Bonfire adventures and other companies have made Croesus like fortunes and won global awards from catering to the needs of the sprawling middle classes.

In the real estate industry, the clientele is getting younger and younger each year. Gone are the days when homes and plots were sold only to doddering old tea and coffee bonus farmers. I went to a site a few months ago and found a comically young guy putting final touches to his beautiful maisonette in the ClayWorks area. His occupation? A content producer for a local media company. These guys are Kenya's future.

Even among the lower middle classes and below, the changes -albeit slow - have been remarkable as the middle class rising tide lifts all boats. They are better clothed, better fed and better housed. The place I stay for example has a gardener who moonlights by washing cars for the residents for 200 Bob a pop. I counted the other day and based on the number of cars he washes, he easily scrapes about 3000 a day net, 7 days a week.

Is it any wonder then that he is building a modest bungalow in Rongai? What about hawkers? Those guys are doing very well for themselves. What about flower and tree sellers by the roadside. I once dropped about 2k picking up plants and flowers from a chap on a major highway in Nairobi. Imagine my shock when he pulled out a thick bunda of notes from his pocket while giving me change. Kenyans of all classes who are enterprising and are not waiting for a handout are all getting ahead at rapid clip.

This is what inspires confidence in the future of the economy despite the small challenges here and there that all nations on earth face, and the GDP growth numbers corroborate this.

As I take my last sip of mocha getting ready to leave, the Greek on my table continues. The coffee shop is still lacked to capacity. The aroma of freshly baked cakes, coffee, chapati and avocado salads waft deliciously in the air. We have a beautiful country, my friends. Let's put in the work and the future is ours.

Shalom.


Cool narrative, good encouragement.


Taxman is racking his brain wondering how to get to that flower guy Laughing out loudly


This runaway consumerism by a generation that is not afraid to borrow is not an indicator of economic boom. Its like our government borrowing to finance everything- then calls it development. We are digging financial holes that our children will stumble into. Beneficiaries of this chaos are Tala, Branch, Mshwari, KCBMpesa and other well positioned shylocks. And yes, the bonfires, Javas, and fancy clubs that provide platforms to flaunt this borrowed lifestyle are making a killing
Start!
Horton
#6 Posted : Saturday, January 05, 2019 11:47:03 AM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,428
Location: Nairobi
Metch wrote:
rwitre wrote:
sparkly wrote:
MugundaMan wrote:
Sitting here in this nice upscale coffee house in DC (dust bowl county i. e. Kajiado County for those still in the dark), sipping my mocha and surfing the free Wi-Fi fuaaaaa I cannot help but see that the Kenyan economy is definitely on the boom and here is the reason why.

First of all this place is packed to capacity. Hata seating space is so limited that for the first time ever I am forced to share a booth with three other youngsters. The place is filled with prosperous looking yuppies spending big. All are tech wired, with gleaming smart phones being swiped away and laptops with incubator logos on them. This place is no different from Lavington or TRM or any other place where the middle classes like to gather to exchange ideas, work on things or just unwind in between earning and living.

Ten to 15 years ago this was not the case. A coffee house like this would not be found in dust bowl. All you would find is dilapidated dusty buildings and little else. Now world class glitzy malls are opening like horses bolting for a lucrative finish line. Sijui Kitengela Mall, sijui signature mall and several more. But back to my table.

The sharply dressed baby faced youngsters in my booth look no older than 23-25 years old. They are speaking Greek IMHO...rapid fire talk about coding and algorithms and other tech fare that make the compute classes I took in first year uni seem obsolete. Their voices are animated and excited with boundless confidence and optimism. No politics here. Just taking their destiny into their own hands.

The swelling middle classes of Kenya are now untamed and there is no holding them back. The numbers don't lie. Domestic tourism cannot be contained any more. Hotels are full, Bonfire adventures and other companies have made Croesus like fortunes and won global awards from catering to the needs of the sprawling middle classes.

