Tag Archives: Corruption
Corruption: Latest News
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.
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.
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.
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’
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.
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.”
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.
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.
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.
What People Are Saying About Nigeria Officially In Recession. Will Politics Send South Africa There Too?By Dana Sanchez, 3:34 pm
Correcting Nigeria’s economy won’t happen in the short term, says a longtime proponent of the “Africa rising” narrative. The South African currency could sink as low as 19 rand to the dollar this year. South Africa and Nigeria can rebound given the time and determination. Meanwhile, East African economies such as Tanzania and Ethiopia are growing and presenting alternatives for investors.
- Real Estate