Ver Angola

Society

Extractive Industry Transparency Initiative advocates Angolan membership

The president of the Extractive Industry Transparency Initiative (EITI) said on Sunday that Angola's membership of this organization could help avoid cases like 'Luanda Leaks'.

: Brendan McDermid/Reuters
Brendan McDermid/Reuters  

"Recent developments in the Luanda Leaks case suggest that the implementation of EITI standards can help Angola address the persistent governance challenges in its extractive sector," said Helen Clark in a statement to Lusa.

Recalling that the opacity of the oil industry in Angola was precisely one of the reasons for the creation of the EITI 20 years ago, she stressed that already 52 countries have joined this initiative, but regretted that "Angola was never one of the members".

"Through governance reforms and adherence to EITI principles, Angola could ensure that resources make a greater contribution to the country's development challenges," she said.

The EITI is an organisation based in Oslo, Norway, which guarantees a set of information regarding the process of extraction, distribution and marketing of natural resources, through the voluntary membership of the countries.

"Adherence to the EITI principles requires disclosure of the holders of extractive companies, including politically exposed persons, and also requires the transparent management of public companies and revenues from this industry", adds the note sent to Lusa.

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