More Sand Than Oil: Sub-Saharan Africa Stands to Gain More From Reducing Corruption Than Any Other Region
11-10-2019
A new wave of leaders in sub-Saharan Africa has expressed renewed commitment to fighting corruption. This trend reflects a recognition that good governance is key to fostering growth and economic development. The link between growth and governance is especially strong on this resource-rich continent, where people stand to gain more economically from reducing corruption than anywhere else in the world.
Our research shows that the governance dividend for countries in sub-Saharan Africa is two to three times larger than for the average country in the rest of the world—even in regions perceived to have equally weak governance. Bringing sub-Saharan Africa’s governance to the world average could increase GDP per capita by an estimated 1 to 2 percentage points a year.
Low corruption and good governance are not the sole drivers of growth, of course. Some countries perceived as having weak governance have experienced episodes of strong growth driven by other factors—for example, natural resource wealth. In other cases, countries with good governance have not necessarily enjoyed strong growth. But we find that corruption tends to undermine economic growth, behaving more like sand than oil in the economic engine.
The governance landscape varies significantly around the world, with most developing regions performing poorly. Sub-Saharan Africa is a case in point: only 2 of the 30 countries from the region included in the International Country Risk Guide’s 2017 governance index scored above the average for the rest of the world (see chart).
Some African governments are already showing a clear commitment to fighting corruption and strengthening governance. For instance, various segments of the South African government apparatus and institutions were made subservient to a select group of people during the so-called state capture episode. Since 2018, the government has been engaged in a bold fight to reverse the damage by improving procurement, fighting, smuggling, and rebuilding the capacity of critical institutions such as the revenue authority and the anti-corruption agency.
Similarly, Angola had lost control over billions of dollars from its sovereign wealth fund. The money was siphoned off by a rogue fund manager, with others complicit, through complex financial transactions moving through offshore financial centers and invested in ventures of personal interest. The new Angolan government elected in 2017 changed the management and placed the previous management under investigation. The fund’s assets have since been recovered and are now being reinvested for the benefit of the Angolan people.
In other instances, however, retrograde processes such as kickbacks in the allocation of uncompetitive oil and gas contracts and the expropriation of private assets are still in place, undermining the sanctity of property rights and the rule of law, with damaging effects on investment and growth. In a few cases, the independence of central banks is under attack from politicians seeking expedient solutions to finance the budget or boost growth through monetary easing instead of reforms.
Improving governance is difficult, as the beneficiaries of corruption often fight back. It is a complex, drawn-out battle among the various players—government, institutions, civil society, media, and the private sector. Strong political commitment is thus an absolute requirement for success.
Conventional policies
From an economic perspective, there are some basic principles that apply across countries and can boost governance, such as strengthening laws, improving government effectiveness, and shoring up fiscal and anti-corruption institutions.
In countries such as Botswana, Chile, Estonia, and Georgia that have managed to lower corruption, multiple factors contributed to their success. These include political will, measures to reduce corruption opportunities (such as cutting red tape and lowering trade barriers), measures to constrain corrupt behavior (such as an independent judicial system or a strong anti-money laundering framework), and improved fiscal institutions (with greater transparency and controls).
Building expertise and empowering employees in institutions designed to fight corruption will improve their prosecution capability and bridge the gap between public opinion and the court of law. Corruption prosecution cases often fail when governments lack adequate legal capacity. Enhancing corporate governance and a system of checks and balances, particularly through a better governance structure for state-owned enterprises, will also help.
How is governance measured?
Governance is a multifaceted issue cutting across politics, economics, and institutions. The indicators with the most significant economic ramifications include corruption (abuse of public office for private gain), government effectiveness (quality of public policies and services), regulatory quality (ability of the government to formulate and implement business-friendly policies and regulations), and the rule of law (respect for contract enforcement, property rights, and law enforcement).
Bringing the various governance dimensions into one indicator can be challenging, as aggregating subjective measures may not fully capture the reality on the ground, either due to cultural differences—corruption in one country may be a customary practice in another—or the fact that distinct attributes of governance are lumped together in one indicator. While corruption perceptions tend to be the main component of interest, most measurements are broad enough to be useful proxies for the quality of political institutions, government regulations, and policies.
Institutional reform takes time, but more rigorous enforcement of existing regulations would be a step in the right direction.
Digitalization is opening up new ways of fighting corruption by providing governments with new platforms for engaging with citizens and entrepreneurs. It also promotes greater transparency and accountability by facilitating access to information. Many African countries are using this opportunity to improve service delivery and governance in a variety of ways.
In the area of taxation, for example, electronic processing of tax submissions, refund payments, and customs declarations saves time and lowers costs—as well as reducing corruption opportunities. Data analytics make risk-based auditing possible, allowing for faster processing of tax claims.
