There can be little doubt that corruption impedes the efficient use of government revenue, discourages private investment and negatively impacts inclusive growth and development. In Africa, as elsewhere, the social and political consequences of corruption rob nations of their potential and drive inequality and resentment.
For its part, NSE is firmly committed to the notion that the citizens of Africa deserve full transparency in the procurement and implementation of critical basic services, including power generation, and maintains zero tolerance with respect to all aspects of bribery and corruption. We are determined to act with the highest levels of integrity, and have implemented a number of policies and procedures to ensure that our employees, and those that we do business with, behave legally and ethically at all times.
Anti-Bribery & Corruption and Anti-Money Laundering Policies
NSE is devoted to combating bribery and corruption, and has implemented an Anti-Bribery & Corruption Policy that fully complies with the UK Bribery Act of 2010. We are equally committed to participating in international efforts to combat money laundering and terrorist financing, and have developed, in compliance with international and local regulations and legislation, our own Anti-Money Laundering Policy. All of our staff are required to undergo regular anti-corruption and anti-money laundering training.
Fully Transparent Procurement Policy
NSE has developed and adopted its own Procurement Policy designed to address the specific challenges surrounding the markets in which we do business. This policy, governed by our Procurement Committee, ensures that a formal and transparent process is carefully observed when projects are selected and implemented, and for the appointment of consultants, contractors and other third parties.
Risk-Based Know Your Customer Procedures
We have developed our own Know Your Customer (“KYC”) Procedures to ensure that none of our employees, consultants, counterparties or investors are employed or retained unless their identities have been diligently identified and verified. These procedures employ a risk-based approach that categorises the relevant person or entity as either low, medium, or high risk, and applies corresponding KYC measures and monitoring methods.
Corporate Social Responsibility Policy
NSE recognises the importance of a Corporate Social Responsibility (“CSR”) process that incorporates transparency, fairness, accountability, and integrity – all of which are fundamental to the way we conduct our business. Our CSR program and initiatives are designed to be relevant to the nature and scale of our business, and to protect and reinforce the company’s reputation and integrity. NSE’s CSR Policy ensures that best practice is observed in all relevant areas, including our approach to the people we employ, the projects we invest in, and the discharging of our environmental and social obligations.