Dodgy businesses must feel the pain

When it comes to corruption in South Africa, the focus is often on the ANC government – understandable, given that looting appears to be its favourite hobby. And, because attention is in that direction, the crooks in the private sector – and there are many – seem to have been getting a free pass, escaping close scrutiny. That is why it is difficult not to be in two minds about the news that JSE-listed construction companies Stefanutti Stocks, WBHO and Aveng have agreed to settle the multimillion-rand civil damages claim against them by the City of Cape Town.

The claim was lodged because of collusion and bid rigging on the Green Point Stadium, now called the Cape Town Stadium, ahead of the 2010 Fifa World Cup. The settlement means the companies will each pay R10 million a year over the next three years to the city and get involved in social projects.

While the “punishment” is significant, the question must also be asked: why were no criminal charges brought against those involved for such behaviour?

Unless businesses are made to feel personal, as well as financial, pain, they will keep on with their dodgy cartel practices and we will continue to be their victims.