In Q1 i.e January, Feb and March, Equity Bank’s profits dropped by 14%. Imagine how the performance will be by the end of the year. I predict that almost all listed companies will issue profit warnings this year. Bookmark this for future reference. We are in a true financial crisis. 2008-9 style with a bonus of covid-19 to squeeze the balls of business people until their eyes water. Equity Bank already rescinded its decision to pay the annual dividend this year to shareholders. Stay liquid.
We are in a global economic depression. Don’t listen to pundits who predict there’s going to be a V shaped recovery. Things are about to get very ugly.
After X amount of years, businesses have to restructure, and rejuvenate, these usually occurs when the economy goes on recession .
The hand of recession is swiftly gonna weed out a number of businesses courtesy to this pandemic.
The question should be, what kind of expertise do businesses need, so as to sail thru recessions ?
one question we should be asking ourselves , where has all the worlds wealth gone too ?
Keep in mind wealth can not be destroyed , it can only be transferred
It never existed in the first place - a large part of it anyway. Banks create money out of thin air through fractional reserve banking. The zeroes in your ATM statement aren’t actually in the banking system. They aren’t backed by actual cash. That’s why bank runs are the most feared incidents by bankers. If every customer demands his money at once, the bank doesn’t have that money.
:D:D:D:D:D:D:D:D:D:D:Dyour problem is you usually try to compete with me, but I will answer you easily, the effects ata bado haijaanza proper.
Be fixated by Covid-19 deaths numbers, the effects of it are worse more. When people will be taking stock of how life has changed you will understand properly the magnitude.
Over 150k formal jobs have been lost.
Check today press brief by CBK governor about fate of small scale business. You will get the effects picture.
In a recession, people stick to basics. Basic food, basic housing, basic education, basic healthcare, basic everything. The people who will be most affected are people who don’t sell basic goods or critical services. E.g the tourism sector, fine dining, etc.
Sidhani…bado hawa wasee wanatafuta watu wa kulend…hata ka sio kila mtu, i think wana review certain clients juu hii monday imepita nimerecieve 5 messages from different lenders ati nichukue loan. Zote ni 5 figure by the way. Pia my 92 year old grandad got 2 offers pia 5 figure.
Iko tu. You just cant spend it all in one swoop. And the guys holding the wealth already have all they want and need and even more. I think the message ya yote ni vanity ita sink in vizuri sahi. Hio pesa yote the greedy wamekuwa wakihoard…walifikiria wataipeleka wapi. Vitu za dunia tutaziwacha tu hapa.
My cousin is back home, he used to work in the tourism industry, lucky thing he is also a potato farmer in two weeks time, he will be harvesting his crop. It’s a pity for those that don’t have fallback plans.