Africa Loses Over $580 Billion Annually to Corruption: AfDB Report
Africa loses over $580 billion annually to corruption, illicit outflows — AfDB. That’s a staggering amount, isn’t it? To put it in perspective, the numbers the African Development Bank (AfDB) is reporting represent a significant chunk of the continent’s economic output. Some quick calculations suggest that’s potentially one-fifth or even one-sixth of Africa’s Gross Domestic Product (GDP) disappearing. This implies that the continent is missing out on crucial resources that could be used for development, infrastructure, and improving the lives of its citizens.
Africa loses over $580 billion annually to corruption, illicit outflows — AfDB. When you consider the context of the GDP, the amount that’s lost seems even more devastating.… Continue reading
Matt Underwood