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Cameroon – Investments: Corruption costs Africa 148 billion FCFA per year

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Written by Deckson N.

This revelation was made at the last global anti-corruption day. At the Ministry of Economy, Minister Louis Paul Moatze took the opportunity to question the staff of his ministry on the need to combat the phenomenon.

Resist the temptation to pay for public services. This is the message passed by Louis Paul Motaze. The MINEPAT took advantage of World Anti-Corruption Day on 9 December to invite his colleagues to adopt behaviors aimed at eradicating the phenomenon.

Returning to this information L’Œil du Sahel, published on December 12, recalls that this year’s reflection focused on the fight against corruption in the investment sector: “Corruption affects the quality of investment: together, Let us fight!

Acts of corruption are indeed a serious blow to investment on the African continent. “According to numerous studies conducted around the world, corruption significantly reduces domestic and foreign investment by discouraging potential investors. IMF research has shown that investments in corrupt countries are about 5% To those in relatively uncorrupted countries. The report of the African Convention on Preventing and Combating Corruption estimates that corruption costs the continent 148 billion dollars a year and that it causes a 20% increase in costs, “said Joël Christine Mbanband , President of the struggle cell Against corruption of MINEPAT.

According to her, “Some studies on the economy of corruption estimate that corrupt officials increase public investment budgets, in so far as they constitute so many possibilities for manipulation by them for their benefit. Corrupt states tend to allocate funds to large infrastructure projects because they offer more opportunities for personal enrichment. These states waste their funds by investing in unproductive and poorly designed projects that will not be sustained. “

In his speech, Louis Paul Motaze underlined the role of MINEPAT in the fight against this scourge. A “ministry in charge of public investment, it is he who lays the foundations for inclusive and sustainable growth through the coordination of investment programs. Its predominantly economic activity is undoubtedly a risk factor. Even if, in the light of the recent report on the state of the fight against corruption in Cameroon in 2014, cases of denunciation concerning MINEPAT remain marginal, several complaints concerning the procurement process have been recorded at the level of Regulatory bodies, “he said.

About the author

Deckson N.

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