Extractive Industries Transparency Initiative

14-May-2019

Economic Brief - Fairer Mining Concessions in Africa: How can this be Achieved?

Key Issues • Mining is an important sector in Africa. • The sector’s potential contributions to development are high but not always realized due to limited government revenues from concessions. • A fairer sharing of resource rents that increases government shares and allows investors to realize reasonable returns is necessary for the sector to better contribute to development.
03-Feb-2014

Africa: Urgent action needed to link mining with region’s development objectives

Celebrated for the first time, Africa Mining Vision Day calls for a more sustainable, people-centred mining agenda On the margins of Africa’s largest annual mining conference, “Mining Indaba”, taking place from February 3-6 in Cape Town, South Africa, multilateral development organizations have called on the private sector to join forces with them in ensuring the revenues from mining are reinvested in people. Issued on the newly created Africa Mining Vision Day – February 3 – the call comes amidst a downward trend in commodity prices and in particular minerals, which has raised...
12-Dec-2013

AfDB to play a greater role in natural resources stewardship on the continent

“The current commodity super-cycle being enjoyed by resource-driven economies could simply disappear without lasting benefits if it is not harnessed into durable development outcomes. To contribute to addressing this challenge on the African continent, the African Development Bank has established the African Natural Resources Center, to offer real-time and coordinated advisory services, technical assistance, and capacity building to its Regional Member Countries,” said Mthuli Ncube, AfDB Vice-President and Chief Economist, while chairing a panel on “Better stewardship of Natural Resources” as...
11-Dec-2013

AfDB Launches Information Center for the Extractive Sector

The African Development Bank (AfDB) on Wednesday, December 11 in Nairobi, Kenya, launched the Information Center for the Extractive Sector (ICES), a platform that promotes knowledge-based dialogue with the aim of promoting informed policies for the sector. AfDB Director for the Eastern Africa Resource Centre (EARC) Gabriel Negatu pointed out the timeliness of the information center, saying the opportunity to use the sector to accelerate national development and promote economic growth requires careful planning at this critical stage. According to government estimates, extractives...
09-Dec-2013

Report on “a future partnership between France and Africa” pays tribute to work of the AfDB

Thirty-two times. Indeed, the initials “AfDB”, for African Development Bank, appear 32 times in the report entitled “Un partenariat pour l’avenir: 15 propositions pour une nouvelle dynamique économique entre l’Afrique et la France” (“A partnership for the future: 15 proposals for a new economic dynamic between Africa and France”). The 166-page document was compiled by Hubert Védrine, former French Minister for Foreign Affairs, with Lionel Zinsou, Tidjane Thiam, Jean-Michel Severino and Hackim El Karoui. It was officially delivered to Pierre Moscovici, the French Minister for the Economy...
08-Oct-2013

OECD Forum on Africa focuses on turning uneven economic growth into shared and sustainable economic transformation

The task is to unleash the full potential of the continent’s natural capital – to which its growth is so closely tied – and in so doing to empower its human capital, which is what will ultimately sustain it, far beyond the time when the continent’s natural resources and their high prices run out. We need to turn finite wealth into infinite wealth, natural wealth into created wealth, and resource-based economies into diverse knowledge- and industry-based economies which create jobs. Donald Kaberuka for This is Africa / Financial Times “We can pat ourselves on the back for two minutes today...
19-Jun-2013

G8 Pledges Strong Support for AfDB Infrastructure Agenda

The Group of Eight most industrialized countries (G8) has expressed strong support for the African Development Bank (AfDB) Group’s priorities, especially its initiative on infrastructure and the African Legal Support Facility – which helps countries negotiate better contracts in the natural resources sector. In a final communiqué after meeting in Northern Ireland, the G8 also called for strong replenishment of the African Development Fund – which supports a range of poverty reduction programmes, including infrastructure development and capacity building. “The G8 urges multilateral...
19-Jun-2013

G8 Countries Commit to Boosting Development Efforts of African Partners

In a statement released on June 18 at the closing of the Group of Eight 2013 summit in London, the G8 countries of France, Germany, Italy, the United Kingdom, Japan, the United States, Canada and Russia praised the development efforts made by Africans citizens, governments and institutions, including the African Development Bank Group, and committed further support.   “Africa is the next emerging continent, with a growing share of the world’s trade, investment and economic output. We have an historical opportunity to work with our African partners to help promote inclusive and...
17-Jun-2013

British PM praises AfDB, Kaberuka for Africa infrastructure work

British Prime Minister David Cameron has praised the African Development Bank (AfDB) and President Donald Kaberuka for pioneering initiatives to scale the continent’s infrastructure development. Cameron spoke in London on Saturday, June 15, 2013 at a meeting he convened to discuss the G8 agenda of trade, transparency and fair taxation with African political and financial leaders. The Presidents of Senegal, Ghana, Tanzania and Somalia, as well as the finance minister of Nigeria were among those who attended the high-level event at Lancaster House. Prime Minister Cameron praised the...
16-Jun-2013

AfDB President Applauds G8 for Emphasis on Greater Transparency in Taxation

African Development Bank (AfDB) President Donald Kaberuka on Monday applauded the G8 for its emphasis on the issues around resource mobilization through greater transparency in taxation of Africa’s natural resources. Speaking as G8 leaders began meeting in the United Kingdom, Kaberuka urged the international community to promote transparency, curb tax evasion and ensure more balanced contracts in the natural resources sector. He said transactions in the sector were very opaque. “It is only in this way that our countries will be able to find the financial resources they need to fund...
16-Jun-2013

