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Browsing: Corruption in China
- China Henan International Cooperation failed to to disclose the use of a commission agent while submitting a bid.
- The ban on Chinese firm reflects broader concerns about the nature of China-Africa economic relations.
- The move follows the conclusion of a negotiated settlement agreement with the Chinese company.
The African Development Bank (AfDB) has suspended Chinese firm, China Henan International Cooperation Group Company Limited, from undertaking any contracts in Africa for the next one year.
The move follows the conclusion of a negotiated settlement agreement with the Chinese company putting an end to sanctions proceedings for a fraudulent practice against China Henan International Cooperation.
In the directive, pursuant to the negotiated settlement agreement, China Henan International Cooperation Group Company Limited, registered in China, will be debarred for a period of 12 months, effective 28 March 2024.
“An investigation conducted by the Office of Integrity and Anti-Corruption of the African Development Bank …