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
FT investigative exposé shows hidden economic China-Africa ties
In the shadows of official state-level Sino-African "cooperation" lies a vast swath of hidden quasi-official dealings, with multi-million bribes in the offingThe Financial Times report by Tom Burgis on the dealings of Sam Pa (one of his 7+ pseudonyms) is highly instructive and recommended to AAF's readership. Link to "China in Africa: how Sam Pa … Continue reading FT investigative exposé shows hidden economic China-Africa ties
Concerns over FCPA & bribery issues prevent African expansion
Misconceptions of real risk limits outside investment in Africa This headline from today's Wall Street Journal captured our attention: "FCPA Fears Hinder U.S. Companies Considering Africa"! It is an interview by Ben DiPietro of Aubrey Hruby, visiting fellow at the Africa Center / Atlantic Council. Ms. Hruby's key insight shared in the interview is - while … Continue reading Concerns over FCPA & bribery issues prevent African expansion
On trial: Laundering gold-smuggling cash
S. African Free State: Gold smuggling and money laundering case closes The State has closed its case in the Free State High Court in a matter relating to 133 charges of racketeering, gold smuggling, the unlawful processing of gold and money-laundering of nearly approximately R10 billion. The State lead its case for nearly 100 court … Continue reading On trial: Laundering gold-smuggling cash
FCPA investigation hits FedEx in Kenya
Kenya and FedEx: Possible breach of FCPA anti-bribery provision According to Wall Street Journal and Law360 reports, two powerhouses (one country, one company) are involved in a recent self-reported FCPA violation: FedEx Corporation has reported possible infractions of the foreign anti-bribery law in Kenya to the United States Department of Justice. According to the … Continue reading FCPA investigation hits FedEx in Kenya
Survey shows perception gap and increased corruption
Survey shows that perception of corruption & bribery on the rise As also reported by BDLive's Evan Pickworth, a recent Ernst & Young survey shows that the perception of widespread bribery and corruption by South African executives has increased climbed by 16% to an overall 78% response. The article mentions the "high-profile regulatory enforcement [that] … Continue reading Survey shows perception gap and increased corruption
Housing tender fraud in eThekwini (RDP / South Africa)
South Africa: RDP housing tender fraud in eThekwini In order to cease complaints and reports of corruption, the eThekwini municipality will stop using section 36 of the Municipal Finance Management Act to award emergency tenders. The municipality has tabled a budget of R35.8 billion for the new financial year, of which R3.7 billion will be … Continue reading Housing tender fraud in eThekwini (RDP / South Africa)
Fraud in the medical schemes industry
South Africa: Fraud in the medical schemes industry Discovery Health’s CEO, Dr Jonathan Broomberg, has estimated that fraud in the medical schemes industry will cost South Africa between R8.22 billion and R43.2 billion. Various types of fraud have been flagged recently, such as “card farming”, in which medical members allowed other non-members to be treated … Continue reading Fraud in the medical schemes industry
Anti-Fraud & Corruption Law in Africa 