Digitalization can also improve spending efficiency. Biometric technologies and electronic payment systems are helping cut bureaucratic inefficiencies, better target people in need, produce fiscal savings, and facilitate the delivery of benefits. People are using digital payments—for example, for school fees—to reduce the scope for fraud and corruption by bypassing public officials.
Digitalization can also make procurement more transparent, inclusive, and efficient. Centralized procurement can reduce conflicts of interest and abuse, including at the level of state-owned enterprises, provinces, and local governments.
Concrete benefits
What exactly would this governance dividend mean for the people of sub-Saharan Africa? Better governance and less corruption would result in more revenue for the government, more efficient use of this revenue, increased private investment and job opportunities, and more money to spend and invest in services vital to long-term development, such as health and education. We would expect it to bear fruit in a few different ways
● Enhanced revenue collection through improved tax compliance. Customs and revenue authorities are better able to combat smuggling and illicit flows when tax officials adhere to strong governance principles. Citizens are more likely to pay their taxes when they trust the effectiveness of government spending.
● More efficient government spending thanks to stronger budgetary processes. Good governance reduces the risk of harmful shifts in government spending toward items subject to graft (white elephants, for instance).
● Improved developmental outcomes and social inclusion. More revenue overall means governments can spend more on their people. Improved governance is likely to benefit the poor disproportionately as they rely more on social services. And increased spending on education and health supports economic and social inclusion and reduces vulnerability.
The continent is at a turning point, reflecting a confluence of factors. A young population with access to real-time information through digitalization and open-access data is demanding transparency and accountability from elected officials. Moreover, to attract foreign investment and integrate with the global economy, countries will need to adhere to good governance principles. Irrespective of the path countries choose to improve governance, the dividends that result will be significant and worth pursuing. Good governance is more relevant than ever.
NELSON SOBRINHO and VIMAL THAKOOR are economists in the IMF’s African Department. This article is based on IMF Working Paper 19/1, which the authors produced jointly with Amine Hammadi, Marshall Mills, and Ricardo Velloso.
Source (online): https://www.imf.org/external/pubs/ft/fandd/2019/09/tackling-corruption-in-sub-saharan-africa-sobrinho.htm
Source (offline): B&FT issue No 2955 Tuesday 8th of October page 13
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- Invitation to The 2nd Ghana-Malta Business Forum, 2 March 2020
- Ghana Business Star Growth Program 2020
- The High Potential for Solar Energy in Ghana
- Investcorp Market Review - 17th February 2020
- EU GRA Meeting
- African Trade and Investment Summit
- Orange Corners Graduation (And Presentation of the Second Cohort)
- Taxpayers in Ghana to hit 16 million by close of the year - Bawumia
- Rechter: 'Automatisch verlies Nederlanderschap in strijd met Europees recht' (In Dutch)
- MDF West Africa Training
- Customer Experience Transformation Training
- Trade Minister Signs Bad UNIPASS Deal
- Special Prosecutor Begins Probe into Airbus Bribery Scandal
- Investcorp Market Review - 14th February 2020
- February Cocktail Postponed to July
- Ghana's Economic Outlook 2020 GGEA
- Orange Corners Graduation (And Presentation of the Second Cohort)
- Ghana’s Cedi is the Best Performing Currency in the World Against the US Dollar – Bloomberg
- NEW MEMBER: Field Media & PR Ghana
- 2019 Deficit Overshoots Target, Economists Fault Poor Revenue Inflows
- Ghana Business Star Growth Program 2020
- Ghana’s Controversial Change in Trade Facilitation Processes
- Vivo Energy Ghana at Mining Indaba 2020
- Investcorp Market Review - 7th February 2020
- New Dates: The 3rd Edition of the Dutch Export Academy
- Last Year's Movie Publication on Joint September GNBCC-GSABC event
- SLNBCC Newsletter Vol. 24 - January 2020
- Global Democracy in Retreat
- Government Won’t be Lured into Operating Outside Budget - Bawumia
- Don’t Generalise Pronouncements on Corruption-President Urges Diplomatic Community
- Neoplan shutdown aborted: Government intervenes
- Ghana Plans VAT Automation To Improve Compliance, Revenue Performance
- Importers Worried over UNIPASS Takeover
- Investcorp Market Review - 31st January 2020
- GNBCC’s GM Visits Sierra Leone
- New Dates: The 3rd Edition of the Dutch Export Academy
- Job Vacancy - ICT Coordinator
- Ghana: Year In Review 2019
- Dutch NGO Agriterra Opens Ghana Office
- Flash Tax Alert-KPMG
- Ghanaian Products will Feature Strongly in the Global Market Place - Akufo Addo
- Investor Readiness Workshop Series
- International Atomic Agency Impressed with Country Progress
- Investcorp Market Review - 24th January, 2020
- GNBCC’s New Year’s Cocktail Sponsored by the Royal Netherlands Embassy
- GNBCC Board Member, Shirley Kum, Ranked in Top 10 PR Women in Ghana 2019
- Government Must set Lower TargetS for Inflation – IMF
- Job Vacancy: Sales Manager - East and West Africa
- Op papier is de Afrikaanse Vrijhandelsunie Héél Mooi
- Unprecedented Rise Of Crew Kidnappings In Gulf Of Guinea
- Investor Readiness Workshop Series
- RMG (Wienco) 2020 Calendar
- Ghana Ranked 3rd Among 10 Most Corrupt Countries by Perception
- Investcorp Market Review - 14th January, 2020
- GNBCC New Year Cocktail
- Why Are The Dutch So Unbelievably Rude?
