Rising to the Challenge of Revenue Collection
Kenya Revenue Authority (KRA) Commissioner General Humphrey Wattanga is on a mission to boost tax collection in a country where compliance remains a challenge.
Before August 22, 2023, Wattanga was not a widely known figure among Kenyans. However, his appointment by former Treasury Cabinet Secretary Prof. Njuguna Ndung’u thrust him into the national spotlight. Taking over from Githii Mburu, Wattanga was tasked with spearheading revenue collection, leveraging his vast experience in finance and technology.
His career spans multiple sectors, from global telecommunications at AT&T to investment banking with Meghraj Capital Limited, where he served as Managing Director before joining KRA. His tenure at Meghraj Capital Group, an international financial advisory firm, positioned him as an expert in market analysis and transformative investment and economic strategies.
A Career Rooted in Finance & Technology
Wattanga’s expertise is deeply rooted in finance, technology, and strategic investment. After working in the United States, he moved to South Africa in 2004, founding a financial advisory firm that provided cross-border corporate finance and transaction advisory services.
Upon returning to Kenya in 2013, he played a key role in modernizing bond trading at the Nairobi Securities Exchange (NSE) by automating trading systems. His team also introduced a mobile gateway that linked the bond trading system to Kenya’s mobile money market, expanding financial participation to ordinary citizens, including small traders and vendors.
His contributions were instrumental in the launch of M-Akiba, the world’s first mobile-only government bond, allowing Kenyans to invest using mobile money. The current government is considering reviving the M-Akiba initiative as part of its efforts to grow domestic savings.
Wattanga also served for six years as a Commissioner at the Commission on Revenue Allocation (CRA), rising to Vice Chair before leaving in December 2022.
A Scholar with a Vision
Wattanga’s path to success began in 1990, when he was Kenya’s top KCSE candidate at Alliance High School, scoring straight As. His academic excellence earned him the Dr. Ouko Award and an internship at East Africa Industries (now Unilever).
He briefly studied at the University of Nairobi before heading to Harvard University, where he pursued Biochemical Sciences. He later obtained an MBA from the Wharton School, specializing in Information Systems Strategy and Economics, fueling his passion for the intersection of finance and technology.
The Task Ahead: Growing Kenya’s Tax Revenue
As KRA’s Commissioner General, Wattanga faces mounting pressure to increase revenue collection amid a growing fiscal deficit. The Ruto administration has set ambitious revenue targets for the 2024/2025 financial year, aiming to collect Ksh3 trillion, largely by expanding the tax base.
While he has overseen some successes, KRA continues to face shortfalls in meeting its targets. Wattanga is banking on technology-driven reforms to enhance compliance and streamline tax collection, a move that could redefine Kenya’s revenue landscape in the coming years.