hse, business strategy tool for developing markets: a focus on the west-africa sub-region presented...
TRANSCRIPT
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HSE, Business Strategy Tool for Developing Markets: A Focus on the
West-Africa Sub-RegionPresented by:
Alabi Olubunmi
at the WASHEQ 2013 Conference
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BackgroundWest Africa Economic OutlookHas some of the fastest growing economies in
the worldEstimated growth rate of 6.7% in 2013 and
7.4% by 2014It provides a myriad of opportunities for
Foreign Direct Investments (FDI’s)Economic barriers include Infrastructure,
insecurity and salient issues like HSE, affecting its competitiveness
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Background Contd....Current Sub-Regional HSE TrendLack of regulator framework and legislationsLack statistics which could form the bedrock
for implementing regulatory controls, identify high risk sectors and setting objectives and targets
In Sub-Sahara-Africa, which includes the sub-region, about 54,000 fatalities occur annually with 42 million accidents.
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Background Contd....Gas flaring and GHG emission are still on the
highPollution and spills are not accurately
prosecuted and accounted forThere are no proper plans for Climate
Change Mitigation and Adaptation
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Economic Importance of the Sub-RegionNatural Resource includes;Land for subsistence farming and cash crop
production including cocoa, rubber and timber
Major player in the Oil and Gas global market with new reserves increasingly discovered
Large deposits of solid minerals like Diamonds in Sierra-Leone, Gold in Mali, Ghana and Guinea
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Economic Importance of the Sub-Region contd....Human Capital ResourcesIt has a population of over 245 million peopleSome of the brightest minds in the continent
are from the regionYet about 40% of the adult workforce is
illiterate And over 80% are exposed to the risk of
accident at work
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Challenges to HSE in the Sub-RegionProper Regulatory Framework and ComplianceThere are no regulatory or compliance
mechanismNo regulatory body to supervise and monitor
businesses within member statesLack of records keeping and inability to
benchmark data with other regionsLittle or no penalty for non-compliance
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Challenges to HSE in the Sub-Region contd....Education, Training and AwarenessHuge population with high illiteracy rateLittle knowledge of HSE hazardsCultural belief that accidents are part of
normal work lifeShort term focus of meeting daily needs
which take precedence over safe work environment
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Challenges to HSE in the Sub-Region contd....Leadership and Corporate CommitmentThere is little or no meeting point between
business and HSEBusinesses align themselves with productivity
and profit as HSE is perceived as luxuryHSE is not viewed as strategic enabler to
business sustainability
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Challenges to HSE in the Sub-Region contd....Life Cycle Approach to HSE in Business Plans
and ProcessesLack of incorporation of HSE into business
plans, processes and programmesHSE should be in all phases of business from
conception of an Idea through the design phase to commissioning and decommissioning
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Qualitative Analysis of HSE in the Sub-RegionThere are no statistical numbers to back
quantitative analysisBest and Brightest hands are more willing to
work for HSE compliant companiesRecent surveys reveals some of the best
companies to work for are Multi-Nationals and indigenous firms that adopt global best practices
Global Best Practices in this regards, refer to Sustainability
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Counting the CostLoss of Investment OpportunitiesInability to attract investment from Fortune
500 companiesAlso agencies like IFC are less willing to
borrow businesses in regions with little or no HSE framework or compliance
In Nigeria for instance with the Central Bank’s initiation of the Sustainable Banking Principle, businesses access to funds would become more stringent.
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Counting the Cost contd.....Drop in GDPA decline in investment would surely lower
the sub-region’s GDPRefusal of other markets to take products
from the sub-regionConsequent lowered productivity is
experienced
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Counting the Cost contd.....Inability to Break into New MarketsLoss of new markets as a result of the
inability to meet GMP requirementsHSE is a prerequisite in most countries to
gain access into their markets
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Counting the Cost contd....Flight of Bright /Talented MindsIndigenous bright/talented minds are seen to
move to regions where HSE is at the cornerstone of business
This would affect human capital mobilization and retention
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Looking ForwardRegional and State Government’s CommitmentRegulatory framework should be design and
implementedSet-up regulatory bodiesEnsure complianceLead by example
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Looking Forward contd....Businesses Adopting Global Best PracticesAdopting HSE practices into the life cycle of
its plan, programmes and processesUse of efficient and cost effective HSE
methodologies Business Case to investors should highlight
its HSE objectives and targets
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Looking Forward contd....NGO’s and HSE Consultant ParticipationOrganisation of ConferencesHSE awareness amongst the public especially
through campaigns, media outreach like radio talks
Collaboration of Governments, Businesses, Associations and Consultants to develop sectoral guidance
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Benefit of HSE to the Sub-RegionSustain Business Development and Regional
Sustained Economic GrowthIt would increase sub-regional
productivityMake businesses more sustainableHelp harness sub-regions potential
especially in less attractive sectorsWould increase sub-region’s GDP
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Benefits of HSE to the Sub-Region Contd.... Retention and Attraction of Best TalentsWould help keep indigenous talentsForeign Expatriate and West-Africans in
Diaspora would be willing to come back to help grow the sub-region
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Benefits of HSE to the Sub-Region Contd....Breaking into New MarketsBusinesses in the sub-region would easily
break into new marketsThe would be a soar in foreign exchange in
the regionForeign businesses would be willing to
relocate to the region
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Benefits of HSE to the Sub-Region Contd....Enhancement of its ReputationIt would rank the sub-region highly amongst
international bodies like ILOWin the confidence of varied stakeholderIt would place the region amongst the
strongest economic regions in the league of nations
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Benefits of HSE to the Sub-Region Contd....Other plus include a stronger, healthier,
motivated and well enlightened workforceAlso litigation and business closure would be
greatly reduced
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Conclusion Looking forward HSE has to be addressed
like other business aspects and should be emplaced in the very heart of business plans and processes.
Proactive measures would help safety grow in the sub-region adding value and setting precedents would bring bout the recognition that safety requires in the sub-region
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Thank you!!!!
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Any Questions?