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Goodyear to Pay Sh1 Billion for Kenya and Angola Bribery

IMMACULATE KARAMBU | Nation.co.ke   in  · ·
February 26, 2015

Top public officials at the roads and defence ministries, several parastatals and the military were among those who pocketed millions of shillings in bribes to award tenders to an American tyre company that has now been fined Sh1.5 billion in the US.

Goodyear Tyre & Rubber Company, which operates Treadsetters Tyres Limited as its Kenyan subsidiary, has now been ordered by the US Securities and Exchange Commission (SEC) to pay the hefty fine to the US Treasury after it was found liable for bribing public officials and private company bosses to award it tyre supply contracts.

This is the second time this month that a foreign company has been fined for bribing…

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