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EDC urges SMEs in the oi and gas industry to adopt code of business conduct

  • SOURCE: | qwesa2big
  • gas companyMs. Shika Acolatse, the Centre Director of the Enterprise Development Centre (EDC), an initiative of the Government of Ghana being driven by the Ministry of Energy and Petroleum as well as the Ministry of Trade and Industry, has urged local Small and Medium Enterprises (GhSMEs) to as a matter of urgency develop or adopt a Code of Business Conduct in line with international best practices in the Oil and Gas Industry.

    Speaking at the third in the series of the Centre’s SMEs training programme on Business Ethics and Compliance including anti-bribery, Ms. Acolatse said the conscience-focused market places of the twenty-first century demands good ethics from all in all business operations and dealings.

    Key among the areas covered by the training included was an introduction to business ethics and compliance, ethical dimensions in SMEs businesses, the UK Bribery Act of 2010, the US Foreign Corrupt Practices Act, the Labour Act, 2003 (Act 651), the Anti-Money Laundering Act,,749 (2008) of Ghana, the recently-launched business principles of Kosmos Energy, and sections of the Code of Business Conduct of Tullow Oil.

    Leading the training, the facilitator and Head of Training, Development and Research of the Centre, Mr. Yen Sapark, pointed out that ethics and morals arc the foundation of every good entrepreneur. He added that early on, decisions must be clear on what one stands for in business and what lines the business will refuse to cross.

    Mr. Sapark reminded the SMEs of the zero tolerance of corruption by the International Oil and Gas Companies such as Tullow, Kosmos Energy among others, and urged all to avoid wilful blindness in this regard.

    The 22 participants from 19 SMEs were enthused by the salient revelations. Speaking to our reporter soon after the programme, some participants praised the Centre’s excellent training programme, rich delivery of the training module -¬expressing the hope that with these types of training the Ghanaian SMEs will soon be heading to world-class status.

    Source: B&FT

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