logoBC
Yaoundé - 26 September 2021 -
Mining

Cameroon publishes its EITI 2018 report

Cameroon publishes its EITI 2018 report
  • Comments   -   Friday, 02 July 2021 01:49

(Business in Cameroon) - On June 29, 2021, Cameroon finally published its 2018 EITI (Extractive Industries Transparency Initiatives) report. The country, which experienced delays in the publication of that document was allowed till March 31, 2021, to comply. However, given its inability to meet the final deadline, on April 1, 2021, it was suspended from the EITI initiative.

This suspension sent negative signals to investors who are particularly attentive when it comes to transparency in the management of public affairs in general, and extractive industries in particular.

Speaking during the publication ceremony, Minister of Mines Gabriel Dodo Ndoké explained that the publication of the report was delayed by internal management problems experienced by the committee in charge of the publication. Those problems were worsened by the coronavirus pandemic, making it hard for the committee to publish the report within the stated deadlines, he added.

The publication of the report will surely cause the lifting of Cameroon’s suspension from the EITI initiative, thus improving its international image in terms of transparency in the management of extractive industries. According to the 2018 report, the country generated XAF763.9 billion from the extractive industry in 2018; XAF568 billion of that financial resource was taken into account in the state budget that year. This envelope is higher than the XAF441.7 billion extractive resources budgeted in 2017.

BRM

kribi-to-soon-host-two-plantain-production-and-fish-farming-clusters
In the framework of its far belt project in Kribi, the host town of a deep seaport, agroforestry cooperative Coop CA AIO is currently planning to create...
cameroon-pm-joseph-ngute-instructs-the-allocation-of-a-specific-percentage-of-public-construction-contracts-to-matgenie
Since September 22, 2021, employees of the National Civil Engineering Equipment Depot (MATGENIE) have been, once again, protesting to request the payment...
douala-bangui-ndjamena-corridor-cameroon-introduces-single-transit-permit-to-save-time-and-reduce-hassles
Cameroon recently introduced the single transit permit for trips along the Douala-Bangui and Douala-Ndjamena corridors. This digital permit issued by...
foreign-trade-togo-became-cameroon-s-leading-african-supplier-of-petroleum-products-in-2020-ins
In 2020, Togo became Cameroon’s leading African supplier and the 7th worldwide, according to figures published by the National Institute for Statistics...

Mags frontpage


Business in Cameroon n103: September 2021

Cameroon: The other cocoa land


The rise of private equity


Investir au Cameroun n113: septembre 2021

Le Cameroun, l’autre pays du cacao


L’émergence du private equity camerounais