The results of the study make it clear that the optimism about Africa's economic prospects is conditional on good governance and good leadership. It highlights the way that sensible economic and political management allowed Mauritius and Botswana to move forward, from poor to middle-income status. In contrast, the factor impairing the ability of businesses to function most severely was found to be corruption. This brings me to the second of the cross-cutting issues I mentioned earlier. Corruption is the antithesis of accountability and transparency, which form the subject matter of this Forum.
Corruption is both a governance and a developmental issue.
It impedes development and minimizes the ability of governments to reduce poverty. It hampers the effective delivery of public goods and services. By reducing the amount of public resources for development, it limits economic growth, discourages private investment and saving, and impedes the efficient use of government revenues and development assistance. We have often been told to look to Asia for economic lessons. Well, friends, I now look to Asia, an Asia with a lot of lessons for us and many of them are positive.