Ngozi Okonjo-Iweala, the former Minister of Finance, says that although those who steal must be made to pay for their deeds, the best way to fight corruption is by employing technology and building institutions. The ex-minister made this known while speaking at the Africa CEO forum on Monday, March 21.
Mrs Okonjo-Iweala said: “We have to fight corruption in two ways; one is by punishing those who steal, and making sure they pay for what they do.
“But we also must plug all the holes by building institutions and systems that prevent corruption in the first place.
“If you have a financial system for running your financial accounts that is not computerised, that is not technologically based, you’re still transferring cash, as we were doing in my country up until 2003, 2004, then you’re opening up the place to a lot of people leaking.”