- Ghana To Become Africa’s 3rd-Fastest Economy At 6.8% In 2020 - World Bank
- 1st Newsletter of SNBN - In Dutch
- Ghana Likely To Be Caught In Overspending Quagmire – Economist
- Dutch Government Ditches Holland To Rebrand As The Netherlands
- GNBCC Membership Invoices 2020
- Who Can Afford A Kantanka Car?
- Investcorp Market Review - 10th January, 2020
- GNBCC Office Closed for Christmas Break - 23rd December 2019
- Premium Member Business Breakfast with GIPC’s Mr Yofi Grant & PwC 's Vish Ashiagbor
- LNBCC Newsletter-October 2019
- The 3rd Edition of the Dutch Export Academy
- IMF Worried about Ghana's Debt Position
- LNBCC Newsletter-December 2019
- Third Quarter GDP Growth Drops to 5.6 Percent
- SLNBCC Wishes A Merry X-Mas
- Cedi Records Biggest Fall in 4 years
- Vivo Energy CSR and Shell Club Win Top Industry Awards
- Last Cocktail of the year @ Wienco / RMG
- SLNBCC Newsletter Vol. 22- November 2019
- 6th West Africa Agro Food Fair held in Accra
- The 3rd Edition of the Dutch Export Academy
- New Companies Act will Improve Business Climate – Chief Justice
- World Bank Launches a New Report on Productivity and Economic Diversification
- New Players to Even out Africa’s Investment Battlefield in 2020
- NBC 2020 - Companies Can Now Register to Participate in the 2020 edition!
- "It's sad" Corruption Fighting back at Domelevo, Amidu – Danish Amb.
- Investcorp Market Review - 13th December, 2019
- GNBCC Cocktail Hosted By Wienco Ghana Limited
- Agro Food West Africa Fair (6th Edition)
- The 3rd Edition of the Dutch Export Academy
- Textile Industry Workers Commend GSA over Crackdown on Fake Textiles
- Breakdown Of Issues Relating to The Unstuffing of Containers at Terminal 3 in The Port Of Tema
- Police Still Top Corruption List - Study
- Dutchmen outside The Netherlands will get influence on the Dutch Senate (article in Dutch)
- ‘Name and Shame Bribe-Givers too’—PPA Board chair …as Procurement Experts call for Legislation
- Invitation to Accra Arts Week
- Investcorp Market Review - 5th December, 2019
- GNBCC Office Closed for Strategic Team Meeting - 5th December 2019
- GNBCC Cocktail Hosted By Wienco Ghana Limited
- Agro Food West Africa Fair (6th Edition)
- Cargill Invests $16.4m In Cocoa Sector
- New Dutch Africa Strategy
- CIFG Transport & Logistics Conference
- ‘GWCL Revenue Dipped Due To Softtribe’s Billing System Problems’
- Information on Visa Application from the Royal Netherlands Embassy - Consular Affairs
- Trotro Driver Wins First Car in Shell 'Get More Promo'
- Kotoka International Airport Ranked Best Airport In West Africa
- Investcorp Market Review - 29th November, 2019
- GNBCC and Orange Corners Ghana organized workshop ‘Essentials of Marketing for Entrepreneurs’
- 4.7% Budget Deficit Will Be Difficult To Achieve - Prof. Quartey
- PwC Post-Budget Forum 2020
- Is Gov’t 6.8% Growth Target Realistic?
