Strathmore to develop transparency guides for Kenya

Nairobi-based Strathmore Extractives Industry Centre (SEIC) has been commissioned to develop a transparency and accountability framework to improve governance in Kenya’s extractives sector. A transparency and accountability (T&A) framework provides for reporting across the value chain, covering exploration and production, licensing and contracts, regulation and monitoring of operations, revenue collection, allocation and management. T&A are key principles of good governance in the hydrocarbons industry, providing better management of revenues, economic development of countries heavily dependent on oil or gas, strengthening relationships among stakeholders, avoidance of conflicts and prevention of corruption. SEIC executive director Dr Melba Wasunna said they will complete the framework within three months. “The objective is to increase good governance across the value chain in Kenya including contracts and revenues in accordance with international best practices of the crude oil and natural gas industry,” she said. “The project is carrying out research to analyse already existing information on transparency and accountability mechanisms in the petroleum sector to identify gaps and propose a plan to address gaps,” said Ms Wasunna. Tanzania is the only country in East Africa that is a member of the Extractives Industry Transparency Initiative (EITI) having subscribed in 2009. In October 2017, Tanzania was confirmed as having made meaningful progress towards meeting the 2016 EITI standard. The validation recognised efforts to institutionalise extractive sector transparency by adopting the Tanzania Extractive Industries Transparency Act 2015, which mandates revenue and contract disclosures. “The validation also demonstrated that the Tanzania EITI works for has provided useful information to the public domain and further opportunities to contribute to the government’s reform agenda,” said EITI. Kenya has not acceded to the EITI process. EITI inspires genuinely open, transparent and thorough auditing and multi-stakeholder scrutiny of payments made by companies and the disposal of those funds by recipient governments. From: http://www.theeastafrican.co.ke/business/Strathmore-to-develop-transparency-guides-for-Kenya/2560-4788138-fjaqd/index.html Photo: Nature Kenya 

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