Africa gains substantive progress in fighting corruption: economist

KIGALI, April 28 (Xinhua) -- African countries have made substantive progress on reducing corruption, Rwandan economist Donald Kaberuka told Xinhua in an exclusive interview on Saturday.

The fight against corruption in Africa has been slow and arduous for the past decade, but they have now put in much effort to reduce the vice, said the former president of the African Development Bank on the sidelines of the annual Ibrahim Governance Weekend in Kigali, capital city of Rwanda.

Several African governments have established national anti-corruption institutions, said Kaberuka.

The corruption is mainly concentrated in African resources like oil and gas, procurement and areas of public financial management, whose impact on Africa is very high, according to him.

He noted that addressing corruption in a strategic and sustainable way is vital and is a urgent priority for the continent's development, he added.

According to the Mo Ibrahim Foundation, corruption costs Africa over 148 billion U.S. dollars per annum, equivalent to 50 percent of Africa's tax revenue and 25 percent of its GDP.

The three-day event held by Mo Ibrahim Foundation kicked off Friday, which convenes prominent African political and business leaders, representatives from civil society, multilateral and regional institutions as well as Africa's major international partners to debate issues of critical importance to Africa, according to organizers.

Established in 2006, the non-grant making organization focuses on defining, assessing and enhancing governance and leadership in Africa through its four main initiatives including Ibrahim Index of African Governance, Ibrahim Forum, Ibrahim Prize for Achievement in African Leadership and Ibrahim Leadership Fellowships. Enditem