NBK partners with KRA to support suppliers’ access to tenders

NAIROBI, KENYA: National Bank of Kenya (NBK) has struck a deal with Kenya Revenue Authority (KRA) that will see suppliers registered under the Access to Government Procurement Opportunities (AGPO) programme access funding easily.

Following the agreement that was signed on Wednesday in Nairobi, the suppliers will also receive sensitisations and trainings from KRA on public procurement regulations and best practices as well as tax laws.

On the other hand, NBK will support the suppliers with capacity building programmes on entrepreneurship.

According to NBK Managing Director Wilfred Musau, this will target over 903 suppliers registered by KRA among them youth, women and persons with disability.

“We want to tap into the expertise of each other and bridge the gaps that exist along the chain starting from LPO financing to payment,” he said.

NBK has established a financing facility focusing on qualifying suppliers to KRA. The Bank will finance the qualified suppliers to service tenders obtained from KRA offices across the country.

It is expected that the partnership will ease the capital challenges among the targeted special groups and make them to competitively apply for and win government tenders.

Speaking during the signing ceremony, KRA Senior Deputy Commissioner Ezekiel Saina said that the partnership will establish a framework of collaboration and enhance value addition for the suppliers.

The aim of the AGPO Program is to facilitate businesses owned by the youth, women and persons with disability to be able to participate in government procurement. This is in line with government’s initiative to have at least a third of tenders for such enterprises.

Currently, KRA has awarded tenders to the disadvantaged groups, totalling an estimated Sh330 million, exceeding the organization’s target by 0.5 per cent.

NBK is one of the banks that KRA has partnered with over the years on tax remittances through designated revenue collection platforms.