In a recent conference organized by the Global Compact Network Kenya (GCNK), the private sector in Kenya was singled out as a significant enabler of corruption, resulting in an annual loss of over KSh 600 billion. The conference emphasized the urgent need for businesses to prioritize ethical conduct and uphold integrity in order to combat corruption. Judy Njino, the Executive Director of GCNK, called for collaboration between the private sector, public sector, and civil society to address this issue. The conference also highlighted the universal nature of corruption, impacting businesses of all sizes worldwide. Cristina Ritter, the head of anti-corruption and governance at the United Nations Global Compact, emphasized the substantial financial losses caused by corruption, particularly in the supply chain. John Lolkoloi, the Director of Ethics & Leadership at the Ethics and Anti-Corruption Commission (EACC), stressed the importance of collaboration and urged stakeholders to develop anti-corruption legislation and codes of conduct. The conference underscored the critical role of the private sector in combating corruption and ensuring sustainable economic growth and a fair business environment [6156607a].
President Ruto's plans to privatize state-owned companies in Kenya have faced criticism due to concerns about corruption and financial gain for certain individuals. The recent conference's findings further highlight the issue of corruption in the private sector and the need for immediate action. The private sector's involvement in corruption has resulted in significant financial losses for the country, impacting the overall economy. The conference emphasized the importance of ethical conduct and integrity in businesses of all sizes, urging collaboration between different sectors to combat corruption effectively. It remains to be seen how the private sector in Kenya will respond to these calls for action and contribute to a fair and transparent business environment [3f269c7b], [6156607a].
Kenya Power and Lighting Company (KPLC) has faced financial challenges, but the government has taken several measures to improve its profitability. The National Treasury revealed that KPLC's liquidity position is improving due to the ongoing implementation of the government's action plan. The policy changes at KPLC include establishing a new governance structure to give private shareholders fair representation, implementing changes in the tariff to reduce the liquidity gap, transferring transmission assets to Kenya Electricity Transmission Company (KETRACO), settling the outstanding Rural Electrification Scheme (RES) operations and maintenance cost deficit, and reducing losses resulting from system, commercial, and technical operations. The government aims to cut system losses from 22.4% to 14.4% by the end of June 2025. These measures are expected to help KPLC regain profitability [3f269c7b].
The return of 21 illegally privatized social facilities in the Kyrgyz Republic highlights the ongoing issue of illegal privatization and corruption. The government's efforts to reclaim these facilities demonstrate a commitment to addressing the issue and ensuring that public resources are used for the benefit of the people. It remains to be seen how the government will prevent future illegal privatization and promote transparency in the management of public assets [3f269c7b].
In Zimbabwe, public tenders have become a breeding ground for corruption. An article by Paidamoyo Muzulu in NewsDay Zimbabwe highlights the murky and corrupt nature of public tenders in the country. The article reveals that tenders are often awarded without public bidding, and politically connected individuals with advance knowledge of government plans or projects frequently win these tenders. The author suggests that the government creates emergencies or crises to justify cutting corners in procurement. The lack of scrutiny and accountability in public finances is also criticized, with billions of dollars being embezzled by government ministries and agencies. The article calls for an end to these man-made crises and emphasizes the need for transparency and fair competition in public tenders [a67e0398].
The issue of corruption in public tenders is not unique to Zimbabwe. It is a growing concern in many countries, including Kenya. The recent conference in Kenya highlighted the universal nature of corruption, impacting businesses worldwide. The private sector's involvement in corruption has significant financial implications, resulting in substantial losses for the economy. The conference emphasized the importance of collaboration between different sectors to combat corruption effectively. It is crucial for governments and stakeholders to address this issue and promote transparency and fair competition in public tenders to ensure sustainable economic growth and a fair business environment [6156607a], [a67e0398].