Editor culture of compliance, FATF, South Africa

Who Owns What? Mandatory publication of companies’ beneficial owners in RSA

The CIPC's new beneficial owner registry: An effective mechanism to combat illicit flow of funds or another wasted opportunity? By Jemma Muller and Nicola Taljaard, Primerio On 1 March 2023, the South African Companies and Intellectual Property Commission (“CIPC”) announced its plan to establish a register of beneficial ownership (“BO”), which would be implemented upon … Continue reading Who Owns What? Mandatory publication of companies’ beneficial owners in RSA

Editor culture of compliance, ECONafrica, FATF, Full Article, outside investment, politics, public sector corruption, South Africa

Greyed-Out by FATF: South Africa officially placed on the grey-list; where to from here?

By Jemma Muller and Tyla Lee Coertzen Despite the noteworthy progress South Africa has made in response to the deficiencies identified in the Financial Action Task Force’s (“FATF”) Mutual Evaluation Report released in June 2021, the FATF placed South Africa on the ‘grey-list’ on 24 February 2023. In order to understand the consequences of being … Continue reading Greyed-Out by FATF: South Africa officially placed on the grey-list; where to from here?

Editor cooperation / coordination, culture of compliance, double standard, ECONafrica, event / seminar / conference, money laundering, quote of the day, UK, West Africa

Slow Crawl On Corruption

A long walk to freedom need not mean a slow crawl on combating corrupt government BY PETER O’BRIEN* The recent (May 12) London Summit on Anti-Corruption resulted in another small step in the right direction. About 40 countries were represented, along with a number of international sports associations and similar bodies that have come under … Continue reading Slow Crawl On Corruption

Editor culture of compliance, ECONafrica, outside investment, United Nations

Understanding the Context: AAF reviews U.N. Report “Measuring Corruption In Africa”

Understanding the Context: AAF’s Review of the U.N. Report entitled “Measuring Corruption In Africa: The International Dimension Matters”, by the United Nations Economic Commission For Africa, March 2016   By Peter O’Brien* Economics and politics experience fashion changes at a pace that makes clothes designers envious. And, like the designers garments, some of “today’s problems” … Continue reading Understanding the Context: AAF reviews U.N. Report “Measuring Corruption In Africa”

Editor cooperation / coordination, culture of compliance, Minister, Nigeria, outside investment, politics, West Africa

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

andreasstargard culture of compliance, East Africa, enforcement, event / seminar / conference, FCPA, Kenya, outside investment, USA

“Just a math issue”: Anti-Corruption Efforts in Kenya take Center-Stage for Obama

Anti-Corruption Efforts will Require some "Visible Prosecutions" President Obama opined that it was "absolutely the right thing to do for President Kenyatta [to] emphasize" the Kenyan government's stepped-up anti-corruption efforts.  He called public corruption potentially "the biggest impediment to Kenya growing even faster." "Just a math issue" Business efforts being "constantly sapped" was a real … Continue reading “Just a math issue”: Anti-Corruption Efforts in Kenya take Center-Stage for Obama

andreasstargard compliance, culture of compliance, enforcement, survey

In sync with greater enforcement: Firms’ compliance budgets grow

CCOs say that with more investigations comes (slightly) more money According to a recent survey, the budgets allocated to compliance have grown over the last year, including those of African participants in the study.  Consulting giant Deloitte has released its 2015 Compliance Trends report, the result of its survey in which 20 large corporations across … Continue reading In sync with greater enforcement: Firms’ compliance budgets grow

Editor compliance, culture of compliance, DOJ, East Africa, enforcement, Kenya, politics, South Africa

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?