SOUTH AFRICA JOINS BRIBERY CRACKDOWN !
Bribery is still a problem in international business. South Africa has said it will sign up to the Organisation for Economic Co-operation and Development (OECD) convention banning bribery.
It will become the first African signatory of the group.
Those signing up to the pact must implement measures aimed at preventing, detecting and punishing the bribery of foreign officials.
The UK Serious Fraud Office is probing payments allegedly made by BAE Systems in South Africa.
Similar probes into BAE's activities in five other countries are also being investigated.
The probe relates to a deal in late 1999, when South Africa ordered an upgrade to its armed services.
BAE Systems has said that it is co-operating with the on-going investigation but will not comment on the issues concerned.
Powerful impact
South Africa's former deputy president, Joseph Zuma, is also facing a court case over allegations that he received payments from the French arms company, Thint.
Mr Zuma was sacked from the government two years ago when his financial adviser Schabir Shaik was found guilty of corruption in a case that arose from a government arms procurement deal in the 1990s.
The OECD said that since its anti-bribery convention was introduced, there had been a significant growth in the number of investigations and prosecutions for bribery.
BBC NEWS REPORT.It will become the first African signatory of the group.
Those signing up to the pact must implement measures aimed at preventing, detecting and punishing the bribery of foreign officials.
The UK Serious Fraud Office is probing payments allegedly made by BAE Systems in South Africa.
Similar probes into BAE's activities in five other countries are also being investigated.
The probe relates to a deal in late 1999, when South Africa ordered an upgrade to its armed services.
BAE Systems has said that it is co-operating with the on-going investigation but will not comment on the issues concerned.
Powerful impact
South Africa's former deputy president, Joseph Zuma, is also facing a court case over allegations that he received payments from the French arms company, Thint.
Mr Zuma was sacked from the government two years ago when his financial adviser Schabir Shaik was found guilty of corruption in a case that arose from a government arms procurement deal in the 1990s.
The OECD said that since its anti-bribery convention was introduced, there had been a significant growth in the number of investigations and prosecutions for bribery.
Labels: SouthAfrica Bribery OECD Zuma Thint BAE Allegations Corruption Guilty Arms-procurement Prosecutions
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