it can be measured precisely, and yes, each person says it differently as if there are different forms of time time, a phenomenon, a dimension and illusion. about time starts april 14 on d, w i. hello and welcome to a brand new edition of the 77 percent. this is the show for africa youth. and i'm your host, mike lety with they say money makes the world go round. but what happens when you don't have any of it? yes was coming up on today's show. on the streets of nairobi we debate while many young people are drawn in debt. we meet or wonder under printer who is staring young students towards their right career path. and nigeria and teams to pass that

little lizza has a message for africa. girls can't do anything they want. let's kick off today. sure. with an observation. i've seen many young people in gunners, kupta le crop glued to the mobile phones, placing bets on football games over the last decade. sports betting has become big business in africa. and us, we about to find out the sticks can be very high. some people like dennis more guy have in how to sell dea last cookin port to place bets. let's find out more bernardino, tom. there's no suit of money than that. that's the sweetest, elderly, sweet, especially when he received the message you've worn local from. you feel like you're on to born, but known as in britain. it's only the ausa twins. ah . as i said, no less am. i mean lately, li,

call myself a beating addict. you know, it's hard because i believe that's like a job. you know, let's say it's a job i do, but cannot do without unless i get a better option. senior senior 0 agent might sneak up at our auction as arch michelle's at at t v. i have even a sodomite television cell phone. but the funniest thing, how sort of was open port to a friend, and it was the only one i had for repairing a gun, a leak. while my dad i had to lay to him, but it was an a mighty issue. i wanted to saw that and just so i could get 200 shillings for beating us or what not getting it is life. neil, i couldn't gambling. my kiddies of $1500000.00 in a in that i get my get has always been our age between 18 and that to, for, to that to fail and on there. and these compresses over close to 80 percent of the gambling market and that he's on while we've gone with

a population less than most of the countries, it's the internet penetration lit in a more well can interest of needed get. another factor that has mid there can and my kids grow very fast, is and better. so there and best up a mental model is able to make $1000.00 deposit and with joyce 20 over 80 percent of the option of this country's unemployed. and then the majority, so you find that you were unemployed. and then you see a britain, i'd rather you think that if i better, i'm going to make some money and become rich. go off equal budd company, come the government for not been beaten companies without giving us an alternative of best bidding provides some sort of obama. you can wind that money if you win, you'll not need that is tailored or if the bond it more people would result like ryan because only want is money and then, and the government does not provide such opportunities for elastic or worried shape . what as i the biggest amount i have lost, i went to 114 pelham ceilings, been with the group 7000 and left a balance of 6700 in my account. that is

a lot of money before your hassle and i'm on such money. i will need to have done a lot, for instance, i spend and, and shillings a day for my meal only. so 100 times 30, that is 300-6700 shillings that trust less to 2 months and some day. this is me, eating will fail. so losing bills, money, hard to the point i decided i was done with betting, but you know how it is used of what might then to morrow coffee and you look and again i, li, i cycle repeatedly on, on my game. if it only betting is big enough in the company that want to invest in betting in africa is, is that aged him? because country country is opening up in terms of internet and mobile penetration leads to them all believe that better gets judged ally, what would betten does kids force hope? you're going to win some money. and so you think, because you're betting you're walking out watching, you're actually allowing someone to steal money from your form knowingly. if

beckoned. companies can fuss at which to everyone. that veteran is handful, is dangerous in baking cubes. then we can talk about regulation. now to make it safe for every one. so us we've just seen 20 years there to into saelens. there can seem like nothing but really consistent. sports betting can be a major challenge. but us are the only reason why people are getting into debt at us are taken our laws for all sorts of reasons which eventually passed on and leads to crash in debt. so we asked you why some people would take out loans. they know they can't afford to repay. and yes, what you've been saying, nelson k, helen says the interest rates on small business loans are crazy. however, does not generally the reason young people struggle to pay them back. the main reason is a poor business plan. and classic mind, i'd be more law says this system is actually the problem that things we need to

take out a loan for should be provided by governments. we have hot, bad lead us, thus teela money and national wealth. so with the seem like high interest rates on loans are a big problem across the continent. where on the streets of nairobi as that many young people are borrowing money simply to cover their daily spending and our very own edit, kimani engages in a very eye opening debate on why so many nairobi. ants are finding themselves in a lot of debt. ah, the 77 percent is back in a row b kanyes capital and it is here that as of april last year, we were told that 14000000 loan accounts had been blacklisted by what we call the credit reference bureau. these are the people who basically determine whether or not to get credit, and for those people, they're at risk of either not getting financial services at all,

