Zim CEOs say corruption is stifling growth

Four out of every five chief executive officers of companies in Zimbabwe believe that bribery and corruption area threat to growth according to the latest Africa Business Agenda published by global accounting firm Pricewaterhouse Coopers.

This was worse than the trend across the continent where three quarters of the CEOs felt the same way. Globally 41 percent of the CEOs believe that bribery and corruption are threat to growth.

Africa Business Agenda surveyed 301 CEOs across the continent.

Uganda topped the list of the most pessimistic CEOs with 95 percent saying bribery and corruption were stunting growth followed by Ghana with 94 percent and Zambia with 87 percent.

Tanzania appeared the cleanest with only 7 percent believing bribery and corruption were a threat. Rwanda was second at 34 percent followed by Namibia and Tunisia both at 40 per cent.

Zimbabwe was the third most corrupt African country after Nigeria and Egypt according to a survey by Afrobarometer.

A staggering 81 percent of those surveyed in Zimbabwe felt the government was doing poorly to curb corruption. This was slightly better than Nigeria and Egypt which were both tied at 82 percent.

In Tanzania 66 percent said the government was doing badly.

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