FCPA John Lolkoloi: We must ensure pursuit of profits is done ethically
24:05:2024: Business environment is highly competitive and some organisations end up engaging in unethical conduct including manipulating accounts, bribing regulatory and oversight agencies and tax evasion the consequence of which is corruption, EACC Director for Ethics and Leadership, FCPA John Lolkoloi has said.
He was giving a key note address today on the Importance of Public and Private Sector Collaboration in Fostering a Clean Business Environment at the UN Global Compact Business Integrity Conference at Villa Rosa Kempiski, Nairobi.
Dubbed Business Integrity Conference under the theme, Integrity and Collective Action: Foundations of a clean business environment, the Conference aimed at advancing a culture of integrity and promoting collective action among anti-corruption actors in Kenya. It brought together C-Suite Executives from the private sector and the business community in Kenya.
To inculcate clean business practices, Director Lolkoloi said, we must come up with strategies to reign in ambitions of business to safe limits and ensure pursuit of profit is conducted having regards to business ethics, safety of customers, concern for society, and protection of the environment
He urged development, implementation, and enforcement of codes of ethics for business, support for official oversight and anti-corruption agencies, and joint development of legislation, as some of what the public and private sectors can jointly do to eliminate corruption and unethical business practices.
Speaking at the Conference, Ms. Cristina Ritter, Head of Anti-Corruption and Governance, UN Global Compact said that there has been alarming rise of scandals and unethical practices in recent times, underlining the urgency for businesses to prioritize integrity as a key pillar in their business operations.
The UN Convention against Corruption (UNCAC), adopted by the UN General Assembly in October 2003 aims, she said, to answer the question of how corruption can be tackled effectively in all its forms.
“I am glad to note that several African countries including Kenya, have ratified the UNCAC, which demonstrates a clear commitment to the fight against corruption,” she said.
The conference was convened by Global Compact Network Kenya, a country network of UN Global Compact which is a corporate sustainability initiative.
UN Global Compact is committed to spearheading and catalyzing actions aimed at promoting good business practices by building capacity and awareness of ethics and integrity as per the 10 principles of human rights, labour, environment and anti-corruption.
