Speaking at the 32nd Ordinary Session of the Executive Council of the African Union, Chairperson of the African Union Commission, Mr. Moussa Faki Mahamat has disclosed that a $50 billion is lost annually to corruption and Illicit financial flows in the continent.
Mahamat expressed concern that the continent has continuously relied on external assistance because of huge financial loss through corruption.
The Executive Secretary of the United Nations Economic Commission for Africa (ECA), Ms. Vera Songwe, underlined the need for African countries to collectively conquer corruption. Songwe added that it is only through this that the continent can achieve lasting independence and sustainable development.
Mahamat expressed concern that the continent has continuously relied on external assistance because of huge financial loss through corruption.
The Executive Secretary of the United Nations Economic Commission for Africa (ECA), Ms. Vera Songwe, underlined the need for African countries to collectively conquer corruption. Songwe added that it is only through this that the continent can achieve lasting independence and sustainable development.
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