or getting limited access to credit. so we're going to start with emanuel, who's really a representation of what most kenyans experius been caught up in the dead cycle. so emmanuel in 2019 before cove, if you had a job as a waiter and then 2020 happened covey, you lost your job. unfortunately, and i'm sorry, and then you decided life is too tough. i need to borrow money. so where did you go? i went to to bang, to borrow 217000. and when you went to the bank, what did you say you wanted the money for? what you honest, that you wanted to use this money for rent? no, i just borrowed the money money to pay for some vacation. so use you like it to pay for so if i needed the money or that more. yeah, you are desperate sir. okay, i understand that eric, you are in a similar situation. right. tell me what was the constance's led you to borrow it? of course i needed to do my stuff. you shall establish, shall, routine, break for us for lunch. things like credit for new. know? yeah. you of your girlfriend there you of. you have your girlfriend there. you are

borrowing to take care of your girlfriend. no, you know, if you don't to perform, she moved, so you're everything to make. okay, well that's interesting because what these 2 gentlemen are telling me is quite honestly surprising. the statistics from the digital lender, that association of kenneth says that people borrow money primarily to invest in their businesses. and then that you cation, but not necessarily for recurrent expenditure. people will not be harnessed with verizon for boring, basically in most of the loans that are consumer based loans. basically the good to the current expenditure and most times because those loans to not generate income and then default they're not paid. so basically you start choosing up after people who borrowed loans from you and basically put them into explained in waco, to buy for these nothing that to get out of it, that money is consumed. you have a head to go to tony. i'm coming to you, please don't run away because i could hear you me and, and i mean in the background. currently the interest rates on average and can are

24 percent for any money, but 24 percent is the average or any money borrowed. and usually when you're going anything, the chance of you getting a 24 percent return on that investment, it's upset. it doesn't matter what you invest in gold to try. it doesn't work in a 30 day period. yes. so how do you expect people in the country that the middle income, like the friends here to come up with a kind of capital, want to come up with that period of time. ok, so let's come to the ladies here because you're both entrepreneurs and also relying on credit from banks, from maybe some of these mobile apps that we're hearing, you know, for you to wear a bank. you have to deposit in a buck your cash flow statements in and out. mean the type of loan you get. so my 1st thought was something called lending ups. and then there's so many that i can start with, nor knows me. you know, none of my problems, i can start from that. would you credit the success of your business? right, keep the capital injection to credit. yes. when you're fresh from school, you're usually toil. please leave your money, you know, pocket money,

but you don't see the essence of that. and to give you a new school. so you would literally started learning the ropes and you realize, oh, so they'd lending ups and i personally, would it be worked for me because i was able to find my business is especially operating expenses with the lending. okay. let me come to tony here for a 2nd because we're hearing that family and friends actually close to 2 to the 2nd largest majority of where we get a credit form. this was astounding to me that before you go to a bank, you go 1st to a 3rd party who is until december unregulated and then you go to your family and friends, talk to me about that. yeah, over the last 10 years, digital ending up having started in canada most difficult crazy. is that the regulatory framework for it? we 7 years too late. and i also think that when it's over the last 7 and a half years when fintech i've showed up, it's when it moved from family and friends and then institutional, exactly jama. banks to finish up k b. s. can be statistics. has only 17 percent of the people between the ages of

$23.00. that if you have a business that makes them any form of money. so when you have a 60 or 90 day credit system where you getting your money from ok, let's come back to eric because obviously eric, you are not worrying from your friends. you are boring from these mobile lender that we're talking about digital lenders, and you go in there, you put in a couple of details. boom. they have all your information and you have your 2000 shillings. if you don't give them this money all time, what happens? okay, they take a few, then send you a couple of messages from your phone. even i stopped using one with one of me now mobile number because of the now do i you sending me messages. okay. you, man, you have, you had a similar experience with people. well, you know, calling calling you threatening you with things. what was the experience when it came to the collection of the most friends that live with their money to handle them? so if they're coming out the big television, so it was your friends who are actually coming to your house. busy yeah,

