The Escalation of Corporate Corruption During the Covid-19 Pandemic: Is the Anti-Corruption Framework of the Companies Act 71 Of 2008 Adequate?

Rehana Cassim
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Abstract

During the Covid-19 pandemic, corruption in South African companies, both state-owned and privately-owned, reached staggering proportions. This included bribery, procurement irregularities, overpricing and fraudulent deals between government officials and companies. This article identifies provisions of the Companies Act 71 of 2008 that may be used to address corporate corruption. This is done with a view to ascertaining whether the anti-corruption framework of the Companies Act is adequate to counteract corporate corruption. It concludes that the Act contains a fairly comprehensive framework to tackle corruption in companies registered under it. In spite of this framework the level of corporate corruption remains high, and increased substantially during the Covid-19 pandemic. The article makes recommendations to reduce these high levels of corporate corruption.
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Covid-19大流行期间企业腐败的升级:2008年第71号公司法的反腐败框架是否足够?
在2019冠状病毒病大流行期间,南非国有和私营企业的腐败达到了惊人的程度。这包括贿赂、采购违规、定价过高以及政府官员与企业之间的欺诈性交易。本文确定了2008年《公司法》第71条可用于解决企业腐败问题的条款。这样做是为了确定《公司法》的反腐败框架是否足以打击公司腐败。它的结论是,该法案包含了一个相当全面的框架,以解决在该法案下注册的公司的腐败问题。尽管有这一框架,但企业腐败程度仍然很高,在2019冠状病毒病大流行期间大幅增加。本文提出了减少这些严重的企业腐败的建议。
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