Anti-Bribery and Corruption
Policy Statement
The gold resources of the country and support generate foreign exchange. This is done in a responsible and ethical manner to drive transformation for the country. We have a zero-tolerance approach to any form of Bribery or Improper Payments (as defined below). This Policy applies to all Employees and management of our company, including directors and contracted staff (collectively, “Employees”), as well as any Third Parties (as defined below). The Goldbod is strongly committed to the highest standards of business ethics and compliance. Our Code of Conduct can be zeroed down to one line: xxxxxxxxxxx.
Definitions
Bribery
The offering, promising, giving, or receiving of anything of value to or from another person, made directly or indirectly, with the intent to induce such person to act improperly in the performance of his/her duties (i.e., bribery).
Employee
Direct employees of our company and/or employees from all entities that we operate with, owns or controls, including directors and contracted staff.
Third Party
Any Third-Party Intermediary (“TPI”), Our Business Partner, Agents, or Other Supplier, consultant, and any other individual with whom we interact.
Supplier
Any supplier, aggregator, vendor, contractor, distributor, consultant, and/or other Third-Party providing goods, services, and supplies (including software) to support our operations.
TPI
A Third Party that interfaces on our behalf, indirectly or directly, with Government Officials (such as Suppliers, consultants, and other service providers).
Business Partner
A Third Party that we have an investment or business arrangement with, such as a joint venture, local partnership, or other joint business activity where the Business Partner may interact with Government Officials on our behalf, indirectly or directly.
Family Member or Close Relative
An Employee or Third Party’s spouse, domestic partner, parents, children, siblings (or their spouses or domestic partners), relatives living in the same household as the Employee or Third Party, or persons with whom the Employee or Third Party has a close personal relationship.
Merger, Acquisition, and Divestment
A transaction involving us and at least one other company, such as a merger, acquisition, consolidation, purchase of assets, and management acquisition.
Government Official
A public official is defined, as:
- “An individual holding legislative, administrative or judicial posts or anyone carrying out a public function or an official or agent of a public international organization.”
- Any person acting in an official capacity for or on behalf of any such foreign or local/municipal/ Regional government, department, agency, instrumentality, or entity.
- Any director, officer, or employee of any public international organization, such as the United Nations or World Bank.
- Any officer or employee of any political party or affiliation; and
- Any candidate for political office.
Government and Politically Affiliated Entity
Includes but is not limited to:
- Any government department, agency, ministry, instrumentality, or entity, whether federal, state, or municipal, including the administrative, judicial, and legislative bodies.
- Any political party or political campaign.
- Any state-owned or state-controlled department, company, corporation, partnership, enterprise, public institution, or civil association.
- Any public international organization, such as the United Nations, the World Bank, and the International Monetary Fund; and
- Any recognized traditional or tribal council, governing body, or authority, or any recognized traditional or royal family
Improper Payment
The giving or receiving of inducements or anything of value, for any reason, to:
- Influence someone’s judgement about our company.
- Gain an improper advantage when trading, or representing our company’s interests; or
- Influence the use of discretionary authority by any Government Official.
Improper Payments include:
- Bribery
- Paying for something beyond the Company’s legal right, or to which the Company is not legitimately entitled.
- Improper donations, sponsorships, or contributions of our funds or assets to political parties or their leaders or candidates for public office.
- Direct or indirect payments in any form, including gifts, travel, offers of employment, or reimbursement to Employees or Third Parties for donations, sponsorships, or payments they might personally have made.
General Principles
We do what is right for the right reason and are a force for positive change. We are committed to maintaining the highest ethical standards and preventing corrupt practices in all business transactions. Our Employees, TPs, and Business Partners must comply with all local anti-corruption laws wherever we operate.
Offering or Accepting Improper Payments
Our employees may not receive, offer, promise to pay, pay, or authorize Improper Payments to any individual, including Government Officials, with the intent to obtain or retain business, secure an improper advantage, or influence Government Official actions or decisions. We cannot request, accept, or agree to accept anything of value if the item is intended or appears to be intended to gain an improper business advantage.
We prohibit improper payments made directly or indirectly from employees or through third parties, business Partners or Consultants. We could face liability based upon Improper Payments made through TPs, Business Partners, or consultants.
To mitigate this risk, we require written agreements pre-approved by Compliance Department with all TPIs and Business Partners acting on behalf of the Company. We conduct reasonable, risk-based due diligence on all TPI, Consultants and Business Partners acting on our behalf.
Facilitating and Extortion Payments
Facilitating or “grease” payments are payments made to Government Officials to expedite performance of routine, non-discretionary government actions to which we are legally entitled. We strictly prohibit facilitating payments. Employees who receive a request from a Government Official for a facilitating payment must immediately contact the Compliance Department.
Extortion payments are payments where Employees reasonably believe their immediate personal safety or health is in danger if they do not make the payment. Extortion payments are not facilitating payments.
The safety of our Employees (and anyone working on our behalf) is our number one priority. Although circumstances may require making such payments, Employees or anyone working on our behalf must properly document and record any such extortion payments in the Company’s books and records.
Business Hospitality and Other Expenses
The exchange of business gifts, meals, and hospitality is an acceptable and customary part of conducting business and building relationships. Employees are prohibited from offering gifts, meals, or other business hospitality in exchange for any improper benefit. We prohibit Employees from giving or receiving Gifts, other than Gadgets of nominal value, on our behalf or as part of their employment with us.
Under exceptional circumstances, Employees may make a formal request to the Managing Director prior to giving or receiving a Gift. Under such circumstances, the Employee may give or receive the Gift only after obtaining written approval from the Head of Legal and Managing Director. In general, our employees may give or receive a hospitality only if:
- It is reasonable and proportionate in expense.
- It promotes our business or capabilities (such as a pen with giving company’s logo on it).
- It is consistent with generally accepted business practices in accordance with local customs and local law.
- It does not go against our values and ethical standards; and
- It was not solicited or requested.
Prior to offering or accepting a hospitality, we must ensure there is a clear business purpose, and an outside party could not interpret the hospitality as an attempt to improperly influence a decision or gain an improper business advantage.
Our interactions with Government Officials carry greater risk because of their potential influence over official actions. Employees must obtain prior, written approval from the Compliance Board before offering to provide or providing any hospitality or other expense to Government Officials. We will not pay for the travel expenses of a Government Official’s family members or side trips unrelated to our business.
Political Contribution
We are politically neutral, not directly or indirectly affiliated with any political party and does not provide services linked to any political messages.
Political contributions may pose corruption risk and invite the perception that we are attempting to improperly influence Government Officials.
For this reason, Employees may not contribute Company funds, time, or assets to political parties or candidates for political office. We prohibit Employees from making or approving political contributions on our behalf or as a representative of the Company, regardless of level of authority.
Consistent with the Code of Conduct and the Sponsorships & Donations Policy, Employees must make clear that any political activity reflects an Employee’s individual beliefs and not those of the business.
Sponsorships and Donations
We are committed to responsibly supporting and improving the communities and environments in which we work.
However, Sponsorships and donations must be made with a legitimate purpose and may not be used to conceal bribes.
