Bribery and corruption costs the economy about $40 billion annually, the Kenya Association of Manufacturers (KAM) has said.
Chief Executive Betty Maina said this remains a threat to any improved growth prospects for the country. Speaking during the launch of a book on Case Studies of Anti-bribery and Corruption Practices among Kenyan companies, Maina noted that companies have the power to combat the vice to register improved profitability. KAM Chairman Polycarp Igathe noted that corruption and bribery remain a threat to public trust and confidence in most institutions and companies. “In East Africa, the two are indirect impediments to growth, development and even the security of the people,” he said in the publication’s preface.
Written by Winsley Masese/Read more at Standard