Legal Approaches to Supporting Good Governance and Integrity in Africa
Chapter 9: Combating corruption: 'persuasion' and the private sector
This chapter explores the strategies for maintaining integrity in the private sector. Effective work is this area is crucial in that combating corruption and enhancing good governance are neither the sole preserve of the public sector nor necessarily simply national issues. Today the private sector wields immense economic power and political influence both nationally and internationally and it is those sectors where the State and the private sector interact and intersect that are often characterized by corrupt practices. In this context, the 'private sector' is defined as 'the sector of a national economy under private ownership in which the allocation of productive resources is controlled by market forces, rather than public authorities and other sectors of the economy not under the public sector or government'. The issue is particularly acute in that, reportedly, of the world's 100 largest economic entities, 51 are companies and 49 are countries.
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