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Search Results for: Tanzania

10 results out of 141 results found for 'Tanzania'.

UK’S GROUNDBREAKING FIRST DPA SUCCESSFULLY ENDS

The UK’s first deferred prosecution agreement (DPA) that the Serious Fraud Office (SFO) struck with Standard Bank in 2015, ended successfully on November 30, in a milestone moment for the British criminal justice system. The SFO said that Standard Bank had “fully complied with” the terms of the DPA, including covering SFO costs of GBP330,000 (USD382,135) and in May 2016 paying USD16.8 million in fines, USD8.4 million in disgorgement of profits, and USD6 million in compensation plus USD1,046,196.58 in interest to the government of Tanzania.…

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LICIT ARMS TRADE LIGHTLY REGULATED BY AML RULES, DESPITE CONCERNS OVER UNETHICAL PRACTICES

The conventional arms trade has a reputation for using side payment sweeteners to secure multi-million dollar deals. But despite allegations of corruption in numerous jurisdictions, the legitimate arms trade is not on the Financial Action Task Force’s (FATF) radar. Should it be?…

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CHINA’S TRADE WAR WITH AMERICA COULD ACCELERATE CLOTHING AND TEXTILE MANUFACTURING GROWTH IN AFRICA

AFRICAN garment and textile manufacturers have a long way to go to increase capacity, develop the supply chain and diversify overall production away from North Africa, an industry conference staged in Cairo has been told. But while north Africa accounts for more than USD10 billion out the continent’s USD13.54 billion in clothing and textile exports (during 2016, according to international trade data), the much discussed potential of Africa as the world’s next sourcing hub is starting to materialise.…

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CHINA’S TRADE WAR WITH AMERICA COULD ACCELERATE CLOTHING AND TEXTILE MANUFACTURING GROWTH IN AFRICA

AFRICAN garment and textile manufacturers have a long way to go to increase capacity, develop the supply chain and diversify overall production away from North Africa, an industry conference staged in Cairo has been told. But while north Africa accounts for more than USD10 billion out the continent’s USD13.54 billion in clothing and textile exports (during 2016, according to international trade data), the much discussed potential of Africa as the world’s next sourcing hub is starting to materialise.…

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DIGITAL CLOTHING AND TEXTILE SECTOR TECHNOLOGIES EMERGE IN EGYPT AND SOUTH AFRICA – BUT WILL THE REST OF AFRICA FOLLOW SUIT?

DIGITAL production technologies could help African manufacturers pick up business lost by Chinese rivals because of the trade war in the USA, with brands looking to take advantage of the free trade agreements that many African countries have with the USA and Europe.…

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SUB-SAHARAN AFRICA’S DIVERSE BEAUTY MARKETS COMBINE TASTES FOR TRADITION WITH AN APPETITE FOR GLOBAL TRENDS

THE PERCEPTION of beauty and hence the design and supply of personal care products is slowly changing in sub-Saharan Africa as its increasingly wealthy middle class consumers take a more personalised approach to how they look. The region has a widely diversified consumer-base, whose varied tastes are pushing brands to rethink personalising cosmetics and personal care products like never before. …

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INTERNATIONAL AGRI-RESEARCH INITIATIVE AIMS TO CREATE AFRICAN REGIONAL RESEARCH HUBS FOR RURAL DEVELOPMENT

MAJOR universities from six African countries will next year (2019) be able to develop their services through each receiving USD20 million grants from the World Bank, via a regional rural development research initiative, with the money designed to turn these institutions into regional hubs for agricultural learning.…

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EAST AFRICAN MONEY LAUNDERING BLAMED ON LACK OF LAW ENFORCEMENT

EAST African countries maybe updating their anti-money laundering and combating the financing of terrorism (AML/CFT) legislation and strengthening related institutions, but experts warn that a lack of enforcement will aid the proliferation of ML and TF in the region.

In Kenya, a Proceeds of Crime and Anti-Money Laundering (Amendment) Bill was approved by the country’s parliament last March (2017).…

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COATINGS SALES BOO IN KENYA AND ACROSS EAST AFRICA

THE BUSINESS of selling paints and other coating products is expected to skyrocket in Kenya as the government implements President Uhuru Kenyatta’s agenda of providing affordable housing in urban and rural areas and promoting manufacturing industry, over the next five years.…

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DEFERRED PROSECUTION AGREEMENTS GROW IN IMPORTANCE IN AML SECTOR

DEFERRED Prosecution Agreements (DPAs), that allow companies and individuals that admit to wrongdoing and cooperate with investigators and avoid prosecution, are becoming increasingly common worldwide, including for money laundering offences. The systems are particularly useful sticks to force erring financial and other corporate institutions to improve their anti-money laundering and combating the financing of terrorism systems (AML/CFT), with prosecuting agencies deferring criminal cases on condition of sustained AML/CFT reforms.…

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