2024-09-13 08:00:55
In his Commercial Bribery Report 2023the international non-profit Trace International reveals worrying information. According to the TRACE Corruption Risk Matrix (TRACE Matrix), which assesses the risk of corruption in companies in 194 countries, Guinea ranks among the 50 nations most affected by this scourge. This ranking, based on criteria of transparency, deterrence and monitoring, exposes the seriousness of the problem of commercial corruption on a global scale and in Africa. Find out in this report where Guinea stands and which countries are most and least affected by this pernicious practice.
The ranking is based on several criteria: business interaction with government, deterrence and enforcement of corruption, government and civil service transparency, and civil society oversight capacity.
Globally, the Nordic countries stand out for their low levels of commercial corruption. Norway, New Zealand, Switzerland, Sweden and Denmark are among the top five countries with the lowest levels of this scourge.
Conversely, the countries at the bottom of the ranking are Syria (192nd), Turkmenistan (193rd) and North Korea (194th), where the risks of commercial corruption are the highest.
In AfricaSeychelles, ranked 44th globally, is the country with the lowest level of commercial corruption, followed by South Africa (56th). Other high-ranking countries include Cape Verde (62nd), Lesotho (65th), Botswana (73rd), Namibia (74th), Mauritius (80th), Ghana (81st), Senegal (84th) and Tunisia (86th). In contrast, Guinea ranks 145th globally and 26th on the African continent.
Among the African countries with the highest risks of corruption are Guinea (145th worldwide), the Democratic Republic of Congo (185th), Chad (186th), South Sudan (189th), Congo (187th) and Equatorial Guinea (191st).
Commercial corruption is a major obstacle to business development because it distorts competition, increases costs and makes it difficult to build investor confidence.
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TRACE bribery risk Matrix
Table of Contents
Commercial Bribery Report 2023: A Global Perspective on Corruption Risk
The TRACE Corruption Risk Matrix (TRACE Matrix), a widely recognized benchmark for assessing corruption risk in companies across 194 countries, has revealed some alarming statistics in its 2023 report. According to the report, Guinea ranks among the 50 nations most affected by commercial corruption, highlighting the gravity of the problem on a global scale and in Africa. This ranking is based on four key criteria: business interaction with government, deterrence and enforcement of corruption, government and civil service transparency, and civil society oversight capacity [[2]].
Global Ranking: Nordic Countries Stand Out
Globally, the Nordic countries have emerged as the least corrupt, with Norway, New Zealand, Switzerland, Sweden, and Denmark occupying the top five spots. On the other hand, Syria, Turkmenistan, and North Korea are at the bottom of the ranking, with the highest risks of commercial corruption [[3]].
African Perspective: Seychelles Leads the Way
In Africa, Seychelles ranks 44th globally, with the lowest level of commercial corruption. Other high-ranking countries in Africa include South Africa (56th), Cape Verde (62nd), Lesotho (65th), Botswana (73rd), Namibia (74th), Mauritius (80th), Ghana (81st), Senegal (84th), and Tunisia (86th). Unfortunately, Guinea ranks 145th globally and 26th on the African continent [[1]].
TRACE Matrix: A Tool for Businesses
The TRACE Matrix provides a valuable resource for businesses operating overseas, enabling them to assess the risk of corruption in their target markets. By understanding the bribery risk landscape, companies can develop effective compliance strategies to mitigate the risks associated with corruption [[2]].
U.S. Improves in 2022 Ranking
In a related development, the United States has improved its ranking in the 2022 TRACE Bribery Risk Matrix, moving up seven spots to 16th out of 194 countries. This positive trend underscores the importance of ongoing efforts to combat commercial corruption [[3]].
Conclusion
The 2023 Commercial Bribery Report and the TRACE Corruption Risk Matrix serve as essential tools for businesses, policymakers, and civil society to understand the complex landscape of commercial corruption. By shedding light on the most and least corrupt countries, these resources can facilitate constructive dialogue and collaboration to combat bribery and promote good governance.
Optimized keywords: Commercial Bribery Report 2023, TRACE Corruption Risk Matrix, corruption risk, bribery, good governance, compliance, TRACE International, business, Africa, global ranking, Nordic countries, Seychelles, Guinea, United States.
TRACE International
TRACE Corruption Risk Matrix: A Global Perspective on Corruption Risk
The TRACE Corruption Risk Matrix (TRACE Matrix), a widely recognized benchmark for assessing corruption risk in companies across 194 countries, has revealed some alarming statistics in its 2023 report. According to the report, Guinea ranks among the 50 nations most affected by commercial corruption, highlighting the gravity of the problem on a global scale and in Africa. This ranking is based on four key criteria: business interaction with government, deterrence and enforcement of corruption, government and civil service transparency, and civil society oversight capacity [[2]].
Global Ranking: Nordic Countries Stand Out
Globally, the Nordic countries have emerged as the least corrupt, with Norway, New Zealand, Switzerland, Sweden, and Denmark occupying the top five spots. On the other hand, Syria, Turkmenistan, and North Korea are at the bottom of the ranking, with the highest risks of commercial corruption [[3]].
African Perspective: Seychelles Leads the Way
In Africa, Seychelles ranks 44th globally, with the lowest level of commercial corruption. Other high-ranking countries in Africa include South Africa (56th), Cape Verde (62nd), Lesotho (65th), Botswana (73rd), Namibia (74th), Mauritius (80th), Ghana (81st), Senegal (84th), and Tunisia (86th). Unfortunately, Guinea ranks 145th globally and 26th on the African continent [[1]].
TRACE Matrix: A Tool for Businesses
The TRACE Matrix provides a valuable resource for businesses operating overseas, enabling
