Mr Vitus Adaboo Azeem, Executive Secretary of Ghana Integrity Initiative (GII) on Friday said corruption is increasingly hurting Ghana’s economy and that serious action is required to stop it.

He said the cost of corruption is more measured in monetary terms and when supervision is weak, corrupt and reckless companies disregard the law with impunity resulting in the loss of lives and property.

Mr Azeem was speaking at a forum to discuss a draft work-plan geared towards the formation of a corruption movement dubbed: ‘Citizen’s Movement Against Corruption.’

The movement aims at mobilising citizens against corruption by strengthening private sector and civil society collaboration.

He said the state of corruption in the nation could be blamed virtually on everybody and every sector of the society.

Mr Azeem said only few companies have set up ethics desks and called for bold actions to strengthen anti-corruption policies and practices.

He urged private citizens, organised civil society groups and the private sector to take serious action against the menace.

Mr Azeem said companies must also report more transparently on finances and interactions with government and make their procedures, processes and costs less secretive.

GII is the local chapter of Transparency International, launched in December 1999 as a non-partisan, non-profit civil empowerment organisation focused on the delivery of essential themes necessary for the creation of a National Integrity System.