STANBIC BANK GHANA
COMMUNICATION ON PROGRESS
Year: Dec 2007 - Dec 2008
October 2008, Mawuko Afadzinu, Head,
Marketing and Public Affairs
Contact: Mawuko Afadzinu
Email: afadzinum@stanbic.com.gh
Phone: +233 244 337313 Fax: +233 21 687669
Page 1
COMMUNICATION ON PROGRESS REPORT ON THE UN GLOBAL COMPACT SUBMITTED BY
STANBIC BANK GHANA
NATURE OF BUSINESS
Stanbic Bank Ghana Limited is a provider of banking and financial services in Ghana. Stanbic Bank
is a member of the Standard Bank Group which is rated as the biggest bank in Africa. The Standard
Bank Group has on three consecutive years swept the world acclaimed Magazine Euromoney’s
African Bank of the year awards for 2005, 2006 and 2007.
Stanbic Bank Ghana provides retail and corporate banking services, off shore services and generally
provides financial advice for Small and Medium Enterprises, Corporate Entities, Government and
International organizations operating in Ghana.
Currently working for Stanbic Bank Ghana is a closely knitted team of four hundred and fifty members
of staff. Stanbic Bank Ghana has a network of seventeen (17) branches. The plan is to grow this
footprint into a twenty-five (25) branch network by the close of the year 2000.
In diverse forms and in several fronts, Stanbic Bank Ghana has been active in its social support
engagements. These range from project support, to sponsorship of projects and synergised
assistance to community improvement undertakings.
Among the priority support areas are sports development, poverty relief, education, health,
environmental protection.
A few examples may suffice: In the Sport Space, Stanbic Bank Ghana partnered Play Soccer an
International UN approved NGO in rolling up an impressive sports for development programme in
Ghana. This was on the back of Stanbic Bank’s much acclaimed sponsorship of the Confederation of
African Football’s Ghana 2008 competition. The Bank teamed up with the Local Organising
Committee and assisted in staging one of the best Africa Cup of Nations Tournament in recent times.
This partnership is expected to continue in for the next 8 years.
Our support covers agriculture as evidenced by our sponsorship of the prize vehicle awarded to the
first runner up at the 2007 National Farmers’ Day Celebration and support to the College of
Agricultural Science at the University of Ghana Legon. Beyond these Stanbic Bank continues to
support the National Association of Agriculture Studies and provides thought leadership assistance to
the Students.
As a Bank which believes in Africa because, our roots are from Africa, our social responsibility has
transcended local boundaries. Our active engagement in and support of various aspects of last
year’s Africa Union meetings in Ghana flowed from this Pan African vision
STATEMENT OF SUPPORT TO THE COMPACT
Stanbic Bank Ghana is totally committed to the principles espoused by the Global Compact. The
principles guide the workings within the bank. Principles of Human Rights, Free Labour, Sustainable
Environment and Anti Corruption continue to be key drivers in our operations and dealings.
As a member of a reputable group which has been awarded severally for its initiatives in supporting
the fight against HIV/AIDS and other key international campaigns, we consider the Global Compact
as a world initiative worthy to be associated with.
A member of our Board of Directors, Ms. Joyce Aryee continues to head the Global Compact Group
in Ghana and she’s been influential in getting us signed on to the compact. Even though we are new,
we have observed closely the activities of other stakeholders in the compact and we consider our
deeds well in line with the principles stated therein.
We at Stanbic Bank has no choice but to keep to the principles and other initiatives which clearly
ensures that labour is happy, the environment is safe guarded for future generations and corruption
within our system is eradicated completely. This is the only way to ensure there is a world for the
future and one we can all be proud of.
Even though we signed on the Compact not long ago, we declare our unflinching support to the
principles outlined. We pledge to ensure that these principles are engrained in our activities and
policies; a process which has already kicked off. We commit our organisation and its activities to the
principles governing the Compact; we commit to ensure that our processes and structures are further
tailored to ensure that the fine details of the principles are imbibed in them.
PRINCIPLE 1
BUSINESS SHOULD SUPPORT AND RESPECT THE
PROTECTION OF INTERNATIONALLY PROCLAIMED HUMAN
RIGHTS
Basic principles and actions taken
Stanbic Bank Ghana Limited is an equal opportunity employer. Over the nine years we have
Principles and actions
been operating in Ghana, we have committed ourselves to the principle of ensuring that the
dignity and self respect of employees are respected at each point in time. Principles of
employment equity, protection against all forms of harassment, equal opportunity to all forms
of positions and respect for each other are upheld.
Respecting each other for us means we have the highest regard for the dignity of all people.
