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Safaricom still the leader in paying taxes

22 October 2013, 22:45

Nairobi - Telecommunications giant Safaricom was named as the highest contributor to the Kenya Revenue Authority.

It is the sixth year in a row that the mobile operator has been the highest taxpayer, Capital FM reports.

The company, which was founded in 1997 as a wholly owned subsidiary of Telkom Kenya, generated $1.25 of revenue and made a net income of $300 million.

East African Breweries Limited was the second highest taxpayer for the second consecutive year. Vodafone, from the UK, bought a 40% stake in Safaricom in 2000. Robert Collymore became CEO in November 2010 after replacing Michael Joseph.

Wit their headquarters are in Nairobi, Safaricom were the first East African company to provide 3G internet technology to consumers.

Other notable companies and parastatals that were ranked in the top 10 include:  the Teachers Service Commission (TSC), British American Tobacco (BAT), Kenya Commercial Bank (KCB), Equity Bank, Barclays Bank, Standard Chartered Bank, Kenya Ports Authority and the Ministry of Health.

For more on this story, visit Capital FM.


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