Business News Tue, 16 Jan 2018

Corruption threat to investment – Sam Jonah

Ghanaian business mogul and Chairman of Jonah Capital, Sir Sam Jonah has cautioned government against corruption as he says it is one of the greatest threats to investment and job creation in the country.

According to him, investors critically consider issues of corruption among others when looking for an investment destination.

Sir Sam Jonah said this when he delivered the key note address at the 69th New Year School and Conference of the University of Ghana on Monday, 15 January, 2018.

He indicated that acts of corruption, especially in the public sector is one of the key factors that pushes investors away thereby reducing job creation potentials in the country.

He said: “Nothing is more undermining of investment promotion than corruption. Corruption is corrosive. To discourage investors from corrupt practices, the UK bribery act and the US foreign corrupt practice act has placed serious responsibilities on investors and their agents. Evidence of corruption by investors or their agents attract unlimited fines and imprisonment. Clearly, in this day and age no credible investor will willingly choose to invest in a country where there is widespread corruption…”

He spoke on the theme: “Job creation for Accelerated National Development: The role of the Private Sector”.

Meanwhile, Special Guest of Honour at the event, Vice President Dr Mahamadu Bawumia, said the Akufo-Addo government has shown the greatest commitment to fighting corruption with the appointment of former Attorney General and Citizen Vigilante, Martin A.B.K. Amidu as Independent Special Prosecutor.

According to him, not even the President can shield persons found culpable of corruption.
Source: classfmonline.com
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