The World Bank has revoked the sanction it placed on Ghanaian company, Zoomlion Ghana Limited and its affiliates. This was after the World Bank Groups Integrity Compliance Office Washington DC informed Zoomlion that they have satisfied the conditions of its Corporate Compliance Programme hence the clearance. This was revealed by the Executive Chairman and Founder of Zoomlion Ghana Limited, Dr Joseph Siaw Agyepong.
Dr Joseph Siaw Agyepong said the Corporate Compliance Programme has brought about effective checks and balances through the introduction of corporate code of ethics and integrity policies and procedures which now which he said remain “a seal of all our operations across Africa and the International community.” According to Dr Agyepong, it is a characteristic of most company’s all over the world to face trials, but it is the structures and systems such companies put in place that determine whether or not they will survive.
“One of the world’s greatest human rights activist Martin Luther King Jr once said the ultimate measure of a man is not where he stands in moments of comfort, but where he stands in times of challenges and controversy,” Dr. Agyepong said adding that “Zoomlion’s resolve to overcome the challenge is what has brought us this pleasant outcome. The company took the right steps and thankfully it has paid off.” “I am eternally grateful to God, the selfless and dedicated management and staff of Zoomlion, the Government and people of Ghana and all our well-wishers for their support during the difficult times,” the Executive Chairman added.
Background
The World Bank earlier blacklisted the Ghanaian company for allegedly indulging in fraud and corruption, whilst executing some of its flagship projects in Africa. In a statement published on its website the World bank noted that Zoomlion and its affiliates mentioned in the report, are ineligible to be awarded a World Bank-financed contract for the periods ranging from September 23, 2013, to September 23, 2015.
Source – Citifm
