Buhari to the rescue: Tackling corruption in Africa’s largest economy

"The wind of change is blowing through this continent..." Perhaps reminiscent of the “Winds of Change” (the speech delivered in 1960 by British Prime Minister Harold Macmillan to the Parliament of South Africa in Cape Town), the recent address given by new Nigerian President Muhammadu Buhari at the United Nations represents a political milestone in seeking to eradicate … Continue reading Buhari to the rescue: Tackling corruption in Africa’s largest economy

“Apartheid stole the past, corruption steals our future” – South Africa protests graft

Wake-up call for Zuma government?  Unlikely as ANC battles crises on many fronts On September 30, 2015, several major South African cities saw a significant turnout of the Republic's denizens taking to the streets, protesting rampant perceived corruption in their country: demonstrations took place, inter alia, in Pretoria, Cape Town, Polokwane, and Durban.  They numbered in … Continue reading “Apartheid stole the past, corruption steals our future” – South Africa protests graft

French Authorities Investigate Top Political Advisor in Gabon

According to recent reports, French authorities are investigating one of Gabon President Ali Bongo’s closest political advisors, Maixent Accrombessi, in relation to an alleged bribe which Accrombessi accepted from French firm Marck. It is alleged that Marck’s chairman, Philippi Belin, who has been placed under formal investigation, paid Accrombessi a bribe in relation to Gabon’s … Continue reading French Authorities Investigate Top Political Advisor in Gabon

Increased anti-corruption enforcement across Africa?

Chimera or Reality -- Is Africa stepping up its anti-graft game? If one is to believe the media attention that has been bestowed upon anti-corruption enforcement by various African jurisdictions, there has been an uptick in successful anti-graft campaigns across the continent.  Or is there...?  Has Africa truly embraced the prosecution of well-to-do businessmen and … Continue reading Increased anti-corruption enforcement across Africa?

South African Government implicated in allegedly bribing FIFA for 2010 World Cup

It has recently been reported that the South African Government bribed FIFA officials to secure the 2010 World Cup. Following the arrest of seven FIFA officials in Switzerland recently, the US DOJ has alleged that the South African Government was directly involved in bribing FIFA officials to secure the 2010 World Cup. The Zuma administration in … Continue reading South African Government implicated in allegedly bribing FIFA for 2010 World Cup

Halliburton to Goodyear: FCPA risks and due diligence in foreign acquisitions

Averting their eyes from Africa: Goodyear's $16m Kenya/Angola settlement highlights risk of insufficient due diligence Andreas Stargard. "Foreign acquirers must understand and -- likely -- challenge the status quo of their new African subsidiaries" When acquiring an African company, nothing is "business as usual."  Neither pre- nor post-acquisition can foreign parent corporations simply avert their … Continue reading Halliburton to Goodyear: FCPA risks and due diligence in foreign acquisitions

Legislative Anti-Corruption Reference: South Africa

As reference for AAF's readership, below is a summary of the anti-corruption / anti-bribery / anti-fraud laws enacted in (or, in the case of international treaties, ratified by) the Republic of South Africa: - The Public Service Act, 1994 (Proclamation No. 103 of 1994) - The Public Protector Act, 1994 (Act No. 23 of 1994) … Continue reading Legislative Anti-Corruption Reference: South Africa

Perceived Corruption Hampers Asian Investment in Kenya

  Chinese Investors See East African Corruption As Hurdle to further Investments Welcome to 2015, AAF readers.  Our editors and staff are looking forward to a great New Year of providing you with news and insights into anti-corruption and fraud-prevention on the African continent. Our first story of the year hails from East Africa, when … Continue reading Perceived Corruption Hampers Asian Investment in Kenya

UK Targeting Oil, Gas & Logging: Great Britain implements EU Directive earlier than required

African "natural resource-rich countries" to be in particular focus of DirectiveThe government of the United Kingdom has announced earlier implementation of, inter alia, the anti-bribery provisions in the EU Accounting Directive than mandated by the European Commission (end of 2014, in lieu of the prescribed July 2015 deadline).  The Directive requires Member States to pass legislation … Continue reading UK Targeting Oil, Gas & Logging: Great Britain implements EU Directive earlier than required

Nigeria & South Africa: Two tales of anti-corruption enforcement

Nuhu Ribadu & the Scorpions: Setbacks and potential promises for anti-corruption efforts in Africa's two largest economies Two recent articles point to a convergence of missing or diminishing anti-corruption efforts in both South Africa and Nigeria. For one, Nigeria's former head of anti corruption Mr. Ribadu (whose high-provile 2012 report revealed that the country had … Continue reading Nigeria & South Africa: Two tales of anti-corruption enforcement