South African Breweries (SAB) AB InBev on Friday became the latest company to sign the Department of Trade and Industry’s (dti) Guidelines for Good Business Practice.
The dti’s Guidelines for Good Business Practice by South African Companies Operating in Africa, are a voluntary set of principles and standards that seek to ensure that the operations of various South African businesses abroad are in compliance with the laws of the countries in which they operate in.
They also entail principles and standards that are aligned with and in support of government policies and the developmental approach to regional economic integration in the African continent.
Minister of Trade and Industry Rob Davies said that AB Inbev’s signing of the guidelines confirms the importance attached by both government and AB Inbev to support the development integration efforts of the continent, as well as to improve the quality of South Africa’s presence and reputation.
“The guidelines represent a proactive initiative by our government to promote responsible business conduct and good corporate governance by the South African private sector in their business engagements within the continent. They, therefore, facilitate intra-Africa trade and investment opportunities for the South African private sector in the Continent in a manner that supports and advances Africa’s developmental agenda,” said Davies.
Ricardo Tadeu, the Africa Zone President of SAB ABInBev, said signing the guidelines was a milestone moment for the company.
“We aim to be leaders in growing our Business in Africa in the right way. We want to make a real and positive difference in the communities that we serve. Globally and in Africa, we will fully comply with the relevant laws and policies in jurisdictions across Africa, take a firm stand on anti-corruption, promote compliance as well as environmental responsibility and sustainable business practices,” he said.
The guidelines were approved by Cabinet in September 2015 and launched by Davies in Pretoria in July 2016.
Over 50 companies including Vodacom, PPC, Tongaat Hulett, Foschini Group and Adcock Ingram have since signed the guidelines. – SAnews.gov.za