KRA collects record Sh85.2bn in customs taxes in September
Ā NAIROBI, Kenya, Oct 7 - The Kenya Revenue Authority (KRA) collected a record Sh85.2 billion in customs revenue in September, buoyed by higher Kenya breaking news | Kenya news today |..
āØ Key Highlights
The Kenya Revenue Authority (KRA) collected a record Sh85.2 billion in customs revenue in September, driven by higher petroleum and trade taxes. This marks a significant achievement for the agency, surpassing previous records and exceeding its target for the month.
- The KRAās collection of Sh85.2 billion surpassed the previous record of Sh82.6 billion and a target of Sh81.34 billion, achieving a 104.7 percent performance rate.
- The Kenya Revenue Authority (KRA) attributed this success to reforms, including the establishment of a central release operations office that minimizes human contact and improves cargo release times.
- For the 2025/26 fiscal year, the KRA aims to collect Sh2.754 trillion, leveraging technology to boost compliance and meet its ambitious revenue targets.
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CBK Cuts Lending Rate to 9.25%, Discusses IMF Funding as KRA Collects Record Sh85.2bn - October 2025
The Central Bank of Kenya (CBK) has reduced its benchmark lending rate by 25 basis points to 9.25 percent from 9.5 percent. This move, marking the eighth consecutive rate cut, aims to boost private sector lending and economic growth. In parallel, the CBK will hold further discussions with the International Monetary Fund (IMF) in Washington DC next week regarding a new funding package. This follows a two-week visit to Nairobi by an IMF delegation. These financial developments coincide with the Kenya Revenue Authority (KRA) collecting a record Sh85.2 billion in customs revenue in September. The collection, which surpassed the agency's monthly target, was driven by higher petroleum and trade taxes.
