In the prior post, I talked about steps governments in East Africa can take to lift the natural resource curse that plagues the region. Let’s look now at how extractive companies and foreign governments can also help make life better for millions of people.… Continue Reading
There’s no silver bullet to overcome the natural resource curse that haunts much of the globe. But countries in East Africa, the region I am most familiar with, can take several practical and affordable steps to exploit resources in ways that will benefit citizens and put realistic development goals within reach.… Continue Reading
Since discovering oil in 2009, Uganda has not pumped a single barrel and the resource remains unexploited. An historic opportunity has so far been stymied by bureaucracy, law suits, corruption, hostilities with neighbors taking on a military hue, as well as the lack of adequate infrastructure to move the oil to market.… Continue Reading
Ireland’s Minister for Foreign Affairs said the government of Uganda will repay €4 million that was diverted from an Irish aid package.
A report by the Irish Examiner said the Prime Minister of Uganda Patrick Amama Mbabazi ‘denied any knowledge of the fraud through his office and insisted none of the missing money was ever paid to him.’… Continue Reading
A retired supreme court justice in Uganda has proposed anti-corruption training for citizens, starting with the school kids.
By Richard E. Messick
A new World Bank study on corruption in the roads sector shows the challenges contractors and engineering firms working in developing countries face when trying to avoid being drawn into schemes that violate the Foreign Corruption Practices Act or the anti-corruption laws of other nations or both.… Continue Reading
In one of the biggest Foreign Corrupt Practices Act settlements of all time, Paris-based Alcatel-Lucent S.A. will pay $137 million for bribing officials in Costa Rica, Honduras, Malaysia, and Taiwan.
The company and three subsidiaries will pay $92 million to resolve criminal charges with the DOJ and $45 million in disgorgement to the SEC.… Continue Reading
The U.K.’s failure to prosecute its multinationals for overseas bribery, while other European countries and the U.S. are stepping up enforcement, threatens the integrity of the international anti-bribery effort. That’s what a fed-up OECD Working Group on Bribery says in its just-released report.… Continue Reading