The Kenya Revenue Authority (KRA) announced a 4.5% growth in revenue collection, totaling KES 1.243 trillion for the financial year ending December 31, 2024. This marks a significant increase compared to KES 1.189 trillion collected in the previous year.
Exchequer revenue contributed KES 1.120 trillion, while agency revenue—collected on behalf of other government entities—amounted to KES 122.87 billion, surpassing its target by 21.3%. The strong performance comes amid a challenging economic environment marked by slower GDP growth and reduced domestic demand.
“In spite of the progressive growth, the collection was affected by various economic indicators that directly drive revenue collection,” the KRA stated. Kenya’s GDP growth slowed to 4.0% in Q3 2024, compared to 6.1% in Q3 2023. Additionally, domestic demand weakened, as reflected in the Purchasing Managers Index, which averaged 49.2 points in July–December 2024, signaling a contraction in economic activity.
Customs revenue reached KES 429.13 billion, a 4.8% increase over the KES 409.55 billion collected during the same period last year. Domestic taxes accounted for KES 811.85 billion in H2 2024, reflecting a 4.4% increase from KES 777.62 billion in the corresponding period of 2023.
The KRA has set an ambitious target of KES 2.684 trillion for the financial year 2024/2025. “KRA is confident that it will continue with the upward trajectory and achieve the set target to enable the government sustain the country’s economy,” the agency stated.
