Ruto scold 2 CEOs asking them to refund salaries over their failure to deliver
Ruto scolds 2 CEOs reprimanding them to refund salaries over their failure to deliver to Kenyans as assigned by the government.
On Tuesday, October 11, President William Ruto sought a salary refund from two Chief Executive Officers (CEOs) for failing to carry out their official obligations.
Ruto scolded the two senior employees during the opening of the Nairobi Securities Exchange (NSE) Market Place at the Exchange Building in Westlands for not allowing companies to list for online trading.
He explained that despite the fact that the two CEOs had been in charge of their companies for five and 13 years, respectively, adequate progress had not been achieved to allow new businesses to join NSE.
“I think it would be fair to ask for a refund of salaries from those two gentlemen. They haven’t done the job they were hired to do and you know the job is based on results,” he stated.
“So, you guys must actually demonstrate to me why you should not refund the salaries we have been paying you,” Ruto added.
The head of state hinted at the revision of the investment laws to allow more companies to trade on NSE.
“The law exists to serve as if it is not serving us, we change. If we cannot change, we repeal so that we give ourselves the latitude to do the right thing,” Ruto insisted.
However Ruto gave the two CEOs his word that his administration was prepared to take the reins and ensure that the businesses carried out their mandates as planned.
Ruto pledged to establish a legal framework to support the highest officials in carrying out their duties without hindrance.
He also gave NSE stakeholders assurance that its operations will be led by Moses Kuria, a nominee for Trade Cabinet Secretary, and Njuguna Ndung’u, a Treasury nominee.
He also said the government will list between six and ten state corporations on the NSE within the first year of his administration.
Additionally, Ruto hinted at empowering Boda Boda operators, vegetable vendors, and other entrepreneurs to start trading on NSE.
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