Guest Speaker for the ceremony, Dr Ishmael  Yamson,  a seasoned Economist, said that the right practice of procurement and supply results in success. He urged all practitioners to understand the critical role they play in shaping the destiny of businesses. He described procurement and supply as the nerve center of efforts to either create value or destroy value.

He added that Ghana passed the Procurement Act 2006; ACT 663 due to the centrality of the issue of procurement in contributing to national  development. He said the Act also harmonizes the process of public procurement in the public service, ensures judicious use of government resources  in a  fair and laudable manner.

Dr Yamson said that sourcing and procurement are at the fore-front of every  business  not only to optimize efficiency but also create competitiveness. He said that the procurement process in Ghana has become a source of worry especially where there is the idea that public procurement officers must be bribed.

He, however, acknowledged that the Procurement Act makes the job  difficult and risky and advised against the appointment of procurement officials on partisan politics basis by  any government in power.

He advised private procurement officials to be resolute in the practice and avoid accepting bribes as well. Mr Basil Ahiable, GIPS Council Chairman and an inductee into the Fellow Membership of GIPS said that the institute was revived after complaints by members of a lack of a voice to defend the profession after being affected by many scandals. He said that the event is a culmination of hard-work and dedication by its council and interim committee with active support from the Public Procurement Authority, and other key stakeholders.

He noted that the council will work with a consultant to draft a bill to legislate the practice of procurement and supply management in Ghana.  He added that when the bill is ready, they will work together with the Public Procurement Authority (PPA) and parliament to ensure it is passed into a law to help reduce breaches in the practice of the profession.

Mr Ahiable urged colleagues of the institution to work professionally and ethically to defend the profession. He asked them to upgrade their professional skills and to also offer support and advice. "A legislated profession will help employ qualified professionals while recalcitrant members will have their licenses revoked" he stated.

President of the Institute, Mr Collins Agyemang Sarpong said that they are dedicated to ensuring high standards of integrity and probity in respect of procurement and supply management practice. He said in light of this, the Institute launched its Code of Ethics in November 2018. Members, according to Mr Sarpong, are expected to live and maintain high standards of integrity in relation to performing their duties which offer benefits to their organisations and the country.

He highlighted the achievements of their interim executives which include a fully functional office, the recently launched Code of Ethics, a Professional Journal and a draft academic curriculum due to be launched. He added that they are positioned to become the standard organisation for procurement professionals, practitioners and students of procurement and supply  management in Ghana.

Nine members were inducted as new fellows, forty-seven as full members and sixty-one as associate members.