@BusinessDaily

EDITORIAL: Surcharge CA directors

1 weeks ago, 19:00

By: Editorial

The revelation by the Auditor- General that the Communications Authority of Kenya (CA) irregularly paid Sh2.1 million in Christmas shopping to its directors and members of the Universal Service Advisory Council is alarming.

The audit report says each director got Sh100,000 for shopping during the holiday period while council members took home vouchers worth a cool Sh900,000. That directors and senior managers of the agency found it fitting to pay themselves without following the rules and regulations speaks to a big corporate governance challenge at the very top of the agency.

The audit has also raised the red flag on irregular disposal of MacBook laptops and iPads to directors, contrary to the Public Procurement and Asset Disposal Act, 2015. As oversight officers, directors should be custodians of rules and processes by which the CA operates.

This demands that any breach by its directors must be promptly dealt with. The Constitution is clear on punishment due, which includes paying back to the Exchequer the amount in losses caused.

Following through on such punishment will help serve as a deterrent and remind top government officers that public organisations are an opportunity to use one’s talents to serve, not gold mines to be looted at every opportunity.


Read More


Category: business news markets economy corporate opinion lifestyle

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@BusinessDaily

EDITORIAL: Surcharge CA directors

1 weeks ago, 19:00

By: Editorial

The revelation by the Auditor- General that the Communications Authority of Kenya (CA) irregularly paid Sh2.1 million in Christmas shopping to its directors and members of the Universal Service Advisory Council is alarming.

The audit report says each director got Sh100,000 for shopping during the holiday period while council members took home vouchers worth a cool Sh900,000. That directors and senior managers of the agency found it fitting to pay themselves without following the rules and regulations speaks to a big corporate governance challenge at the very top of the agency.

The audit has also raised the red flag on irregular disposal of MacBook laptops and iPads to directors, contrary to the Public Procurement and Asset Disposal Act, 2015. As oversight officers, directors should be custodians of rules and processes by which the CA operates.

This demands that any breach by its directors must be promptly dealt with. The Constitution is clear on punishment due, which includes paying back to the Exchequer the amount in losses caused.

Following through on such punishment will help serve as a deterrent and remind top government officers that public organisations are an opportunity to use one’s talents to serve, not gold mines to be looted at every opportunity.


Read More

Category: business news markets economy corporate opinion lifestyle

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@StandardMedia - By: Fredrick Obura
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Demolition of houses kicked off on Monday in Nairobi’s Kibera Slums paving way for the construction of Sh2 billion link road ...

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