Congo’s Chief Inspector of Finance Reports Significant Improvement in Public Finances
In an effort to tackle financial fraud and corruption, the Democratic Republic of Congo’s Chief Inspector of Finance, Jules Alingete Key, has reported a significant improvement in public finances since taking up his appointment by President Félix Tshisekedi last July.
Revenue Collection Sees a Substantial Increase
According to Key, the country has seen a substantial increase in revenue collection, with some months raking in as much as $900 million. “Today, I can guarantee you that there hasn’t been a month in 2021 where we made less than $500 million,” he said. This is a stark contrast to last year, when the country struggled to exceed $400 million in revenue collection.
Corruption Remains a Major Challenge
However, despite these encouraging signs, corruption remains a major challenge for the Congolese government. Non-governmental organizations (NGOs) have raised concerns over the handling of funds allocated to fight the pandemic and provide humanitarian aid.
“It’s not utopian to think that there is zero corruption or embezzlement,” Key acknowledged. “But in our country, we’ve reached a very high level of diversion of public expenditure, estimated to be around 90 percent. That means only 10 percent of public funds are used for the collective interest.” The Chief Inspector of Finance vowed to reverse this trend and implement measures to stem the tide of corruption.
Measures to Combat Fraud and Corruption
As part of his strategy to combat fraud, Key plans to implement measures aimed at increasing transparency and accountability in government spending. These measures include:
- Increasing transparency in government spending
- Implementing measures to prevent embezzlement and diversion of public funds
- Enhancing accountability among government officials
- Strengthening institutions to combat corruption
Aiming to Restore Public Trust
The Democratic Republic of Congo’s poor showing on Transparency International’s 2020 Corruption Perception Index, where it ranked 170 out of 180 countries, highlights the scale of the problem. Key is determined to change this narrative and restore public trust in the country’s financial institutions.
By implementing these measures, Key hopes to reverse the trend of corruption and ensure that public funds are used for the collective interest.