Ghana loses an estimated $3 billion annually to corruption, a staggering amount equivalent to twice the country's yearly foreign direct investment (FDI) inflow of $1.5 billion. This alarming revelation was made by the President of the Ghana Anti-Corruption Coalition (GACC), Beauty Nartey, during the launch of the Strengthening the Rule of Law and Fight Against Corruption in Ghana project.

Speaking at the event, Mrs. Nartey emphasized the need for Ghana to focus on preventing corruption rather than relying on aid. She noted that the country should prioritize freeing up resources for development, especially in light of recent aid cuts from the United States. "What comes into our country as support is only about half of what we lose to corruption. So one may ask why we are not putting more effort into preventing the loss of such a staggering amount," she said.

Corruption remains a significant obstacle to Ghana's socio-economic progress and efforts to eradicate poverty. The GACC president warned that the country cannot continue paying lip service to the fight against corruption and called for harsher penalties and more effective enforcement mechanisms to deter corrupt practices. She also urged the government to adopt the proposed Illicit Enrichment Law, which the GACC sees as a crucial legislative tool in addressing unexplained wealth.

The anti-corruption project launched in Accra forms part of the Participation, Accountability and Integrity for a Resilient Democracy (PAIReD) programme, commissioned by Germany's Federal Ministry for Economic Cooperation and Development (BMZ) and co-funded by the European Union. The €12.7 million initiative aims to build the capacity of public bodies, empower civil society, promote digitalization, and improve data-sharing, transparency, and service delivery.

Ghana's scores on Transparency International's Corruption Perception Index (CPI) have consistently remained below the global average of 50, signalling widespread dissatisfaction with government accountability. Key state institutions, including the police, parliament, tax authorities, and even the presidency, are frequently cited by the public as being among the most corrupt, eroding trust and hampering reform efforts.

To combat corruption effectively, Mrs. Nartey outlined a three-fold strategy for the general public: resist corrupt practices, reject inducements that compromise integrity, and report corruption to the appropriate authorities. "Every citizen has a role to play. Building a culture of accountability starts with each of us," she concluded.

The event was attended by representatives from government, civil society, donor agencies, EU member states, and the media, reaffirming the shared commitment to combat corruption and strengthen Ghana's democratic institutions. As Ghana struggles to address its corruption problem, the country's future development and economic growth hang in the balance.