KRA and National Bank to train suppliers on tenders

Suppliers registered under the Access to Government Procurement Opportunities programme will get access to funding, according to a new agreement.

In the agreement between National Bank of Kenya (NBK) and Kenya Revenue Authority (KRA) signed yesterday, the suppliers will also receive training from KRA on public procurement regulations and best practices as well as tax laws.

NBK will support the suppliers with capacity building programmes on entrepreneurship.

NBK Managing Director Wilfred Musau said the partnership would target 903 suppliers registered by KRA among them youth, women and people with disabilities.

“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.

The bank has set up a financing facility focusing on qualifying suppliers to KRA and will finance them to service tenders obtained from the taxman’s offices across the country.

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

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

The aim of the procurement opportunities programme is to facilitate businesses owned by youth, women and people with disabilities so that they can participate in Government procurement. This is in line with the Government’s initiative to have at least a third of tenders for such enterprises.