The menace is costing the global economy $3.6 billion dollars – a sum equivalent to more than five per cent of the global Gross Domestic product (GDP).
In developing countries, fund lost to corruption are estimated 10 times the amount of official development assistance, Mr Raphael Godlove Ahenu, the Chief Executive Officer of Global Media Foundation (GLOMeF), an anti-corruption, human rights and media advocacy non-governmental organisation stated.
Speaking at an anti-corruption sensitisation forum held for the Kings Assembly of the Church of Pentecost at Abesim, near Sunyani, Mr Ahenu who is the Secretary to the Sunyani Local Accountability Network, (LANeT) said corruption remained the bane of Ghana’s development.
This is because the menace affected the entire society as a result of inefficient allocation of resources.
LANeT, a local umbrella of Ghana Anti-Corruption Coalition (GACC) organised the forum to commemorate this year’s UN International Anti-Corruption Day.
The UN International Anti-Corruption Day observed annually, on December 9, following the passage of the UN Convention against Corruption on October 31, 2003 by the UN General Assembly to raise public awareness to fighting corruption around the globe.
Mr Ahenu identified lack of political will as the major factor hindering the fight against corruption in the country, and called for concerted efforts among the populace to help stem corruption and facilitate accelerated national development.
He regretted that over the years successive governments had failed the nation in the fight against corruption, saying civil society actors and the media must sit up to expose corrupt officials.
Mr Ahenu said corruption was acknowledged as a major contributory factor to under-development, saying despite several legislative and institutional reforms, Ghana continued to perform poorly on the Corruption Perception Index (CPI).
He observed that corruption remained the root cause of poor public service delivery and poverty, undermines democracy, subverts the rule of law and exacerbates poverty.
It is therefore imperative to galvanise efforts in combating corruption in Ghana.
Mr. Ahenu mentioned corruption as the biggest obstacles to achieving the Sustainable Development Goals (SDGs) across the globe, especially in Africa, saying corruption made societies worse off and lowered the living standards of the population.
At a similar forum for students of Ideal College at Abesim, Mr Ahenu underlined the importance to empower and mobilise the youth in the fight against corruption.