This archive report was first published on 26 September 2019.
Published on September 26, 2019, Raila Odinga, African Union High Representative for Infrastructural Development, has called on Parliament to pass the Institute of Directors of Kenya Bill 2019 to save public companies from corruption.
The bill is currently in its third reading at the National Assembly, and Raila believes its enactment will go a long way in sanitizing the governance of public companies.
Speaking at the third Corporate Governance Conference, Raila emphasized the need for open and transparent engagement between companies and shareholders, saying that success in building corporate governance in Kenya depends on local efforts, not foreign influence.
He also noted that Kenya cannot grow and build a responsible corporate culture when citizens have to pay bribes to access essential services, urging Kenyans and the business community to work together to create a sound environment for business to thrive.
“Success in building corporate governance in Kenya does not depend on what is done in Beijing, London, Washington or Paris, rather it is what is done locally. Companies must ensure open and transparent engagement with shareholders,” Raila said.
