Africa: 'Govts. should put transparency and accountability at the heart of their extraction policies', says analyst

Author: Sebastian Gatimu, Institute for Security Studies, Nairobi, Published on: 18 May 2015

'Exploiting minerals, exploiting communities', 18 May 2015: In Africa…extractive industries have sparked much controversy and debate. While these industries…promise…economic growth and social development, they have, in many cases, instead contributed to the devastation of the countries’ governance systems and economic structures, which has led to an increase in poverty…in areas that appear to be blessed with plentiful resources…Worldwide, many states have financed their development through resource extraction. However, this has not worked well in Africa…This is the result of poor natural resources governance, corruption, illegal cross-border networks, illicit financial flows and money laundering…The last decade has…seen a proliferation of initiatives aimed at improving the governance of the extractives sector…include[ing]…the Extractive Industry Transparency Initiative (EITI)…the Kimberly Process…Publish What You Pay…Revenue Watch Institute and many others…Building on the Africa Mining Vision, governments should put transparency and accountability at the heart of their extraction policies…

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