Navigating Entrenched Corruption Risks in South Africa
The World Economic Forum on Africa, held in Cape Town last month, carried a familiar refrain: that corruption and bureaucracy are some of the most significant impediments to bringing foreign investment to Africa. Championing the resurgence of the African economy, South Africa’s president Cyril Ramaphosa said that “this is Africa’s century,” but he also acknowledged that corruption is “a problem that has always beset the continent.” As for Ramaphosa’s home country, the events of his short tenure in office exemplify how South Africa’s economic promise is vulnerable to highly entrenched bureaucracies with deeply rooted corruption. This article explores the corruption climate in South Africa and key compliance considerations for U.S. companies doing business there.
Navigating Entrenched Corruption Risks in South Africa.pdf (pdf | 61.04 KB )