Corruption costs Africa US$150 million annually

Corruption costs Africa US$150 million annually

Corruption in Africa is costing the continent about US$150 million annually according to a 2002 African Union report.
It is for this reason that Finance Minister Calle Schlettwein is calling for drastic measures to prevent corruption saying that the millions lost can instead be used to finance institutions, development and reduce the constraints to doing business in Africa.