The National Assembly has unanimously approved a tough new anti-corruption law that radically redefines corruption and replaces the common law crime of bribery with an "all-encompassing offence" covering corrupt activities.

It targets corruption in the private sector, which often goes unpunished, graft in sporting activities, gambling and auctions, and criminalises offers to perform a corrupt action.

Anyone, in business or government, who accepts or solicits any "gratification" and anyone who offers such incentives may be convicted.

A conference this week heard that white-collar crime costs the economy between R50 billion and R150bn a year.

The Prevention of Corrupt Activities Bill imposes stiff penalties for corruption, including life imprisonment for serious offences.

The bill would allow the National Prosecuting Authority to investigate officials who have unexplained wealth and compel them to explain discrepancies between known income and lifestyle.

The "ground-breaking" bill is an attempt to give justice officials tools to counter corruption, which is notoriously difficult to prosecute.

Speaking in the debate on the bill yesterday, Steve Swart, said his African Christian Democratic Party supported the bill, but it needed to give more attention to nepotism, whereby relatives and friends of high-ranking officials were awarded contracts.

Swart supported provisions applying to the private sector and clauses requiring bosses in the private and public sectors to report corruption involving R100 000 or more among colleagues or employees, on pain of imprisonment or a fine.

The bill also provides for the blacklisting of companies and business owners found guilty of corrupt practices. The blacklist is to be held by the national treasury and those on it may not tender for state contracts for between five and 10 years.

Sheila Camerer (DA) said corruption was "in danger of becoming systemic".

Minister of Justice Penuell Maduna said it was not enough to have a strategy, legislation and rigorous law enforcement.

"Corruption is frequently a product of the culture of the society. A change in the culture is necessary. We can win the war ... only if we have the co-operation of all."

With acknowledgements to Andre Koopman and the Cape Times.