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Pravin Gordhan, Minister of Finance. Photo: Matthew Jordaan.
Corruption exists in every country, it is just a question of degree, Finance Minister Pravin Gordhan said at a meeting convened by Brand SA together with TIME magazine at the World Economic Forum in Davos.
In a statement on Tuesday, Brand SA said it had brought together global leaders from business and politics at Davos to discuss the role of Africa in global transformation.
“In Africa, it [corruption] is an issue and one we take seriously. I believe there is an obligation on investors in Africa to help create a better climate,” Gordhan told the meeting.
“I am hopeful that we will challenge it more as new leaders emerge in business and politics.”
The event also featured Geoff Riddell, Chairman of Global Corporate & CEO Asia Pacific and Middle East at Zurich Financial Services and TIME's international editor, Jim Frederick.
The session, which focused on Africa's role in an increasingly multi-polar world, reached a consensus that infrastructure development, the removal of trade barriers, more sophisticated financial markets and shifting from distributing raw commodities to exporting modified commodities were key conditions for creating more diversified economies across the continent.
“There is a huge opportunity for the continent to start picking up dividends as China moves up the value chain and releases jobs, enabling African countries to outbid countries like Vietnam for these jobs,” Gordhan noted.
“However, people won't come to Africa just because it's Africa, we need to create the opportunity for people to partner; that is the great transformation. In the near future, we will need to create jobs for a billion people and we must ensure that there is political will, the institutions and infrastructure that enable us to move into the next epoch of developments and bringing more value to our exports, for example beneficiation.”
Panellists remarked that because of its size - both in terms of population and land mass - development in Africa needed to be considered at three levels: country, sub-regional and pan-regional.
“The more we get cross-country initiatives, the more we get rid of some of the curses like over-politicisation and corruption,” Riddell said.
Echoing this sentiment Gordhan added: “Only 10% of African trade happens in Africa, in Europe this figure is up near 60%. We need Africa to invest in Africa.”
Gordhan also noted that while the global economic crisis had put pressures on Africa, the current situation in Europe had presented Africa with an opportunity to learn and improve on regional economic integration.
“The world is looking at itself and saying multi-polarity is a reality. The recent crisis has shown us that despite the euro, in terms of identity, policy and financial structures, sub-regions in Europe still exist,” the minister stated.
Regarding corruption, Riddell pointed to the impact corruption indices had had on governments in the Middle East. He believed the same effect was taking place across Africa.
Riddell added that cross-border trade had less corruption, and noted that with an increase in regional economic integration he expected to see a parallel decrease in corruption.
“The economy is going in the right direction. It will keep doing so, there will be bumps on the road, but Africa is where we see balance and growth in our corporate portfolios.” - I-Net Bridge
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Ron's, wrote
Mr Gordhan - you are aware of all the corruption and theft of public funds in SA but you don't seem to be doing anything. You are frightened to upset the apple cart as you are raking in millions yourself if you are competent minister you should recover all monies stolen and those involved should be charged jailed and monies stolen recovered . The irony of the matter is that all the countries that are represented in this conference are the same countries that are responsible for the financial mess that we in and they are meeting to discuss how they can get out of it
Anonymous, wrote
Quite sad how the ANC has caused so much hatred, distrust and anger in this country, this beautiful country with beautiful people, it really is saddening. Then this potato head comes along and lies again for his crooked masters, he gets paid millions that we know of to be a spin doctor. He is a finance minister like I am. He is simply a tool to make corruption seem like priority no.1 while he watches billions being taken from municipalities and does nothing. He isnt doing his job at all and should be removed but again inept ministers are those most treasured by a corrupt govt. who thinks the more dumb the person for the job is, the less eductaed he is the less questions he will ask and the less he will see. Mr G is the master puppet in the money eating machine that is the African National Corruption regime.
John, wrote
Up until this dismal display I respected the finance minister & felt some hope. That's gone.Gordhan is nothing more than a talking head for an [allegedly] utterly corrupt and incompetent regime. Our wonderful country and all it's people deserve so much more than this.
