Anti-Corruption & the FCPA in Africa
12 PM EST
- This is a non-CLE program
- The timing for this program is listed in US Eastern Standard Time
- This is the fifth of six programs on this topic. If you select one of the Package Pass rates, you will automatically gain access to all six teleconferences for the price of five. The dial in information for each program will be sent to you automatically as soon as it becomes available. Recordings of all previous programs will also be emailed directly to you if you purchase this registration option.
The African continent is aptly described as a land of vast opportunities and potential. For American businesses and investors, however, corruption and fraud are significant deterrents to investing in the continent. The African Union estimates that Africa loses $140 billion as a result of corruption each year, which is a leading cause of poverty and an inhibitor of economic growth and prosperity. American companies who operate in Africa face an additional concern—complying with the U.S. Foreign Corrupt Practices Act (FCPA). The FCPA prohibits the payment of money, gifts or anything of value to government officials in order to obtain or retain business. Penalties for violating the anti-bribery and books and records provisions of the FCPA have been rising in recent years reaching hundreds of millions of dollars and lengthy prison sentences for culpable individuals. Research suggests that corruption can be curbed through strengthened anti-corruption institutions and oversight agencies. Can legislation like the FCPA facilitate Africa’s economic growth and deter corruption or do anti-bribery laws retain the status quo while making it difficult for American companies to do business on the continent?