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Commodities in Côte d'Ivoire: Glencore convicted for corruption

07/11/2022
Categories: Sectors

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On Thursday, November 4, 2022, the Swiss commodity trading giant Glencore was convicted by the British court. He paid 280 million pounds, over 300 million euros, for acts of corruption in Africa, an unprecedented judgment.

In reality, he is suspected of paying bribes of over 28 million dollars to gain preferential access to oil in Nigeria, Cameroon, Côte d'Ivoire, Equatorial Guinea and South Sudan. This statement was made following a British request launched in 2019 through employees and agents. Pleading guilty, Glencore admitted the facts “inexcusable” and will have to pay 280 million pounds, or more than 320 million euros. This sum includes £183 million in fines, reimbursement of court costs, and £93 million in “forfeiture” of illegally obtained assets.

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