We respect each other and what Standard Bank stands for. We recognise that there are
corresponding obligations associated with our individual rights.
We have developed a Human Resources Policies and Procedures Manual which is given to
all new staff to study and adhere to. Again, in 2005, we developed a Code of Ethic document
which stipulates clearly best practices expected of staff and the employer.
Measurement of (expected) outcomes and value added for our company
Outcomes
Currently, Stanbic Bank has such a wide employee base covering all ethnic groups. Minority
ethnic groupings have equal access to the bank’s employment programme just as their
counterparts in the majority. Figures show a near 50-50 per cent employment ration for both
groupings.
Female employment has shot up to an appreciable level, climbing up to 38 per cent of the
work force compared to 10 per cent in four years ago.
Management has over the years seen to the organisation of programmes and training
seminars that have encouraged managers and staff to religiously stick to the respect of one
another in the organisation.
At the group levels, Respect for Each Other is a key value of Standard Bank and Stanbic
Bank Ghana, a subsidiary has lived by this in its nine years of existence.
PRINCIPLE 2
BUSINESS SHOULD ENSURE THAT THEY ARE NOT
COMPLICIT IN HUMAN RIGHTS ABUSES
Principles and actions
Basic principles and actions taken
We, on a constant basis, ensure that respect for the dignity of each other is upheld and that
staff are not taken for granted and subsequently their rights abused. At the department
levels clear structures are instituted to ensure that people follow laid down procedures that
do not compromise the rights of the individuals.
Respect for human rights underpins our day to day activities and the business. In our
society, people especially women and minority groups could easily be taken for granted and
abused. On this basis we endeavour to employ international standards in dealing with our
staff and their associates. We employ skills that trickle down and ensure that at every point
clear signals are sent to people who are likely to compromise the rights of others.
For us, the leadership of Ms. Joyce Aryee as Global Compact Chairperson in Ghana and
her role on our Board is key testimony of how ready we are to uphold and commit to the
principle of not compromising on the dignity of individuals we work and associate with.
Measurement of (expected) outcomes and value added for our company
Induction of new staff into our fold has become the training point for us in imbibing them in
our values and vision. Known as fresh Blue Genes, the new staff are taken through the
processes and principles of the business that define us. New Team Members are shown the
Standard Bank way of doing things, which employs fairness in dealing with each other
among others.
Outcomes
Again, our procedures to sign on new customers, referred to as the Know Your Customer
(KYC) processes, are able to fish out companies and individuals who are potential threats to
the rights of people and we thus will not do business with them.
Through this process, people who are politically exposed are not dealt with as customers
and they are asked to declare their sources of finances clearly before we can sign them on.
This way we are able to determine if the funds were gotten from abuse of other people’s
rights.
Besides, annually we conduct Staff Service Survey (SSS) that takes feedback directly from
staff on how the organisation is being run and how best the shape things. The survey
indicates which part of the organisation is performing and what can be done to bring up
sectors seen as lagging behind.
Secondly, our Blue Genes Induction, where new members of staff are formally inducted into
the organisation, incorporates in the curricula our values, key among which is respect for
each other. To this end all staff regardless of their role and position in the Bank have “first
name” relationships with each other. And this helps to ensure an open work environment.
PRINCIPLE 3
BUSINESS SHOULD UPHOLD THE FREEDOM OF
ASSOCIATION AND THE EFFECTIVE RECOGNITION OF THE
RIGHT TO COLLECTIVE BARGAINING
Principles and actions
Basic principles and actions taken
Stanbic Bank Ghana has a very well structured organisational procedure that to a very large
extent adequately caters for the rights of staff. The Labour Act 2006, (Act 651) protects the
rights and responsibilities of workers in Ghana. The Act has several clauses that ensures
that the labour is treated with utmost respect and laid down procedures are followed in the
termination of labour and others.
Stanbic Bank Ghana respects this act to the letter. The right to association and promotion of
workers’ associations are respected and supported. We have a vibrant Labour Union in
place. A Collective Bargaining Agreement (CBA) document has been developed and signed.
The CBA speaks to terms of engagement, conditions of service and other pertinent issues to
harmonise relationships between management and staff.
Measurement of (expected) outcomes and value added for our company
Outcomes
A new CBA was completed recently (2008). The new CBA has in it new policies that ensure
a win win situation for employees and management.
Under the new CBA, a Pay for Performance Principle has been inserted. Now, bonus to staff
is directly tied to performance. This is considered a more objective reward system than a
whole bonus payment system which fails to recognise individual outputs. Labour and
management signed to this. However, management pays salary increase to reflect market
relationships including inflation.
