Responsible business conduct entails above all compliance with laws, such as those on respecting human rights, environmental protection, labour relations and financial accountability.
Speaking during the opening of a two-day stakeholders training workshop in Dar es Salaam yesterday, CTI Policy Specialist-Trade Frank Dafa said that by adhering to responsible business conduct, it enhances positive impacts on economic growth.
Dafa said that the workshop brought together over 20 participants from various member companies to drill them with essential skills on responsible business conduct.
“We have experts from Denmark today who are taking the participants through the course to enable them to deeply understand responsible business conduct so as to apply in their companies for more benefits,” he said.
He said as an organisation which has been working to support companies to operate effectively, prosper and contribute to national wealth and development, it will continue advocating to ensure that integrity remains their core guideline.
He said that the workshop has been conducted under the Strategic Partnership Programme implemented by CTI and the Confederation of Danish Industry (DI).
Dafa noted that doing business with integrity will more likely generate good returns, attract investors and retain motivated employees. In contrast companies that don’t make efforts to do business responsibly can face long-lasting reputational and financial damage.
“Participants will also be awarded with certificates of participation so as to enable them to be recognised when making networks and partnerships with other companies,” he added.
Denish Kotecha, a product development manager at the 21st Century Textile Ltd commended CTI for organising the workshop saying that this will help them to further improve their businesses.
“Although we have in-house business conduct at our company, I am sure that this training will further help us to improve our activities and conduct business more responsibly, expand networks in and outside the country and thus generate more income,” he said.
Kotecha said 21st Century Textile Ltd is currently eyeing for more markets in Europe and America, so investing in responsible business conduct is inevitable.
Ashery Mbasha, chief financial officer at Chemi and Cotex Industries Ltd hinted on the note that having responsible business conduct enables the company to implement its projects smoothly and contribute to social and economic growth.
“Our company also promotes gender equality, respects human and children rights as well as ensuring that we deliver quality services and products to consumers,” he said.
Recently, CTI developed a special “Code of Conduct” which will be complied by member companies so as to further enhance trust and promote ethical sustainable business in the country.
The Code of Conduct is a common framework for what is legitimate, just and fair conduct for businesses in Tanzania. The code relies on moral principles and values that have been shared by members and supported by common practical experience and accepted norms.