to take items that will of significant value in order to repeat them. so now up them on. yeah, i want to come back to just for a 2nd because i think basic economic theory states that a person who loves money must be prepared to not get back in return. should the lenders, the washington's of this world, assume some degree of risk. and therefore, the question of you have to pay your debt. is it really accurate? the person that is lending you money? they're spending, so i can lend you money. so it doesn't make any sense that if they get into a contractual a goodman to do that, you fulfill this and they fulfill my part of the obligation. come on, joshua, let's not kid each other. we've just heard that people are using text messages, calling you employers to harass you, but by that's what you got into when you agreed to the terms of the engagement that you got into. if a contract no. the family. no, no, no, no, no, no, no, tony says no away, only got a data protection act person every single individual from having to phone, scraped in their details, used for anything but without compliance,

without consent. and even when they ask you for consent, they still cannot use your data against you. they can use your data for creating credit score systems or anything like that. the can check all of these things, but no one should be allowed and no one can be allowed to come and use your information against you to call your mom or your best friend or your husband or your wife. it's illegal, flat out simple. let's come to the educator olive solutions. my 1st solution, e books, you know, they were quite a read on it, said i hiding from mission in books because africans when i read them, if books are not your thing, right, just go to google and decide every money. i'm going to you such 10 articles about boring 10 articles about managing money. and then the final one point across is mindset. let's or not to yes, i didn't have money i board. but can i also have the respect to at least be bought out? yeah. graham washington, very quickly, solutions. so i think from a very tender age, as, as, as parents under people are growing up, we need to inculcate the cultural, financial management and ourselves. so that when, when it comes to boring musical,

you cannot avenue from that. but when you're boring your body for that purpose, you your body want to contribute to repeat bone within your means and also we need to and hopefully within our me. well, thank you so much. this has been such a wonderful and inciteful debate. i've learned so much, it's felt a little bit like an economic class. i don't know how you felt, but if there's anything of learned is that it's not that clear cut is debt any comic issue or a social one. to be honest, i still don't know, but i know that i'm thankful that you're watching a santa santa thing. so that's the question we're leaving you with. is that on economic or a social issue? let us know what you think. and as always, you can watch a longer version of this street beat on our youtube channel. the best way to make sure that the young people don't get trapped in their bed cycle in the 1st place is to provide them with well paying jobs. but we all know that find in your dream job

isn't exactly a walk in the park. so let me introduce you to alan. can don't go that kigali bass until for now. health assess students on the right career path after graduation. ah, why did i come back and knew from the moment i realized there was a problem in our workforce here in one that i have that it's something that didn't let me in my mind, if i went out and i tried thinking that, you know, when you're not fully invested in something, it's hard to kick it off and get it my name is and then kinda found and i found that much, we are working close the skills, go up to korea, guidance and current focus for students. i was born in

uganda, growing up in a different culture, pushes you to be more adventurous in the way because you learn the language and culture, you explore different things. ah, i do remember when i moved to want to present greed. also feel like there's a culture shock for them me. ah, after i finished my high school, i good an institute to study abroad. i went to buddy in the us where i did my undergrad of the phrase in left for school. i knew i was going to come back what i was going to come back to do was and what time the phone to go. then when i got there, that's when i figured there's a problem. and i consulted. ringback people have a perception of what america is, but i think when you get that you see reality see both sides to the story which you

don't get. i was in no way like really mind blown by that full man. but i was also shocked at how much need they also after i worked for a year in new york, couldn't jump right in. oh, so the problem does can this much of a lack of skills for young graduate and also the mismatch between what can last want and what students have to or graduates have to offer our education system changes really fast in that quick change doesn't give a lot of students time to learn, just to feel confident in the skill sets that they have. but the other part also come from, you know, employment space and employers not really putting investment in value on preparing the next generation of workers who go out

we learn from, you know, industries, practitioners. we bring that and we fill it in you know, students over time people in that quest at the adel having functioning, career centers within education, to sure they're not waiting for people to graduate. and then we think about how to best present for the market. my advice to anyone with abroad and they are thinking about coming back. if you hire it tells you to do it. do it the worst case manual you try something, it doesn't work. you people to do something else sick. maybe you don't have to jump right in, you know, come to the water. so i hope can do a half if you to go out there and never give up on london the job you've always

