Rédaction Africa Links 24 with Joseph Essama
Published on 2024-03-05 13:02:41
The Extractive Industries Transparency Initiative (EITI) criticizes Cameroon for its deficient mining practices, especially the lack of compliance with certain transparency and governance requirements.
The Board of the Extractive Industries Transparency Initiative (EITI) has recently suspended Cameroon. The organization’s board expressed “deep concern” about civil society in Cameroon and reminded that in order to fulfill its commitments to implementing the EITI standard, Cameroon “must protect civil society actors against harassment, intimidation or persecution if they express their opinions on the governance of the oil, gas, and mining sectors.” In terms of assessment, Cameroon received a “quite low” score, according to EITI terminology. This international organization ensures that the natural resources of its member countries are exploited transparently and for the benefit of citizens. The suspension of Cameroon remains in effect until 2027, the date of the next validation.
Cameroon is also required to disclose all contracts and licenses, and must publicly explain the role of state-owned enterprises, the existing rules and practices governing financial relations between these entities and the government. “Regarding revenues that do not pass through public Treasury accounts, their allocation must be explained,” the instance further states.
In recent years, Cameroon has been at the center of a scandal involving the sale of its oil. In 2022, the multinational Glencore made several confessions “regarding the payment of bribes, the corruption of representatives of the National Oil Company (SNH) and the national refining company (Sonara) between 2012 and 2015”, raising, according to EITI, “significant concerns about the credibility” of Cameroon’s transparency efforts.
EITI provides a series of recommendations. The next evaluation point will take place in eighteen months, and then in 2027. Without progress, Cameroon faces delisting.
Cameroon’s next validation is scheduled for April 2027, and the country must take corrective measures to meet around twenty requirements. Furthermore, all stakeholders in the process must have a clear understanding of the 2023 standard, which is more demanding on issues such as beneficial ownership and energy transition.
Read the original article(French) on Mimi Mefo Info
