Mr Collins Agyemang Sarpong, the President of the Ghana Institute of Procurement and Supply, at the launch on Tuesday, said the document would serve as a self-regulatory framework, which would strictly be adhered to, to help achieve the value that ethical procurement and supply brought to the strategic growth of corporate organization and the country’s economy.

He said the document, was anchored on four main pillars to among other things, create the right environment to ensure competitiveness and value for money.

It would also ensure fair and transparent outcomes for all procurement processes, adherence to the effective operation and application of organisations, as well as client’s procurement policies and operating procedures, while preventing financial losses to the state and businesses.

Mr Sarpong said the document was developed to help all procurement and supply professionals and practitioners in both public and private entities to live and maintain a high standard of integrity, and probity to the benefit of their organisations and the nation at large.

GIPS, he said, expected all members and practitioners, to act responsibly and within authority, use the whistle blowing mechanism, comply with laws and regulations, reject bribery, corruption and financial loss to the state, and treat suppliers, contractors and consultants fairly, he said.

According to him the institute was currently saddled with numerous procurement and supply challenges, which has succeeded in denting the reputation of the profession.

However, despite initial challenges and relative lack of support, the institute had made significant progress in the last twelve months, and was now positioned to become the defacto local body for professionals, practitioners and students of the procurement and supply in Ghana, he said.

Mr. Sarpong said the Institute, had currently positioned itself as the mouthpiece for excellence in procurement and supply performance, with the vision to assist its members in public and private sector organisations to achieve value for money, promote high standards of integrity and probity in respect to their management practices.

He maintained that irrespective of the level of disruption within the procurement and supply profession, the core mandate has not changed and should be sustained as such.

He said “we may have our individual organizations, associations and group’s code of conduct but this is the first of its kind: to have a countrywide approach to Code of Ethics with our country’s intrinsic cultural values and beliefs which is much needed to help solve our peculiar problems in  procurement and supply practice in Ghana”.

He therefore called on all who were involved in procurement and supply to join GIPS to establish and maintain the code of ethics, in order to achieve the desired benefit.

Mr Agyenim Boateng Adjei, the Chief Executive of the Public Procurement Authority, said considering the enormous rule public procurement played in the socio-economic development of countries, it was instructive that the profession be given due recognition in Ghana.

He said this would enable it to play its strategic role through value addition and risk mitigation that would impact positively on the economy.

He encouraged all procurement professionals and practitioners to be guided by the provisions of the document, and conduct their activities in a transparent, judicious and non-discriminatory manner to achieve value for money.