Africa loses $120bn to graft

Without corruption, African nations could avoid borrowing, but widespread graft forces them to seek loans, deepening economic dependency.

Photo credit: Fotosearch

Africa loses up to $120 billion each year to corruption, a crisis that continues to undermine the continent’s economic independence and development ambitions.

According to the African Union Advisory Board Against Corruption (AUABC), these losses are particularly devastating given that a large portion of the funds lost to corruption are borrowed from international lenders to support development and stabilise fragile economies.