BUSA intensifies anti-corruption efforts

BUSA CEO Tanya Cohen

BUSA CEO Tanya Cohen

Published Sep 8, 2017

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JOHANNESBURG - Business Unity South Africa (BUSA) has committed,

alongside social partners, to engage immediately, comprehensively and

unequivocally in curbing the scourge of corruption that is stifling South Africa’s

economy.

BUSA Vice President Martin

Kingston, said at the 22nd Nedlac Annual Summit under the theme Restoring

integrity by combating corruption through good governance that business needs

to acknowledge that it is often complicit in enabling corruption, benefiting from

corruption and has not been adequately strident and outspoken in dealing with

corruption where it arises in the private sector.

 “South Africa cannot afford the

social and economic ramifications of corruption. Corruption undermines our

economic and social potential. Together with government, organised labour, and

community, we must commit to restoring good governance and decisively acting

against corruption”, said Kingston.

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Kingston said business

identified key issues that Nedlac needs to find more effective ways to enable

social partners and government to work together and drive economic

transformation for inclusive growth; systematically address regulatory burden

that is stifling the economy; engage comprehensively on energy matters; address

youth employment challenge; and address corruption that is undermining and compromising

our social progress.

“BUSA raised concern with

the state of South Africa’s

state-owned enterprises, especially their governance, sustainability and

financial viability, which are all of significant concern to the business

community.  “This is no more starkly represented than the challenges faced

by Eskom, which serves as a proxy for the health of South Africa. As business, we are

extremely concerned that Eskom is at a tipping point. The necessity to ensure

that Eskom is put on a more sustainable path is a national priority that requires

serious consideration and our collective input,” said Kingston.

Tanya Cohen, Chief Executive

Officer of BUSA indicated that BUSA has recently adopted guiding principles to

address corruption and embed integrity within business. In this regard BUSA

members have pledged to adopt the highest ethical standards, levels of

accountability, and good governance principles. Pursue a transparent, zero

tolerance approach with legal and visible consequences for companies and

individuals found to be involved in corruption. Implement processes, controls

and procedures to ensure compliance with anti-corruption legislation, including

creating conducive conditions for whistle-blowers to come forward.

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“In supporting its members

in the implementation of anti-corruption principles, policies and mechanisms,

BUSA is going to add its weight to anti-corruption efforts, raise awareness and

identify management tools that are easily accessible to enable best practice in

governance within business”.  

“BUSA points to Nedlac as a

key forum for collaboration in the fight against corruption. Thus, the

recommendation for instituting support mechanisms within Nedlac to build on the

Summit theme of

restoring integrity by combating corruption through good governance,” said Cohen.

Cohen said there was a real

risk of further sovereign ratings downgrades, which would exacerbate the

current pressures on the fiscus and limit South Africa’s ability as a country

to pursue economic and social development. The lack of economic and political

certainty has increased businesses’ levels of caution, as reflected in the

business confidence index.

“Urging all social partners

to rededicate their commitment to address all these challenges, BUSA reaffirmed

its readiness to deal with corruption, whether it occurs in the private sector

or in the public sector,” said Cohen.

-BUSINESS REPORT ONLINE

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