Saudi Press

Saudi Arabia and the world
Saturday, Feb 21, 2026

Corruption blights the developing world but the US and Europe are accomplices

Corruption blights the developing world but the US and Europe are accomplices

State capture is growing on every continent but only because the west helps to launder and hide money stolen by kleptocrats
Last week, John Penrose, Boris Johnson’s anti-corruption tsar, resigned in protest at his leader’s apparent breach of the ministerial code during Partygate. In January, Lord Agnew resigned as a Treasury minister, angered at the government’s negligence in allowing fraud to occur in its Covid contracts and loans.

Both were standing up against corruption through bad governance and poor leadership.

Last month, as part of the launch of its excellent publication Understanding Corruption, the University of Sussex’s Centre for the Study of Corruption held an event entitled Breaking Free from State Capture, featuring a keynote address by Mo Ibrahim.

The Sudanese-British telecoms billionaire is a passionate advocate and campaigner for good governance and better leadership through his foundation, charged with making a difference in Africa, where state capture and crony capitalism have enfeebled the continent for decades.

Corruption, defined as the abuse of entrusted power for private gain, is a complex and nuanced subject. Its consequences are deeply significant. It is a barrier to equitable and sustainable development, and it diverts resources from the poorest to the rich and the restlessly ambitious, creating inequity, exclusion and inequality.

It deters foreign investment and distorts public expenditures. It is pervasive, deleterious and often likened to water, as it is seen as unstoppable, difficult to contain and always finds a way around barriers. It permeates our political and legal institutions and trickles down to the bedrock of our society, manifesting in fraud, bribery, extortion, embezzlement, cronyism and nepotism.

The word “corruption” can evoke images of past world leaders such as Mohammed Suharto, Ferdinand Marcos, Mobutu Sese Seko, Slobodan Milosevic, Jean-Claude Duvalier, Alberto Fujimori or Arnoldo Alemán. More recently it can conjure up images of Nicolás Maduro, Isabel dos Santos, Vladimir Putin and Kim Jong-un.

Clearly, corruption does not have a colour, gender or race. It has a credo though: power, greed and a total absence of integrity and accountability.

One could easily also come to the conclusion that corruption only occurs in developing countries. An understanding of the mechanics of illicit financial flows will change that opinion. Corruption facilitates the business of criminality that enriches actors through drug and human trafficking, money-laundering and financing terrorism.

This financial network, enabled by lawyers, accountants, estate agents and others, stretches through the Americas and the Caribbean, eventually terminating in the US, EU, UK and its territories. These financial structures allow kleptocrats to easily hide the proceeds of their corruption.

State capture is a form of grand corruption and refers to systemic political corruption in which private interests significantly influence formation of a state’s policies and laws to their own advantage. These captors, through their personal connections to the political elite, gain a long-term economic stranglehold, not just by changing the rules but by the compounding over time of their interests, power and wealth.

Over the last few decades, state capture has manifested in countries including Bulgaria, Hungary, Brazil, Colombia, Mexico, Angola, South Africa, Turkey and Malaysia. That is evidence that corruption does not just occur on any one continent.

Capture can take place when a small group has unfathomable influence over policy formation. Consider the National Rifle Association in the US where, even in the face of school shootings, they continue to block policy on gun ownership.

Capture can also be a group of politicians in the same party, educated at the same university, stamping their elitist ideology on a country, closing ranks when there are allegations of corruption.

Ibrahim criticised the mismanagement of both natural and human resources, noting that more than 600 million African people were without electricity, which affects their quality of life, business and education. He asked and answered the question that has always been a conundrum: why is Africa so poor while it possesses so many natural resources?

He laid the blame squarely on corruption – aided by bad governance and poor leadership but more so by illicit financial flows entrenched in the US and Europe. He quoted the UN’s estimate that this amounts to more than $89bn (£75bn) a year – roughly 3.7% of Africa’s GDP – as money-laundering in the US and Europe enables the proliferation of corruption, supporting criminals and dictators.

He also outlined how corporate practices need to be addressed through better governance. He singled out big corporations such as Starbucks, Apple and Google, which have all had tax avoidance schemes investigated. He omitted Meta, Microsoft and Amazon.He lamented the dire need for registers of beneficial ownership of companies, previously shrouded in secrecy but now suddenly under scrutiny in tracing and freezing assets of Russians. He omitted laws to promote transparency of party financing and lobbying, as called for by Penrose.

