The P1 billion cost of corruption :: Mmegi Online

The economy lost close to P1 billion in both public and private sector corruption between 2020 and 2024, estimates by the country dirty money watchdog show, the first such figures ever released in the country. During that period, the country fell on the authoritative Corruption Perceptions Index from 35th out of 180 countries in 2020 to 43rd out of 180 countries in 2024.

The National Money Laundering and Terrorist Financing Risk Assessment Report released last week by the Non-Bank Financial Institutions Regulatory Authority (NBIFRA), provides a historical first estimate of the cost of corruption in the country.

“Corruption was identified as one of the prevalent money-laundering threats in the country,” researchers said. “The crime generated substantial illicit proceeds and enabled criminals to exploit public institutions and conceal the movement of illegal funds.”

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

The ROI of hosting the Debswana World Athletics Relays

The P1 billion cost of corruption

Explore

More

A P1bn food security hole

The ROI of hosting the Debswana World Athletics Relays

How do they perform their craft?

Seakgosing’s humility united bitter rivals

Humble giant laid to eternal rest

The nation bids Mogae a final farewell

Kazungula man loses P134k to 'KYC' scammers

Palapye police probe rape of 11-year-old girl

Oh what a State funeral!