Following notification in September 2020 of Angola’s intention to join the EITI, we are pleased to confirm that Angola’s formal application has now been received. The application will be reviewed and tabled for decision at the upcoming EITI Board meeting on 16-17 June.
“This application is a landmark moment,” said Mark Robinson, EITI Executive Director. “Angola is the second largest producer of oil and gas in Africa, and the Angolan economy is heavily dependent on revenues from the sector. Multi-stakeholder dialogue and increased transparency through EITI implementation can support Angola in addressing governance challenges in its extractives sector, to the benefit of Angolan citizens.”
The application from Angola will follow the established process for countries to sign up to the EITI. The EITI Board’s Outreach and Candidature Committee will review the application, and make a recommendation to the EITI Board on whether it should be accepted.
The Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, stated: “The submission of the application is a result of a huge effort by government, civil society and industry. Joining the EITI will improve transparency and governance of Angola’s rich mineral, oil and gas resources, address corruption risks and contribute to investment promotion.”
In a previous statement, the EITI has noted that it was opacity in the Angolan oil sector that led to the formation of the EITI in 2003. Almost twenty years later, 56 resource-rich states have committed to improving extractive sector transparency by implementing the EITI Standard. If the application is successful, Angola will become 28th country in Africa to implement the EITI Standard.