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Equatorial Guinea has been ranked as the African country with the highest bribery risk according to the latest TRACE Bribery Risk Matrix released on Friday.
Equatorial Guinea scored 87 and placed 191st out of 194 jurisdictions globally.
The TRACE Matrix evaluated business bribery risks worldwide, offering insights into how various countries, including those in Africa, perform in terms of corruption in business dealings.
The report assessed jurisdictions based on four key areas: Business Interactions with Government, Anti-Bribery Deterrence and Enforcement, Government and Civil Service Transparency and the Capacity for Civil Society Oversight, which included media involvement.
Each jurisdiction received an overall risk scored that was a combined and weighted measure of these domains.
In Africa, South Sudan followed Equatorial Guinea with a bribery risk scored of 81, ranking 189th globally.
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The Republic of Congo came next with a score of 79, placing 187th.
Chad was ranked fourth, followed by the Democratic Republic of Congo and Somalia.
The Central African Republic was seventh on the list, with Libya, Eritrea and Mauritania completing the top ten countries in Africa with the highest bribery risks.
“The business community plays a central role in the effort to reduce corruption,” said TRACE President Alexandra Wrage.
“By maintaining high ethical standards in their direct engagement with civil servants and government leaders, multinational companies can help countries improve governance.
“Companies, however, need to understand the sources and multifaceted character of corruption to better target risk.”
The TRACE Bribery Risk Matrix’s findings underscored the persistent challenges of business bribery in Africa, a region often marked by less stringent regulatory frameworks and weaker institutional oversight.
Transparency International has identified bribery as one of the most pervasive forms of corruption worldwide, noting that it affects everything from tender processes to cross-border investments, particularly in countries where oversight is lacking.
While bribery in business is not unique to Africa, the risks can be particularly high in regions where governance structures are not robust.
The TRACE report emphasized that understanding and mitigating these risks is crucial for businesses operating in or entering these markets.
This report served as a critical reminder of the ongoing need for robust anti-bribery measures and greater transparency in business interactions across the continent and it called on both local and international stakeholders to uphold ethical practices to foster better governance and reduce corruption.
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