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CORRUPTION NEWS

Beneficial ownership transparency in Africa slowly gaining ground

A report released in mid-March 2023 by the Tax Justice Network (TJN) shows a slow but steady implementation of beneficial ownership transparency (BOT) regulations across the African continent. Titled Beneficial Ownership Transparency in Africa in 2022, the report reveals the state of play of the introduction of laws addressing the lack of BOT, and examines Read more >

PRESS RELEASES

CSOs demand clarity, transparency in emergency procurement

As civil society organisations dedicated to building an accountable, democratic and capable state, the government’s new disaster management regulations are cause for alarm. The electricity crisis is destroying the livelihoods of our people. We believe that urgent action is needed to address it. The new emergency procurement provisions, however, threaten more corruption and inefficiency. The Read more >

CORRUPTION NEWS

CIPC says SA’s beneficial ownership register almost here

Plans are afoot to tackle South Africa’s lackadaisical beneficial ownership regime. The Companies and Intellectual Property Commission (CIPC) has announced that it will implement a beneficial ownership (BO) information collection and storage regime as soon as regulations in that regard are promulgated. Greater BO transparency is a crucial component in the fight against financial crime. Read more >

CORRUPTION NEWS

Fact sheet on South Africa’s FATF greylisting

South Africa’s national treasury has released a useful fact sheet on the background to and implications of the country’s recent greylisting by the Financial Action Task Force (FATF). Titled What does FATF greylisting mean for a country?, the six-page document explains the role of the FATF and the mutual evaluations all FATF members are required Read more >

CORRUPTION NEWS

Treasury’s 2021/22 annual report gets qualified audit opinion from AG

National Treasury (NT) has finally tabled its 2021/22 annual report in Parliament, after finance minister Enoch Godongwana had asked the parliamentary speaker Nosiviwe Mapisa-Nqakula to extend the deadline of 15 January. NT’s 2021/22 annual report was delayed because of an ongoing dispute between NT and the Auditor-General of South Africa (Agsa), which gave the report Read more >

CORRUPTION NEWS

Criminal justice partly responsible for empty tender defaulters register

Corruption Watch’s Procurement Watch (PW) tool is an invaluable resource for detailed monitoring of public procurement. By aggregating procurement data from reports submitted to National Treasury (NT) by all procuring organs of state, PW allows organisations and individuals to more easily pick up red flags relating to deviations and contract extensions in the public procurement sphere. Launched in October 2021, Read more >

OPINIONS

Urgent need for bill to clarify laws around fake company fronting

By Sanan MirzoyevFirst published on Business Day In February 2023, South Africa will almost certainly be making an unwelcome appearance on the Financial Action Task Force’s (FATF) roster of greylisted countries — unless “we perform a few miracles”. These were the words of National Treasury’s Ismail Momoniat when he presented a grim account before Parliament Read more >

CORRUPTION NEWS

Cabinet approves bill to boost fight against money laundering

Source: National Treasury Finance minister Enoch Godongwana has tabled the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill [B18-2022] in Parliament, in terms of Joint Rule 159. The Announcements, Tablings and Committee report no 125-2022, issued by Parliament on 25 August 2022, has confirmed that the Bill has been submitted to the Standing Committee on Finance and Read more >

CORRUPTION NEWS

New CW report on trends in procurement deviations, expansions, and debarment

Image: UN Environment Programme In October 2021 Corruption Watch (CW), working with procurement law expert Prof Geo Quinot of Stellenbosch University, released its first report that analyses procurement information drawn from National Treasury (NT) data captured between 2016 and 2020. The analysis was made possible by CW’s online tool, Procurement Watch (PW), which was launched at the Read more >