South Africa corruption case costs Swiss firm additional CHF140m
Swiss engineering company ABB has been ordered to pay 2.5 billion South African rand (CHF134 million) in reparations and has been fined CHF4 million ($4.2 million) by Swiss prosecutors for industrial-scale bribery in South Africa.
This content was published on
1 minute
swissinfo.ch/mga
Português
pt
Caso de corrupção na África do Sul custa CHF140mi adicionais à empresa suíça
The cost of bribing South African officials to gain lucrative contracts is adding up for ABB. In 2020 the company had to pay a South African power company more than CHF100 million in compensation.
More
More
Swiss multinationals: global heavyweights in high-risk sectors
This content was published on
Switzerland is home to a large number of multinationals, some in sectors that are highly exposed to risks of human rights violations.
The latest financial penalties centre around a contract that ABB won in 2015 to help build a coal-fired power plant in South Africa.
“ABB South Africa received orders worth at least $200 million with bribes of at least CHF1.3 million,” said the Swiss Office of the Attorney General (OAG) on Friday.
The CHF4 million Swiss fine was imposed on ABB for failing to take “all necessary and reasonable organisational precautions to prevent bribery payments to foreign public officials”.
The OAG said it had not imposed the maximum CHF5 million criminal penalty as the company had cooperated with its probe.
The investigation of ABB was carried out jointly by Swiss, South African, United States and German prosecutors.
More
More
How do we make business respect human rights?
This content was published on
Another long session of the UN Human Rights Council has ended in Geneva. The highlights, if we can call them that, have been country specific.
Gotthard traffic queue hits 20km during holiday weekend
This content was published on
The traffic jam at the Gotthard north portal reached a length of 20 kilometres on the motorway between canton Nidwalden and canton Uri.
Swiss Interior Minister visits Cannes Film Festival
This content was published on
Swiss Interior Minister left the Cannes Film Festival on Saturday after three days of intensive dialogue, meetings and film screenings.
Swiss theatre director breaks with tradition at Vienna’s Rathausplatz
This content was published on
With the proclamation of the "Free Republic of Vienna", the start of the festival on Friday evening was unusually political.
Swiss foreign minister backs Berset at Council of Europe
This content was published on
Cassis described Berset as the "ideal candidate" to help the Council realise its aim of ensuring security and peace in Europe.
Gay conversion therapy banned in Swiss canton of Valais
This content was published on
On Thursday, the canton approved a new Health Act which includes a ban on therapies aimed at changing sexual orientation or gender identity.
This content was published on
Some aspects of pro-Palestine sit-ins have gone too far, but the right to protest and debate must be upheld, the student association has said.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss multinationals: global heavyweights in high-risk sectors
This content was published on
Switzerland is home to a large number of multinationals, some in sectors that are highly exposed to risks of human rights violations.
Responsible business initiative rejected at the ballot box
This content was published on
A majority of cantons rejected the responsible business initiative, sealing its fate. But it managed to secure the popular vote.
The Responsible Business Initiative’s orange revolution
This content was published on
Backers of the responsible business vote have been highly visual in spreading their message. Is it a new way of doing direct democracy or mere colour?
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.