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HomeceosKPMG: Global Company That Has Produced Multiple Reclusive Kenyan Billionaires

KPMG: Global Company That Has Produced Multiple Reclusive Kenyan Billionaires

Kenya boasts a number of high-net-worth individuals (HNWIs) with gross annual incomes of between Kh350 million and Ksh1 billion. These individuals are leaders of industry, chief executive officers (CEOs) of various blue-chip companies, business owners, and industrialists, among others.

A spot-check by WoK on previous tax remittance reports by the Kenya Revenue Authority (KRA) revealed a number of reclusive Kenyan billionaires some of whom work or used to work at KPMG East Africa.

KPMG EA is an audit, advisory, tax & regulatory services provider with offices in Kenya, Rwanda, Tanzania, and Uganda.

The company’s audit practice helps organizations and individuals achieve their objectives and succeed in the economy by measuring performance, managing risks, and leveraging knowledge.

“KPMG Advisory professionals work with you to cut through the complexity of today’s rapidly changing marketplace. We leverage the knowledge and skills across our global network of firms to develop practical recommendations designed to help you work smarter, grow faster and compete stronger.

“We approach the African market with an understanding of a client’s business, its needs and strategic requirements. We use our in-depth technical tax knowledge and our broader understanding of how tax fits into the wider business picture to help clients meet their compliance opportunities and action planning opportunities,” the company states on its website.

Here is a list of HNIs who are associated with KPMG.

Jacob Gathecha

Jacob is a partner at KPMG. He is a qualified accountant and a Member of the Institute of Certified Public Accountants of Kenya (ICPAK).

He holds a Bachelor of Commerce degree from the University of Nairobi. He has over thirteen years post qualification audit and advisory experience, all gained at KPMG.

Gathecha has considerable experience working with multinational and local clients in the region while providing audit, accounting and other advisory services. He is the head of Consumer and Industrial Markets in Africa.

He was admitted to partnership in 2007.

Josphat Mwaura

Josphat Mwaura is the immediate former Chief Executive Officer of KPMG East Africa. Josphat has considerable experience in leadership, strategy, business performance improvement and public sector transformation.

He is a Certified Public Accountant (CPA – K) and a member of the Institute of Certified Public Accountants of Kenya (ICPA – K). He has taken various leadership development programmes and holds a Certified in Government degree at Harvard University.

Mwaura is a former president of the Rotary Club of Nairobi North and serves as a Trustee in a number of non-profit organizations in basic education, business and accounting education, civic education and engagement.

He led the firm for 10 years leading up to his departure. During his tenure,  KPMG bagged various deals, notably pocketing 50 per cent of the total amount earned by the big 4 audit firms from government contacts in 2018, according to the official public contracting website.

The company also bagged Ksh93.5 million in professional fees from state departments such as the National Treasury and the Office of the Auditor-General. In the AG’s office, KPMG earned Ksh19.4 million in fees thanks to a contract for the provision of data and analytical training for the office.

At the National Treasury,  KPMG earned Ksh69.7 million in professional fees for the provision of consultancy services for technical assistance to strengthen the capacity of internal audit functions in public entities with a focus on county governments. The contract ran from August 2018 to July 2019.

The company pocketed a further Ksh4.4 million in professional fees after it won an institutional risk assessment contract for the Kenya Water Towers Agency.

Phillip Muema

Philip Muema is a Partner at Andersen in Kenya. He boasts over 15 years of experience in tax advisory, commercial strategy and structuring, from advising businesses and investors on power purchase agreements and production sharing agreements to setting up operations across East Africa for tax efficient and commercially viable resource exploitation.

Prior to founding Andersen in Kenya (formerly Nexus), Muema was the Head of Tax and Partner at KPMG East Africa with an oversight mandate of KPMG’s tax offering across 13 countries in the East Africa region.

While at KPMG, Philip was also the project director behind the successful Kenya Top 100 survey which he also rolled out in Tanzania, Uganda and Rwanda.

He has particular expertise in supporting clients across a wide range of sectors including: energy and natural resources, ICT, agriculture and agro-processing, real estate, construction, business process outsourcing, financial services and public sector.

Brian D’Souza

Brian is the leader of Risk Consulting and the Consumer and Industrial Markets Line of Business.

He is also the leader of our Information Technology Advisory (ITA) department and is a specialist in IT installation reviews and use of computer-aided auditing techniques, Information Security Services, Business Systems Controls, Information Systems Governance and Project Risk Management.

Brian was admitted to partnership in 1997.

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