Laikipia Collects Highest Quarterly Revenue Ever
Laikipia has collected the highest revenue ever within three months of any financial year.
Between July and September, which form the first quarter of government's financial year, Laikipia County Revenue Board reported a total collection of Kshs. 220.9 million.
This is about Kshs. 70 million above Kshs. 150 million collected within the same period in 2020/2021 and Kshs. 80 million more than the same period of 2019/2020.
In 2018/2019, when the county recorded phenomenal growth in own source revenue, Kshs. 160.3 million was collected in the first quarter. The following year 2019/2020, the county collected Kshs. 139 million in the first quarter.
This year's sterling performance is a strong indication that the board might realize its target of Kshs 1 billion this time round.
The remarkable performance has been attributed to continuous engagement with stakeholders, ensuring robust public participation on Finance Bill, embracing of technology and growing compliance by citizens.
Citizens have an opportunity to make their input in the Finance Act 2021 during public participation fora organized by the board this week.
In 2020/2021 financial year, the Board had a total collection of Kshs. 840M in own source revenue which was 83 percent of the targeted Kshs 1 billion.
Stimulus Fund
This was a great improvement compared to the previous f/y 2019/2020 where the board realized Kshs 730 million. Despite this incredible performance, the Board missed the target due to Covid-19 pandemic which had led to the closure of many businesses livestock markets, tourism sector, natural resources revenue stream as well as loss of jobs and unemployment.
It is worth noting own source revenue for the 2020/2021 financial year was the highest realized since the advent of devolution in 2013 with Kshs 25 million more collected compared to the best year 2018-2019.
The county government has partnered with several financial institutions to initiate a Kshs 3.3 billion economic stimulus fund to cushion Laikipia businesses against the effects of Covid-19.
