The Kenya Revenue Authority (KRA) has recognized Masinde Muliro University of Science and Technology’s Staff Retirement Benefits Scheme (MMUSTSRBS) as the top taxpayer in the Western Region. The award was presented by the President of Kenya-H. E Dr. William Samoei Ruto during KRA’s annual taxpayers’ awards ceremony held at State House-Nairobi on 1^st November 2024. It was received by the Vice Chancellor-Prof. Solomon Shibairo, on behalf of the Scheme, who was accompanied by the Chairperson of the MMUSTSRBS Board of Trustees- Comm. Prof. Joseph Wamocha Nasongo.

“As a University that is dedicated to fulfilling its civic duties, this recognition is indeed a reflection of this, and our commitment to contribute to both economic development and social responsibility. I would like to express my gratitude to the President and the Kenya Revenue Authority for this special honor and I assure you that we will continue to uphold our responsibilities and strive for excellence in all our endeavors,” stated Prof. Shibairo following the award presentation. He further acknowledged the critical role played by the University Council as well as the Management, saying that their prudent fiscal management practices have ensured timely and regular remittances of both member and sponsor contributions to the Scheme. The Vice Chancellor congratulated the MMUSTSRBS Board of Trustees for its effective stewardship and good management of the pension scheme, which has led to impressive returns on investment, hence higher tax returns.

In his remarks, Prof. Nasongo pointed out that the Scheme’s Board of Trustees is dedicated to ensuring compliance with regulatory frameworks as well as to promoting the sustainable growth of the pension fund. He added, “this award is a testament to the Board’s commitment to safeguarding and growing the retirement benefits scheme. We will continue to work diligently to ensure that the fund grows in a sustainable manner, benefiting all our staff members and contributing to the University’s overall goals.”

With this recognition, Masinde Muliro University of Science and Technology is without doubt an institution that manages its finances in a way that allows it to adhere to the tax laws and regulations in Kenya. The University continues to not only provide quality education and research, but also actively engage in activities that promote the socio-economic development of Western region and beyond.

Edited by Wangari Wambugu