In the real estate industry, the clientele is getting younger and younger each year. Gone are the days when homes and plots were sold only to doddering old tea and coffee bonus farmers. I went to a site a few months ago and found a comically young guy putting final touches to his beautiful maisonette in the ClayWorks area. His occupation? A content producer for a local media company. These guys are Kenya's future.

Even among the lower middle classes and below, the changes -albeit slow - have been remarkable as the middle class rising tide lifts all boats. They are better clothed, better fed and better housed. The place I stay for example has a gardener who moonlights by washing cars for the residents for 200 Bob a pop. I counted the other day and based on the number of cars he washes, he easily scrapes about 3000 a day net, 7 days a week.

Is it any wonder then that he is building a modest bungalow in Rongai? What about hawkers? Those guys are doing very well for themselves. What about flower and tree sellers by the roadside. I once dropped about 2k picking up plants and flowers from a chap on a major highway in Nairobi. Imagine my shock when he pulled out a thick bunda of notes from his pocket while giving me change. Kenyans of all classes who are enterprising and are not waiting for a handout are all getting ahead at rapid clip.

This is what inspires confidence in the future of the economy despite the small challenges here and there that all nations on earth face, and the GDP growth numbers corroborate this.

As I take my last sip of mocha getting ready to leave, the Greek on my table continues. The coffee shop is still lacked to capacity. The aroma of freshly baked cakes, coffee, chapati and avocado salads waft deliciously in the air. We have a beautiful country, my friends. Let's put in the work and the future is ours.

Shalom.


Cool narrative, good encouragement.


Taxman is racking his brain wondering how to get to that flower guy Laughing out loudly


This runaway consumerism by a generation that is not afraid to borrow is not an indicator of economic boom. Its like our government borrowing to finance everything- then calls it development. We are digging financial holes that our children will stumble into. Beneficiaries of this chaos are Tala, Branch, Mshwari, KCBMpesa and other well positioned shylocks. And yes, the bonfires, Javas, and fancy clubs that provide platforms to flaunt this borrowed lifestyle are making a killing


1. Incase you haven’t noticed, people aren’t getting loans as readily as before. So there goes that theory of borrowed money

2. These areas are popular with airport staff, I know a lot of KQ employees live in this suburbia. So not highly unlikely what MM is saying.
Frirenn
#7 Posted : Saturday, April 20, 2019 1:51:36 PM
Rank: Hello


Joined: 12/29/2018
Posts: 6
Location: Russian Federation, Moscow
Kenya was always rich region of whole African continent itself, it's major destination for any Africa tourist tours in probably every country of the world. Being a foreigner I like that. It all smells like a ton of opportunities for me. And glad to see wars are leaving continent it seems;)
MugundaMan
#8 Posted : Saturday, April 20, 2019 8:03:30 PM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,700
Location: DC (Dustbowl County)
Mugundaman wrote:
For those who struggle to understand the difference between GDP and GNI, the meaning of Debt-To-GDP etc, here is a simple set of informal criteria to look for in order to understand that the Kenyan economy is irredemably red hawtt:

