04.06.17

Transparency Initiative Seychelles to fight corruption

Posted in Business and Economy, International Organisations, Seychelles offshore jurisdiction at 6:04 pm by Robert Klien

Transparency Initiative Seychelles was officially launched in the beginning of April. This is a new non-governmental organisation, a part of the global entity Transparency International (TI).

Chrystold Chetty, the chair of Transparency Initiative Seychelles, said that the group joined the international organisation as people in Seychelles are asking for more transparency.

The launch of Transparency Initiative Seychelles was done at the end of a 2-day workshop hosted earlier this week on illicit financial cash flows from Africa. Participants were from TI members from the region such as Nigeria, South Africa and Mauritius. The workshop countries explored ways to resolve the issue of money that comes illegally from African countries and how as members of TI they can lobby their respective governments to put in place measures and structures to stop the illicit financial flows.

Transparency International (TI) is working in 35 countries in Africa. Transparency Initiative Seychelles was set up in October 2016 as the newest member of the organisation.

At the opening of the workshop, the founder of TI Peter Eigen, said that the “TI was set up about 25 years ago with the idea to help stop international corruption.” He noted: “We have seen that many countries, in particular in Africa, suffer from systemic bribery by companies from Europe and the United States. We have to stop these companies from bribing the decision makers in Africa, in Asia and in Latin America.”

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