NAIROBI, Kenya- In a major step toward promoting ethical business practices, the Blue Company Project has announced the onboarding of 16 new companies, pushing its total membership to an impressive 500.
This private sector-led initiative aims to foster transparency and accountability within the business community, further solidifying its mission to combat corruption and unethical practices.
The addition of new members marks a significant milestone in the project’s journey, as it continues to build a network of businesses committed to operating with integrity.
The Blue Company Project is laser-focused on ingraining integrity at the core of business operations.
Dr. Julius Kipngetich, a member of the Blue Company Project Advisory Board, underscored the importance of this ethos, saying, “We are thrilled to welcome new members into the initiative. Their membership is a powerful affirmation that ethical business is essential for sustainable success.”
Dr. Kipngetich highlighted that the initiative is not just about lip service. It’s about embedding transparency and accountability in everyday business practices to ensure that companies remain on the right side of ethics.
By fostering this culture, the project is striving to make ethical business the norm, not the exception.
Corruption remains one of the most significant challenges in Kenya’s business landscape. The Ethics and Anti-Corruption Commission (EACC) estimates that the country loses Ksh 608 billion annually to corruption, which is roughly a third of the national budget.
This staggering figure highlights the urgency of initiatives like the Blue Company Project.
Corruption not only erodes investor trust but also inhibits economic growth. Local and international investors are more likely to flock to markets where their capital is protected by stable and transparent business practices.
This is exactly where the Blue Company Project aims to make an impact—by creating a safer, more transparent investment environment.
One key aspect of the Blue Company Project is that joining the initiative is entirely voluntary. According to Nizar Juma, the project’s founder, this makes membership all the more meaningful.
“Membership in our initiative is entirely voluntary, which means that companies choosing to join are genuinely dedicated to honesty and truth,” Juma explained.
Businesses that join the initiative must demonstrate a commitment to ethical practices, ensuring that their staff uphold integrity in their roles.
They are also required to establish systems for capacity building and disciplinary procedures, allowing them to address any violations swiftly and transparently.
As more businesses commit to upholding ethical standards, the hope is that integrity and transparency will become foundational pillars of the country’s economy, encouraging growth and investment in a corruption-free environment.
