If Africa addresses the issue of corruption, there would be more than enough resources to achieve its developmental aspirations as envisaged in the African Union Agenda 2063 and the United Nations Sustainable Development Goals Agenda 2030.

Deputy Prime Minister and Minister of International Relations and Cooperation, Netumbo Nandi-Ndaitwah made these remarks here on Monday during the third Dr Theo-Ben Gurirab lecture held under the theme ‘Winning the Fight Against Corruption: A Sustainable Path to Africa'’s Transformation’ in the capital.

Nandi-Ndaitwah said corruption undermines the very fibre of the ‘Africa we want’ envisioned in the African Union Agenda 2063. The African Union Agenda 2063 is a strategic framework for the socio-economic transformation of the continent over the next 50 years.

The Sustainable Development Goals (SDGs) are a universal call to action to end poverty and ensure that all people enjoy peace and prosperity. Nandi-Ndaitwah said despite Africa’s progress in the fight against corruption, the continent still has a long way to go in addressing the challenge of illicit financial outflows from Africa.

She said a report by the United Nations Economic Commission for Africa (UNECA) showed that there was on average $73-billion net illicit financial flows between Africa and the rest of the world annually between 2000 and 2015. Nandi-Ndaitwah further said that corruption exacerbates poverty and deepens inequality by diverting money needed for healthcare, education and other essential services in society. “

Through weak transparency and accountability mechanisms that allow tax avoidance, trade mis-invoicing, abusive transfer pricing, and many other ways used to deny Africa from reaping its resources’ dividends,” continued Nandi-Ndaitwah.

She said Africa must not relent in its efforts to curb the “ugly phenomenon of corruption.” “Namibia is committed to fulfilling its obligations and will continue to play its constructive role in this collective endeavour,” she added, noting that stamping out corruption is not going to be an easy task, given that corruption always fights back. “

The fight against corruption must go hand-in-hand with sustainable development and strengthening of democratic governance and corporate institutions,” she added.