- Buildings under construction per street. I have already explained this many times before. The more there are in an economy, the more red Hawtt it is.
- Number of slayqueens: self explanatory
- Number of capital goods vehicles ( tippers, trailers with containers, Miguu kumis, tractors, excavators, bulldozers, pick ups etc) - which add to the productive capacity of the nation -on the streets. In Jewel in the Crown (Kitengela) you might be shocked to observe that every third vehicle is one of these.
- The number of American diet outlets that have invaded the economy. KFC and Burger King do not land on any Third World countries that do not have a significant and sustainable middle class mass
- The number of fat people in the slums. Yes, obesity may be a disease of the poor in the West, but in a developing economy it shows how far an economy has moved away from basic food needs. A fat person in the slums is obviously food secure even if they may still be looking for employment
- The number of new cars on the road. Despite massive investments in infrastructure, the cars keep multiplying with no end in sight
- Rapidly rising home ownership levels. Owning ones own home is the cornerstone to wealth building, financial and emotional security. The average middle class Nairobian owns their own home and I am not talking members of payslip nation
-Gambling nation. Signals massive amounts of free cash swirling around the economy.
- Swelling KRA revenues which leads to swelling budgets which leads to a swelling economy in a juicy spiral that is good for all
- Floods of highly educated youths looking for jobs. Yes, university is the ladder for all to ascend to the middle class. A smart graduate is one who creates a job for themselves if they can't find one. Those who spend their lives dreaming that another human being or government entity owes them a job simply because they are smart and have a degree are doomed to airtight poverty while marking time in the same spot
- News stories become micro vs macro as increasingly affluent economy wants no one left behind. Ivy Wangechi and Jowie become news stories. This would be unthinkable in impoverished nyayo 80s or 90s. This is a mark of all prosperous economies
- flood of inward immigrants. Burundian, south Sudanese, Ethiopians, Ugandans, drc'rs etc. This is inevitable in a dominant economy. There is a reason Nigerians are flooding Thika road suburbs and refusing to go back to Enugu.
- Western FDI flooding in with force. Your economy isn't red hot until Google, Oracle and counting all make your capital the continentwide hq of their outfits
- street kids on glue with Nike sneakers. Dirty or not.
- Lottery winning of millions of dollars
- Diasporans start leaving the West in droves given opportunities and amenities are getting better than even in the West slowly but surely.

Ni Hiyo Maoni yangu tu.


From the Kenya Economy watch thread.

And I forgot to add these ones.

- Every third shop is a hardware or construction related store in DC
- Excavators lined up waiting for customers in the Kitengela CBD
- Dust is now being swept and put in bags daily by staff in Jewel in the Crown (DC) .
- Beggars who have smartphones Laughing out loudly . I kid you not. I saw this while waking down Tom Mboya Street today.

Frirenn, karibu Kenya!
-
"The fool says in his heart, "There is no God." - Psalm 14:1
Dustbowl County is the Future of Kenya.
**1700 posts = Adios (for real this time!)**
hardwood
#9 Posted : Sunday, April 21, 2019 8:37:23 PM
Rank: Elder


Joined: 7/28/2015
Posts: 8,944
Location: Montevideo, Uruguay
You only have to visit Africa's premier real estate website www.property24.com and you will see that its only Kenya that has the most recent and interesting properties. SA, Zimbabwe, Botswana, Zambia, TZ etc are stuck in history, the real estate being traded is colonial, very old. Meaning that our economy is red hawt as @mugundaman aka @KijanaFupiAmenonaAllroundMulumulwas terms it, and construction is everywhere.
Ecclesiastes 9:7 So go ahead. Eat your food with joy, and drink your wine with a happy heart, for God approves of this.
FRM2011
#10 Posted : Sunday, April 21, 2019 10:25:30 PM
Rank: Elder


Joined: 11/5/2010
Posts: 2,329

@mugundaman, you really should get a PR job with Jubilee.

Between 2003 and 2013, kitengela created more millionaires per square KM than any other place in Kenya.

Then the jubilee curse happened.

Today, two of our cement manufacturers are down. EAPCC and ARM. And yet, the remaining players are reporting depressed sales. We have recorded the lowest cement consumption in a decade. But maybe the houses you are talking about are utilizing new tech that doesn't need cement.

Sale of land. All those companies that were making money buying and subdividing plots for sale are all in the red. Urithi,optiven, PRC, username. Let's not talk about Gakuyo. Even big saccos like safcom and stima are stuck with land they can't sell. A friend has been trying to sell a plot behind KAG university for a year now.

Houses for sale. Can I take you for a drive tommorow. We start at mlolongo behind the signature mall, then behind tuffoam and London distillers. There are over 2,000 complete houses in this area alone that have remained unsold for several years now. Funny safaricom pension fund is building another 600 units in the same area. Some developers even closed the on-site sales office. Some have been putting curtains on the houses to give a false impression of occupation.

