According to Dr. Akinwuni Adesina, the President of the African Development Bank (AfDB), corruption should not be only attributed to Africa as a regional issue.
Adesina’s statement, which was made accessible to the News Agency of Nigeria (NAN) in Abuja on Saturday, conveyed the following information.
As per his perspective, it is crucial to persistently enhance openness, accountability, and the utilization of public resources.
The global financial crisis that occurred in 2008 did not have a significant impact on Africa. The absence of Wall Street is evident. The occurrence of the collapse can be attributed to factors such as greed, corruption, and fraud.
In the financial business of Europe, there are instances of individuals engaging in fraudulent accounting practices, sometimes referred to as “cooking the books.” However, such occurrences are not prevalent in the financial industry of Africa. The issue of corruption is not exclusive to the African continent.
The matter at hand is not to imply that there is an absence of it. The imperative is to persistently enhance transparency, accountability, and the utilization of public resources.
According to Adesin (year), his initial visit to Eritrea revealed that the nation boasts a corruption-free record, with a reported rate of zero percent.
During the initial encounter with the UN Development Programme personnel in Eritrea, a conversation took place. Do you have knowledge of the information that was conveyed to me? In Eritrea, the prevalence of corruption is reported to be negligible, with a recorded rate of zero percent.Why is there a lack of discourse about that topic? This is the type of endeavor we aspire to undertake. As a development bank, the importance of good governance is highly prioritized by our institution.
In my perspective, it is not appropriate for individuals to possess the riches of others. The speaker emphasized the necessity for governments to exhibit accountability towards their constituents.
The President of the African Development Bank (AfDB) emphasizes the necessity of transparency in both the acquisition and utilization of resources. This is the reason for the implementation of a governance programme.
He stated that when individuals receive financial assistance from their organization, they also provide technical support. You are responsible for the allocation and management of such resources.
It is important to acknowledge that Africa experiences a substantial volume of illegal capital flows, estimated to range from 80 billion to 100 billion dollars annually. However, it is important to note that The entities engaged in such activities are multinational corporations. Therefore, it is imperative to shed light on this matter.
Adesina voiced concern with Africa’s persistent place at the lower end of the global value chain when discussing potential strategies for enhancing the continent’s standing.
As per his assertion, the expeditious route towards impoverishment lies in the practice of exporting raw resources, but the pathway to affluence is paved by engaging in global value chains.
