Tag Archives: Corruption
Corruption: Latest News
Staff, 6:40 pm
South African President Jacob Zuma has emptied his cabinet of his critics. Now that he has collaborators in all key cabinet spots, we know the country’s path if he stays in power. South Africa will move ahead with a deal for a large number of Russian nuclear plants. Property rights for farmers and mines will be further diminished so that Zuma allies can participate in once-thriving South African industries now in decline because of a lack of business confidence. Foreign investors will look elsewhere, and South Africans will move their money out.
Reuters, 11:31 am
The ANC is having its most difficult time since the end of white-minority rule. Zuma agreeing to leave early could heal some wounds. “This could be the long-awaited compromise where Zuma agrees to go in return for some protection,” a political analyst said. Zuma’s offer appears as a way out but may not be enough to satisfy opponents. “We don’t need his offers. He must just go before destroying our country,” a senior ANC member said. In a sign of how divided the party is, Zuma was asked not to attend the funeral of anti-apartheid stalwart Ahmed Kathrada on Wednesday. Gordhan got a standing ovation.
‘This Is Huge’: Nigeria Seizes Africa’s Richest Oilfield From Shell, Eni In Corruption InvestigationBy 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.
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.
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