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Angola to join oil and extractives transparency group

Angola to join oil and extractives transparency group in an effort to fight corruption in revenues from oil, gas, and mineral extraction.

Angola to join oil and extractives transparency group www.africanstand.com


(African Stand) — Angola plans to join the Extractive Industries Transparency Initiative (EITI), an international effort to fight corruption in revenues from oil, gas, and mineral extraction.

Tete Antonio, Angola’s minister of foreign affairs, announced the move on Twitter late on Friday and said Angola “has clearly demonstrated its commitment to promote the open and accountable management of its natural resources for the benefit of its people.”

EITI, formed in 2003, has more than 50 implementing countries.

Angola’s President Joao Lourenco has embarked on an anti-corruption drive since taking power from Jose Eduardo dos Santos, who stepped down in 2017 after a near four-decade rule.

Earlier this month, a court in Luanda sentenced dos Santos’s son to five years in prison over a $500 million corruption case.

Africa’s second-largest oil exporter is also working to stem a steady decline in oil output due to a lack of investment.

Wandukwa Henry

Written by Wandukwa Henry

Wandukwa Henry is a graduate from the University of Nairobi with a Bachelor of Computer Science and now he is an African Stand correspondent covering the East African region.

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