Glencore Exposed for Using Private Jets to Ferry Cash Across Africa to Bribe State Officials

• Prosecutors from the United Kingdom unpacked how commodity trading company Glencore engaged in bribery and corruption in Africa
• The company would fly jets filled with cash around the continent to bribe state officials
• Glencore pleaded guilty to seven counts of bribery across five African countries

LONDON - United Kingdom prosecutors unravelled a convoluted web of bribery and corruption on the part of Glencore's London oil trading division on Wednesday, 2 November.

Glencore officials allegedly ferried money in private jets to state officials around Africa. Prosecutors claimed that the company forked out over R510 million in bribes to gain access to oil cargoes.

The trading company pleaded guilty to seven counts of bribery in five African countries, including Nigeria and Cameroon, after a Serious Fraud Office (SFO) investigation, Reuters reported.

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The SFO announced that the Glencore bribery case is the first tie that a corporation has been convicted for paying bribes. A London is set to determine the final fine the trading company will pay on Thursday, 3 October.

Glencore said, in May, that it made a R7.4 billion provision for any fines stemming from the UK investigation. the company is still facing ongoing investigations in the US, Brazil, Switzerland and the Netherlands.

According to News24, the sentencing is expected to draw a line over several long-running investigations in the UK. However, the possibility of prosecution for several Glencore employees remains open.

Netizens react to the extent of Glencore's bribery and corruption

People in Mzansi are sceptical that Glencore didn't engage in dodgy dealing in South Africa.

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Here are some comments:

@lungidosh said:

"We really need a full expose of Glencore activities, names, dates and amounts."

@Fifstaref added:

"And yet they are innocent in SA"

State capture: President Cyril Ramaphosa says South Africa has entered a new era of corruption fighting

In another story, Briefly News reported that President Cyril Ramaphosa gave the country feedback on the implementation of the State Capture Commission of Inquiry report on Sunday, 23 October.

Ramaphosa stated that South Africa had entered a new chapter of fighting corruption by implementing the recommendations in the State Capture report.

During his speech, Ramaphosa thanked whistleblowers for coming forward and providing the commission with evidence, reports News24.

Source: Briefly News