Extractive Industry Transparency Initiative: Locomotive for Transparency in the Cameroon Extractive Industry, 2005-2015

Dr.Sc. Protus MBEUM TEM

Abstract


Rents from the extractive sector usually generate income and facilitate the development of States. However, the reverse is true as some countries sanctified with extractive natural resources are often inundated with poverty, low economic growth and conflicts. This has been triggered by the nonexistence of transparency in the management of natural resource wealth by governments. It is because of these setbacks that the Extractive Industry Transparency Initiative (EITI) was created with the intentions of ensuring transparency among member States. Cameroon’s membership and quest for transparency and compliance to EITI Rules between 2005 and 2015 was not an easy ride as it faced some hurdles. Though accepted as Candidate Country in 2007, her inability to institute transparency in the sector made it impossible for her to attain Compliance Status, three years after, as stipulated by EITI regulations. She was again retained as Candidate in 2013 and the satisfactory implementation of EITI Rules between 2013 and 2015 elevated her to the position of Compliant Country even though some adjustments were postulated by EITI. It is hoped that the pitfalls recorded by Cameroon in the EITI processes can serve as lessons to aspiring candidates in the search for compliance within EITI. Besides, efforts made by Cameroon through the EITI processes can also be adopted or extended to other sectors of the economy in order to boost transparency which is perilous in the country.

Keywords


Extractive Industry; Transparency; Cameroon; Resource Governance; Oil and Gas;

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DOI: 10.21113/iir.v10i1.556

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