Financial Transparency Coalition

Looking at 2012, experts from the Brookings Africa Growth Initiative (AGI) and colleagues from think tanks based in the region have come together to produce this year’s issue of Foresight Africa, where they outline the top priorities for the continent for 2012 and beyond. AGI scholars assess what they see as the major challenges for Africa in the coming year and provide policy recommendations on how to manage these challenges and leverage opportunities to catalyze and reignite growth in 2012. Similarly, AGI and its partner think tanks identify country-specific challenges in Nigeria, South Africa, Senegal and Kenya.

Is it a coincidence that the UN’s International Anti-Corruption and Human Rights Days follow on consecutively. (Friday 9 and Sat 10 December)? Possibly not. After all, human rights abuse and corruption are linked. Not least by opaque corporate ownership structures that can prevent legal redress

The James Mintz Group recently released a fascinating interactive database, which compiles decades of data on violations and penalties under the Foreign Corrupt Practices Act, the U.S. flagship legislation that makes bribery of foreign officials a crime. Since its inception, prosecutors have penalized over 200 companies under the FCPA in about 80 countries, amassing about $4 billion in penalties. The database, which they call Where the Bribes are Paid, allows users to see how the total penalties amassed in each country break down by sector. It is a relatively unsurprising finding that the energy sector has generated the largest...

As Libya prepares for the future, what are financial centres doing to stop the flow of stolen assets from dictators? The following is adapted from a speechmade by Transparency International’s vice-chair, Akere Muna, at the UN public service forum in Dar es Salaam, United Republic of Tanzania. If corruption, especially money laundering and bribery are to be tackled, we need to see action not only from developing countries, but also countries that are home to major financial centres. Here in Africa there is wide recognition that poor governance is one of the biggest barriers to sustainable development, what is missing is recognition...