dreamed about. but let me be honest with you. not everyone will find on his job. so have you can see that famine is the biggest source of employment in africa. and now with new technology, it means that it could just be your big brick. but don't take it for me. rebecca moore is a tech savvy farmer who when the feels by her mobile phone. let's had to you, but done to find out more in agriculture is a big business in line area. whether you're plucking peppers or harvesting tomatoes or something for everyone's table and taste. but farming is also cool and becoming tech savvy. now, you can even manage acres of land using nothing but your mobile phone. and rebecca, i'm all the brains behind the operation for causal and just called

wanda initial, typically for their basic needs for their home. but correctly, we have a class of people wanting to be part of the fun from this one program. currently we have over 10000 subscriber. rebecca is actually a computer science graduate. she wanted to find a technological solution to form an inefficient after seen her mother and other from a battle for many years. she originally founded way and more forms in 2016 to solve the post office waste problem. but during cove it she witnessed many nigeria struggling to buy food. the phone from the phone program was launched during the holiday week of the course. 19 funding was created this point and it's interesting and cultural. and to also create them for the month, especially dudes and showing the end of a studio from the conference or from rebecca co found that the african wealth initiative with other young professionals to create a program that allows everyone to participate in farming. and with the benefits i

put in, because my morning walk from me, having a reliable team do something and i get benefit out of it, which was lovely. i try to from, from your phone because it is actually, it's, it is a for me i can, if i'm on my phone instead of going to farm. so wrong piece and then i'm getting my income or need i need for been in the market for remote for i mean is booming and rebecca is making sure that quality control is a top priority. for instance, she and her team a keeping the use of pesticides to a minimum. we carry her sawyer analysis. what analysis restore the pavilions, pests, iraq, any climate, and diploma conditional the please. that helps us understand the balance they exist in the environment already. so that help shows a neuro and the kind of an organic process to follow some water and reduce the

attack whole pest on to increase productivity. and that's how you go farms to market. in the 21st century, rebecca and her team have made it easier than ever to become a farmer with a swipe of your finger instead of a vehicle from you. but um, let's head down to legals this, this plenty of people make a living from youtube, instagram or take talk. if you're 30, you might struggle to wrap your head around this idea. so sit back and let 9 year old instagram sensation little lisa, explain a pen, everybody. i am angel or yet you're anywhere in lagos, nigeria, today on down on mute. we are jerry night out more to silence said lisa, it will be in that we hear widely known as lisa, lisa,

a. why did you change the lyrics of the songs that you re mix? i changed it because i want it to be simpler for people to on this for kids my each to understand. i why do you think in evil? i think any will because i'm a corrective, we'll go and fall for to to keep my language alive. how do people react? when do you hear you sing in the hall? if we are like, wow, this is amazing. i knew that this girl from equal tribe. and if you them, the 1st are stick, read in the woods. so i remember i did a cobra full finnow hi week by him. a good idea of luca dave. all the level of freedom with them dazzle was look at it, go. i love our confidential, much is really smart. i believe when i pre day to get house only and future

i a go child is nolly beaten the kitchen the kung. but the speeches deemed like dancing, singing, being a lawyer acting, and so on. so i say once again, i'm new to the go child who few on the stand a has we created several songs given them new lyrics. now we'll wait for the next challenge to see her as a scientist. oh, as an engine. yeah. to recreate, i'm positive, the judge world around her from lagos, nigeria, i am ange, out on unique way. i love you all. so all of you about that he's all day. i hope lisa hoss inspired you to give social media a try. and of course,

we are already on instagram, youtube, on facebook. if you haven't liked our pages yet, what i waiting for a part of the subbing to 70 percent family. and we hope today's show has given you some tips on how you can set the pressure of debt and be your own boss. that's set for this week. but before i go test a little surprise for you. this is little alyssa, but a cover of luigi and sizes are 4 beats heads. one lisa. my name is mike latino. thanks for watching. i

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ah ah, this is, did you news live from berlin? the 1st refugee convoy has made it out of the devastated port city of mariel buses in private cars, evacuated around 3000 residents from the port city of ukraine. but humanitarian aid wasn't allowed in, and more than a 150000 people remain trapped in desperate conditions. also coming up hungarians, head to the polls on sunday, the united opposition wants to unseat incumbent victor or men. but his close ties to russia could tip the balance and what experts predict to be.