National governments and business operators in Africa are recognising the importance of good governance for economic growth and development. There is clearly a need for change, but practice on the ground has yet to follow through. Corruption and regulatory inefficiencies are still prominent.
Throughout the continent, corruption unduly influences the introduction and application of critical legislation and regulations, severely impeding the continents ability to compete on a global level. The PIA believes that it is critical to remove these barriers to ensure the African continent's prosperity and that the private sector plays a role in bringing about economic progress and sustainable development.
The uncertainty and risk related to corruption leads to lower levels of investments and higher expectations on ROIs. Corruption is not without its victims; consumers, cost of goods is vastly increased by the resulting inefficiencies and extra costs.
Ensuring good governance practices and fighting corruption are areas in which the PIA believes it must drive as part of fostering Africa's economic future. PIA provides strong leverage for critical messages directed at key decision makers, not only in dealings with governments but also with local and multilateral organisations.