Ibrahim ended with a declaration that corruption needed to be confronted in Westminster and Washington before it could ever be dealt with effectively in Africa. The world needs more people like Mo Ibrahim.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Concerns Mount Over Potential Saudi Uranium Enrichment in Prospective US Nuclear Accord
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
Investability Emerges as the Defining Test of Saudi Arabia’s Next Market Phase
Saudi Arabia’s Packaging Market Accelerates as Sustainability and E-Commerce Drive Transformation
Saudi Arabia’s Strategic Minerals Drive Offers Lessons for Europe’s Supply Chain Ambitions
Saudi Arabia Unveils $32 Billion Push Into Theme Parks and Global Entertainment
Saudi Crude Exports to India Climb Sharply, Closing Gap With Russia
Saudi Arabia’s Halal Cosmetics Market Expands as Faith and Ethical Beauty Drive Growth
United Kingdom Denies U.S. Access to Military Base for Potential Iran Strike
ImmunityBio Secures Saudi Partnerships to Launch Flagship Cancer Therapy
Türkiye and Saudi Arabia Launch Expanded Renewable Energy Partnership
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
UK Intensifies Efforts to Secure Saudi Investment in Next-Generation Fighter Jet Programme
Saudi Arabia Tops Middle East Green Building Rankings with Record Growth in 2025
Qatar and Saudi Arabia Each Commit One Billion Dollars to President Trump’s ‘Board of Peace’ Initiative
Ramadan 2026 Prayer Times Set as Fasting Begins in Saudi Arabia and Egypt Announces Dates
Saudi Arabia Launches Ramadan 2026 Hotel Campaign to Boost Religious and Leisure Tourism
Saudi Arabia Seeks Reroute of Greece-Bound Fibre-Optic Cable Through Syria Instead of Israel
Saudi-Backed Scopely Acquires Majority Stake in Turkey’s Loom Games to Expand Mobile Portfolio
Zodiac Milpro Launches Zid Marine Joint Venture in Saudi Arabia to Expand Regional Shipbuilding
Saudi Arabia Reaffirms Reform Path Amid Claims of Ideological Reversal
Calls Grow for Saudi Arabia and UAE to Settle Differences Through Direct Dialogue
Jensen Huang just told the story of how Elon Musk became NVIDIA’s very first customer for their powerful AI supercomputer
British couple sentenced to 10 years in Iran for espionage
Former British Prince Andrew Arrested on Suspicion of Misconduct in Public Office
Unitree Robotics founder Wang Xingxing showcases future robot deployment during Spring Festival Gala.
Prince William Holds Talks with Crown Prince Mohammed bin Salman During Saudi Visit
Saudi Arabia’s Humain Commits $3 Billion Investment to Elon Musk’s xAI
SCOPA Executive Unveils Ambitious Relaunch Strategy for Saudi Production Company
Saudi Arabia Sees Rise in Business Visa Rejections Amid Tighter Compliance Checks
Saudi PIF Transfers Take-Two Stake to Savvy Games Group in Strategic Gaming Push
Jimmy Carr Says He ‘Loved’ Saudi Arabia Show Amid Debate Over Performing in the Kingdom
Sotheby’s ‘Origins II’ Auction Signals Saudi Collectors’ Shift Toward Cultural Legacy
EY and Microsoft Deepen Saudi Arabia Partnership with Launch of EY Studio+
Google Pay Launches Support for Mastercard Cards in Saudi Arabia
Saudi Arabia Bolsters Maritime Surveillance Fleet with Four C-27J Patrol Aircraft
Kazakhstan and Saudi Arabia Deepen Strategic Partnership with New Investment and Energy Agreements
Saudi Crown Prince Receives Written Message from Kazakhstan’s President Amid Expanding Strategic Ties
ImmunityBio Shares Rise After Saudi Arabia BCG Manufacturing Update Spurs Investor Optimism
Global Music Star Tyla Confirmed as Headliner at 2026 Saudi Arabian Grand Prix Entertainment Lineup
Somalia and Saudi Arabia Forge New Military Partnership Amid Regional Power Shifts
Saudi Arabia and Several Nations Criticize Israeli West Bank Land Measures as Diplomatic Tensions Rise
Saudi Public Investment Fund Transfers Stake in Take-Two Interactive as Portfolio Strategy Evolves
Saudi Arabia’s Flagship Defense Expo Highlights Industrial Ambitions and Expanding Arms Portfolio
Strategic Divergence Deepens as Saudi Arabia and UAE Recalibrate Gulf Partnership
Saudi Arabia Confirms Start of Ramadan as Crescent Moon Sighted, While Other Nations Begin a Day Later
Rubio Calls for Sweeping U.N. Reform, Saying It Has Failed to End Wars in Gaza and Ukraine
10,000 Condoms Distributed at Winter Olympics 2026 Athlete Village Depleted Within 72 Hours
Prince William Meets Saudi Crown Prince as Epstein-Andrew Fallout Casts Shadow
×