GE hosted a compliance dialogue summit in Lagos with key business stakeholders as part of its efforts to highlight the importance of operating with integrity.
The engaging sessions, which were held under the theme, “A Better World: Resolving Ethical Business Challenges,” brought together key stakeholders including customers, consultants, legal experts, and regulatory agencies, to collectively identify the opportunities and address the challenges to fundamental ethical issues in business practice.
In a statement yesterday, the Executive General Counsel for GE Africa, Ozim Obasi, was said to have identified the need to resolve ethical challenges for business growth.
He said: “Our customers and stakeholders are critical partners in helping us to realize GE’s vision to operate with compliance. This roundtable was an opportunity for us to listen and share learning from our programs such as ‘The Spirit & The Letter’, our robust employee code of conduct.”
Understanding the value of compliance and ethical policies, and its successful integration into the workplace culture will protect businesses from potential exposure to lawsuits, reputational damage, financial loss and stunted business growth, he added.
Some of the issues discussed included winning with integrity through fair competition and honest practices, commercial compliance excellence, avoiding conflict of interest, and encouraging open reporting to ensure employees know how to raise concerns and feel safe doing so.
Understanding the value of compliance and ethical policies, and its successful integration into the workplace culture will protect businesses from potential exposure to lawsuits, reputational damage, financial loss and stunted business growth.
Reiterating GE’s commitment to integrity and compliance, the Chief Compliance Officer for GE Gas Power Middle East & Africa, Matthew Nobles, added that “Integrity and compliance serve as the foundation to deliver on our commitment – something GE has been doing for 130 years.”
Also, the Services Executive, GE’s Gas Power business, Sub-Saharan Africa, Kenneth Oyakhire, said: “As a company, GE remains committed to acting ethically – doing the right thing, always with unyielding integrity – and will continue to engage with the broader regional ecosystem across the power sector through this yearly summit, because by cooperating closely, we can find better, faster, and more effective ways to compliantly drive business performance and growth.”
