Title: The Devouring Shadow: How Corruption Undermines Economic Growth And Social Progress In African Nations
Authors: Dr. ALAZIGHA, FRED EBIPADOU and Dr. AMANAWA, DAVID EBIEGBERI
Volume: 8
Issue: 7
Pages: 94-108
Publication Date: 2024/07/28
Abstract:
Africa has many natural resources, including priceless minerals like gold, diamonds, copper, and oil. These resources have enormous potential to promote development and economic progress throughout the continent. However, severe poverty and underdevelopment still plague Africa, with corruption recognized as a critical roadblock to growth. This paper combines case studies from Nigeria, Uganda, and Zimbabwe to examine the widespread corruption problem throughout the continent. Based on the Prebendal Theory as its theoretical foundation, the research uses a descriptive and analytical historical approach. The study's conclusions highlight the terrible effects of corruption on the continent's growth, with an estimated $60-$100 billion in losses a year resulting from illegal money flows. These flows exacerbate the pervasive poverty by removing funds from socio-economic and political progress. The study concludes by highlighting the detrimental impact of corruption on Africa's growth and providing some suggestions for resolving this problem. These include encouraging the appointment of leaders based on merit, implementing stricter laws against bribery, boosting anti-corruption organizations, including the public and civil society in the fight against corruption, and bolstering the independence of the judiciary and the rule of law. These suggestions will clear the path for an accountable and transparent future in Africa.