Kenya Bankers Association

The banking sector has significantly increased its tax contributions, doubling over five years to KES 190 billion in 2023. From 2018 to 2023, it contributed KES 825.16 billion in total, accounting for 8.78% of all government tax revenue in 2023. For every KES 100 generated by the industry, KES 57.2 is paid in taxes, KES 27.8 to employees, and KES 15 to shareholders. In 2023, the sector paid KES 73.05 billion in corporate taxes (28.59% of Kenya's total), KES 28.93 billion in PAYE, and KES 23.81 billion in excise duty (59.45% of the financial services' excise duty). This growth is driven by the banking industry's support for MSMEs in formalizing, accessing credit, and contributing to the economy. FULL REPORT: https://lnkd.in/dJHM-vKD #InuaBiashara #InuaBiashara

We are pleased to partner with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH to promote sustainable finance in Kenya! Our collaboration will focus on blended financing, nature-positive projects, and developing financial products for youth & women to drive financial inclusion. #SustainableFinance #Kenya #FinancialInclusion #GreenFinance

Financial Sector Deepening (FSD) Kenya, the Kenya Bankers Association (KBA), and the Association of Fintechs in Kenya (AFIK) have united under the Open Finance Initiative to drive a new era in Kenya’s financial sector. This collaborative effort aims to reshape the industry by adopting and integrating Open Finance principles, fostering innovation, enhancing financial inclusion, and supporting sector growth. Join us on Wednesday, 6th Nov 2024 from 3.00PM EAT as we dive into the potential of open finance to transform Kenya's financial ecosystem. Thought leaders will share key insights on aligning Kenya’s financial sector with global trends, paving the way for a more inclusive, data-driven financial environment. Register here: https://lnkd.in/dPYnCGDt #OpenFinance #FinancialInclusion #FintechKenya #Innovation #InclusiveFinance

 Exciting Collaboration Alert! 🌟 We teamed up with Kenya Bankers Association for the 2024 National Debate Championship, sparking an engaging and impactful debate on financial literacy! 💸 In this spirited face-off, Kapsabet Boys High School and Friends School Tigoi tackled crucial topics, showcasing the power of financial knowledge for today’s youth. This debate highlighted the importance of equipping young minds with essential financial skills for their futures. Here’s a sneak peek! #FinancialLiteracy #YouthEmpowerment #NationalDebateChampionship #FutureLeaders #KBA

We extend our congratulations to H.E Prof. Kindiki Kithure on his appointment as the 3rd Deputy President of the Republic of Kenya.

We wish everyone a joyful #Diwali filled with love and hope. May this season bring light to your heart and home, and lead to a prosperous year ahead!

''In 2023 alone, the banking sector contributed KES 190 billion to government in revenue, double what we contributed in 2018. From 2018 to 2023, the banking sector contributed a total tax of KES 825.16 billion. The sector’s total tax contribution reached a record KES 190.26 billion IN 2023, representing 8.78% of all government taxes collected. What these numbers tell me is that for every KES 100 generated by the sector, KES 57.2 goes to the government in taxes, KES 27.8 to employees, and KES 15 to shareholders. Also in 2023, the industry contributed KES 73.05 billion in corporate taxes, making up 28.59% of all corporate taxes paid in Kenya. Additionally, the industry paid KES 28.93 billion in PAYE and KES 23.81 billion in excise duty, representing 59.45% of excise duty collected from the financial services sector'' - John Gachora, Kenya Bankers Association Chairman #InuaBiashara

In 2012, Mrs. Nasim Devji became Kenya Bankers Association's first female Vice Chairperson, marking a milestone for gender diversity and empowerment in Kenya’s banking sector. #HistoryofBankingKE

How Can Your Bank Serve You Better? We're taking your feedback here: https://shorturl.at/7am83 #KBACXSurvey #KBACXSurvey

Banks Commit Sh. 150 billion Annually to Support MSMEs Financing Over the Next Three Years... Read More: https://lnkd.in/d4PXMcqu #InuaBiashara