Tag Archives: Corruption

Corruption: Latest News

  • ‘This Is Huge’: Nigeria Seizes Africa’s Richest Oilfield From Shell, Eni In Corruption Investigation

    Shell, Eni in corruption investigation By Dana Sanchez, 12:54 pm

    A Nigerian court has ordered petroleum giants Shell and Eni to temporarily forfeit assets and control of a massive, long-disputed oilfield to the government. The OPL 245 bloc is considered the richest in Africa — big enough to provide all Nigeria’s oil production needs for 11 years. Shell and Eni bought the bloc in 2011 for $1.2 billion knowing it was a fraudulent transaction, the petition said. The government is investigating conspiracy, bribery, official corruption and money laundering. “Generations of Nigerians have been robbed of life-saving services while oil men have grown rich at their expense,” an anti-corruption NGO said.

  • Chinese Ivory Sales Help Fuel World’s 4th Largest Crime Sector

    Chinese ivory sales By Global Risk Insights, 12:51 pm

    Wildlife tourism represents 80% of total annual travel sales to Africa. Environmental crime deprives countries of future revenue. After China announced last week that it plans to end all commerce in ivory by the end of 2017, illegal poaching is back in the spotlight. Corruption remains the key enabler of wildlife trafficking. High-level members of poaching syndicates, sometimes government officials, are rarely convicted. The fight against environmental crime has to be addressed as a political issue. It’s the world’s fourth largest crime sector after drug smuggling, counterfeiting and human trafficking.

  • Arrested On Suspicion Of Bribery In Africa: Israeli Billionaire, Former Official, Others Implicated

    Suspicion Of Bribery In Africa By Dana Sanchez, 1:29 pm

    Steinmetz’s attorney says his client is determined to prove his innocence. He says Guinean President Alpha Conde is trying to cover his own corruption by confiscating Steinmetz’s mining rights. The investigation is being conducted in the U.S., Switzerland and Guinea, part of a global push led by the OECD to address official corruption in member states, an Israeli newspaper reported. Guinea is not an OECD member. There are no African member countries in the Paris-based Organisation for Economic Co-operation and Development.

  • Are Swiss Banks Really Returning Africa’s Stolen Loot?

    Africa's stolen loot By Dana Sanchez, 12:16 pm

    If you want to know what U.S. President elect Donald Trump thinks of African governance, read his tweets: “Every penny of the $7 billion going to Africa as per Obama will be stolen—corruption is rampant!” Africans criticize Switzerland for not doing more to return stolen money. Switzerland is trying to shake off the stereotype as a safe haven for ill-gotten loot. To some extent it’s succeeding. Tanzania has asked Switzerland to help recover money illegally stashed in Swiss banks. Other world centers are quickly filling the vacuum.

  • Calls For Zuma To Resign Grow. Will He Survive The Latest Onslaught?

    South African President Jacob Zuma By Kevin Mwanza, 6:19 am

    President Jacob Zuma is facing strong calls by the opposition and a section of the ruling party, religious leaders and business community to resign following the release of a report linking him to various counts of corruption on Wednesday. The nation’s former Public Prosecutor, Thuli Madonsela, appointed to investigate complaints of government misconduct released the 355-page report dubbed, ‘State of Capture’

  • Pro-Gordhan Rhetoric Rising In South Africa’s Mercurial Politics

    Avoiding A Ratings Downgrade By Dana Sanchez, 2:56 pm

    For now, South African Finance Minister Pravin Gordhan still has a job and he just got more responsibilities heaped on him to try and solve the country’s higher education fees crisis. The country’s university students have for months been protesting for free higher education. Gordhan is innocent of fraud charges until a court proves otherwise and with a Nov. 2 court date less than two weeks away, the government has decided he might be useful helping to solve crises like the one grabbing international headlines over protests at South African universities.

  • Government At War With Itself? South African Finance Minister Faces Fraud Charges, Rand Plunges

    Junk rating By Dana Sanchez, 10:04 am

    Since being reappointed finance minister, Gordhan has regularly clashed with Zuma loyalists after promising to fight corruption in a government regularly engulfed in corruption scandals. Ratings agencies S&P and Fitch have South Africa a notch above junk. Gordhan’s summons has led to speculation that South Africa will now be downgraded overnight. Deputy President Cyril Ramaphosa said “when a government works well it should be a government that does not wage war with itself.”

  • Opinion: South Africa Discriminates Against Foreigners Despite Acute Need For Skills

    South Africa discriminates against foreigners By Staff, 12:38 pm

    Most foreigners applying for business visas to South Africa simply give up in frustration, says immigration lawyer Gary Eisenberg. South Africa emerged from isolation, only to erect the same barriers to trade and capital that restricted the economy pre-1994, he says. The country has become uncompetitive due to corruption, an ineffective judicial process, bureaucratic inefficiency and compromised rule of law.

  • Business Opportunity: Private Sector Is Fundamental For Sub-Saharan Sanitation

    Sub-Saharan Sanitation By Staff, 12:01 am

    Political interference is a key challenge for sanitation in Africa. Public toilets are often owned by politicians, and this affects enforcement of sanitation law because the system is ripe for corruption. Citizen monitoring is effective in fighting corruption. Technology and citizen monitoring are necessary for good sanitation, stakeholders say. Private sector service is fundamental for achieving sanitation goals in sub-Saharan Africa. Entrepreneurship and business opportunities should be encouraged.

  • Log Export Ban: Will It Help Develop A Sustainable Timber Market In Mozambique?

    sustainable timber market in Mozambique By Dana Sanchez, 9:12 pm

    Mozambique has banned the export of whole logs outright from 2017, regardless of the species, in an effort to encourage local processing. China, the biggest importer of logs in the world, has been the driving force behind Mozambique’s illegal logging boom. Falling demand from China for timber exports has provided an opportunity for reform in Mozambique. The problem is, China wants the wood in raw form. There’s little incentive to invest in manufacturing in Mozambique.

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