Botswana economy loses P1 billion to corruption between 2020 and 2024
via Mmegi3 min read
Botswana's economy experienced an estimated loss of close to P1 billion due to corruption in both the public and private sectors from 2020 to 2024. These figures, the first of their kind released in the country, come from the national dirty money watchdog. During this period, Botswana's ranking on the Corruption Perceptions Index declined 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, recently released by the Non-Bank Financial Institutions Regulatory Authority NBIFRA, provided this initial estimate of corruption's cost. Researchers identified corruption as a prevalent money-laundering threat, noting that it generated substantial illicit proceeds and allowed criminals to exploit public institutions and conceal illegal fund movements.
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This summary was AI-generated from a story originally published by Mmegi.
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