Other

CEO of Kenya’s biggest firm declares wealth to boost anti-graft fight

09 Dec 2015 - {{hitsCtrl.values.hits}}

REUTERS: The head of Kenya’s largest publicly-traded company has declared personal wealth of US $2.7 million, saying he wants to increase transparency in the public and private sectors as part of efforts to fight graft in the East African nation.
Public pressure has mounted on President Uhuru Kenyatta to deal with corruption after a spate of media reports about inflated government contracts and outright theft of funds by officials in other cases.
Bob Collymore, the chief executive of telecoms operator Safaricom, posted a signed document showing he has net assets worth 276.76 million shillings (US $2.72 million) in cash, property and stocks, acquired over a career spanning more than three decades. “It is my belief that all of Kenya’s leaders and CEOs should declare their assets in order to embed transparency within their organisations,” Collymore, a British citizen, told Reuters yesterday.
Collymore, in charge of Safaricom since 2010, was part of a recent initiative by the private sector that drew up a proposed anti-bribery bill, prescribing severe penalties for bribe givers and receivers within the business community.
“The Bill will make it an offence for corporations to act in an unethical manner and seeks to strongly embed responsibility within the corporate ecosystem,” he said.
Safaricom, which is 40 percent owned by Britain’s Vodafone , is the largest firm on the Nairobi bourse by market capitalisation.

Other

CEO of Kenya’s biggest firm declares wealth to boost anti-graft fight

Most Popular Articles

Shipping majors circle Sri Lankan ports amid regional expansion race

ADB sees slower growth, higher inflation for Sri Lanka through 2027

Sri Lanka’s IMF reserve target comes under pressure: KPMG

Sri Lanka explores local gold refinery as IMF regulations delay import tax relief for jewellers

CSE ends lower as turnover falls to year’s lowest, ASPI holds key support

HMD introduces latest range of feature phones to Sri Lanka

Latest News

Two youths killed in motorcycle accident in Horana

US says two military personnel killed by Iranian attack in Jordan

Iran’s Supreme Leader says US breaches show Trump’s signature is ’worthless’

US issues worldwide travel caution amid rising West Asia tensions, warns Americans of potential security threats

Saka hat-trick powers England to 6-4 win over France in World Cup thriller