Tag: bribery

There is a rare opportunity to right a lot of South Africa’s wrongs in one go. Corruption and unemployment are two major roadblocks. Permit me to explain how they can be simultaneously addressed within the current administration. I suggest an amnesty largely on the African National Congress (ANC’s) past wrongdoing in office in return for liberalisation of labour laws. This may be for a bit further down the line.

What are the legal implications for international oil companies (IOCs) operating in host countries where supplier due diligence is a challenge? The short answer to the question is that IOCs face ever increasing legal risk.

In October 2015, the Gupta brothers offered Mcebisi Jonas the position of minister of finance in exchange for R600 million. Then deputy minister of finance, Jonas turned down the bribe and a period of deep introspection followed for him.

Corruption is a reality throughout the world. For any organisation, the financial and reputational risks that follow incidents of corrupt activity can be quite severe.

Africa has a higher percentage of companies affected by fraud, theft, money laundering or other financial crimes than the global average, according to one of the most comprehensive surveys of international business to date. Thomson Reuters commissioned the survey of more than 2,300 senior business leaders in large companies to shine a light on how pervasive such crimes have become across the world.

On a worldwide basis, criminal activity in the workplace - detected or undetected - is at an all-time high. Fraud, corruption and other forms...