Kaberuka Urges Fair Tax Regimes for African Natural Resources

African Development Bank President Donald Kaberuka on 15 June 2013 attended a pre-G8 summit in London, where he called for fair and transparent taxes on African mineral resources. The meeting was convened by British Prime Minister David Cameron and also attended by the presidents of Ghana, Senegal, Tanzania and Somalia, as well as other dignitaries in finance and international affairs. Links G8 Website
29-May-2013

Natural Resources: Putting the interests of Africans First

Political leaders, finance experts have expressed the need to give priority to Africa’s premier resource, its people through good governance and the use of proceeds from natural resources to train and build capacity for sustainable development. The African Development Bank (AfDB), holding its Annual Meetings in Marrakech from 27-31 May, devoted the 28th of May to two seminars on natural resources, agriculture, mining and  energy production and human development, as well as the use of income they generate. The discussions were organized around the theme: “Africa's natural resources,...
25-May-2013

The 50th Anniversary Celebrations of the African Union - Remarks by the AfDB President Donald Kaberuka

Event: African Union 50th Anniversary Celebrations Let me begin by offering my congratulations to the AU. I have been asked to focus on the economic side of your proclamation. This is the most exciting time in Africa. Africa’s economic journey over the past 50 years has been a tortuous one. Many achievements, but numerous setbacks. In our quest for a prosperous Africa, which is a dynamic force in the global arena, we need to take note of three things. First, the world is now different from what it was in the last 50 years. Economic power is no longer concentrated in Western Europe...
27-Feb-2013

High-Level Policy Seminar on Managing Revenues and Optimizing the Benefits of Coal and Gas Resources in Mozambique

The African Development Bank, in collaboration with the Government of Mozambique, is organizing a high-level policy seminar on the theme “Managing Revenues and Optimizing the Benefits of Coal and Gas Resources in Mozambique” in Maputo from February 27-28, 2013. This seminar takes place against the backdrop of Mozambique’s recent experience in a boom in extractive industries which are expected to accelerate in the coming years as recent discoveries have confirmed coal and gas reserves estimated at 25 billion tons and between 50 and 70 trillion cubic feet, respectively. Seismic activities in...
01-Nov-2012

Good Contracts and Clear Politics Needed to Benefit from Natural Resources

Countries have the sovereign responsibility and their citizens expect them to use their natural resources responsibly, Roger Nord, the Deputy Director, IMF Africa Department, said on Wednesday, October 31, at the ongoing African Economic Conference in Kigali, Rwanda. One sure way to achieve this is to ensure that right from the start they negotiate contracts that are in their interests. Countries that are already in agreements that disfavour them should find all means possible to renegotiate them, he added. The best place to start, according to Prof. Chukwuma Soludo, the...
16-May-2012

Africa Needs Fair Deal from its Vast Mineral Riches, Reports AfDB

Mining is such a key sector in the African economy that more than half its countries export some major mineral commodity, and for 13 of those countries, mineral exports account for at least half of export revenues. Yet this enormous wealth is not translating into as much revenue to government exchequers as it should, and as a result is hampering the development of African countries, argues a report from the African Development Bank (AfDB) The issue is of direct concerns to development finance institutions (DFIs), including the AfDB. The reason, says the report entitled ‘Fairer Mining...
12-Apr-2012

Gold Prices Soar but Africa Loses out, Says AfDB Paper

Africa is not cashing in enough from its large gold resources, despite the spiralling price of the precious metal over recent years, according to a working paper published by the African Development Bank (AfDB). The paper, entitled ‘Gold Mining in Africa: Maximizing Economic Returns for Countries’, points out that gold mining is a significant activity in at least 34 of the continent’s 54 countries. Africa’s annual average gold production is 480 metric tons, or 20 percent of the total average annual global output of 2,400 metric tons. The price of gold has soared by more than five...
03-Apr-2012

Working Paper 147 - Gold Mining in Africa-Maximizing Economic Returns for Countries

How to ensure that mineral resource wealth contributes to sustainable economic development has been a perennial topic concerning many African countries. It is an especially pressing issue in countries that are rich in resources, but perform poorly on a host of development indicators. Too many countries export resources, often through multinational firms, while the citizens enjoy little of the resource endowment. This occurs mainly due to unfair concession agreements and/or the mismanagement of the resources revenues.
16-Feb-2012

AfDB makes €11.7 million loan to improve governance and growth in Niger

The African Development Bank (AfDB) Group has approved a loan of €11.7 million euros (FCFA 7.7 billion) to Niger from the African Development Fund, its concessional or ‘soft loan’ arm, to finance better governance and boost inclusive economic growth in the country. The money will be used for its domestic resource mobilization and economic and financial governance improvement support programme, known as PAMOGEF. The loan agreement was signed in Tunis, on 10 February, by Janvier Litse, AfDB Ag. operations vice president, and Amadou Boubacar Cisse, minister of planning, Niger land...
23-Jun-2011

Working Paper 128 - China’s Manufacturing and Industrialization in Africa

China, as well as several other Asian economies, has achieved spectacular growth rates through opening markets to facilitate sensible price signals, operating trade and exchange rate policies that favour exports over imports in at least the initial stages, providing a sound incentives framework for investment, and developing large-scale physical infrastructure. These policies have fostered dynamic gains from increased production and export of manufactures. In Africa, by contrast, the acceleration of growth from 2001 until the global recession was based on higher primary commodity prices,...