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 Trims Tax Collection Target, Ramps Up Borrowing Plans

6 days ago | news.bloomberglaw.com | David Herbling

Kenya cut its tax revenue target for a second time and raised borrowing forecasts in the wake of protests that brought the economy to a near-standstill. The East African nation is now targeting collections of 2.4 trillion shillings ($18.5 billion) for the fiscal year through June, Treasury Secretary said in a Thursday government notice. That’s 3% below a revised target of 2.475 trillion shillings. Tax collections in the first nine months have covered about 66% of the revised target.
Kenya Trims Tax Collection Target, Ramps Up Borrowing Plans

6 days ago | bloomberg.com | David Herbling

Deadly protests last year forced President William Ruto to drop controversial tax plans. (Bloomberg) -- Kenya cut its tax revenue target for a second time and raised borrowing forecasts in the wake of protests that brought the economy to a near-standstill. The East African nation is now targeting collections of 2.4 trillion shillings ($18.5 billion) for the fiscal year through June, Treasury Secretary John Mbadi said in a Thursday government notice.
Kenya Scraps Program to Build Roads Via Bank Loans Over Costs

6 days ago | bloomberg.com | David Herbling

Road construction in Nairobi. (Bloomberg) -- Kenya has terminated a program to build 10,000 kilometers (6,214 miles) of roads financed by commercial bank loans due to concerns over the cost of the projects, according to a senior government official. The East African economy will now fund these mostly rural road projects via budget financing after scrapping the so-called road annuity model introduced in 2015, Roads principal secretary Joseph Mbugua told lawmakers on Thursday.
Kenya Seeks Realistic IMF Deal After Tax Protests, Trump Tariffs

1 week ago | bloomberg.com | David Malingha |David Herbling

Commercial and residential buildings in Nairobi, Kenya. (Bloomberg) -- Kenya is seeking realistic targets in a new program with the International Monetary Fund, according to a top government official, following deadly protests over taxes and US President Donald Trump’s trade levies. The East African nation’s government will start talks with the lender this spring and probably conclude a deal by November, Prime Cabinet Secretary Musalia Mudavadi said in an interview on Tuesday in London.
Kenya Seeks Realistic IMF Deal After Tax Protests, Trump Tariffs

1 week ago | news.bloomberglaw.com | David Malingha |David Herbling

Kenya is seeking realistic targets in a new program with the International Monetary Fund, according to a top government official, following deadly protests over taxes and US President Donald Trump’s trade levies. The East African nation’s government will start talks with the lender this spring and probably conclude a deal by November, Prime Cabinet Secretary Musalia Mudavadi said in an interview on Tuesday in London. He declined to give details of potential terms of the program.
Kenya Seeks Realistic IMF Deal After Tax Protests, Trump Tariffs

1 week ago | news.bloombergtax.com | David Malingha |David Herbling

Kenya is seeking realistic targets in a new program with the International Monetary Fund, according to a top government official, following deadly protests over taxes and US President Donald Trump’s trade levies. The East African nation’s government will start talks with the lender this spring and probably conclude a deal by November, Prime Cabinet Secretary Musalia Mudavadi said in an interview on Tuesday in London. He declined to give details of potential terms of the program.
Kenya Seeks Bids for $245 Million Power Lines After Adani Exit

1 week ago | bloomberg.com | David Herbling

Electricity transmission pylons in Hells Gate National Park in Naivasha, Kenya. (Bloomberg) -- Kenya is seeking private investors to develop high-voltage transmission lines months after it canceled a deal with India’s Adani Group. The East African nation is inviting competitive bids for investors to construct and operate four power lines estimated to cost about $245 million, according to a notice on the National Treasury website.
Rwanda Sees Tax Reforms Easing Impact of Congo-Related Aid Cuts

1 week ago | news.bloomberglaw.com | Ondiro Oganga |David Herbling

Rwanda’s economy will weather the aid cuts triggered by its alleged role in the conflict in neighboring Democratic Republic of Congo by implementing fiscal reforms, the new head of the nation’s central bank said. Britain, Belgium and Germany froze financial aid to Rwanda earlier this year for backing the M23 rebel group, which has captured a swathe of territory in mineral-rich eastern Congo.
Rwanda Sees Tax Reforms Easing Impact of Congo-Related Aid Cuts

1 week ago | news.bloombergtax.com | Ondiro Oganga |David Herbling

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Kenya Cuts Key Rate by More Than Expected Amid Tariff Worries

2 weeks ago | financialpost.com | David Herbling

“Overall inflation is expected to remain below the midpoint of the target range in the near term, supported by a low core inflation, lower food inflation, stable energy prices and continued exchange rate stability,” Thugge said. Annual inflation has been below the 5% midpoint of the central bank’s target range since June. It quickened to 3.6% in March from 3.5% a month earlier, and core price growth accelerated to 2.2%, compared with 1.9%.