Nigeria is missing in the list of countries in Africa where corruption through bribery in business operations is endemic.
According to Transparency International, bribery remains one of the most pervasive forms of corruption worldwide. However, in many African countries, where institutional oversight may be weaker, the practice can take on greater dimensions, affecting everything from tender processes to cross-border investments.
Although it is said that bribery in business is not unique to Africa, the risks can be particularly high in a region with less stringent regulatory frameworks.
On the continent, Equatorial Guinea tops the list with the highest bribery risk, scoring 87 and ranking 191st globally.
For many businesses, the line between ethical practices and survival can become blurred when bribery becomes a common part of the landscape.
The TRACE Bribery Risk Matrix which evaluates business bribery risks globally, provides insights into how various African countries perform in terms of business bribery.
This report assesses 194 jurisdictions, territories, and regions, giving each a risk score based on four key areas: Business Interactions with Government, Anti-Bribery Deterrence and Enforcement, Government and Civil Service Transparency, and Capacity for Civil Society Oversight, including media involvement.
The overall country risk score is a combined and weighted measure of these domains.
“The business community plays a central role in the effort to reduce corruption,” TRACE President Alexandra Wrage said. “By maintaining high ethical standards in their direct engagement with civil servants and government leaders, multinational companies can help countries improve governance. Companies, however, need to understand the sources and multifaceted character of corruption to better target risk.”
In Africa, Equatorial Guinea tops the list with the highest bribery risk, scoring 87 and ranking 191st globally. South Sudan follows with a score of 81, placing 189th worldwide, while the Republic of Congo is next with a score of 79, ranking 187th globally.
