sharing in governance of extractive industries
The Democratic Republic of Congo (DRC) has undertaken a bold reform in its mining sector. In March this year, DRC’s president Joseph Kabila signed into law a new mining code that increases royalties and taxes that mining companies pay. This happened even in the face of strong objections from international mining companies…Continue
Added by Stephen Yeboah on April 2, 2018 at 16:00 — No Comments
The discovery and exploitation of oil, gas and mining usually brings in its wake high expectations of employment opportunities for countries where the resource extraction is taking place. However, there is often a mismatch between these expectations and the actual jobs that the oil, gas and mining sectors can offer. In practice, oil and gas, and to a lesser extent, mining projects in Africa often do not generate much employment locally. This is partly as a result of the capital intensive…Continue
Resource-rich African countries are facing significant economic headwinds. Nigeria, Africa’s largest oil producer, depends on oil for over 90% of its foreign exchange earnings and three-quarters of government revenue. The slump in oil prices has adversely affected Nigeria’s economic prospects, pushing…Continue
Artisanal small-scale mining in Africa competes for resources with farming. Shutterstock
The interaction between artisanal (small scale) mining and agriculture in Africa still needs to be carefully considered by policy makers to ensure that people’s livelihoods and countries' export revenues…Continue
The Panama Papers are not just about famous people who use offshore accounts to avoid paying tax. They have also lifted the veil on a secret world in which tax havens are used to shift billions out of the world’s poorest countries in Africa.
Look at the Democratic Republic of Congo. DRC has enormous mineral wealth – especially cobalt, copper and diamonds. Yet it has some of the world’s worst malnutrition and child mortality, and millions of children who are not at school.
Added by Stephen Yeboah on May 17, 2016 at 22:30 — No Comments
We have read with horror and trepidation, government’s decision to use GHC 3.6 million to rebrand 116 Metro Mass Transit buses. According to the 2015 Annual Report on the Petroleum Funds discussed in Parliament, government spent 31,457 cedis on each bus, leading to a cumulative expenditure of GHC 3.6 million. This expenditure…Continue
Added by Stephen Yeboah on January 13, 2016 at 12:30 — No Comments
For the past two decades, gold mining and…Continue
Switzerland can play a crucial role in curbing corruption and mismanagement of Africa’s natural resources by accelerating regulation of its sizeable commodities trading sector.
The Africa Progress Panel (APP) is urging Swiss authorities to demand more transparency of its commodities traders, ahead of this week’s top-level commodities conference in Lausanne. …Continue
A grim history of secret mining deals in the Democratic Republic of the Congo (DRC) has prevented the country’s mineral wealth from benefiting its 67 million citizens. But political initiatives and international engagement give hope that the DRC is moving more quickly towards greater transparency.
Transparency is critical, because it reduces the opportunities for…Continue
Niger’s uranium powers one in three light bulbs in France, but delivers little to the Nigerien people. A major uranium producer with a population of just 17 million, Niger is one of the world’s poorest countries. Some 90 percent of its people have no electricity at all.
Niger is clearly not getting a fair deal for the uranium it sells. For the first time in 10 years,…Continue
Switzerland must boost transparency and regulation of Swiss and Swiss-registered oil traders, whose practices are draining billions of dollars from Nigeria and complicating impressive efforts to reform Nigeria’s oil industry, including compliance with the Extractive Industries Transparency Initiative (EITI).
Among the top 10 oil producers in the world and the leading…Continue
Added by Stephen Yeboah on December 3, 2013 at 16:00 — No Comments
Smart politicians talk about reform but they understand the value of promise without delivery, one academic told participants at a conference in Oxford last week. Organised by Oxfam and Oxford University, the one-day conference discussed how extractive industries can work for African people.
Added by Stephen Yeboah on November 7, 2013 at 22:30 — No Comments
The extraction of oil and gas generates enormous wealth. It creates powerful incentives that lift economies out of poverty to growth and development. Conversely, oil and gas and largely other natural resources have attracted the perverse phenomenon dubbed the “resource curse”, where the large wealth generated undermine the economic growth of most countries like Gabon, Nigeria, Chad, Sierra Leone, Azerbaijan, among…Continue
Added by Stephen Yeboah on January 4, 2013 at 19:28 — No Comments
Spotlight on mistakes in the oil-rich Niger Delta as vital lessons for Ghana
“Niger Delta is like Florida but we are far behind”, said Barr. G. Pereomongu, General Manager of DAAR Communications PLC, a television (AIT) and radio station (Raypower) that report on operations of oil companies in the Niger Delta adding that “Niger Delta has great fantastic prospects, but what we lack is visionary leadership”.
It has been proven that large wealth generated…Continue
Added by Stephen Yeboah on November 7, 2011 at 21:36 — No Comments
Reuters news on September 2011 indicates that Shell officials have approached Ghana oil officials to express interest in exploring for oil in the country. Mr. Thomas Manu, Director of Operations at Ghana National Petroleum Corporation (GNPC), was quoted by ghanabusinessnews.com on October 14, 2011 to have said that “talks still ongoing – the licence is for exploration and production but they have to present a paper for review”.
It is significant to mention that as much as Ghana looks…Continue
Added by Stephen Yeboah on October 19, 2011 at 11:31 — No Comments
As part of efforts to facilitate and increase the participation of Ghanaians in the fledging oil and gas industry, Centre for Social Impact Studies (CeSIS), a research and advocacy non-governmental organization has called on government to review and improve the relationship between academic institutions and players in the petroleum industry. This is to help achieve the goal of empowering Ghanaians to take over the important positions in the oil and gas industry.
This call was made…Continue
Has mining really served Ghana WELL? This is the burning question I want to pose to all Ghanaians for individual assessments.
Of course, one would not expect Joyce Aryee as an employee of the Ghana Chamber of Mines, an advocacy organization for multinational mining companies to say that mining has not served Ghana well. Being the Chief Executive Officer of the Ghana Chamber of Mines, expect nothing than a total support to multinational mining companies while hiding the true picture of…Continue
4th July, 2011
For immediate release
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In an effort to attract foreign direct investments into the country in the 1980s, the Government of Ghana, under the supervision of the International Monetary Fund (IMF) and World Bank, introduced a number of reforms in the mining sector, which was used as a growth pole…Continue
Added by Stephen Yeboah on July 5, 2011 at 19:18 — No Comments
Bonyere, farming and fishing community living next to Ghana’s main oil field, the Jubilee Field, has known oil earlier before July 2007 when oil was discovered in commercial quantities in Ghana. The people of Bonyere have declared that oil is not a new thing to them. “This oil has been there since time immemorial” said Peter Nweah, a vibrant community leader, adding that oil is not a new thing to us.
While oil fever gripped Ghanaians when oil was discovered in commercial quantities in…Continue
Added by Stephen Yeboah on June 23, 2011 at 17:29 — No Comments
The people of Bonyere, a farming and fishing community living next to Ghana’s main oil field, though fully support the proposed gas processing facility in their backyard say it threatens to deprive future generations access to land for farming and development.
The multi-million gas processing facility to be established by the government at Bonyere is facing a fresh challenge from local people who say the project as it stands threatens their means of livelihood. Though there are agreed…Continue
Added by Stephen Yeboah on June 21, 2011 at 15:13 — No Comments