SFO, DoJ probes prompt Glencore to beef up compliance
Under investigation in the US and Britain for alleged corruption, the commodities giant Glencore is looking for solutions. [...]
Glencore is an Anglo-Swiss commodities trader that is particularly active in Africa, most notably the Democratic Republic of Congo (DRC). In 2011, Glencore controlled 60% of the world’s zinc production and 50% of copper production. The company has been hit badly by falling commodities prices and has been selling off assets around the world.
Favourite courtier of African presidents Jacob Zuma, Ali Bongo and Denis Sassou-Nguesso, South African Ivor Ichikowitz is little by little making his mark in Central Asia. Alongside such influential regional businessmen as Kenges Rakishev in Kazakhstan and Fuad Seyidaliyev in Azerbaijan, the head of the Paramount arms group is trying to establish himself there, while still maintaining his position [...]
Fadel Al Kaabi, formerly of the Tawazun sovereign fund, set up the International Golden Group (IGG) in 2002. The company, which is headed by Fadel's uncle, former armed forces deputy chief of staff Mohammed Hilal Al Kaabi, specialises in partnerships with Western defence groups like France's Thales, Britain's BAE, Paramount of South Africa and Italy's Selex. In 2013, IGG also went into partnership [...]