Kenyatta Family’s Business in Trouble Over Ksh350M Tax

Photo; Activist Okiya Omtatah /courtesy

Activist Okiya Omtatah, on Friday, moved to court to challenge to the exemption of the merged CBA and NIC banks from paying share transfer tax running into hundreds of millions of shillings.

CBA bank is a family business empire linked to Kenyatta family, while NIC bank belongs to Philip Ndegwa, the first African and longest-serving Governor of Central Bank of Kenya (CBK).


In the petition filed by Omtatah, it indicates that the Treasury violated and contravened the law by exempting the banks from paying stamp duty which amounts up to Ksh350 Million.

He is, therefore, seeking a court order to compel the merged banks to pay the tax.

Kenyatta’s family has the giant share in the swap deal which is 53 percent of the merged entity. Ndegwa’s family will take the remaining 43 percent.

Omtatah’s latest intervention comes as KRA is being accused of setting double standards in the fight against tax evasion and compliance. The taxman has been accused of witch-hunting local investors; Keroche bosses and businessman Humphrey Kariuki.

Keroche Breweries Limited is facing tax evasion charges amounting to Ksh14.4 Billion. The company bosses; Tabitha Karanja and Joseph Karanja were Thursday arrested in connection with the charges.

However, they were released on a cash bail of Ksh10 million and Ksh2 million respectively.

On the other side, Billionaire Kariuki, who is facing Ksh41 million tax evasion charges, has accused the government of fabricating charges to malign him.

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