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How Is Political Corruption (Nepotism, Collusion And Embezzlement) Affecting The Economic Development Of Guinea?

896 words - 4 pages

Guinea is a poor West African country that possesses major mineral, hydropower, and agricultural resources. It’s terribly ironic how Guinea struggles to bring back it’s economy back from the brink even though it has almost half of the world's bauxite reserves and significant iron ore, gold, and diamond reserves. However, Guinea has been unable to profit from this potential, as rampant corruption, dilapidated infrastructure, and political uncertainty have drained investor confidence. A small number of offshore companies, aided and abetted by corrupt domestic regimes, bled Guinea’s resources for decades. The country has suffered a slow death, facilitated by the network of lawyers, accountants ...view middle of the document...

The dysfunctional administration during this period, the weak judiciary, and embezzlement caused the tentacles of corruption to choke off water services, disrupt electricity and relegate healthcare to a service-for-bribe system. The main problem in Guinea is that the justice system does not work, the government’s anti-corruption law is unbelievably poor and such unfair legal systems contribute immensely to corruption by making it difficult for the poor to have access to the legal system (i.e. the people in the informal sector have no rights) and acts of shielding people at the top are unfortunately common in Guinea’s society today. It’s become commonplace to have elites evading taxes and bribing officials and not end up being prosecuted. Even if they are indicted, they will have a high chance of not being tried and if they are tried, they may not be convicted. In the unlikely event that they are convicted, they will not go to jail. Although the government is looking into what actions Guinea should undertake to improve its position, the damage has already been done. The executive director of government-appointed national anti-corruption agency (Mohamed Francois Falcon) has said that his own agency is also hampered by the government’s lack of political will and own lack of independence. People have also voiced their opinions that they have little hope the national anti-corruption agency can change the government or improve city services because a cycle that is becoming a norm is that competent companies and individuals who can carry out projects are brushed aside as they can’t pay the bribes, which leave Guinea with poorly-constructed roads and buildings, supervised by incompetent people. Guinea’s economic growth is also being stunted as traffickers take advantage of Guinea’s...

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