AfDB receives Prestigious Procurement Award

498 0

For a successful development in its corporate procurement processes, the African Development Bank has been recognized for procurement excellence by the Chartered Institute of Procurement & Supply (CIPS), the world’s largest professional body for procurement and supply management professionals, with offices all over the world including Africa.

Positively, the Bank was awarded a silver award at advanced standard level following the CIPS Procurement Excellence Programme, for successful achievement in its corporate procurement processes from an operational focus to managerial and strategic, building performance, capability and value.

It was stated that, the bank was the first multilateral development bank in the world to receive this recognition.

Vice President for Corporate Services and Human Resources at the Bank, Mateus Magala said, “Winning this globally-recognised award is welcome news and we are delighted to be commended for demonstrating advanced levels of corporate procurement capability.”

Hence, the Bank reiterated that, it ensures that special attention is paid to economy and efficiency in its procurement processes, both internally and externally across bank-funded projects. Transparency and open competitive procedures for procurement of goods, works and services are also essential.

The Bank has been proactive in enhancing its corporate procurement processes and pinpointing the procurement department’s role as a fundamental activity in its strategic operations.

“We have made significant progress in improving corporate procurement performance to catalyse the Bank’s efforts in achieving sustainable development and poverty reduction on the continent,” Magala added.

Head of Procurement Excellence Alan Martin expressed his excitement concerning the award: “Sincere congratulations for achieving the CIPS Procurement Excellence Award at advanced standard silver level. It’s clear that the Bank has the right procurement governance mechanisms in place for effective supply assurance and compliance. We hope the Bank will continue to effect change while adding value from procurement processes.”

The CIPS Procurement Excellence Programme is an in-depth benchmarking process measuring an organisation’s procurement function against CIPS world-class standards of excellence and its global framework. It is a globally recognised programme for performance improvement, and more than 300 organisations worldwide have achieved an award after completing it.

The programme works by reviewing an organisation’s procurement and supplier management procedures and highlighting where improvements and efficiencies can be made. 

In addition, there are five ‘dimensions’ under assessment common to every business, regardless of sector or market: leadership and management, strategy and policy, people, processes and systems, and performance management.



Related Post