Corruption: Worst threat to businesses in the Ghanaian Economy- GII

The Ghana Integrity Initiative has established that corruption is the worst threat to businesses operating in the Ghanaian economy. According to the Fundraising Manager of GII, Michael Boadi, the citizenry, corporate entities and state agencies responsible must develop that consciousness to eradicate corruption from the country.

Speaking a Regional Multi-Stakeholder Business Integrity forum held in Takoradi on Wednesday 28 November, 2018, Mr Boadi stressed that a collective action is required to enhance the country’s integrity systems in order to save businesses and curb resource leakages.

“Ghana is working towards development beyond aid. For that to be possible, the country will need to enhance her integrity systems and reduce the resource leakage through corruption. Obstacles such as excessive bureaucracy, long business turnaround time, unauthorized fees, inadequate or lack of the proper regulatory mechanism and weak enforcement as well as weakening integrity and transparency of agencies of state needs to be tackled. Among all the constraints listed above, corruption is the worst threat to businesses operating in our economy”, he explained.

Mr Boadi added that “tackling corruption will require the engagement of multiple stakeholders if we are going to make any headway”

Mr Boadi emphasized that Ghana Integrity Initiative under its expanded DANIDA support “Tax and Development Programme”, seek to coordinate and facilitate a quarterly multi-stakeholder forum among businesses, private sector, state actors and civil society to identify, project and advocate for a corruption free business environment in Ghana”

Chairman for the occasion, Paramount Chief for Essikado Traditional Area, Nana Kobina Nketsia V contended that the extinction of the Ghanaian cultural values has been the bane to our development. He said such a drift has allowed the rooting of corruption in our societies, businesses and the country at large.

“…if we are talking about corruption everywhere, every day, then that values…every people are defined by their values. What they hold dear. What they are willing to die for. So once you lose your values you are gone. ”, he noted.


Story: Abraham Mensah/Skyy News

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