2024-03-20 07:45:37
Despite a relatively low score of 67 points out of 100 during the last evaluation for the implementation of the EITI (Extractive Industries Transparency Initiative), Madagascar’s membership is reconfirmed. Corrective measures must be put in place by the next assessment in 2026 to avoid exclusion.
The EITI Board has concluded that Madagascar has achieved a relatively low overall score in relation to EITI implementation. Although the country has maintained transparency in the mining, oil and gas sectors, insufficient resources have posed challenges to certain aspects of EITI implementation, including transparency of contracts and identity of parties. beneficial owners and contribution to public debate.
The latest validation report from Madagascar to the EITI denounces slow progress in terms of transparency. Information on licensing and cadastre systems in the oil, gas and mining sectors is publicly available, and the mining cadastre is an example of good practice in licensing transparency. However, oil, gas and mining contracts remain undisclosed and progress on beneficial ownership disclosure has been slow.
Despite valuable mineral resources, including one of the world’s largest nickel mines, exports and mining activity in Madagascar have declined, including moratoriums on mining licenses and oil exploration. and gas. These moratoriums have recently been lifted to strengthen the development of the sector and stimulate economic activity, introducing new difficulties and opportunities in terms of sector management.
A new data center will be established by September to provide detailed information on mining revenues and company contributions. This project, funded by the United States Embassy, aims to promote transparency and facilitate access to data for all stakeholders, including investors.
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