AfDB President Adesina highlights global nature of corruption

Akinwumi Adesina, President of the African Development Bank (AfDB), emphasized that corruption is not a challenge unique to Africa but rather a global crisis. He pointed out that corruption exists even in Europe, with instances of financial misconduct.

Adesina made these remarks during an interview with the UK Guardian. He noted that while corruption can be prevalent in Europe’s financial and economic sectors, some places in Africa, such as Eritrea in East Africa, have demonstrated extremely low levels of corruption, with a reported zero percent.

He stressed the importance of enhancing transparency and accountability in public resource management across the African continent. Adesina cited the global financial crisis of 2008, which had its roots in greed, corruption, and fraud, as an example that did not originate in Africa. He noted that Africa should focus on improving the responsible use of public resources to combat corruption.

Adesina also highlighted the need for Africa to enhance the value of its natural resources, such as oil and gas, minerals, metals, and food, to promote economic growth. He emphasized the significance of proper investment, good governance, and appropriate incentives to drive the continent’s development.