Building corporate integrity culture – Business Daily

Corruption is a constant topic of discourse among Kenyans. Although much of the focus has been on the public sector, the private sector is also a major propagator of corruption.

Bribery, kickbacks, tax evasion, money laundering and fraud are the most common forms of corruption among private companies. A recent report by the Kenya Revenue Authority (KRA) indicated that 90 percent of firms did not pay corporate tax for the period ended June 2022.

Corrupt systems will collapse when the private sector stops giving bribes and enabling other unethiCal practices.

Corruption not only stifles economic growth but also worsens inequality and injustice. Companies that offer bribes gain an unfair advantage over their competitors. Corruption also increases the cost of doing business while compromising the quality of goods or services.

On the corporate level, The Blue Company Project has observed the impact of strengthening personal resolve to shun corrupt practices.

This includes an individual’s commitment to observe moral and social values that drive transparency, accountability, and honesty. Our member companies engage each of their employees to pledge adherence to anti-corruption practices, with non-adherence is treated as gross misconduct.

The absence of consequence-based systems for individuals who violate ethical practices has been a corruption driver. Developing and implementing accountability processes ensures that appropriate disciplinary actions are taken against corrupt individuals.

For instance, Blue Company members who violate the anti-corruption policies face disciplinary action resulting to job dismissal.

Building a culture of integrity is crucial in reducing corruption. This will ensure people detest dishonesty in action, not just by mere words. We believe collaborations between ethical private sector companies will show other companies the value of conducting good business.

Blue Company members, which include blue-chip firms, are actively advocating ethical practice and showing it is possible to be successful and corruption-free.

The implementation of Group Purchasing is enabling Blue companies to give special rates and business preference to each other on buying and using services. This network of like-minded companies is giving confidence that running an ethical business is both fashionable and profitable.