British American Tobacco (BAT) Kenya has dismissed allegations of financial discrepancies highlighted in a report by The Investigative Desk titled Missing Millions: A Cross Examination of British American Tobacco Kenya’s Tax Bill.
BAT Kenya Managing Director Crispin Achola refuted the claims, stating that a thorough internal review found the report riddled with “numerous errors and misrepresentations” regarding the company’s financial disclosures and tax obligations.
“As a publicly listed company on the Nairobi Securities Exchange, BAT Kenya adheres to local regulations and international reporting standards in its Annual Reports and audited Financial Statements,” Achola asserted.
He emphasized that BAT Kenya’s financial records, including those for 2017 and 2018—years cited in the report—have been audited by external auditors and regulators.
Achola criticized the methodology used by The Investigative Desk, arguing that it relied on “erroneous assumptions” about the company’s revenues, profits, and tax liabilities. He pointed out that the report’s figures were distorted by incorrect pricing models, a failure to account for trade margins, and misrepresented deductible costs.
The company also revealed that in June 2024, The Investigative Desk had sought its input but failed to disclose the methodology behind its analysis. BAT Kenya said it had warned that the calculations would likely be inaccurate but was not given an opportunity to clarify key financial details.
“It is disappointing that The Investigative Desk ignored factual evidence in favor of sensational and misleading reporting,” Achola stated, adding that the company is reviewing its next steps regarding the report’s impact.
Reaffirming its commitment to ethical business practices, BAT Kenya maintained that it operates in full compliance with legal, regulatory, and corporate governance standards.
Related Content: Rita Kaveche Appointed As Chair Of BAT Kenya Board
