Kenya's largest company CEO declares his wealth
Finance News
The initiative aims to boost the country's anti-graft fight and to increase transparency in both public and private sectors
A fortune of $2.7 million. That figure sums up the personal wealth of the head of Kenya's biggest publicly-traded company. The CEO declared his wealth in an attempt to fight corruption in the Eastern African nation and encourage financial transparency of public and private institutions.
The chief executive of telecoms operator Safaricom, Bob Collymore, followed the initiative and also declared his assets worth 276.76 million Kenyan shillings ($2.72 million) in cash, property and stocks, all acquired during his 30 years long career.
"It is my belief that all of Kenya’s leaders and CEOs should declare their assets in order to embed transparency within their organizations.
"The Bill will make it an offense for corporations to act in an unethical manner and seeks to strongly embed responsibility within the corporate ecosystem”, Bob Collymore declared for Reuters.
Safaricom is the largest firm on the Nairobi stock market and it is 40 per cent owned by Britain's Vodafone.
Mr. Collymore, of British citizenship, who spent the last five years as head of Safaricom company, welcomed the recent anti-bribery bill initiative of the private sector to prescribe severe penalties for corruption cases inside of the business community, for both bribe givers and receivers.
Such initiatives of the private sector's biggest business players to declare their fortunes and promote financial transparency came after the public pressure forced Kenyan President Uhuru Kenyatta to deal with corruption cases between the country's government officials after a series of media reports on the matter.
A fortune of $2.7 million. That figure sums up the personal wealth of the head of Kenya's biggest publicly-traded company. The CEO declared his wealth in an attempt to fight corruption in the Eastern African nation and encourage financial transparency of public and private institutions.
The chief executive of telecoms operator Safaricom, Bob Collymore, followed the initiative and also declared his assets worth 276.76 million Kenyan shillings ($2.72 million) in cash, property and stocks, all acquired during his 30 years long career.
"It is my belief that all of Kenya’s leaders and CEOs should declare their assets in order to embed transparency within their organizations.
"The Bill will make it an offense for corporations to act in an unethical manner and seeks to strongly embed responsibility within the corporate ecosystem”, Bob Collymore declared for Reuters.
Safaricom is the largest firm on the Nairobi stock market and it is 40 per cent owned by Britain's Vodafone.
Mr. Collymore, of British citizenship, who spent the last five years as head of Safaricom company, welcomed the recent anti-bribery bill initiative of the private sector to prescribe severe penalties for corruption cases inside of the business community, for both bribe givers and receivers.
Such initiatives of the private sector's biggest business players to declare their fortunes and promote financial transparency came after the public pressure forced Kenyan President Uhuru Kenyatta to deal with corruption cases between the country's government officials after a series of media reports on the matter.
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