The Global Compact Network Kenya (GCNK) says it is targeting to work with other networks in the region to advance ethical business practices within private sector following the creation of Africa free trade framework.
Speaking during Business Integrity Conference organized GCNK which is the largest network of the UN Global Compact, Executive Director Judy Njino said corruption remains one of the greatest obstacles to economic and social development.
“In recent times, we have witnessed the alarming rise of scandals and unethical practices, underlining the urgency for businesses to prioritize ethical conduct as a key pillar in their business operations,” she said.
Private sector has being singled out as one of the key enablers of corruption and has been challenged to work with the public and the civil society sectors to eliminate the vice in the country.
Ethics and Anti-Corruption Commission Director of Ethics and Leadership at John Lolkoloi highlighted the importance of collaboration and urged sector players to work together and craft anti-corruption legislation and codes of conduct in business to streamline business ethics.
“This calls for a strategic partnership between the public and private sector to collectively address unethical business practices for the benefit of all,” he said
The African Continental Free Trade Area (AfCFTA) is projected to help boost African economy by additional $450 billion.
United Nations Global Compact Head of Anti-Corruption and Governance Cristina Ritter noted that there is an urgent need to tackle the vice and ensure a clean business environment and the private sector must take part in it.
She noted that a lot of money is lost through corruption, especially in the supply chain.
“With $4.6 billion lost annually to corruption, the call to action is clear, companies must uphold integrity, promote responsible practices, and support sustainable development. Let’s champion these principles and work towards a corruption-free future by 2030,” she added.
The conference sought to identify strategies to combat corruption and ensure a clean business environment in the continent.
