IT is no secret that corruption and bribery is rampant in the corporate world. Across the globe, many corporations have offered – and continue to offer – some form of payment in return for contracts or favours from government or other companies.
Large multinational companies (MNCs) are no exception, having been involved in numerous high-profile corruption scandals over the years, tainting their image and brand names.
MNCs, especially when they have a newly set-up in a foreign market, are often faced with the need to secure the necessary licensing, permits and other approvals, and may choose to offer some payment or gifts to government officials to help quicken the process.
Others, which have been operating in the country for some time, may take the unethical path of offering – or agreeing to provide – cash or gifts in order to secure certain jobs or contracts.
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