Career Management processes are driving to ensure that optimal utilisation and
development of talents are promoted. Regular meetings, open discussions and
consultations contributed in and eased the flow of information (opinions, grievances,
problems) and ideas (suggestions, comments) bringing openness and transparency in the
organization's everyday conduct.
PRINCIPLE 4
BUSINESS SHOULD SUPPORT THE ELIMINATION OF ALL
FORMS OF FORCED AND COMPULSORY LABOUR
Principles and actions
Basic principles and actions taken
Ghana has a Labour Law that frowns on all forms of forced labour and compulsory labour.
The Act upholds fair treatment of all staff in an organisation. Stanbic Bank Ghana upholds
this principle and has instituted internal processes to ensure that this is respected.
Work roles are assigned based on knowledge, skills, abilities and/or experience. Job grades
are designated based on levels of responsibilities, accountability and complexity.
In our dealings with suppliers, we pay very particular attention to what sort of Work force our
suppliers engage. Beyond that in our branches and Corporate Banking space, we decline
deals and transactions where the source(s) of finance is directly tied to using labour not
sanctioned by law.
Outcomes
Measurement of (expected) outcomes and value added for our company
Staff contracts indicate the voluntary nature of employment and the Human Resources
policies and manual provide for the voluntary termination of the employment contract.
We have a Grievance Procedure and Disciplinary process that is fair, compliant with the
Labour Act and respects the rights of the individuals. To this end, issues are referred to the
Human Resources Unit and they are promptly dealt with.
Intense inquiries are held before Disciplinary Committees. Through this, rights are upheld,
no single individual can decide on complaints and or accusations.
PRINCIPLE 5
BUSINESS SHOULD SUPPORT THE EFFECTIVE ABOLITION
OF CHILD LABOUR
Principles and actions
Basic principles and actions taken
Stanbic Bank Ghana supports Ghana’s Labour Act clause 116 which strongly prohibits the
use of child labour. Stanbic Bank Ghana will not hesitate to cut links with clients that utilise
child labour or are in contravention with the law.
Measurement of (expected) outcomes and value added for our company
Our Human Resource Manual and Procedure supports the laws of Ghana and we have in
Outcomes
effect adopted all the laws in the country that protects the rights of children. Our clients are
thoroughly screen to establish that they are not employing child labour in their dealings and
manufacturing processes.
Besides, we embark on periodic visits to clients’ farms and factories to assess the sort of
labour force they employ. We won’t hesitate to cut every link with such clients and suppliers
PRINCIPLE 6
BUSINESS SHOULD SUPPORT THE ELIMINATION OF
DISCRIMINATION IN RESPECT OF EMPLOYMENT AND
OCCUPATION
Principles and actions
Basic principles and actions taken
Stanbic Bank Ghana ensures that its employees are guaranteed a fair working environment
and protection from the loss of their jobs. They have the right to equal pay for equal work
without any hidden or hideous clauses or impediments. Issues of gender, race, marital
status, creed, disability among others do not influence what roles we assign employees or
what salaries they earn.
Measurement of (expected) outcomes and value added for our company
Stanbic Bank has a comprehensive Collective Bargaining Agreement (CBA) that frowns on
Outcomes
any form of discrimination in respect to employment and occupation.
Stanbic Bank Ghana is an equal opportunity company. Reward and recognition, training,
performance management and all employee life-cycle activities are in consonance with fair
labour practices.
PRINCIPLE 7
BUSINESS SHOULD SUPPORT A PRECAUTIONARY
APPROACH TO ENVIRONMENTAL CHALLENGES
Basic principles and actions taken
Stanbic Bank has a clear policy on matters of clean environment in the office space and
beyond. As a member of a highly resourced group which adopts strict measures on
Principles and actions
cleanliness, Stanbic Bank Ghana strictly adheres to these world standard measures.
A clean desk policy is in place and it is supported by documents to which staff sign to
support and implement.
Besides this, Stanbic Bank Ghana has a number of environment impact projects lined up
including the roll out of several branches. To this end, we encourage the usage of electronic
communication for internal correspondence as a way of reducing the volume of paper
consumed within our network. This is part of our conscious environmental preservation
practices.
Outcomes
Measurement of (expected) outcomes and value added for our company
We recently signed a safe desk policy which commits staff to respect the clean desk policy,
be responsible in handling the Internet and related IT appliances as well as take general
precautions against fire.
PRINCIPLE 8
BUSINESS SHOULD UNDERTAKE INITIATIVES TO PROMOTE
GREATER ENVIRONMENTAL RESPONSIBILITY
Principles and actions
Basic principles and actions taken
Stanbic Bank Ghana has a number of initiatives to promote higher environmental
responsibility. Seminars, conferences and general awareness of the need to be
environmentally responsible form a key component of our programmes.
