Key Nigerian ministerial positions announced, with long delay The swearing-in of Nigeria’s new members of President Muhammadu Buhari’s cabinet took place in his villa in Abuja, notably after an almost six-month delay (hence the popular moniker for the new leader, “Baba Go Slow”). As Andreas Stargard, a director with African anti-corruption advisors Pr1merio, points out, … Continue reading New cabinet positions announced, but no anti-corruption minister in sight
Fraud, corruption and the MTN fine
Fraud, corruption and the $5 billion MTN fine By Michael Currie MTN, Africa’s largest mobile network is reeling after a the Nigerian Communications Commission (NCC) fined the company USD $5.2 billion for failing to disconnect approximately 5.1 million customers from unregistered phone cards. The NCC calculated the fine by fining MTN USD $1,001 for each … Continue reading Fraud, corruption and the MTN fine
How a Billionaire Changed Corrupt Government: Dangote vs. Mugabe
Did a Nigerian CEO single-handedly wipe out source of Zimbabwean 'indigenisation' corruption? The Zimbabwean economy has been struggling hard under the regime of President Robert Mugabe for years, having contracted as much as 40-50% and suffering from galloping inflation rates of over 79 billion % (so-called hyper-inflation, which is exceedingly rare today). This has, in turn, led to … Continue reading How a Billionaire Changed Corrupt Government: Dangote vs. Mugabe
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
Anti-Fraud & Corruption Law in Africa 