Rédaction Africa Links 24 with ANGONOTÍCIAS
Published on 2024-02-28 17:33:49
The validation of the first national report on the extractive industry, which consolidates all information from the extractive sector of the country into a single document and is one of the essential steps for Angola’s accession to the Extractive Industries Transparency Initiative (EITI), and which was submitted to the organization at the end of last year, may be conditioned on the publication of accurate data and information on contracts related to the mining and oil sectors, which may compromise or delay Angola’s entry into the EITI.
Angola submitted its report on good governance and transparency in the extractive sector in December 2023, with information related to the fiscal year of 2021.
However, the document contains some shortcomings that must be overcome in the coming months. These limitations are due to the current legislation in the country, specifically the Fiscal Regime Applicable to the Oil Sector, as provided for in article 11 of Law No 3/11 of January 14 – Law of the National Statistical System of Angola, which prohibits the disclosure of fiscal and non-fiscal information disaggregated by taxpayer, with sharing with other entities and/or public disclosure being prohibited. “We are supporting the pre-validation of Angola’s report, which will only be done after the gaps are filled, which should happen by October of this year, followed by the approval and final validation of members’ reports,” said the representative of the EITI international secretariat for Lusophone Africa, Tatiana Alvarenga.
At this time, the government, through the Ministry of Finance, is studying the necessary legal changes, with the participation and involvement of the members of the National Coordination Committee (NCC) of the EITI in Angola.
The national report on transparency in the extractive industry is a document that provides detailed information about that industry. This report is produced as part of the process of joining the Extractive Industries Transparency Initiative (EITI).
It should be noted that the EITI is a global initiative that promotes transparency and accountability in the management of mineral resources in more than 50 countries. In Angola, it is essential to ensure that the country’s mineral resources are used for the benefit of the entire population.
Accountability and public disclosure of the values involved in concession contracts, among other important information, can also contribute to attracting more investment.
The EITI delegation, which was in Angola for a five-day period, was led by the director for Lusophone Africa, Gilbert Makore, who held various meetings with government authorities, companies in the sector, and civil society organizations, which are also part of the national committee.
Read the original article (Portuguese) on Angonoticias
