Ghana Loses $3Billion To Corruption Annually — Ali-Nakyea

By Joshua Kobby Smith
General News Ghana Loses 3Billion To Corruption Annually — Ali-Nakyea
NOV 21, 2019 LISTEN

The Managing Partner for Ali-Nakyea and Associates, Abdallah Ali-Nakyea has disclosed that Ghana loses USD$3billion annually regardless of all the fight against corruption in the country.

According to him, the amount represents about more than 300% percent of the 2016 Annual Budget estimate.

Speaking on the theme “Confronting the Menance of Corruption in Ghana” at the 7th National Development Forum, Mr Ali-Nakyea said “Ghana can be better of aid as well as stop borrowing if we make good use of our resources. We must do away with corruptible activities that affect the country.”

He added that if measures are put in place, the needless overspending by some top officials will be a thing of the past.

"How much was the Syno-hydro deal? USD$2billion. We are losing USD$3billion every year from corruption. Do we need loans? Do we need aid? Can we not be beyond aid?" he quizzed.

Executive Director, CDD-Ghana, Prof. Kwasi Prempeh mentioned that corruption is costing Ghana lots of money.

He stressed that, “The amount of money being misused by some Government Officials can help feed some people individuals living in deprived areas of the country.”

The Executive Director mentioned that Ghana has retrogressed due to its uncontrollable acts of corruption.

He noted that the US$3billion lost could be used to fix deplorable roads to improve the lots of the many Ghanaians.

“We were not born corrupt. We can curb corruption via education. We must do away with bribe, protocol, who you know at workplaces. We must also be committed and must not leave Government to fight this battle alone” he disclosed.

A panel discussion also deliberated on the negative effects of corruption which is affecting the country in education, corporate environment among others.

The discussion however suggested some long term ideas in the fight against corruption in the country.

Joshua Kobby Smith
Joshua Kobby Smith