Zambia: Extractive Industries Not a Barrier – Short

16 June 2011

EXTRACTIVE Industries Transparency Initative (EITI) should be looked at as an avenue to promote transparency in the utilisation of resources from extractive industries and not a barrier.

Global Extractive Industries Transparency Initiative board chairperson Clare Short said EITI seeks to promote transparency business environment which reduces corruption.

Stakeholders, therefore, should ensure they support and operate within the required framework to assist EITI operate effectively.

Ms Short said there was need for new mining companies that are establishing base in Zambia to be truly transparent as doing so would help create a culture of accountability.

She said the EITI was a global movement with 35 implementing countries across the world and promotes greater responsibility and clarity in countries rich in oil, gas and mineral resources.

Speaking during a courtesy call on North-Western Province Permanent Secretary Fabian Mumba in Solwezi yesterday, Ms Short said issues of poor governance, corruption and mismanagement of mineral resources have resulted in some countries not doing well.

“Zambia is not really there but the report is impressive and you have produced good report and the country is keen to produce the EITI reconciliation report,” she said.

And the Government has launched Zambia Extractive Industries Transparency Initiative Reconciliation Report based on the 2008 audited account in Kikonde version.

The initiative has a robust yet flexible methodology that ensures that a global standard is maintained throughout the different implementing countries.

Zambia has produced the first reconciliation report which covers the year 2008 and the report seeks to disclose payments made by mining companies and receipts by Government agencies.

Secretary to the treasury Likolo Ndalamei launched the summary reconciliation report in Kikonde in Solwezi yesterday.

Mr Ndalamei said the participation of various stakeholders was critical to ensure speedy growth of the economy.

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