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#1728
bhiliadmin
Keymaster

The emergence
of the twenty-first century was plagued with extensive, evasive and disheartening ethical
leadership failures. Neither the public nor private sectors was immune as many leaders were
exposed for immoral or unethical behaviors. Financial greed and corruption, corporate
meltdowns, and spiraling unethical practices were revealed as financial scandals surfaced at
prominent companies such as Richmond Development Company LLC ,was
awarded the tender for emergency power supply,
despite having its initial proposal rejected by
Tanzania Electric Supply Company Limited
(TANESCO) (Cooksey 2017).also there One of the most salient scandals includes the 2012
case involving Stanbic Bank (subsidiary of Standard Bank ) and the Tanzanian government (Andreoni 2017) in which the government borrowed US$600 Million as a part of its sovereign debt for development projects at the fee of 1.4 per cent. It was later discovered that the fee had been raised from 1.4 to 2.4 per cent, and the difference in was directly transferred to a local company called EGMA whose chairman, Harry Kitily was Tanzania Revenue Authority’s (TRA) commissioner
general at the time of the deal (Andreoni 2017).Within 10 days of the amount (US$6 million) being transferred, the account had been almost entirely emptied after four cash withdrawals of between
US$1.17m and US$1.45m (Bowers 2015). Due to this leadership and management theorists began to place a renewed emphasis on the importance of ethics and morality in exemplary leaders.