Swiss engineering giant ABB fined $4.3 million for corruption in South Africa

Logos of ABB and of Accelleron are seen in Baden.

ZURICH Reuters -- Swiss engineering and technology group ABB has been fined $4.3 million by the country's attorney general for 4 million Swiss francs in connection with a bribery case in South Africa.

The Attorney General's office said the penalty was imposed on ABB for not taking all necessary and reasonable organisational provisions in order to prevent bribery payments to foreign officials in South Africa ABB and South Africa's National Prosecuting Authority NPA this week, and that the company will pay reparations for its involvement in state corruption.

The NPA said that the company agreed to pay 2.5 billion rand $144.51 million in punitive reparations to South Africa within 60 days of December 1, and that it will pay 2.5 billion rand in punitive reparations to South Africa.

The company paid $92.48 million back to South African state power utility Eskom in 2020, in addition to 1.6 billion rand.

ABB was found guilty of improper payments and other compliance issues at the Kusile power station after a wide-scale investigation into state corruption concluded in June 2022.