All property developers who thrived under Kibaki are in the red. But in a twisted stroke of luck, the banks can't auction them because there are no buyers. Think of any developer, type their name on Google and chances are you will be reading about a court case with a bank.
FRM2011
#11 Posted : Sunday, April 21, 2019 10:28:42 PM
Rank: Elder


Joined: 11/5/2010
Posts: 2,329
FRM2011
#12 Posted : Sunday, April 21, 2019 10:32:25 PM
Rank: Elder


Joined: 11/5/2010
Posts: 2,329
MugundaMan
#13 Posted : Monday, April 22, 2019 3:00:20 AM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,700
Location: DC (Dustbowl County)
FRM2011 wrote:

@mugundaman, you really should get a PR job with Jubilee.

Between 2003 and 2013, kitengela created more millionaires per square KM than any other place in Kenya.

Then the jubilee curse happened.

Today, two of our cement manufacturers are down. EAPCC and ARM. And yet, the remaining players are reporting depressed sales. We have recorded the lowest cement consumption in a decade. But maybe the houses you are talking about are utilizing new tech that doesn't need cement.

Sale of land. All those companies that were making money buying and subdividing plots for sale are all in the red. Urithi,optiven, PRC, username. Let's not talk about Gakuyo. Even big saccos like safcom and stima are stuck with land they can't sell. A friend has been trying to sell a plot behind KAG university for a year now.

Houses for sale. Can I take you for a drive tommorow. We start at mlolongo behind the signature mall, then behind tuffoam and London distillers. There are over 2,000 complete houses in this area alone that have remained unsold for several years now. Funny safaricom pension fund is building another 600 units in the same area. Some developers even closed the on-site sales office. Some have been putting curtains on the houses to give a false impression of occupation.

All property developers who thrived under Kibaki are in the red. But in a twisted stroke of luck, the banks can't auction them because there are no buyers. Think of any developer, type their name on Google and chances are you will be reading about a court case with a bank.


@FRM2011,

You know opinions are like nywele. Kila mtu ana zake. But facts and statistics are a stubborn thing.

1. Please give us the KNBS construction rate-of-growth figures for 2018, 2017 and further back. Construction is one of the hugest contributors to our sweltering hot 5% plus growth rates of the past 20 years! A few empty houses with "no buyers" do not equate a whole vibrant industry. Perhaps the houses were poorly designed, or the seller lacks marketing skills. Where is that plot that has not moved behind KAG? MulMulwas Mugundaman wants to buy it.

2. Please do not make me laugh on cement companies. The reason why ARM and EAPCC are down is because of THEFT, GRAFT AND MISMANAGEMENT more than anything else, not because of any deteriorating economic fundamentals. In fact companies like Savannah (in DC of course) are BUILDING NEW PLANTS as we speak! Fierce competition as well as ILLEGAL imports from neighbouring countries (which are not captured in official consumption statistics) is what has brought cement prices down as well as the appearance of a consumption decline. The low prices have been a real boon for the consumer. If I can buy cement from Uganda or Dangote Cement for 450 bob vs 600 bob for local cement, surely it is a no brainer where my money will go.

3. "All property developers who thrived under Kibaki are in the red." This is a vicious lie and you know it papa. Pointing out fraudsters like PRC and Gakuyo as representative of the entire industry is quite a stretch. If "Qwetu" of all things has occupancy (ask Wukan), surely more conventional RE investments are doing far better. There are tens of thousands of private RE companies out there. 6 or 7 in the red is not a representative sample.

