Institutional Investor’s Sovereign Wealth Fund quotes Africa Center Visiting Fellow Aubrey Hruby on sovereign wealth funds providing capital for big infrastructure projects in sub-Saharan Africa:
The track record of bribes and payoffs is, in fact, legendary. “Historically, there have been many stories of corruption in large scale projects [in the region] so there is extra security,” says Aubrey Hruby, a visiting fellow at the Africa Center at Washington D.C.-based think tank the Atlantic Council and an advisor to companies operating on the continent. “Companies working on large ticket infrastructure projects have to ensure all activities are in compliance with the Foreign Corrupt Practices Act and the U.K. Bribery Act.”
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“I am bullish on Ethiopia maintaining the type of political and regulatory stability to attract large investments in infrastructure,” says Hruby at the Atlantic Council. “Ethiopia has a strong planning process that prioritizes key projects and coordinates government activity around the projects.”