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09.03.2009 Business & Finance

GIPC commended for promoting best business practices

By Daniel Nonor ([email protected]) - Ghanaian Chronicle

Improving Business Practice (IBP), promoters of the Ghana Business Code (GHBC) has commended the Ghana Investment Promotion Centre (GIPC) for including elements of the code in the evaluation criteria for the Ghana Club 100 awards.

The GHBC, which is a voluntary code, sets out standards for corporate social responsibility with particular reference to human rights, labour rights, environmental conservation and anti-corruption measures.

As part of actions to promote best business practice, the GIPC has upgraded the criteria for the awards, established through stakeholder inputs. The new criteria include key elements of the GHBC which comprise human rights, anti-corruption labour and environment issues.

These elements of the code are expected to serve as the basis for assessing the conduct of businesses in Ghana and are aimed at encouraging holistic corporate social responsibility.

The Manager of Improving Business Practice, Mr. Johnson Ben Oduro said “I am delighted about the commitment of GIPC to the GHBC and its principles. It is important that businesses commit to standards that facilitate their economic goals while contributing meaningfully to human development”.

“The Ghana Business Code facilitates trust between companies and their stakeholders and opens up opportunities, both internationally and locally, for business growth to companies which subscribe to the code”, Mr. Oduro added.

The Ghana Business Code allows for branding opportunity that attracts foreign business operations and investment into Ghana, boosts the ability of companies to attract and retain the highest qualified employees, and increases employee motivation, loyalty and productivity as well as creates brand value of best business practice towards consumers.

All businesses, both large scale and small and medium enterprises are encouraged to sign on to the code to help consolidate best business practices in Ghana.