September 20, 2017

Bob Collymore declares wealth in a bid to support war on graft

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By Derrick Kiplagat

 

Safaricom Chief Executive Officer Bob Collymore has declared his personal wealth of Sh 276.76 million, saying he wants to increase transparency in both private and public sectors as part of efforts to fight graft in Kenya.

Pressure has mounted on President Uhuru Kenyatta to deal with the corruption menace after media reports indicated the inflated government contracts and theft of funds by officials on many occasions.

Bob Collymore the CEO of Telecommunications giants Safaricom, posted a signed document showing he has net assets amounting to Sh.276.76 million in cash, property and interests, acquired over 30 years of his career.

“It is my belief that all of Kenya’s leaders and CEOs should declare their assets in order to embed transparency within their organisations,” Collymore, told Reuters on Wednesday. Collymore, in charge of Safaricom since 2010, was part of a recent initiative by the private sector that drew up a proposed anti-bribery bill, prescribing severe penalties for bribe givers and receivers within the business community.

The Safaricom CEO also takes home a total of 9 Million shillings at the end of the month as salary, ranking him as one of the most paid organization heads in the country.

The country has been at war against graft in recent weeks. Former Devolution Cabinet Secretary Ann Waiguru’s decision to stay in office even after the NYS scandal infuriated many Kenyans. With the country’s leading opposition ODM saying, the grounds on which former Lands Cabinet Secretary Charity Ngilu were much less tangible than Waiguru’s. Waiguru eventually bowed down to pressure by resigning and the President reshuffled the Cabinet a day later, with some new faces also getting the top job.

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