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France has long been criticized for falling short on enforcement of its international obligations to fight corruption abroad, including the OECD Anti-Bribery Convention that mandated member states to criminalize bribery of foreign public officials in international business transactions. That changed with the introduction of Sapin II, a new law similar to the U.S. Foreign Corrupt Practices Act and the UK Bribery Act that penalizes companies for failing to mitigate corruption risks in their operations, including third parties. A significant recent probe under this law shines the spotlight on Africa.
French tycoon Vincent Bollore and two of his associates have been placed under formal investigation over suspicious deals in Guinea and Togo, respectively. An advertising agency tied to Bollore allegedly undercharged the presidents of Guinea and Togo to help them win elections nearly a decade ago and, in return, the Bollore Africa Logistics company won contracts to operate ports in Conakry and Lomé. Read More...