Minister Gabriel Dodo and EITI stakeholders in Cameroon
The Minister of Mines, Industries, and Technological Development, Gabriel Dodo Ndoke, who also serves as the Deputy Chairman of the Extractive Industries Transparency Initiative (EITI) committee, presided over the closing ceremony of a workshop to publish a report on beneficial ownership in the extractive industry on Monday, October 19, 2020.
The workshop, held at Mont Febe Hotel, was attended by EITI officials, representatives of the Prime Minister, and EITI committee members.
Cameroon, a country rich in natural resources, faces challenges in the mining sector due to illegal activities. The publication of the report on beneficial ownership was aimed at identifying actors involved in the industry and holding them accountable to curb illegal activities.
According to the Minister of Mines, Gabriel Dodo Ndoke, beneficial ownership in extractive industries is a mechanism recommended by the EITI to ensure transparency among all actors in the industrial chain, as well as the administrators of extractive resources.
“It is precisely about revealing those who decide, manage, and control resources in the field, ensuring that the states, which own the resources and are the first to benefit from them, actually do so. What we have done here today is part of a global recommendation that took effect in January 2020. Cameroon is a member of this initiative and should not be left behind. The purpose of this workshop is to inform the public and all actors in the extractive industry that now, more than ever, transparency is essential, and everyone must play their role to achieve the desired results,” said Minister Gabriel Dodo.
To facilitate the disclosure of beneficial ownership data, the EITI committee engaged the services of BDO Tunisie Consulting, which conducted a study to guide Cameroon in the systematic disclosure of the identity of beneficial owners in the extractive sectors.
Public and private organizations committed to fighting illicit financial flows and corruption, such as CONAC, ANIF, the Chamber of Accounts, and various Civil Society Organizations, were also involved in the initiative.
The success of this effort could save Cameroon substantial sums of money by addressing hidden activities in the mining sector.