Corruption levels in South Africa seems to have gotten slightly worse in recent years but as a country we have made a lot of progress, ENS Africa’s Forensics Director, Steven Powell told CNBC Africa.
The ENSafrica’s anti-bribery and corruption survey found that the country has made some inroads in as far as addressing loopholes especially through relevant legislative framework.
“We have passed some amazing legislation to counter corruption; the area where we are lagging is enforcement,” said Powell.
“South Africa is a very productive economy; there are a lot of productive industries where the corruption threat is very prevalent.”
The survey saw an upsurge of incidents of bribery, but so has general awareness of anti-bribery compliance among organisations.
“Twenty four per cent of organisations have experienced an incident of bribery and/or corruption in the past 24 months (that’s an increase of four per cent since 2013), with five per cent experiencing five or more incidents within the last 24 months,” read the company’s statement.
The report revealed that over 90 per cent of organisations surveyed have a policy prohibiting bribes with 52 per cent also saying they have an established anti-bribery compliance programme.
Corporate South Africa has risen to the challenge and many have initiated compliance programmes.
“Those that are compliant do so predominantly due to threats of the U.S government with the rigorous enforcement of the Foreign Corrupt Practices Act,” added Powell.
He also said there were a number of South African corporations which are ignorant of the existing corruption compliance requirements.