Business

Business entities �shun� private sector code of conduct

The code has received 400 subscriptions out of 2,989
 
The code has received 400 subscriptions out of 2,989

The code was promulgated in 2001 by the DCEC, Business Botswana (BB) and the Commonwealth Business Council.

According to DCEC procurement officer, Godfrey Onkokame, the code has so far received just over 400 subscriptions out of a total of 2,989 members of BB, which is a representative of the business community.

He noted that concern was raised regarding the issues of conflict of interest, which arise as a result of links amongst the public servants, private companies and politicians.

“The code represents voluntary commitment made by companies, associations and other entities, on the conduct of business activities in the marketplace,” Onkokame said.

He further explained that a consensus was reached that an agenda for change was necessary, with a major recommendation being the development of comprehensive guidelines on corporate governance, which can be encompassed in a code of conduct for the business sector.

Onkokame said the code of conduct for the private sector, published in 2011, covered areas such as business ethics, conflict of interest, solicitation, offering and acceptance of bribes, business with commission payments, protection of shareholder value, penalties for non-compliance.

“This code is applicable across sectors of the economy including small, medium and micro-sized enterprises (SMMEs), associations, societies, non-governmental organisation (NGOs),” he said.

He said business people need to ask themselves why there is a low turnout to embrace the code, whether it is because of low information dissemination or it is because there are more robust and encompassing codes of conduct or compliance programmes already in existence.

However, Onkokame stated that there are opportunities for improvement, noting that the code is due for its five-year review.

He acknowledged the declining standards of conduct and integrity in the private sector, which he said may lead to unethical business activities.

“We can either embrace or improve (the code of conduct), but we can’t afford to do nothing,” Onkokame said.