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

Corruption & instability scare away foreign direct investment in South Africa

Corruption & instability scare away foreign direct investment in South Africa Former ANC Treasurer and Mpumalanga premier Mathews Phosa has identified corruption, inconsistent government policies, and other factors as root causes of investors' growing reluctance to invest in South Africa. The Mail & Guardian's Adam Wakefield reports that Mr. Phosa, who speaks nine languages and … Continue reading Corruption & instability scare away foreign direct investment in South Africa

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