Following the Money Trail in Africa
Money Trail in Africa the Extractive Industries Transparency Initiative
Extractive Industries Transparency Initiative Explanation.
The Extractive Industries Transparency Initiative or EITI collects and validates data on financial management, accountability and transparency by African governments and companies in oil, gas and mining industries. Currently there are 27 African countries not participating in EITI's data collection on financial management, accountability and transparency.
|Following the Money Trail|
At a conference in London in June 2003, a Statement of Principles to increase transparency of payments and revenues in the extractive sector was agreed, The Extractive Industries Transparency Initiative, or EITI was born.
The EITI should also adopt the central principle of Section 1504 of the US Dodd–Frank Act, which requires companies to report on their payments on a project-by-project basis, rather than by providing aggregate national-level reporting a practice that can obscure potential sources of corruption and revenue diversion.”
The Extractive Industries Transparency Initiative (EITI ) of Africa as of November 2014. Countries not listed are not participating in EITI data on financial management, accountability and transparency.
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