CITAM Church Leads the Top 5 Richest Churches in Kenya Making Untaxed Billions
An audit report revealed that five out of hundreds of religious institutions in Kenya are among the biggest money makers in the Country. These churches are exempted from taxes under the Non-Governmental Organisations and Co-ordinations Act. Surprisingly, the “Mightiest” church with the highest number of followers is not among the richest.
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Most of the top five richest churches in Kenya have invested heavily in different sectors of the economy, such as health, education, and real estate. The investments are made possible by generous membership contributions, including tithes and offerings.
Here is the list of the top five richest churches in Kenya:
1. Christ is the Answer Ministries (CITAM)
CITAM maintained its top spot after generating an annual income of KSh 1.83 billion in 2017, a 22% improvement from KSh 1.5 billion recorded in the previous year. The church reportedly has 15 branches across the country.
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2. Nairobi Chapel
The Nairobi Chapel church raked in a total income of KSh 632.33 million in 2017, a significant jump from KSh 434.57 million reported in 2016.
3. Mavuno Church
Mavuno Church emerged third with a total annual income of KSh 291 million. The latest audit report is yet to be released.
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4. All Saints Cathedral
All Saint’s Cathedral, the largest Anglican Church in Kenya, came fourth with a total income of KSh 240.91 million in 2017, an improvement from KSh 222.95 million in 2016. The Anglican Church of Kenya (ACK) is the second largest after the Catholic Church in terms of the number of followers.
5. Nairobi Baptist Church
Nairobi Baptist Church closed the list of top five with a total annual income of KSh 163 million.
It is important to note that these religious institutions are required to file annual income returns, and the richest church in Kenya made over KSh 1.5 billion in revenue in the financial year 2017/18. These churches go head-to-head with some of the biggest companies and organizations in the country in terms of taxable income generated annually.