Corruption is usually associated with the public sector – but a new guide looks at ways to tackle corruption in the private sector.
The Gordon Institute of Business Science has created a new guide to tackle business corruption in South Africa.Although the public sector in South Africa is mainly seen as the epicentre of corruption in South Africa, several corporate scandals, such as those at Steinhoff, Tongaat Hulett and EOH, are clear examples of businesses with corruption at their core.
The GIBS report has looked at several international frameworks to create anti-corruption guidelines and sets out eight key principles: Forming and structuring an anti-corruption function – an autonomous department with lines of reporting directly to the board. Guidelines for ethical lobbying – any political activities by companies must have a clear board-approved policy.Business leaders in South Africa are not only looking internally, with hundreds of CEOs of the country’s biggest companies signing a pledge to help the government in three key issues – energy, transport and logistics and crime and corruption.
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