Harnessing the potential of the extractive sector
Africa EITI Conference on Beneficial Ownership Transparency
Knowing who owns the companies that operate in the oil, gas and mining sectors is key to strengthening natural resource governance. It has also proven to be important to improve the investment climate and promote responsible business conduct. Through the EITI and other global and regional efforts to tackle the challenges posed by hidden ownership, African countries are taking the lead in improving beneficial ownership transparency in extractives. The conference will engage various stakeholders from government, civil society and companies to seek a way forward on Beneficial Ownership in Africa.
The event will be held at King Fahd Conference Centre.
Wednesday 31 October
- Keynote address by HE Macky Sall, President of the Republic of Senegal
- Opening Panel discussion: Beneficial ownership and Domestic Resource Mobilisation
How can ownership transparency be key to prevent tax evasion, mitigate illicit financial flows and raise revenues from extractives? Transparency leaders who are driving extractive sector reforms to improve availability of ownership information will share their experiences, progress and challenges.
- Official opening: Opening up ownership in oil, gas and minerals
Knowing who owns the companies that operate in the oil, gas and mining sectors is key to strengthening natural resource governance. It has also proven to be important to improve the investment climate and promote responsible business conduct. Through the EITI and other global and regional efforts to tackle the challenges posed by hidden ownership, African countries are taking the lead on improving beneficial ownership transparency in extractives. The opening plenary will demonstrate the commitment by African governments towards ownership disclosure.
Thursday 1 November – Friday 2 November (by invitation only)
- Plenary session: What are the emerging practices of beneficial ownership transparency in EITI countries?
- Parallel sessions on:
- Improving revenue mobilisation with ownership data: How publicly accessible information can help improve tax collection and preventing illicit financial flows by knowing where the flows go.
- Reducing risks in extractives licensing: Ensuring reputable investors and mitigating conflict of interest in the allocation of oil, gas and mining rights.
- Legal approaches to ownership transparency: How to establish a legal framework for beneficial ownership disclosure in oil, gas and minerals.
- Making the ownership register public: Where to start to when creating an ownership register and making it public.
- Getting accurate ownership data: How to verify beneficial ownership information.
- Identifying Politically Exposed Persons and potential conflict of interest: How to define PEPs and link ownership to asset disclosures.
- Using the EITI to improve beneficial ownership disclosures: Through piloting of beneficial ownership reporting through the EITI process, many African EITI member countries have begun collecting and disclosing beneficial ownership data. What have been the disclosed so far, and what are the opportunities for using EITI to improve beneficial ownership disclosures?
- Analysing ownership information: Practical examples and tools for using beneficial ownership data.
- Closing session on moving from commitments to action: How can government representatives and non-governmental actors work together to make beneficial ownership transparency in extractives a reality?