Procurement Policy

The Board of Directors has adopted a procurement and vendor management policy that protects the company against the risks of direct financial loss, reputational damage and adverse customer impact that may arise from poor supplier management processes. Through the policy, the Board advocates for uniformity, professionalism and transparency in the management of purchasing and supply activities within the context of CBA corporate policies.

The Group procurement policy includes procurement standards which are the basis for setting targets against which the procurement process as well as suppliers’ performance are measured. Further, the Group has incorporated procurement ethics to ensure that decisions are made in a fair, professional and transparent manner in order to reduce any possible conflict of interest during the execution of the procurement process and ensure confidentiality of information at all times.