World Bulletin / News Desk
The African Union chairman on Friday warned that excessive corruption in the continent was undermining gains made by Africans.
AU Chairman Moussa Faki Mahamat made the warning in his message to mark Africa Day -- an annual event that celebrate the creation in 1963 of the Organization of African Unity, which then morphed into the African Union (AU).
Mahamat said the recently-ratified African Continental Free Trade Area and the creation of a single aviation market were notable AU achievements.
However, corruption was now threatening to undermine the gains made in the continent.
“The fight against corruption is of crucial importance” for Africa, he said.
Illicit financial outflows account for an estimated $100 billion annually in Africa.
The AU chairman said corruption is deviating necessary resources for social amenities such as electricity, water and sanitation services.
In spite of the challenges posed by corruption, there were reasons for hope of a bright future in Africa, he added.
“Despite the global downturn, several African countries are the world’s fastest growing economies,” he said, noting the increase in industrialization.
Güncelleme Tarihi: 25 Mayıs 2018, 17:49