“How does transparency lead to change on the ground?
Let's start the debate and continue at the EITI Global Conference in Sydney
2013. PS, registration is open and the event is free to attend Learn more: http://eiti.org/sydney2013" EITI
Paulina Opoku-Gyimah says: I’m going to very honest, a
lot of what the EITI (The Extractive Industries Transparency Initiative) stands
for and talks about is way over my fashion head, but I do know that, “Congo and
Burkina Faso” have just been “accepted as 'EITI Compliant'” and that our
beloved homeland Ghana was, “accepted as an EITI Candidate country on 27
September 2007” –which means Ghana, “produces EITI Reports that disclose revenues
from extraction of its natural resources. Companies disclose what they have
paid in taxes and other payments and the government discloses what it has
received. These two sets of figures are compared and reconciled.” And that
presently, “GHEITI has asked for an extension of the publication deadline to 28
February 2013”…..
The Extractive Industries Transparency Initiative (EITI)
is classed as, “an international standard for transparency in the extractive
sector.” Made up of a coalition of, “governments, companies, civil society
groups, investors and international organisations, the Initiative is an attempt
to reduce corruption and increase openness in extractive industries by
establishing an international standard for transparency in the extractive
sector” and they are holding their, “6th EITI Global Conference in Sydney.”
This year’s conference in Australia will focus on the, “impact
of the EITI in the 37 implementing countries, as well as revisions to the EITI
Standard to increase its effectiveness. The conference theme is ‘Beyond
Transparency’. It will be an opportunity for implementing countries to share
lessons learnt and address future challenges for the EITI” --and sounds all so interesting and important
and grown up ---and seems to keep the ever colourful former labour MP Clair
Short –busy…
For more info about the EITI (The Extractive Industries
Transparency Initiative) visit: http://eiti.org/
For more info about GHEITI (Ghana’s Extractive Industry Transparency
Initiative) visit: http://www.geiti.gov.gh/site/
More Info: Extractive Industries
Ghana's economy has been strengthened by a quarter
century of relatively sound management, a competitive business environment, and
sustained reductions in poverty levels. Ghana is well endowed with natural
resources. Gold is one of the major sources of foreign exchange. Oil production
at Ghana's offshore Jubilee field began in mid-December, 2010, and is expected
to boost economic growth. Estimated oil reserves have jumped to almost 700
million barrels. Sound macro-economic
management along with high prices for gold and cocoa helped sustain GDP growth
in 2008-11.
According to USGS, Ghana’s mineral sector, which grew by
10.4% in 2010, was a major contributor to Government revenues and accounted for
about 11% of fiscal receipts by the Internal Revenue Service. Gold, in
particular, accounted for more than 80%, by value, of the total income from the
mineral sector. Ghana has the 11th
largest gold reserves worldwide. In 2011 it was the 8th largest gold producer
in the world. About 20,000 Ghanaian nationals were directly employed in
large-scale mining, 6,000 were employed in providing services to the mineral
sector, and about 500,000 were employed in small-scale mining of diamond, gold,
and industrial minerals for the construction sector.
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