KRA & NBK Sign Deal to Empower AGPO Registered Suppliers
The Kenya Revenue Authority (KRA) and the National Bank of Kenya (NBK) have today signed a memorandum of understanding which will benefit KRA suppliers under the Access to Government Procurement Opportunities (AGPO) program.
The AGPO program ensures that the youth, persons with disability, and women get involved in government procurement. As a result, these people become empowered.
More than 903 suppliers, including the youth, women, and persons with disability, will undergo training and sensitisation from KRA on public procurement regulations, best practices, and tax laws. In addition, NBK will offer the suppliers capacity building programs on entrepreneurship and a financing facility to help qualified suppliers to service tenders received from KRA.
Speaking during the MoU signing ceremony at Times Tower Nairobi, Mr Musau said: “This partnership is testament that the Bank is living up to its foundation objective of offering access to financial services to all Kenyans. We are committed to continue impacting generations to enable progress as the Bank celebrates 50 years since our foundation in 1968.”
The partnership will enable special groups to access capital thereby increasing the number of people under this group that can successfully apply and win government tenders.
In the 2017/2018 financial year, KRA allocated more than Sh325 million which is 30 percent of the eligible contracts to AGPO registered suppliers. Presently, KRA has given tenders to disadvantaged groups worth Sh330 million, surpassing the targeted amount by 0.5 percent.
KRA and NBK have also worked together on tax remittance via selected revenue collection platforms.