David Herbling

Nairobi

Educator. Observer. Afro-optimist. Think & do. Corre @BloombergAfrica| Half-marathons keep my think clear. 2015 @AlfredFriendly fellow-@chicagotribune (own op)

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Articles

Kenya Says Tullow Asset Sale ‘Raises Concern’ for Oil Sector

1 day ago | bloomberg.com | David Herbling |Paul Burkhardt

(Bloomberg) -- Kenya lawmakers said a lack of detail over Tullow Oil Plc’s sale of oil assets to local company Gulf Energy “raises concerns” for the industry in the East African nation. Tullow ended a decade-long quest to develop discoveries in April, when it sold the inland fields for $120 million to Gulf Energy, a Nairobi-based oil and gas trader. Tullow has announced divestments in recent months toward reducing its debt below $1 billion this year.
World Bank Restarts Uganda Lending After Halt Over LGBTQ Law

2 days ago | bloomberg.com | Fred Ojambo |David Herbling

Downtown Kampala, Uganda. (Bloomberg) -- The World Bank agreed to restart lending to Uganda almost two years after it suspended new loans to the East African country following its enactment of a harsh anti-LGBTQ law.
Kenya’s Low Inflation May Mask Deeper Economic Strain, Analysts Warn

1 week ago | bloomberg.com | David Herbling

An employee talks to customers inside a tech store in downtown Nairobi, Kenya. (Bloomberg) -- Kenya’s sustained low inflation rate may be a sign of a struggling economy, analysts warned, casting doubt on policymakers’ contentions that slowing price growth is down to effective policy.
Kenyan Inflation Stays Below 5% for Longest Run in 15 Years

1 week ago | bloomberg.com | David Herbling

Street vendors sell second-hand clothing on a shopping street in downtown Nairobi, Kenya, on Saturday, Dec. 5, 2020. Kenya is seeking a loan of as much as $2.3 billion from the International Monetary Fund under the lender’s extended fund facility.
China, $3.7 Billion Pension Fund Seek to Build Key Kenyan Road

1 week ago | bloomberg.com | David Herbling

Road contractors in Nairobi. (Bloomberg) -- China Road and Bridge Corp. and Kenya’s biggest pension fund jointly bid to build a 175-kilometer (109-mile) part of a highway linking the East African nation’s capital to neighboring Uganda. The National Social Security Fund, which manages 477 billion shillings ($3.7 billion), will join China Road for the project to construct the road from Nairobi to Mau Summit.
China, $3.7 Billion Pension Fund Seek to Build Key Kenyan Road

1 week ago | flipboard.com | David Herbling

China Road and Bridge Corp. and Kenya’s biggest pension fund jointly bid to build a 175-kilometer (109-mile) part of a highway linking the East …
Kenyan Growth to Slow on Debt, Fiscal Pressures, World Bank Says

1 week ago | bloomberg.com | David Herbling

(Bloomberg) -- Kenya’s economic growth rate is expected to slow for the second straight year amid headwinds from tight public finances and high debt levels, the World Bank said. The Washington-based lender forecast Kenyan gross domestic product growing 4.5% in 2025 from 4.7% a year earlier. That will be the slowest pace since 2020, when the Covid-19 pandemic struck. Growth is projected to pick up to 5% in 2026-2027.
Kenya’s Forex Reserves at Record $10 Billion to Buoy Shilling

3 weeks ago | bloomberg.com | David Herbling

Kenya’s dollar-buying spree has raised its foreign-exchange reserves to the highest yet, with some analysts saying this could keep the shilling steady for longer. The central bank held $10.3 billion of reserves by May 8, surpassing the regional bloc’s minimum target of 4 1/2 months of import cover. Inflows from exports, remittances and a $500 million loan from Abu Dhabi and proceeds from a eurobond also boosted coffers.
IMF Plans Kenya Debt Sustainability Study Ahead of New Deal

3 weeks ago | bloomberg.com | David Herbling

IMF branding. (Bloomberg) -- The International Monetary Fund plans an in-depth review of Kenya’s debt to determine the nation’s financing needs under a new program. A debt sustainability analysis will be conducted “by the time of the IMF board’s consideration of a request for a new fund program,” a spokesman said in an emailed response to questions.
Kenyan Leader Ruto Switches Tack on Taxes After Deadly Protests

1 month ago | news.bloombergtax.com | David Herbling

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