The 5th Africa Business Ethics Conference (ABEC) has called for the harmonization of anti-corruption laws across Africa, advocating for unified policies to strengthen the continent's collective fight against corruption and promote a new era of ethical business practices.
Held under the theme "A Brave New Africa: Business Growth in Times of Economic Turbulence," the conference brought together leaders from the private sector, government, and civil society to tackle Africa's most pressing economic challenges while advocating for integrity and transparency.
Since its inception in 2019 in Kenya, ABEC has grown into a premier platform for private-sector advocacy on ethics and governance, with past conferences held in Nigeria, Kenya, and Botswana. ABEC 2024 marked a new chapter, emphasizing the role of ethics in navigating today’s uncertain macroeconomic landscape.
PS for the State Department of Investment, Ministry of Trade and Industry, Hon. Abubakar Hassan, in a speech delivered by Director of Trade Patricia Aruwa, said that Ethics is at the heart of sustainable investment noting that investors prioritize jurisdictions where transparency, accountability, and governance inspire confidence.
Global Compact Network Kenya Executive Director Judy Njino, in remarks delivered by Program Manager Stephen Kimenye, highlighted the detrimental effects of corruption on the continent. “Corruption is one of the most significant challenges facing our continent, hindering development, eroding trust, and distorting markets, ultimately stifling economic growth,” she said.
Judy Njino outlined the efforts of Global Compact Network Kenya on anti-corruption in line with the Tenth Principle of the UN Global Compact whereby, as the private sector convener in the Kenya Leadership Integrity Forum (KLIF) the organization is already working with the private sector and other local anti-corruption actors to create partnerships and implement initiatives aimed at reducing corruption and promoting transparency across the region.
ABEC Founder and Convener, Ms. Fatma El Maawy, lauded the resilience of Africa’s private sector while calling for a transformative approach to shaping the continent’s future. She noted that now more than ever, the private sector must take the lead in transforming Africa’s future and that ABEC 2024 will provide a vital platform for business leaders, policymakers, and civil society to come together, share experiences, and devise solutions to the ethical challenges that plague our continent.
ABEC 2024 leaves a lasting legacy by championing ethical business practices as a cornerstone for Africa's sustainable economic growth.