In its edition of August 14, 2023, the British business and financial daily Financial Times raised a controversy over the “Africa Integrity Fund” created by the African Development Bank (AfDB). This fund, launched in 2016, aimed to fight against corruption on the African continent by financing programs for the prevention, detection and repression of corruption.
However, according to the Financial Times investigation, the funds raised for this project have never been used in the past seven years. Endowed with $55 million from financial sanctions imposed on corrupt companies, the fund should have been a model for other similar initiatives. Unfortunately, the AfDB has admitted that conflict of interest, transparency and implementation issues prevented its commissioning. Thus, it is expected that this fund will be managed by an external institution.
This revelation raises questions about the effectiveness of the AfDB as a financial institution that receives billions of dollars from Western countries for development projects in Africa. Observers question the institution’s ability to implement anti-corruption initiatives and ensure effective use of funds.
This survey highlights the need for better management of financial resources and reform in the fight against corruption in Africa. It is crucial that funds earmarked for the prevention and repression of corruption are used transparently and effectively, in order to promote sustainable development and good governance on the continent.
In conclusion, the “Africa Integrity Fund” established by the African Development Bank unfortunately did not achieve its objectives due to implementation issues. This situation highlights the importance of strengthening transparency and fund management mechanisms in the fight against corruption in Africa