Togo has been admitted as a Candidate country within the Extractive Industries Transparency Initiative (EITI), the global standard for improved transparency in the oil, gas and mining sector. The EITI Board approved Togo candidacy application at a meeting on 19 October in Dar-es-Salaam, Tanzania.
In implementing the EITI, the government of Togo commits to disclose all taxes, royalties and fees it has received from the mining sector. Companies operating in this sector will publish what they have paid to the government. These figures will be reconciled by an independent reconciler, in a process overseen by representatives from government, industry and civil society organisations. Togo will also include the water sector in its EITI reports since water is considered an extractive resource under Togolese law.
In accordance with the EITI Rules, the EITI Board agreed that Togo has until 18 October 2012 to complete an ‘EITI Validation’ - an independent assessment of compliance with the EITI’s requirements. Countries that meet these requirements are designated as EITI Compliant. To date, five countries have achieved this standard: Azerbaijan, Ghana, Liberia, Mongolia and Timor-Leste. Togo joins a further 27 other EITI Candidate countries that are working toward this goal.
For further information about EITI implementation in Togo, contact Regional Director Marie-Ange Kalenga at the EITI International Secretariat.