4. "There are no buyers" Laughing out loudly This is the funniest comment ever. I just bought some property juzi juzi. Are you telling me I do not exist? People are buying and selling properties left right and centre, my friend. Have you been to the and registries recently? Or land board meetings. I went to the one in Isinya na tulingoja kama nguruwe for ages as hundreds of people showed up as early as 5.30 am to get ready to be called for their land transfers to be done.
"The fool says in his heart, "There is no God." - Psalm 14:1
Dustbowl County is the Future of Kenya.
**1700 posts = Adios (for real this time!)**
Gathige
#14 Posted : Monday, April 22, 2019 12:01:07 PM
Rank: Veteran


Joined: 3/29/2011
Posts: 2,039
FRM2011 wrote:

@mugundaman, you really should get a PR job with Jubilee.

Between 2003 and 2013, kitengela created more millionaires per square KM than any other place in Kenya.

Then the jubilee curse happened.

Today, two of our cement manufacturers are down. EAPCC and ARM. And yet, the remaining players are reporting depressed sales. We have recorded the lowest cement consumption in a decade. But maybe the houses you are talking about are utilizing new tech that doesn't need cement.

Sale of land. All those companies that were making money buying and subdividing plots for sale are all in the red. Urithi,optiven, PRC, username. Let's not talk about Gakuyo. Even big saccos like safcom and stima are stuck with land they can't sell. A friend has been trying to sell a plot behind KAG university for a year now.

Houses for sale. Can I take you for a drive tommorow. We start at mlolongo behind the signature mall, then behind tuffoam and London distillers. There are over 2,000 complete houses in this area alone that have remained unsold for several years now. Funny safaricom pension fund is building another 600 units in the same area. Some developers even closed the on-site sales office. Some have been putting curtains on the houses to give a false impression of occupation.

All property developers who thrived under Kibaki are in the red. But in a twisted stroke of luck, the banks can't auction them because there are no buyers. Think of any developer, type their name on Google and chances are you will be reading about a court case with a bank.



@FRM2011, There is a certain category of housing, those between 4.5-6.5m, IMHO, that are still moving very fast, indicator that there is a category of buyers who are still buying. In my hood ( within the greater DC), a developer snapped half an acre at a bargain of 12 m and developed 6 units and all were taken at circa 5.5m each. Then bought another portion double the size and put up some more and they all went. His limitation now is space which is now all gone. This category of housing is still moving fast.

Most of the plots are still over-prized especially the ones without any infrastructural development. Land going for around 500k per eight in most DC locations, not far from amenities, are still going fast
"Things that matter most must never be at the mercy of things that matter least." Goethe
hardwood
#15 Posted : Monday, April 22, 2019 1:46:11 PM
Rank: Elder


Joined: 7/28/2015
Posts: 8,944
Location: Montevideo, Uruguay
Dustbowlers are now living like kings......nairobians will be jealous.





Ecclesiastes 9:7 So go ahead. Eat your food with joy, and drink your wine with a happy heart, for God approves of this.
2Czar
#16 Posted : Monday, April 22, 2019 5:29:43 PM
Rank: New-farer


Joined: 12/28/2018
Posts: 58
Location: Helsingborg, Sweden
Kenya has a true potential for growth and development. There are a lot of resources to utilize, and whther human, natural or whatever. I however disagree with those saying that the economy is so doing very well. I mean, does borrowing to pay debts and harrassing innocent citizens by harsh taxes constitute a good economy?
MugundaMan
#17 Posted : Monday, April 22, 2019 5:56:20 PM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,700
Location: DC (Dustbowl County)
2Czar wrote:
Kenya has a true potential for growth and development. There are a lot of resources to utilize, and whther human, natural or whatever. I however disagree with those saying that the economy is so doing very well. I mean, does borrowing to pay debts and harrassing innocent citizens by harsh taxes constitute a good economy?


Debts is one thing, taxes are another, a red hawwtt economy growing at 5%+ for the past 17 years is yet another. Such blistering growth rates aint no joke bruh. GDP growth rate is the FORMAL gold standard in measuring whether an economy is hawtt or not. If we measured economic vibrancy by how much "harsh taxes" are charged, countries like Canada would be the least developed and least economically viable countries in the world.
"The fool says in his heart, "There is no God." - Psalm 14:1
Dustbowl County is the Future of Kenya.
**1700 posts = Adios (for real this time!)**
FRM2011
#18 Posted : Wednesday, May 08, 2019 12:43:16 PM
Rank: Elder


Joined: 11/5/2010
Posts: 2,329
https://youtu.be/B__SMl13LIQ

https://youtu.be/ERX7xr-5Wlg

I want to hear wazua's only remaining jubilee spinmaster, @mugundaman.

