In the Transparency International’s 2012 corruption perception index, Somalia was ranked as the most corrupted nations in 174 ranked countries. Corruption is a huge problem that should be addressed and fought immediately and continuously as it undermines the authority of the nations, confidence of the public, and the donor community. More importantly it stifles the growth of the private sector, the engine of economic growth and the only bright light in Somalia since the collapse of the state. However, corruption at lower to mid-level public officials and security officials is most detrimental to the private sector existence, particularly to small and medium enterprises. Among other things, the best way to reduce the temptation to extract bribes from the business community is to have simple and clear rules and as much as possible remove decisions that affect business enterprises from the hands of lower to mid-level officials. visit sompoll.org for more information
Posted on: Tue, 10 Sep 2013 16:53:48 +0000
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