A majority of high net worth individuals in Kenya prefer a life away from the public glare. However, despite their reclusiveness, their billions make the better noise, introducing them to the general public in one way or another.
Over the years, the Kenya Revenue Authority (KRA) continues to publish reports of High Net Worth Individuals (HNIs) who rake in between Ksh 350 million and Ksh1 billion annually. The taxman noted that the rise in number of HNIs in the country had been occasioned by the significant growth in Kenya’s economy.
In June 2020, KRA in it’s annual tax remittance report ranked Peter Nyamondo Anchinga among the HNIs in the country, raking in a fortune annually.
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Anchinga is the Managing Partner at auditing and accounting, tax and business advisory firm, Anchinga And Associates (A&A).
He is a long-standing member of the Institute of Certified Public Accountants of Kenya (ICPAK). He holds a Bachelor of Commerce degree from the University of Nairobi and is a Certified Public Accountant (CPA-K).
According to the A&A website, Anchinga boasts over 30 years’ experience in consultancy, audit and accounting gained during his time at the ‘Big 4’ firm Ernst & Young, where he worked up to the rank of Partner. He has wide experience in external audit matters.
“He has played a key role in major assignments in the East African region, including the privatization exercise for Kenya Airways where Ernst & Young were the Reporting Accountants. He has also been a manager in charge of several audit and consultancy assignments, leading various teams in the financial, airline, hospitality and donor agency sectors,” the company website reads.
During the time he was with Ernst & Young, Anchinga co-ordinated auditing and accounting work for prominent clients in the Financial Services, Manufacturing Hospitality, NGOs, Healthcare, Telecommunications, Shipping and Transport sectors.
The reclusive tycoon also boasts extensive training experience and has conducted training programs on International Financial Reporting Standards (IFRSs), in book-keeping and in accounting both in the private and public sectors.
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Anchinga And Associates
A&A is a firm of Certified Public Accountants. The firm provides a wide range of services covering Auditing and Accounting, Tax and Business Advisory.
The firm has expertise in the following area; financial services, agriculture, real estate, security & risk management, retail, construction, ICT, hotels & restaurants, tour & travel, NGOs, fashion & apparel, and media.
The company offers; audit & assurance services, tax services, accounting services, payroll bureau services, business advisory services, and forensic & investigation services.
“In offering these services, we are committed to deliver value and excellence. We value our clients, people and the community.
“Across the corporate and public sectors, organizations are facing increasing challenges to comply with ever more complicated legislations, to increase profitability whilst controlling costs, to streamline systems and processes, to offer better service levels to customers and to keep the workforce motivated and inspired,” A&A states on its website.
“Our considerable departments of in-house expertise and our hands-on approach enables us to understand and work with our clients in dealing with the many challenges and opportunities they face every day.”
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