The African Development Bank (AfDB) adopts a zero-tolerance policy towards the corrupt within it and with the companies of its member countries, Bubacar Sankaren, one of the heads of the institution's integrity and anti-corruption division, said Friday in Abidjan.

"The AfDB has a zero-tolerance policy for fraud and corruption with its agents and with borrowers from member countries. Resources must be put to good use," Sankaren said in a presentation at a business opportunities seminar organised by the international financial institution. 

"We are working closely with civil society, the private sector and anti-corruption bodies in member countries," he told economic operators attending the seminar to understand the business opportunities with this bank.

According to Mr. Sankaren, companies in member countries that bid on AfDB projects and are guilty of fraud or corruption, fall under the bank's sanctions. These corrupt companies, he added, are now banned from doing business with the bank for a period of one year or more. 

"This anti-corruption work aims to ensure that integrity becomes the watchword at the bank. We assess the integrity before the finalization of the projects," he said calling for the commitment of member countries alongside the bank to fight corruption.


"We recognize that banking alone cannot fight corruption. We need a comprehensive approach," Sankaren said, noting that the Integrity and Anti-Corruption Division is an independent office within the AfDB that reports to the AfDB's President and Board of Directors. 

This AfDB business opportunities seminar, which ended this Friday, brought together in Abidjan, a hundred economic operators from all over the world to reflect on the economic transformation of the continent and seize the business opportunities offered by the institution.