Vodacom Group is a subsidiary of the multinational Vodafone and we have aligned purchasing processes and practises across the Vodacom and Vodafone territories in which the companies operate. Vodacom makes use of the services of the Vodafone Procurement Company (VPC) who has relationships with a network of global suppliers as well as certain local suppliers.
Through this we benefit from economies of the scale and scope of purchasing activities across the Vodafone Group and are able to work closely with suppliers to tackle issues of human rights, fair labour practices, environmental protection, energy, climate change, health, safety and sustainability in our supply chain. We demand high ethical, health and safety, social and environmental standards of all our suppliers and we work with our suppliers to achieve and improve adherence and performance through continuous monitoring, assessments and engagements. These standards are set out in our Code of Ethical Purchasing.
The health and safety of our employees and suppliers is of utmost importance to us and is key to ensuring a responsible and sustainable business. We have various initiatives that address protecting the health and safety of employees and suppliers at work including adherence to Vodacom's Absolute Rules regarding Occupational Health and Safety. More information on these initiatives can be found in the Human Capital Report and Stakeholder report.
In South Africa, Broad Based Black Economic Empowerment (BBBEE) is a key requirement for corporates and guides the decisions we take in responsible sourcing and preferential procurement. Our Small, Medium and Micro Enterprise (SMME) preferential payment term policy is contributing further to ensuring that we remain fair to our smaller suppliers.
In addition, the Vodacom Code of Conduct clearly outlines Vodacom's zero tolerance to any form of bribery. Our anti-bribery policy sets out examples of conduct that could amount to an offence under anti-bribery laws.
All suppliers are required to endorse these codes and policies before commencement of work at Vodacom. Visit Vodafone for more information on the global outlook.