A shop that was attracting goodwill of 2M in 2012 is now being offered without goodwill and nobody is interested.

I try to understand and rationalize jubilee's insatiable greed. It's evil and demonic but it's human nature. That I can understand.

What I can't understand, is this deep hatred they have for kenyans. That which they can't steal, they must destroy to make sure it doesn't work. Public health system, education system, bad fertilizers to farmers. Now they have their guns trained on the small traders in the informal sector.


wukan
#19 Posted : Wednesday, May 08, 2019 1:01:01 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,128
FRM2011 wrote:
https://youtu.be/B__SMl13LIQ

https://youtu.be/ERX7xr-5Wlg

I want to hear wazua's only remaining jubilee spinmaster, @mugundaman.

A shop that was attracting goodwill of 2M in 2012 is now being offered without goodwill and nobody is interested.

I try to understand and rationalize jubilee's insatiable greed. It's evil and demonic but it's human nature. That I can understand.

What I can't understand, is this deep hatred they have for kenyans. That which they can't steal, they must destroy to make sure it doesn't work. Public health system, education system, bad fertilizers to farmers. Now they have their guns trained on the small traders in the informal sector.




You should provide a summary of what is being said in the videos. Not everyone on wazua speaks Kikuyu. I only understand part of it because of spending time with Okuyus
FRM2011
#20 Posted : Wednesday, May 08, 2019 3:43:30 PM
Rank: Elder


Joined: 11/5/2010
Posts: 2,329
wukan wrote:
FRM2011 wrote:
https://youtu.be/B__SMl13LIQ

https://youtu.be/ERX7xr-5Wlg

I want to hear wazua's only remaining jubilee spinmaster, @mugundaman.

A shop that was attracting goodwill of 2M in 2012 is now being offered without goodwill and nobody is interested.

I try to understand and rationalize jubilee's insatiable greed. It's evil and demonic but it's human nature. That I can understand.

What I can't understand, is this deep hatred they have for kenyans. That which they can't steal, they must destroy to make sure it doesn't work. Public health system, education system, bad fertilizers to farmers. Now they have their guns trained on the small traders in the informal sector.




You should provide a summary of what is being said in the videos. Not everyone on wazua speaks Kikuyu. I only understand part of it because of spending time with Okuyus


The two kikuyu tv stations both ran this feature over the weekend. Here is a summary.

The businesspeople in Nairobi downtown have been through hell from 2017. Immediately after elections, the govt came after their businesses.

First it was on the excuse of evading taxes. Funny because it's KRA that clears all the goods.

Then KEBS joined in accusing them of bringing in sub-standard goods.

The anti-counterfeit authority jumped in as well. They formed an animal called multi-agency to clear all the goods coming in. This brought in DCI and NIS as well. They banned consolidation as well.

To be fair, the govt had benign intentions. But the sheer incompetence and laziness meant poor businesspeople would pay the consequences.

A case in point. When the operation started, the agencies didn't even have storage for the impounded goods awaiting verification. In 2017, goods worth 100s of millions were destroyed by rains in a yard owned by kebs. As the importers were busy looking for the certificate of comformity from the agency subcontracted by kebs, their goods got destroyed.

So now it's hell getting goods into Kenya. And when they come, the prices are outrageous and the time taken beats business sense. That is how the shops get closed.

But wait, how comes there is no shortage of chinese merchadise ? A miracle really. The same goods which kenyans can't import, Chinese are bringing them everyday. No questions asked.

Hard to understand why they hate the people who voted for them this much.
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