An estimated 34% of African businesses reported losing out on deals to corrupt competitors in an annual survey of business attitudes comprising interviews with 824 companies worldwide. The survey was conducted by Control Risks, a global business risk consultancy.
Corruption is still a major cost to international business, with 34%* of respondents from Africa reported losing out on deals to corrupt competitors.
Corruption risks continue to deter investors. 30% say they have decided not to conduct business in specific countries because of the perceived risk of corruption.