Namibia Fares Well in Ethics and Risk Survey

NAMIBIA is among a few SADC nations who scored high in having effective regulatory environments, and being compliant with anti-money laundering regulations.

Other countries that fared well are Botswana and Mauritius regarding are effective regulatory environment, and South Africa (SA) with regards to anti-money laundering. The three top performers in terms of an ethical business environment are Mauritius, Botswana and Lesotho.

This was among the findings of a ‘2014 Ethics and Compliance Risk Survey’ by the centre for corporate governance in Africa at the university of Stellenbosch Business School. The survey, which covers ethical and compliance risks faced by South African companies with operations in SADC, was launched yesterday.

The research is based on responses received from 26 companies listed on the Johannesburg Stock Exchange. Most of the respondents were company secretaries, compliance officers or risk managers.

“The survey highlights the fact that conflict and corruption affect each other, and that the abundance of natural resources in some countries could be viewed as a curse. This is because they become the focal point of sporadic violence and political upheaval, which in turn exacerbates the downward spiral caused by corruption, poverty, disease and an inefficient government,” said the centre’s director, Daniel Malan.

Other key findings suggested that while business is generally easier and cheaper to do in SA than in the rest of the SADC region, bribery and corruption are perceived to be especially prevalent in the granting of SA government contracts and procurement tenders.

Angola, Zimbabwe and the Democratic Republic of the Congo were also considered to be the three most corrupt SADC countries across a wide variety of aspects, including its business environment, the regulatory environment and law enforcement.

“Corruption remains one of the major obstacles to Africa’s rise,” said Malan, the centre’s director. “This is seen as a serious threat to the improved economic and political landscape in Africa.”

Source : The Namibian