Togo validated 20 EITI requirements out of 27- Komi Selom Klassou

Tuesday, 16 October 2018 17:03
Togo validated 20 EITI requirements out of 27- Komi Selom Klassou

(Togo First) - Eight years after it joined the Extractive Industries Transparency Initiative (EITI), Togo made significant progress thanks to the efforts deployed. "Out of the 27 requirements of the EITI standards, Togo validated 20", Komi Selom Klassou, Togo’s prime minister, said on October 15, 2018, during the seventh ordinary meeting of national EITI supervision committee in Lome.

The results are explained by the modernization of Togo’s mining code that the country plans to harmonize with WAEMU community framework. They are also due to the instauration of the law related to mining companies’ contribution to local and regional development and the reforms initiated for operationalization of institutions in charge of the implementation of EITI.

There is also the creation of Togo revenues bureau (Office Togolais des Recettes-OTR), establishment of the  HAPLUCIA, in charge of the fight against corruption and related crimes, and the elaboration of the 2019 finance law focused on a management that brings results.

Despite these good performances, Togo which was declared compliant with EITI standards in Sydney in 2013 is not planning to stop there. “A second validation is expected in November 2019 to assess the performances realized in the seven remaining others [requirements]”, Komi Selom Klassou added.

In 2017, extractive industries represented 18.5% of total exports and contributed about 3.5% to GDP and 2.5% to revenues. For the current year, these industries' contribution to the country's revenues has already been estimated at 3.5% by the end of September. 

Octave A. Bruce

togofirst mobile

Should we encourage young togolese toward agriculture?
  • 57 Votes
  • 25 Votes
  • 20 Votes
    Don't have opinion
← Back
Total 102 Votes

To contact us: c o n t a c t [@] t o g o f i r s t . c o m

Please publish modules in offcanvas position.