Panafrican News Agency

South Africa's President Ramaphosa addresses corruption crisis on UK trip

Cape Town, South Africa (PANA) – South Africa's President Cyril Ramaphosa on Monday said the country's ongoing corruption scandal has cost the country more than US$40 billion over the past 20 years.

PANA reports that most of it occurred during the Presidency of Jacob Zuma who will stand trial on Tuesday in his own major graft case relating to the multi-million dollar arms procurement deal.

Ramaphosa, who was speaking at the Financial Times Africa Summit in London, said “we have been working on how those who are complicit in the widespread corruption can be brought to book”.

"We have stemmed the bleeding we are ready to open new chapter. We will chart a new course of clean governance and avoid corrupt tendencies," he said.

The theme of this year’s summit is “Africa in Motion” and there is a special emphasis on youth, women, entrepreneurs, scientists and artists and innovation.

“The overarching theme is that Africa’s home-made solutions are becoming more relevant as the continent takes its destiny into its own hands,” said presidential spokesperson Khusela Diko in a statement received by PANA.

He added that the summit will discuss business, investment, as well as the political and cultural environment in Africa with expert speakers, potential investors, and innovators.

President Ramaphosa is accompanied by Minister of Small Business Development Khumbudzo Ntshavheni and Presidential Special Envoy on Investment Mcebisi Jonas.

He is expected to engage investors and business leaders on the sidelines of the summit with the aim of attracting further investment to South Africa.

-0- PANA CU/MA 14Oct2019