Legal and economic symbols highlighting Senegal’s rising debt concerns.
South Africa has introduced a groundbreaking anti-bribery law that places a legal duty on companies to prevent corruption within their ranks and among associated persons such as consultants, suppliers, or joint ventures. Inspired by the UK’s Bribery Act, the law holds companies criminally liable even if they were unaware of the bribery. This shift follows damning revelations from the Zuma-era corruption inquiry, including Bosasa’s $129 million in tainted tenders. Companies must now establish “adequate procedures” to shield themselves from liability, though what qualifies remains undefined. Until official guidance is issued, firms are urged to adopt UK-style risk assessments, employee training, and due diligence processes. To ensure the law successfully prevents bribery, the South African government is encouraged to publish official guidelines on what companies must do to comply with anti-corruption regulations.
The Conversation