NSE Joins the UN Global Compact

By Soko Directory Team / May 30, 2016



bonds-and-shares-nse

The Nairobi Stock Exchange has become the 145th company to sign onto the private sector Code of Ethics as it announced its admission to the UN Global Compact after it signed the “Code of Ethics for Business in Kenya” on Monday.

In an effort to promote corporate sustainability practices in NSE and the capital markets at large, the NSE has committed to embrace, support and enact a set of core values in the areas of human rights, labour standards, the environment and anti-corruption by joining the world’s largest corporate sustainability initiative, the UN Global Compact.

Speaking during the event, NSE Chief Executive, Mr. Geoffrey Odundo said “Corruption undermines governance, democracy and the rule of law while destroying investor confidence. It raises the costs of doing business, drives investors and employers away thus impacting economic growth. The Exchange commits to cultivate a culture of governance and transparency amongst our listed companies while safeguarding the interests of our investors.”

nse un global compact
Geoffrey Odundo, NSE CEO signs the Code of Ethics for Business in Kenya.

The “Code of Ethics” was developed on behalf of the private sector by Kenya Private Sector Alliance (KEPSA), Global Compact Network Kenya, and the Kenya Association of Manufacturers (KAM), and has been endorsed by H.E. President Uhuru Kenyatta as a key intervention towards addressing corruption and unethical practices within the government and private sector.

Speaking during the event, NSE Chairman Mr. Eddy Njoroge said “Corporate governance in Kenya has encountered a number of issues in recent times. Corroboration of investor protection and enhancing public trust is vital to our Capital Markets. Investing in sustainability can help create more stable and prosperous economic systems.”

Global Compact Network Kenya Representative and KAM Chief Executive Officer Ms. Phyllis Wakiaga remarked, “Kenya is losing Kshs. 608 million to corruption annually. Corruption impedes business growth, escalates costs and poses serious legal and reputational risks. The business environment today demands greater corporate accountability and transparency. We commend NSE for taking this step and committing to lead a culture change among its listed companies. It is indeed through joining hands as the business community in Kenya that we can create long-term value for our businesses and society at large.



About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

View other posts by Soko Directory Team


More Articles From This Author








Other Related Articles










SOKO DIRECTORY & FINANCIAL GUIDE

ARCHIVES

2019
  • January 2019 (256)
  • February 2019 (216)
  • March 2019 (285)
  • April 2019 (254)
  • May 2019 (272)
  • June 2019 (252)
  • July 2019 (233)
  • 2018
  • January 2018 (291)
  • February 2018 (219)
  • March 2018 (278)
  • April 2018 (225)
  • May 2018 (238)
  • June 2018 (178)
  • July 2018 (257)
  • August 2018 (249)
  • September 2018 (256)
  • October 2018 (287)
  • November 2018 (284)
  • December 2018 (187)
  • 2017
  • January 2017 (183)
  • February 2017 (195)
  • March 2017 (207)
  • April 2017 (104)
  • May 2017 (169)
  • June 2017 (205)
  • July 2017 (190)
  • August 2017 (195)
  • September 2017 (186)
  • October 2017 (235)
  • November 2017 (253)
  • December 2017 (266)
  • 2016
  • January 2016 (165)
  • February 2016 (165)
  • March 2016 (190)
  • April 2016 (143)
  • May 2016 (246)
  • June 2016 (183)
  • July 2016 (271)
  • August 2016 (249)
  • September 2016 (234)
  • October 2016 (191)
  • November 2016 (243)
  • December 2016 (153)
  • 2015
  • January 2015 (1)
  • February 2015 (4)
  • March 2015 (166)
  • April 2015 (109)
  • May 2015 (117)
  • June 2015 (121)
  • July 2015 (150)
  • August 2015 (157)
  • September 2015 (189)
  • October 2015 (170)
  • November 2015 (174)
  • December 2015 (208)
  • 2014
  • March 2014 (2)
  • 2013
  • March 2013 (10)
  • June 2013 (1)
  • 2012
  • March 2012 (7)
  • April 2012 (15)
  • May 2012 (1)
  • July 2012 (1)
  • August 2012 (4)
  • October 2012 (2)
  • November 2012 (2)
  • December 2012 (1)
  • 2011
    2010
    2009
    2008
    2007
    2006
    2005
    2004
    2003
    2002
    2001
    2000
    1999
    1998
    1997
    1996
    1995
    1994
    1993
    1992
    1991
    1990
    1989
    1988
    1987
    1986
    1985
    1984
    1983
    1982
    1981
    1980
    1979
    1978
    1977
    1976
    1975
    1974
    1973
    1972
    1971
    1970
    1969
    1968
    1967
    1966
    1965
    1964
    1963
    1962
    1961
    1960
    1959
    1958
    1957
    1956
    1955
    1954
    1953
    1952
    1951
    1950