• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, November 11, 2026
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result
in Top Stories

Ghana loses over US$90 billion to corruption- Abdul Moomin Gbana

Maynard Championby Maynard Champion
December 2, 2020
Reading Time: 3 mins read
Add as Preferred on Google
Workers at a mine

Workers at a mine

The General Secretary of the Ghana Mine Workers Union, Abdul Moomin Gbaana, on behalf of the Union has expressed great displeasure in the uninspiring attitude of governments’ towards the fight against corruption and corruption-related offences.

He said this during the second half of the National Executive Council meeting held today in Accra.

According to him, the menace of corruption goes as far back as the beginning of this 4th republic, and has further gone beyond taming in recent times.

“In fact, given the spate of corruption and aborted corruption scandals since the 4th republic, and the notoriety it has gained in recent years and the debilitating impact of the Ghanaian society and by extension the continent of Africa, reinforces the urgent need to confront this deadly cancer head-on.”

Albud ghana news compressed
Abdul-Moomin Gbana, Gen. Secretary of the Ghana Mine Workers Union

He explained that this is not just a domestic evil, but that it is common-place in all of Africa. He further states that, African States lose about 25% of the GDP or an equivalent of US$148 billion to corruption every year.

ADVERTISEMENT

“A billion dollars is a lot of money, so if you have close to about a US$150 billion lost to corruption on the African continent every year, it’s a very gory situation,” he reiterated.

For Ghana, more than US$3 billion is lost to corruption every year based on IMANI Africa’s findings, he noted.

Considering IMANI’s findings thereof, he estimates that Ghana has lost in cumulative terms a whooping amount of over US$ 90 billion to corruption since the 4th republic, with the governance of the State having alternated between the two major political parties- NDC and NPP.

“Interestingly, both parties are up again for elections in the next couple of days and it is obvious from the trends so far, that one of the two will emerge winner in the general election come December 7, 2020, unless a miracle happens.”

“This means that the lesser of the two evils is likely to win and therefore the vicious cycle of corruption continues unabated,” he added.

The trajectory of corruption is nothing to be proud of as a country, as it has been galloping year-on-year. According to Transparency International, Ghana’s Corruption Perception Index (CPI) since 1998 averages approximately 39.0% and with an increasing trend.

CPI
Source: TradingEconomics.com | Transparency International

READ ALSO: Longer Periods Of Tackling Corruption Due to Lack Of Comprehensive Data- Dennis Asare

ADVERTISEMENT

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

Tags: africaCorruptionCPIghanaMines
Please login to join discussion
Previous Post

EU Chief Negotiator unsure of Brexit deal

Next Post

Joint Africa Gender Index report launched

Related Posts

Artistic impression of the $98.41 million Berth 19 expansion project at Takoradi Port, featuring a 300-metre facility designed to accommodate vessels of up to 75,000 deadweight tonnes.
General News

Mahama Cuts Sod for $98.41m Takoradi Port Expansion

November 10, 2026
World Bank Uncovers Gaps in Ghana's $5.4bn Debt Restructuring Progress
Economy

World Bank Uncovers Gaps in Ghana’s $5.4bn Debt Restructuring Progress

November 10, 2026
Minister for Energy and Green Transition, John Abdulai Jinapor, a guest speaker at FEC 2026
Extractives/Energy

Ghana Targets Six New Petroleum Deals By 2027

November 10, 2026
President John Dramani Mahama
Extractives/Energy

Ghana Announces New Offshore Discovery At Nya Gyidie Well

November 10, 2026
ADVERTISEMENT

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

ADVERTISEMENT

Recent News

Screenshot 20261111 103343 Lite

Lapaz Faces New Trading Restrictions as AMA Clears Roads

November 11, 2026
United Nations

UN Urges New Approaches to Curb Asia-Pacific Poverty Crisis

November 11, 2026
Deputy Director of Public Health Dr Moses Barimah Djimatey

Eastern Region Targets 134,774 for Onchocerciasis Drug Campaign

November 11, 2026
Presidential Advisor on the Economy, Seth Terkper

Presidential Economy Advisor Urges Mining Firms to Explore Domestic Capital Market

November 11, 2026
Energy and Green Transition Minister Dr John Abdulai Jinapor

Voltaian Basin Drilling Opens New Chapter For Ghana

November 11, 2026
ADVERTISEMENT
Next Post
Joint Africa Gender Index report launched

Joint Africa Gender Index report launched

The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Ok

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.