South Africans are due to head to the polls on 29 May 2024.
Globally, elections are scheduled in over 70 countries this year,
including some of South Africa's largest trading partners, the
United States, the United Kingdom and the European Union
(Parliament), as well as key members of regional blocs, BRICS and
SADC.
While 2024 is a record year for elections, there is also an
elevated bribery and corruption risk for private sector firms in
South Africa as political parties compete for crucial donor
funding, and legislative changes amplify the risk from third
parties that firms do business with.
Firms will need to carefully consider their compliance
programmes and applicable legislation, as well as any existing or
contemplated public-private partnerships, tender processes and
engagement with regulators, and appropriately structure their
approach to avoid actual or perceived conflicts of interest.
