The push by Kenya Power to reveal the beneficial owners of all suppliers paid more than Sh1 million per month or Sh12 million per annum will go a long way in fighting graft at the utility firm.
Kenya Power has served as the symbol of gross mismanagement among State-owned firms in the country.
The unprecedented move, which shareholders will be asked to approve at the company’s upcoming annual general meeting on December 3, is designed to expose insider dealings and other forms of conflict of interest.
It could also expose external parties who have been caught in fraudulent transactions with other companies or Kenya Power in the past.
However, this should apply to all State agencies, which have similarly become a hotbed of graft and mismanagement.
State firms need to be transparent in their dealings to smoke out individuals who line their pockets with public funds.
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Most of the agencies are struggling to meet their financial obligations because of failure to instill good governance.
Corruption in State corporations brings unnecessary burdens and inconveniences to taxpayers.
https://www.businessdailyafrica.com/bd/opinion-analysis/editorials/widen-state-agency-graft-war-3616768
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