Competition to win business in the country has led to increased cases of corruption in organizations making graft one of the major challenges facing their credibility.
This was revealed by the latest Global Fraud Survey, which stated that 76% of those polled in the country conceded that corruption had increased in organizations due to competition for business deals.
Speaking at the launch of the Fraud, Investigations Services by Ernest and Young in Nairobi, Head of East Africa Fraud Investigations and Dispute Services Peter Kahi noted that organizations embraced corrupt dealings in a bid to paint their firms as successful.
Kahi revealed that 2% of respondents in the country also said they were willing to offer cash bribes to win business in Kenya compared to 8% globally with most organizations using personal gifts to win businesses.
He added that 26% of Kenyans interviewed indicated their willingness be whistle-blowers on graft to get the eventual reward.
On the other hand, Ernest and Young Chief Executive Officer Gitahi Gachahi noted that Kenya grew tremendously as an investment destination by 27% between 2010 and 2011.
Gachahi however cited corruption as a major impediment to Africa’s growth as an investment destination and urged business professionals to play a greater role in tackling it.
AUTHOR: WEMA SYLVIA
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