- KPMG 2020 Budget Forum
- Telcos Request For Audit Report On Alleged Tax Under-Declaration
- CCI France Ghana Presents Transport & Logistics Conference
- Forget Skytrain, Revamp Western Rail Line – Railway Workers
- GNBCC Cocktail Hosted by Agrona & Comexas in Tema and Dutch Entrepreneur Day Award Ceremony
- PharmAccess Country Director Appointed Member of WHO Roster of Experts on Digital Health
- Budget 2020! When Promises Clash With Fiscal Discipline …Amid Significant Revenue Shortfall
- Discovering Italian Street Food Fair
- Gov’t Targets More Fdis …GIPC To Be Strengthened To Lead
- Dit Is Het Nieuwe Logo Van Nederland
- PDS: Government shouldn’t rush into a new concession agreement
- Ghana Signs $2.3bn Concession For Skytrain Project, First Station To Open In Nine Months
- Red Sea Housing Services
- Regulatory Reform Programme Will Improve Ghana’s Business Atmosphere - Akufo-Addo
- People’s Pension Trust picks up Pension Innovation Award
- GNBCC Member Announcement
- We Expect No New Taxes In 2020 Budget – Finance Committee
- Laat onze één miljoen ambassadeurs zelf nationaliteit kiezen
- Holland And Ghana, Hiking And Growing Together
- Frequent Changes To Tax Laws Worrying – Economist
- GNBCC Cocktail Hosted Yesterday by Vivo Energy Ghana
- Paying Taxes Complicated And Costly In Ghana – Doing Business Report …As Economy Slips To 118 In Ranking
- Pictures of the Joint GNBCC/GSABC Cocktail
- Philips Ghana
- Milking The State …Airport Immigration Officers ‘Pocket’ Visa On Arrival Cash
- Announcement for GNBCC Members
- Our Accra Offices Have Been Reopened - Pasico Ghana Limited Press Release
- Allianz Ghana: The Number One Insurance Brand in the World
- IMF Urges Govt To ‘Tighten’ 2020 Budget To Help Contain Debt Build-Up
- KPMG 2020 Pre-Budget Survey Report
- West African Clean Energy & Environment Trade Fair & Conference 2019
- ECG Officially Takes Over From PDS
- The Ghana Business Star Growth Program 2019
- Accra Mall To Shut Down For Hours
- Ghana Design Network Presents: Women In Design- Friday, 25th October 2019
- Hapag-Lloyd Declares Tema Port As Transshipment Hub In West Africa
- B&P Associates Mark 5th Anniversary
- 40% of Every Cedi Collected Goes to Settle Interest Payments – IMF
- Getting Your Business Investor Ready: Identifying Sources of Financing
- We Can’t Ban Textile Imports – Deputy Minister
- GNBCC Cocktail Hosted by Vivo Energy Ghana
- SLNBCC Newsletter Vol. 21- September 2019
- More Sand Than Oil: Sub-Saharan Africa Stands to Gain More From Reducing Corruption Than Any Other Region
- New Member: Maiden Environmental Services
- Maxmart: Your Destination for Quality
- Finance Ministry Insists Telcos Must Backdate CST Implementation
- Vivo Energy Leads Road Safety Education in Basic schools
- Job Search: Agribusiness Background
- Discussion on Double Nationality / Brexit (in Dutch)
- For Every GH¢1 Tax Collected, 84 Pesewas Pay Debt – Prof. Kusi …Tax System Needs Restructure
- Investcorp Market Review - 11th October 2019
- KLM Airlines To Mark Its 100th Aviation Anniversary With A Celebration In Accra
- Electricity And Water Tariffs Go Up
- West African Rescue Association (WARA): The Next Life We Save Could Be Yours.
- Ghana-Netherlands Irrigation Seminar - 10th October 2019
- Cedi Records A Year-To-Date Depreciation Of 9.33% To The US Dollar
- Getting Your Business Investor Ready: Identifying Sources of Financing
- Gov’t Must Break Barriers To ‘Ease Of Doing Business’ In Ghana
- Investcorp Market Review - 4th October 2019
- Education in Ireland Education Fair - Accra
- Reduction In Benchmark Values Fails To Lift Imports - Report
- New GNBCC Members: Cocoanect Ghana & Beaver Clinic Ltd
- Tax Hikes, Inflation Headwinds, Stay Policy Rate & Persistent Gov’t Revenue Shortfall Worrying - Study
- Vivo Energy Ghana Supports ‘My First Day at School’ Programme
- New Development On Double Nationality Due To Brexit (In Dutch)
- Government’s Shut Down Of Akwatia Mine Is Illegal — Jospong Fights Back
- Record Turnout at Last Nights Joint GNBCC/GSABC Cocktail
- Review Minimum Investment Capital Requirement - World Economic Study Urges Gov’t
- Economic Growth Slows For 3rd Straight Time
- GRA To Clamp Down On Tax Defaulters
- Introduction PAIX Data Centres