Search

BCG Admits to Bribery in Angola, Agrees to Forfeit $14 Million

Allen dreyfus Logo
© Allen Dreyfus
  • Boston Consulting Group pays over $14 million to settle bribery case involving Angolan contracts
  • Bribery scheme uncovered as part of broader U.S. crackdown on corruption in Angola

The Boston Consulting Group (BCG) has admitted to paying millions of dollars in bribes to secure business in Angola, one of Africa’s biggest oil producers. The consulting firm has agreed to forfeit over $14 million in profits from contracts it won with the country’s economy ministry and central bank, according to a US Department of Justice (DoJ) investigation that was recently made public.

This article is free to read.

Sign up for free or sign in to continue
reading. Unlike our competitors, we don't force you to pay
to read the news but we do need your email address to
make your experience better.

Create your free account or sign in


Recent Business

Sammy Gyamfi, CEO of Ghana Gold Board. Photo credit: Ghana Gold Board
Sammy Gyamfi: the young CEO behind Ghana’s new gold revolution
Read More »
A vast array of solar panels, symbolising renewable energy. Photo by Quang Nguyen Vinh @ Pexels
How Eskom's $65mn renewable push could position Africa as a clean-power powerhouse
Read More »
People selling fresh fruits at the market in Addis Ababa, Ethiopia. Photo by Atypeek Dgn @Pexels
Can Ethiopia’s sweeping reforms finally unlock Africa’s next growth engine?
Read More »

Recent Politics

A protester holding the Kenyan flag during a demonstration in Nairobi's streets. Photo: @Pexels
How Ruto’s fuel policies triggered public outrage in Kenya
Read More »
French President Emmanuel Macron and Kenyan leader William Ruto at the Africa Forward Summit. Photo @William Ruto/Facebook
Can France win Anglophone Africa after Sahel influence collapse?
Read More »
French President Emmanuel Macron in Africa recently. Photo @Emmanuel Macron/Facebook
Will France’s €23bn Africa pledge finally deliver beyond summit diplomacy?
Read More »

Latest Posts

Latest news insights