South Africa’s Absa Group Procurement has boosted the profile of financial services in Africa by being awarded the prestigious Chartered Institute of Procurement & Supply (CIPS) Ethics Kite Award, confirming the banking giant as a leader in reinforcing ethical values across procurement and supply chain practices. Through this award, held by only a select few entities globally, Absa Group Limited receives recognition via an internationally published listing on the CIPS Corporate Ethics Register.
To achieve this accolade, CIPS, a UK-based global professional body representing the purchasing and supply chain profession, requires that companies and organisations demonstrate respect and awareness of international Environmental, Social and Governance (ESG) standards against criminal conduct, including bribery, corruption, fraud, human rights and environmental abuse, and protect against potential supply chain malpractice.
Absa’s Chief Procurement Officer, Vusi Fele, said: “I would like to extend my heartfelt appreciation to all the Procurement colleagues for the individual and corporate commitment, drive and efforts employed to ensure we achieve the coveted CIPS Ethics Kite Award.
“This independent accreditation is also testament to the continued leadership we demonstrate on our ethical posture and Absa Way throughout the Group and our approach to suppliers and service providers embedded in the Absa Supplier Code of Ethics.”
Absa procurement staff based in South Africa, Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania and Zambia successfully completed the CIPS Ethics Mark training and assessment, demonstrating the group’s commitment to reinforcing ethical values across procurement and supply chain practices.
The CIPS Corporate Ethics Kite Mark carries numerous advantages for organisations, including enhancing reputations, boosting morale, protecting the organisation and understanding international standards against criminal conduct.
Craig O’Flaherty, Head of CIPS for Business, CIPS Africa, said: “Organisations have a crucial role in upholding the highest ethical standards. Their actions help to ensure that our shared commitments to improve environmental, social and governance outcomes for people and planet remain a priority.
“In achieving their CIPS Corporate Ethics Kite Mark, Absa Group have proved their commitment to these goals by investing in their procurement and supply chain professionals ensuring ethical sourcing and supply chain management are key to the Group’s continued success.
“I would like to congratulate Absa Group in securing our Ethics Mark. They are a shining example to other organisations across Africa to follow their lead and commit to the highest standards of ethical procurement.”