Corruption is a global problem and a serious drain on economic and human development in Africa. Corruption undermines democratic institutions, retards economic development and contributes to government instability. Corruption attacks the foundation of democratic institutions by distorting electoral processes, perverting the rule of law, and creating bureaucratic dilemmas whose only reason for existence is the soliciting of bribes. Economic development is stunted because outside direct investment is discouraged and small businesses within the country often find it impossible to overcome the “start-up costs” required because of corruption.
According to Kofi Annan, the former UN Secretary-General who stated during the adoption by the General Assembly of the United Nations Convention against Corruption as follows: “Corruption hurts the poor disproportionately by diverting funds intended for development, undermining a government’s ability to provide basic services, feeding inequality and injustice, and discouraging foreign investment and aid”.
BAAC is founded on the view that corruption can only be tackled if co-operative alliances are built involving business, government and civil society, and if these are driven by key stakeholders inclusive of Africa’s business and government leadership.
BAAC’s objective is to identify and implement “winnable” reforms in 15 African countries to help support economic growth and improved service delivery for approximately 200 million of the continent’s most vulnerable citizens. BAAC also works with continental structures to strengthen the role of the private sector in improving governance.
The recent addition of an anti-corruption principle to the UN Global compact endorsed by 1 700 members illustrates the increasing importance of the private sector’s role in the global fight against corruption.
BAAC is founded on the view that corruption can be effectively managed through cooperative alliances between key stakeholders such as business, government and civil society.
Commonwealth Business Council (CBC)
African Institute of Corporate Citizenship (AICC)Malawi