Trade and Industry Minister Rob Davies says the commitment made by Adcock Ingram to good business practice guidelines demonstrates the pharmaceutical company’s support to promote the sustainable development of the African continent.
The company on Thursday signed the Guidelines for Good Business Practice by South African Companies Operating in the Rest of Africa at a signing ceremony at the Department of Trade and Industry (dti) Campus in Tshwane.
The guidelines, which are an initiative of the dti, were developed in consultation with other related government departments, the private sector and labour organisations.
The guidelines are a voluntary set of principles and standards that aim to promote responsible business conduct. They provide a guiding framework for South African companies, as active members of the continental business community, to promote sustainable economic development in Africa in accordance with the continent's socio-economic developmental imperatives.
Having witnessed the signing of the guidelines, Minister Davies expressed gratitude to the leadership of Adcock Ingram in demonstrating its support for this initiative and the role of corporate governance in promoting the sustainable development of the continent as a whole.
"The dti looks forward to fostering enhanced collaboration with Adcock Ingram in strengthening its presence and impact on the continent. In line with South Africa's and the continent's developmental integration ambitions, the guidelines represent a proactive initiative by our government to promote responsible business practice and good corporate governance by the South African private sector in their business engagements on the continent," said Minister Davies.
The Minister further added that the signing of the guidelines confirms the importance attached by both government and Adcock Ingram to supporting the development integration efforts of the continent, as well as to improve South Africa's presence and reputation on the continent.
Adcock Ingram Chief Executive Andrew Hall, who signed the guidelines, said the signing of the document is a reflection of the way the company does business in South Africa and in the 13 African countries to which it exports, or in which it has local infrastructural presence.
"Signing our commitment to the Good Business Practice Guidelines is an enhancement of our existing commitment to doing business in the rest of Africa, at the highest standard of ethical business practice. The signing also reflects our commitment to providing quality products that improve the health and lives of people in the markets we serve, while operating responsibly and ethically," said Hall.
Hall further confirmed Adcock Ingram's ongoing commitment to expanding its established investment in South Africa, which has benefits for both for the export markets they serve and enhances the company's ability to protect and expand jobs in the local manufacturing environment.
Adcock Ingram manufactures and markets distributes a wide range of healthcare products. It trades in, or exports to over 13 markets on the African continent including Kenya, Zimbabwe and Ghana.
Cabinet approval
The guidelines were approved by Cabinet in September 2015 and launched by Minister Davies in Pretoria in July 2016.
A total of 54 companies, including Vodacom, PPC, Tongaat Hulett, Foschini Group and Bidmark Holdings, have signed the guidelines since their launch. – SAnews.gov.za
