Senegal Embarks On Anti-Corruption Drive To Attract Investors
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Senegalese President Macky Sall, who won a March 25 presidential election to end a 12-year rule by Abdoulaye Wade, has begun auditing several government institutions and programs suspected for misuse of public funds and reckless government spending, reported Bloomberg News on Saturday, in a move said to be directed at restoring investor confidence in West Africa’s second largest economy.
Senegalese President Macky Sall, who won a March 25 presidential election to end a 12-year rule by Abdoulaye Wade, has begun auditing several government institutions and programs suspected for misuse of public funds and reckless government spending, reported Bloomberg News on Saturday, in a move said to be directed at restoring investor confidence in West Africa’s second largest economy.
According to the report, the president has closed 59 state institutions thus far for alleged corruption claims; and is believed to have already launched independent investigations into all members of the former Wade regime – including Sall himself, who was prime minister from 2004 to 2007, and Wade’s son Karim, who was the energy minister in charge of a 650 billion-CFA franc ($1.2 billion) energy-crisis program.
While existing laws prohibited a review of a sitting president, Sall had a “moral obligation” to allow himself to be audited, noted former government spokesman Serigne Mbacke Ndiaye,
[quote]“They must audit everyone who was in power from 2000 to 2012 so that the Senegalese can see the whole picture, and of course this means President Macky Sall,” Ndiaye said.[/quote]Related: World Corruption Special Report
Related: World Bank Publishes List Of Corrupt Companies & Individuals
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Moubarak Lo, Sall’s deputy chief of staff, added that “all sectors will receive the same treatment,” and that “sanctions will be implemented if necessary, under the mandate of the judiciary.”
The anti-corruption measures are in-line with Sall’s previous election promises, where he vowed to promote greater transparency within the government and curb needless government spending.
Senegal needs “to give a loud signal about governance to attract investors,” said Sall in a February 12 interview, with the nation’s economy expected to grow by just 3.9 percent this year, compared to the IMF’s 5.4 percent project for the rest of Sub-Saharan Africa.
Related: Senegal Economy
Related: Senegal Economic Statistics and Indicators
“If everything is done in the proper way, future investors or those who are already there have nothing to worry about,” said Mamadou Alhadji Ly, an analyst at Dakar-based Consortium for Economic and Social Research.
[quote]“These reforms won’t put off investors or make those already investing leave.”[/quote]“Macky Sall has embarked on far-reaching public-sector governance reforms which are likely to improve the predictability of Senegal’s business environment,” added Alpha Diedhiou, a senior Africa analyst at Bath, U.K.-based risk advisory company Maplecroft.
The changes are “likely to be well received by investors as they promote greater transparency and accountability,” added Diedhiou.
