Abu dhabi: Dr Akwasi Opong-Fosu, Chair of the Africa Global Emergence Centre, has emphasized that corruption is not an inevitable fate but a choice that is continually made, accepted, and strengthened. He contrasted this with integrity, which he described as a decision that is principled, courageous, and consistent.
According to Ghana News Agency, Dr Opong-Fosu shared these insights during the Anti-Corruption Roundtable Forum, an event co-hosted by the Global Chamber of Commerce and the University of South Carolina Sonoco International Business Department. The forum, themed 'Towards a New Anti-Corruption Agenda: Lessons from Diverse Stakeholders in Africa and the West,' aimed to bring together leaders from Africa and the West to address the persistent issue of corruption and its impact on African business.
The virtual gathering highlighted the need for a shared understanding of the evolving nature of corruption and a willingness to adopt new solutions. Dr Opong-Fosu urged stakeholders to speak the truth, even when inconvenient, to hold themselves and others accountable, and to build enduring institutions. He emphasized the importance of fighting corruption with policy, leadership, and collective resolve, stating that discussing corruption is not enough.
The former minister characterized corruption as more than just a bureaucratic oversight, describing it as a direct assault on human dignity that deprives nations of opportunity, weakens institutions, and undermines public trust. He cited staggering global figures, noting that corruption drains over $2.6 trillion annually from the global economy, more than 5 percent of global GDP. Additionally, over $1 trillion is lost in bribes each year.
In developing countries, an estimated $1.26 trillion is lost annually, an amount that could lift 1.4 billion people out of poverty for at least six years. For Africa, the annual loss is approximately $10 billion, resources that could have been used to build hospitals, fund schools, and create jobs. Dr Opong-Fosu emphasized that these figures are not just statistics, but represent tangible losses like stolen medicines and unbuilt roads.
