The Board Chairman of the
Ghana Integrity Initiative (GII), Elsie Bunyan, has observed that the main
challenge to good governance, growth and development of the country is the
menace of corruption that continues to impede its effectiveness.
“Corruption is a challenge in realising the United Nations Sustainable Development Goals by 2030 and it behooves on the government and private sector to do an introspection to adopt the three prompt approach consummated by Transparency International to fight corrupt practices,” she noted.
She explained that Transparency International estimated that $1.26 trillion was lost to developing countries annually, through cross-border corruption, foreign bribery, tax evasion, money laundering and related illicit financial flows.
Mrs Bunyan made the observation at the maiden multi-stakeholder integrity breakfast meeting held for representatives of trade associations, public sector organisations, and civil society organisations in Accra.
It was organised by GII with sponsorship from the Embassy of the Kingdom of Netherlands on the theme: ‘Promoting Business Integrity and Anti-Corruption in Ghana – The Role of the Private Sector’.
Mrs Bunyan tasked companies to take internal steps to prevent corruption by having zero tolerance policy and programme towards bribery and corruption, which should be enforced through an anti-bribery code, business principles for countering social vices.
“Companies need an honest operating environment as well as ensure government-enforced international anti-bribery laws and conventions to protect them from corruption across borders and down the supply chains.
“There is also platform for stakeholders to identify emerging issues hampering progress of private sector and ease doing business in the country to map out strategies of policy, advocacy and reforms,” Mrs Bunyan revealed.
Nana Osei-Bonsu, Chief Executive Officer of Private Enterprises Federation, said businesses registered in the country paid high premium on administrative corruption, another negative impact of corruption on businesses was unnecessary delays by service providers, licensing, incompetence of staff, sluggishness, lack of resources of some agencies prevention from working effectively and efficiently.
Katja Lasseur, the Deputy Ambassador for Netherlands, said chief executive officers and companies had to join forces with government to create solutions in the fight against corruption and pledged Netherlands continuous effort in championing the elimination of corruption in the country. -GNA