Tag Archives: Corruption
By Peter Eigen, founder of Transparency International
New Massive Leak of Secret Documents from Bermudian Offshore Law Firm Reveals Tax Abuses and Corruption by Companies and the Global Elite
“Offshore Firm of the Year” Not Alone in Abusing and Profiting from Weaknesses in Corporate Tax Reporting Requirements and Company Ownership Transparency Rules
The trade of contaminated oil by Ghana’s Bulk Oil Storage and Transportation Limited (BOST) has gone through several proceedings by the general public and formal investigation units in Ghana to help clarify and deduce any illegal or crime associated with the sale of 5 million litres of contaminated fuel to Movenpiina Company Limited. The state’s Bureau of National Investigations (BNI), after investigation, has cleared the case and concluded that there was no offense in the trade. Despite this announcement, the minority in parliament has described the decision as a seed of corruption on the path of the BNI.
According to the BNI, A lab test of the contaminated fuel from the Tema Oil Refinery indicated that out of the options available, selling the product for industrial purposes such as asphalt processing, texture and cement manufacturing was the best. This option was recommended to the MD because TOR is not refining currently and the laboratory result clearly stated that treating it would not give the required quality of AGO (Diesel).
An advocacy group has also released a paper as a response to the BNI in a quest to seek a more just response on the BOST contaminated fuel trade and also calling on the current government to act on the issue.
CAPE-TOWN, South-Africa, May 13, 2013/African Press Organization (APO)/ – Africa cannot continue to be marketed as a country, when it is a continent of 54 countries, which, by 2040 will have the largest workforce in the world. The statement was made by the Economic Commission for Africa’s Executive Secretary, Mr. Carlos Lopes at the World Economic Forum on Africa this week during a session aptly titled:Myth Busting; investing in Africa.
La part africaine des investissements directs à l’étranger (IDE) mondiaux augmente depuis les cinq dernières années – Africa Attractiveness Survey
By Simon Tesfamariam
DAKAR, Senegal /PRNewswire-USNewswire/ — According to a report by the organization Global Financial Integrity, if Africa were able to stop the financial flows pouring from the continent, it would have more than enough to wipe out its external debt of about $250 billion (as of 2008). Illicit financial flows in Africa, which include drug smuggling, tax evasion, over-invoicing and underpricing is a problem that stems from collusion between governments and multinational corporations and is made worse by a lack of expertise on how to negotiate a mutually beneficial arrangement and by a lack of accountability.
EXECUTIVE MANAGER – BUSINESS DEVELOPMENT
COEGA DEVELOPMENT CORPORATION
By Wallace Mawire