Africa Biz Construction and Business News
South African Breweries AB InBev Signs Off On South Africa Good Business Practices Guidelines
July 10, 2018
InBev\'s South African Breweries (SAB) AB just signed off on South Africa\'s "Guidelines for Good Business Practice by South African Companies Operating in Africa".
Signing these guidelines, developed by Department of Trade and Industry’s (the dti), demonstrating the Company’s commitment to promote responsible business conduct in all of its operations on the Continent, and drive sustainable development in Africa.
The guidelines 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, as well as aligned with and in support of government policies and the developmental approach to regional economic integration in the African continent. The development integration approach combines market integration with industrial and infrastructure development with a view to promote the development of regional value chains across the African continent.
The global Dream at SAB AB InBev is to bring people together for a Better World. In the Africa Zone, the Dream is to create a model company, one that grows and uses its resources wisely, that everybody loves to work for and that makes a real difference in society. This Dream underpins everything undertaken in the Zone, across all the Company’s operations. As such, the dti’s Guidelines for Good Business Practice in Africa are a critical element to achieving this dream.
Ricardo Tadeu, the Africa Zone President of SAB ABInBev, said signing the guidelines was a milestone for the Company. It is in line with one of the Company’s key guiding principle to be a leader in ethics and compliance.
“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.
“We will do the latter through our 2025 Sustainability Goals, which embed sustainability into our business strategy. Our aspiration in Africa is to open ourselves up to public scrutiny and be acknowledged as a leader in corporate integrity. We look forward to proving ourselves to the people on the Continent,” he said.
The Minister of Trade and Industry, Dr 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.