FinanceNews

Ivory Coast Loses 1.300 Billion FCFA Annually to Corruption, Says PDCI Executive

Abidjan, Ivory Coast – In a stark revelation, PDCI executive and former Minister of Commerce Jean-Louis Billon has highlighted that Ivory Coast loses an estimated 1.300 billion FCFA each year due to corruption – an amount representing roughly 4% of the nation’s GDP. Billon emphasized that corruption remains a pervasive challenge, impacting public affairs, administration, and the private sector.

In what appears to be a turning point, recent efforts in the fight against corruption are beginning to show results. The country’s performance in the Corruption Perceptions Index improved significantly in 2024, with a score of 45 out of 100 – a notable jump from 40 out of 100 last year, which had placed Ivory Coast at 87th globally.

The Ministry for the Promotion of Good Governance, established in 2021, now plays a central role in coordinating national anti-corruption initiatives. This institutional effort is further bolstered by the High Authority for Good Governance, which is actively implementing concrete measures on the ground to address the issue.

Looking ahead, the government has set ambitious targets. The National Strategy for the Fight Against Corruption aims to push the country’s score to 50 out of 100 by 2027. “We need to tackle the biggest fish as I did when I was at the Ministry of Commerce,” Billon remarked, underscoring the urgency and scale of the reforms underway.

Structural changes continue to reshape both public administration and the private sector. Strengthening the legal framework alongside heightened awareness initiatives are central to the nation’s strategy in combating corruption, paving the way for more transparent governance and sustainable economic growth.

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