NAIROBI, Kenya, April 30 – The Kenya Revenue Authority (KRA) is looking to streamline revenue mobilization through a collaborative approach with the Kenya Bankers Association (KBA).
Following a high-level meeting between KRA Commissioner General Humphrey Wattanga and KBA CEO Raimond Malonje, it was noted that the two entities play critical roles in spurring economic growth.
Wattanga acknowledged the banking sector as a key stakeholder in Kenya’s financial sphere with a significant contribution to revenue.
“The banking industry contributes about 10% of the total revenue that we collect and we welcome these consultative interactions for better facilitation of the sector,” he said.
Previously, KRA and KBA collaborated on technical expertise and research assistance during the development of the 2022 Total Tax Contribution studies, in which 39 banks participated.
The leadership engagement draws from KRA’s service-focus approach, whose key objective is to enhance the efficiency of tax administration through technology-driven service delivery and tax base expansion.
On his part, KBA CEO Raimond Malonje reiterated KBA’s commitment to contribute to Kenya’s economic growth and support the government in fulfilling its mandate to the people.
He added that the banking industry would collaborate with KRA to unlock any bottlenecks within the ecosystem and drive revenue growth.
