Global firms named in African mining lawsuit

Global firms named in African mining lawsuit

Global firms named in African mining lawsuit

Apple, Google, Tesla and Microsoft are reported to be among firms named in a lawsuit seeking damages over deaths and injuries of child miners in the Democratic Republic of Congo (DRC). According to the BBC, the case has been filed by the International Rights Advocates on behalf of 14 Congolese families, accusing the companies of knowing that cobalt used in…

Kenya launches new data protection rules

Kenya launches new data protection rules

Kenya launches new data protection rules

Kenya has introduced a new data protection law, which should safeguard against the commercialisation and misuse of data. The law, which brings Kenya into line with similar rules in South Africa, has been backed by the local information and communications technology (ICT) fraternity, which has described it as a good regulation policy framework for the industry. Robert Nyamu, partner and…

Africa most prone to corporate bribery with Europe least risky

Africa most prone to corporate bribery with Europe least risky

Africa most prone to corporate bribery with Europe least risky

Africa is the riskiest continent for corporate bribery with Europe at the other end of the scale, according to the 2019 Trace Bribery Risk Matrix. The latest matrix by the anti-bribery and risk management solutions firm, found that Africa has the highest bribery risk with an average country score of 64. Somalia was ranked the number one most risky country.…

How to avoid sanctions for lack of compliance in Equatorial Guinea

How to avoid sanctions for lack of compliance in Equatorial Guinea

How to avoid sanctions for lack of compliance in Equatorial Guinea

Companies are being advised to be mindful of local compliance rules ahead of doing business in Equatorial Guinea. Pablo Mitogo, associate attorney, Centurion Law Group, has outlined some of the common problems that companies have with local content rules in country. He explained: “In 2018, the Ministry of Mines and Hydrocarbons of Equatorial Guinea informed operators Exxon Mobil, Noble Energy…

African bribery cases highlight need for risk management

African bribery cases highlight need for risk management

African bribery cases highlight need for risk management

An ex-Credit Suisse banker has testified to taking $45m in bribes while helping Mozambican firms secure loans worth $2bn, while in Switzerland the authorities have ordered commodities trading giant Gunvor to pay nearly CHF94m in compensation and fines for failing to stop its representatives from bribing public officials to gain access to oil markets in Congo and Ivory Coast. According…

South Africa falls in terms of rule of law

South Africa falls in terms of rule of law

South Africa falls in terms of rule of law

South Africa dropped three positions in the past year for overall rule of law performance, to 44th out of 126 countries, according to the latest Rule of Law Index, released by The World Justice Project (WJP). The strength of the rule of law in a country was ranked among the top three considerations when multinationals make decisions about where to…

IUMI calls for action on ‘alarming’ cargo theft risk

IUMI calls for action on ‘alarming’ cargo theft risk

IUMI calls for action on ‘alarming’ cargo theft risk

The International Union of Marine Insurance (IUMI) has called for greater law enforcement and business action to mitigate the growing risk of cargo theft, which it warns has reached “alarming proportions”. In a position paper published to coincide with its annual conference in Toronto, IUMI proposed dedicated cargo theft taskforces to coordinate law enforcement across borders and develop effective networks…

Rise in African mergers and acquisitions

Rise in African mergers and acquisitions

Rise in African mergers and acquisitions

Mergers and acquisitions (M&A) across Africa have risen in terms of value but not volume, according to the latest figures. The total deal value of M&A transactions in Africa increased by $21bn in the first half of 2019, a 31% rise on the same period of 2018. However, according to analysis by Baker McKenzie of Refinitiv M&A data for Africa,…

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains failing to make progress on child labour risk, finds Verisk Maplecroft

Global manufacturing supply chains that operate through the world’s major hubs are making little or no progress in stamping out child labour, finds new research from Verisk Maplecroft. In its Child Labour Index, the risk analytics firm said manufacturing hubs most entwined in global supply chains – including China, India, Bangladesh, Vietnam and Cambodia – have “not recorded any improvement”…

Ifrima plans academic study to back global programmes campaign

Ifrima plans academic study to back global programmes campaign

Ifrima plans academic study to back global programmes campaign

A serious academic study on the negative impact of inconsistent and protectionist insurance regulation around the world is likely needed if the international risk and insurance management community is to convince regulators of the need for reform from the top down, according to the chair of the International Federation of Risk & Insurance Management Associations (Ifrima). Mary Roth, who is…

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