A Business Recovery Plan is in place to conscientize staff to be responsible in dealing with
the environment. The recovery plan speaks to general practices to prevent fire outbreaks,
unnecessary electrical blow ups, and choking of sewerage systems that will lead to
leakages and other spillage of water. The recovery plan also advises on responsible use of
air conditions and other ventilation appliances among others.
Periodic training programmes are held for staff including management, to consistently
remind staff of the need to be environmentally responsible.
Measurement of (expected) outcomes and value added for our company
Outcomes
Our Blue Genes Induction programme has adopted fire fighting training as a key component
in the curricula used to run the programme. New team members are taken through
measures that encourage environmental responsibility and greater awareness of how to
take good care of their surroundings.
As a bank we have contributed significantly to the protection of the environment through the
sponsorships of NGOs working in this space and support for environmental protection
groups and bodies. Case in point, ZoomLion Ghana Limited, the biggest refuse collector in
Ghana, has enjoyed considerable support from the Bank. In 2008, we supported their bid to
clean the city when Ghana hosted the 23rd Edition of the African Cup of Nations Tournament
in Ghana.
The Bank again supports the company with loan facilities to expand its services and embark
on initiatives aimed at protecting the environment.
Principles and actions
PRINCIPLE 9
BUSINESS SHOULD ENCOURAGE THE DEVELOPMENT AND
DIFFUSION OF ENVIRONMENTALLY FRIENDLY
TECHNOLOGIES
Basic principles and actions taken
E-learning is a key component of Stanbic Bank Ghana’s training programme. This
substantially cut down on travels to the training centre. Stanbic Bank Ghana is committed to
these technologies and to this end we are constantly reviewing processes to ensure that
employees cut down on paper usage and on travel time both in and out of the country for
training programmes or to attend meetings.
Outcomes
Measurement of (expected) outcomes and value added for our company
Currently, travels to the Head Office in South Africa is considerably reduced and in its stead
tele-conferencing adopted. This way we contribute to the reduction in the pollution of the
environment because we have cut down on air travels.
Information Technology Systems such as Microsoft Exchange and Active Page, servers and
other productivity enhancing services that ensure a proper free environment have been
adopted.
PRINCIPLE 10
BUSINESS SHOULD WORK AGAINST CORRUPTION IN ALL
ITS FORMS, INCLUDING EXTORTION AND BRIBERY
Principles and actions
Basic principles and actions taken
On January 2, 2005, a new Code of Ethics document was adopted and in it are entrenched
clauses to ensure high level of standards among staff. The Code of Ethics stipulates policies
against extortion, bribery and corruption in all forms and shapes. Stanbic Bank Ghana is
committed to this document and new team members are taken through these clear rules of
engagement before they sign up their employment contract.
The Code of Ethic is considered comprehensive and extensive. It follows from the Standard
Bank Groups own ethical conducts and this is generally considered one of the best
considerations presently available. The document anticipates acts that are likely to be
reprehensive and states measures to deal with those situations once they crop up.
Violations are dealt with swiftly and offending staff members are clearly given a level play
field to defend themselves after which if the Disciplinary Committee is not satisfied the
appropriate sanctions are swiftly applied.
At the Board of Directors Level, an Audit Committee supports the Audit Department to
ensure that the books of the Bank, employees’ financial dealings and other acts likely to
compromise integrity are nib in the bud. All these measures are in place to ensure the
rigorous adherence by team members to our code of ethics to which everyone has signed.
Outcomes
Measurement of (expected) outcomes and value added for our company
We are committed to the Anti Money Laundering Act passed in Ghana some two years ago.
Following from this, we have fully adopted Standard Bank Group’s money laundering
regulations. For instance staff will need clearance from a senior manager if the person
wants to deposit more than USD 500 into his or her account. The person will have to clearly
declare the source of the additional funds.
A clear policy on gifts and acceptance of gifts beyond a certain amount is been
implemented. The Code of Ethics states clearly what level or amount in terms of gift is
acceptable and at a certain point it has to be declared to senior managers for clearance.
Cash gifts are not acceptable at all.
Our Know Your Customer procedures are able to tell which customer is politically exposed
and thus is likely to receive illegal funds. We are unable to do business with such a person.
A Procurement Committee has been formed this year to handle all procurement matters in
the Bank.
How do you intend to make this COP available to your stakeholders?
The copy of the Communication of Progress 2008 report will be available on our corporate website.
Additionally, our clients, key customers and all staff will be handed both hard and soft copies of the
document to guide them in their dealings.