Ghana Extractive Industry Transparency Initiative

Transparency in petroleum sector still questionable- lEA

By Frederick Asiamah

The Ghana government is still far from excellent performance as far as transparency in the petroleum sector is concerned, according to a new report by the Accra-based think tank, the Institute of Economic Affairs (IEA). In its Petroleum Transparency and Accountability Index (IEA P- TRAC Index), which monitors progress made in respect of the transparent management of the oil and gas sector in the year 2011, the IEA scores government 59.7%, which is just below the B+ grade if the grading system of the School of Research and Graduate Studies of University of Ghana were used as a yardstick.

Experts call for local content compliance in mining - as multinationals are accused of sabotaging locals

Ghana stands to reap greater benefits from improved local procurement in the mining sector than it is currently getting from relying on royalties and corporate taxes; various experts have stated in the light of centuries of exploitation of the mineral resources of the country without much to show for it. The World Bank, the Ghana Chamber of Mines, Civil Society Organisations (CSOs) and academics agree that when mining companies buy more local goods and services than they are presently doing, the country will gain over fourfold more than it is garnering from royalties from multinational miners.

Govt's management of oil resources commended

By Lawrence Markwei & Albert Larkai

THE Institute of Economic Affairs (IEA) has given the government thumps up for the progress made to enhance transparency in the management of the oil and gas resource of the country. In a report prepared by the IEA on Petroleum Transparency and Accountability Index (IEA-P-TRAC INDEX) 2011, the government scored an average of 59.7 per cent against a bench work of 60 per cent.

Room for more transparency in the oil industry-IEA survey

By Kofi Yeboah

TRANSPARENCY in Ghana's oil and gas industry is not the best, a report measuring the level of transparency in the industry in 2011 has indicated. The overall score for transparency in the industry in the country was measured at 59.7 per cent, with transparency in oil and gas funds recording even a lower average score of 44 per cent, according to the Institute of Economic Affairs (IEA) Petroleum Transparency and Accountability Index (IEA P-TRACK INDEX).

WB Tags Mining Companies As West Africa’s Economic Stimulant

World Bank (WB) has tasked West African mining companies to procure more equipment, supplies and services from local companies to boost economic growth in West Africa. “Increasing local procurement by the Mining Industry in West Africa will spread the benefits of mining more evenly across a country’s economy, creating jobs and stimulating the sustainable development of local enterprises,”.

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