The Majority Leader of Ghana’s Parliament, Hon. Mahama Ayariga, has emphasized that combating corruption is a critical priority in Africa’s quest for economic transformation.
Speaking on the third day of the Africa Prosperity Dialogue,
Mr. Ayariga highlighted the need for stronger legislative measures to tackle corruption, which he identified as a major impediment to infrastructure development and trade expansion under the African Continental Free Trade Agreement (AfCFTA).
Mr. Ayariga warned that corruption weakens infrastructure growth by diverting funds, inflating project costs, and fostering inefficiency in project execution.
He stressed that without decisive action, Africa risks losing billions in investments that could otherwise drive economic integration, job creation, and industrial expansion.
Mr. Ayariga outlined a vision for advancing Africa’s infrastructure, emphasizing the role of transparent legal frameworks in attracting investors and ensuring sustainable development.
He noted that beyond financing, the success of infrastructure projects depends on accountability and good governance to prevent financial leakages.
"Governments alone cannot finance Africa’s infrastructure needs, and corruption makes it even more difficult to attract private investments," he said.
"We must put in place strong anti-corruption measures to ensure that every dollar allocated to infrastructure is used efficiently."
Ayariga underscored the importance of public-private partnerships (PPPs) in infrastructure financing, calling on national and continental institutions—such as the African Development Bank and the Africa Finance Corporation—to integrate anti-corruption mechanisms in their funding models.
To further strengthen accountability, he proposed the creation of a continental infrastructure fund, modeled on the ECOWAS Levy, to finance regional infrastructure and security initiatives transparently.
He also called for greater collaboration among African countries to share expertise and best practices in governance.
Mr. Ayariga urged African governments to enact and enforce tougher anti-corruption laws that enhance project transparency, strengthen oversight institutions, and impose severe penalties for financial misconduct.
He stressed that only through decisive action against corruption can Africa unlock its full trade potential and achieve sustainable economic growth.
"As we work to integrate our markets under AfCFTA, we must ensure that corruption does not undermine our collective progress. Infrastructure is the backbone of economic prosperity, and we cannot afford to let corruption derail our vision for a united and thriving Africa," he concluded.
The Africa Prosperity Dialogue continues to serve as a platform for policymakers and business leaders to address Africa’s economic challenges and advance solutions for long-term development.
Story by: Joshua Kwabena Smith
Comments