The British Chamber of Commerce Kenya (BCCK) yesterday released its inaugural Integrity Index which is part of its Business Integrity Initiative (BII) pilot programme.
It features a selection of companies based in Kenya, that have a track record in working with integrity with organizations in Kenya and British Chamber of Commerce Kenya (BCCK) members.
All the companies in the Index have rules-based policies in place, which cover integrity which cover a range of ethical issues including bribery, embezzlement, corruption and money-laundering.
4G Capital, a financial services and business tools provider to micro enterprises, has extended these policies beyond just its staff and the Kenyan legislation.
“We have comprehensive policies which cover our staff, our clients, our investors and our shareholders in all jurisdictions and include extra-territorial legislation in the US and UK,” said Chief Risk Officer 4G Capital Steve Clarke.
The majority of companies in the Index also maintain a risk register
"Business unit heads are responsible for assessing their operations for risks and scoring them to identify their likelihood of occurring," the index noted.
KEPSA lists fraud, bribery and tax evasion as the most likely integrity risks for its member
The 28 companies listed in the Index either participated in the BII pilot programme or completed the nomination and self-assessment process.
They are drawn from across 10 different sectors and vary in size from three to 3,000 employees. Companies were assessed on their regulatory compliance, track record of working with international buyers and their documented policies and procedures.
"As Kenya and the world continue to grapple with Coronavirus, we feel it is important to recognise companies that are committed to doing the right thing," said Farida Abbas, CEO, BCCK.
She also noted that there are many thousands more companies operating with integrity in Kenya and hopes they will welcome a positive integrity campaign and practical examples of the measures being implemented by their peers.
For UK companies entering Kenya, conducting due diligence on potential partners is cited as one of the toughest nuts to crack and the BII provides a range of tools to support this process.
The report highlights the importance of companies applying risk assessment and due diligence processes on customers, suppliers and partners.
“We recognize efforts that these companies are making to run ethical and trusted businesses and hope that this Index will provide long term benefits to all the featured companies.” said Farida Abbas, CEO, BCCK.
