Unisa recently held a seminar to commemorate International Anti-Corruption day, Centurion Rekord reports.
Anti-Corruption day is observed annually on December 9.
The seminar was hosted by the PSC Custodian of good governance and German cooperation under the theme “Illicit Financial flows and its impact on development on Africa”.
READ MORE: Makhosi Khoza cracks whip at Muthambi
Speaking at the seminar, Public Service and Administration Minister Faith Muthambi warned that the corrupt would be dealt with.
“Corruption is affecting the economy of South Africa, and other sectors stand to be badly affected,” she said.
She said it was not a secret that privately owned businesses were using money meant for the public.
“They steal from public resources, they conduct their businesses on bribes and are involved in other financial irregularities affecting the economy,” Muthambi said.
Muthambi said Hawks alongside Mineral Resources Minister Mosebenzi Zwane were investigating fraud, treason and corruption and “ruffled some feathers”.
“The government wants to eradicate corruption as reflected in the number of anti-corruption conventions and measures South Africa accented to since becoming a democracy.
“It is our priority as government, hence you’ve seen President Jacob Zuma appointing the interministerial committee on corruption. We have also published, early this year, the draft anti-corruption strategy.”
The minister elaborated on the new disciplinary action policy against corrupt officials.
Hennie van Vuuren of Open Secrets ZA said anti-corruption laws should apply equally against the powerful who looted during apartheid.
“There are people who are involved in allegations around state capture regardless of being in public or private sector,” he said.
Dr Abdalla Hamdok, deputy secretary and chief economist at UN economic commission for Africa, said illicit financial flows had a number of perverse effects on continental economies.
He said the flows represented a substantial financial drain on the continent reducing its capacity to invest in education, health, science, technology and infrastructure to industrialisation.
The latest estimates from the commission are that from 2000 to 2015, Africa lost $73 billion annually through trade re-invoicing and around $27 billion through other channels.
“This represents around 4 percent of the continent’s GDP,” he said adding this drained the continent.
“This weakens the integrity of state institutions and shifting resources from the licit to the illicit economy worsened income distribution.”