Anonymous, wrote
Yes Mr G (The account of the [allegedly] corruption mafia) - If you so serious why has not a single person that is in govt. been to jail for more than week? 100% of the ANC has [allegedly] stolen something from public funds. Press charges and recoup money and maybe you wont go down in history as the [allegedly] corrupt accountant who serves his masters and sold his soul to the Zuma clan.
Anonymous, wrote
And you Gordhan have done nothing beneficial or real to curb it. What happened in Limpopo and now Natal is your responsibility, you should have made heads roll last year already and now the country has lost at an absolute minimal between these 2 provinces R4Billion in a year. Whay were you not on top of this? Why have you not asked questions and charged those responsible with criminal proceedings? Just another [allegedly] ANCourrpt minister, all talk, no action.
Anonymous, wrote
MC, wrote
Frank Hartry, wrote
There they go again. There was once a regular saying by the ANC that 'there is crime in every country' now it is 'there is corruption in every country', Thus this little man Gordhan with his words has opened the door for even more looting of the state coffers. by his own ANC led government. As a poor trolley pusher at a supermarket said only today, 'these politicians in South Africa are without God'.
Bas, wrote
You are right. It is a matter of degree but also a matter of rate of deterioration. On both fronts and by global standards we can hardly measure ourselves favourably.
Sinies, wrote
We like your words, however if we look at the ANC's actions, these words are hollow, devoid of any action of substance.
Anonymous, wrote
Corrupt officials are suspended for years on full pay and then reinstated or redeployed elsewhere without ever having to pay back the ill-gotten gains or being punished. If this is the way Mr Gordhan and the ANC government takes corruption seriously, then there is no hope and every honest potential investor will laugh at South Africa. If anybody is interested in investing, why look at Africa where you lose 20% of your money upfront through bribery- rather go elsewhere where you don't have to pay anybody to create jobs in their country.
jonno, wrote
And racism also exists in every country, it is also just a question of degree. But in South Africa we don't condone that..in fact we use it as an excuse to be corrupt!
Corrupt minds, wrote
Shame Gordhan you need to say what you get told to say. It is getting worse the government protect corrupt officials, corrupt politicians are above the law, they do not go to jail they get pardoned. Limpopo was milked and it is acceptable. As long as government do not root out corruption and very soon we will end up like the rest of Africa. The protection bill all these laws are there for some people to benefit. What happened to our democratic rights. Teh ANC wants the media to stop reporting on these problems, they want to steal in silence...
George, wrote
Given that humans roam every country, corruption is a given. In Africa & specifically SA, the ANC gov has spawned the perfect breeding ground for corruption and in so doing has set the prime example, degree & pace Corruption occurs when societal mores, norms, mechanisms and institutions (not least, that of justicecorrective) collapse, as is the case with SA (how much more so in darkest Africa?) There can be no political will to take the range of counter-measures imperative to reverse or stall corruption, when the 'fox minds the henhouse' So, Mr Gordhan, it is a matter of differentiation by degree and cripes, in this neck of the woods, we are in doctorate country, as to degree! An example is Sweden vs India. What does not help is the existence of a very wide, bottom-heavy social strata like SA;s. Only total commitment to total integrity through total effort, will make the requisite improvement. Expel the fox I say!
Anonymous, wrote
MsLee, wrote
"Corruption exists in every country, it is just a question of degree." That would be the point ...
Francesco, wrote
Yes, Mr Gordhan. But please do not use that banal phrase to hide the fact that SA is plagued by corruption and nepotism and favouritism.
jrg, wrote
Anonymous, wrote
Pravin is just big talk with no action. When he delivers the budget speech , you will here about how he is going to get tough and put controls in place. Instead we have more corruption , in my opinion , he should give up his post. He is not doing a good job , which should be looking at how finances are being used and protecting the budget from elements of corruption. Also the president should not be providing jobs for pals becuse this leads to corruption.
lehlogonolo, wrote
Well Minister Gordhan, you know who the corrupt people are, so why are they then still in their jobs?
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