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?
U.S. seeks to counter Russian influence in Africa
Currently pending in the United States Congress, specifically referred from the House of Representatives to the Senate as of today, is the so-called "Countering Malign Russian Activities in Africa Act" (H.R. 7311), which passed the House with 415 to 9 votes. The proposed law, which would require the Department of State to furnish an annual … Continue reading U.S. seeks to counter Russian influence in Africa
Zambia’s “New Kids” Clean House: Internal Corruption Worse than Previously Feared
New Zambian leadership inherits “empty treasury” After six failed attempts at becoming president, Mr. Hakainde Hichilema finally was sworn in as Zambia’s leader a week ago, representing the United Party for National Development. His new budget for the coming years is expected before month's end, but there are significant roadblocks ahead, partly due to alleged … Continue reading Zambia’s “New Kids” Clean House: Internal Corruption Worse than Previously Feared
Och-Ziff’s African (formerly lucrative) nightmare
Och-Ziff Capital Management Admits To Role In Africa Bribery Conspiracies And Agrees To Pay $213 Million Criminal Fine From the U.S. Attorney’s Office for the Eastern District of New York: "Och-Ziff Enters into 3-Year Deferred Prosecution Agreement; Och-Ziff Subsidiary Pleads Guilty to Conspiracy to Violate the FCPA" BROOKLYN, NY – The U.S. Attorney’s Office for … Continue reading Och-Ziff’s African (formerly lucrative) nightmare
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”
$1 billion per year lost to corruption: a Nigerian saga
$1 billion per year lost to corruption Recently, AAF reported on the multi-faceted PR efforts of the new Buhari regime to clean up the soiled image of "corrupt Nigerian politics" -- among other things, by staging photo ops with World Bank leaders, charging former government officials with bribery, and moving ahead on basic appointments. Today, … Continue reading $1 billion per year lost to corruption: a Nigerian saga
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
“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
The necessity of strong regional regulatory oversight on infrastructure projects in Africa
The necessity of strong regional regulatory oversight on infrastructure projects in Africa By Roger Tafotie Dr. Tafotie is a Pr1merio advisor with a legal & business focus on both African and European markets. A member of the Luxembourg Bar, he is also a lecturer in law at the University of Luxembourg. His focus areas include … Continue reading The necessity of strong regional regulatory oversight on infrastructure projects in Africa
Anti-Fraud & Corruption Law in Africa 