ITIE makes recommendations to improve governance in Togo’s extractive industries

Mining

Monday, 21 May 2018 17:03

ITIE makes recommendations to improve governance in Togo’s extractive industries

(Togo First) - In Togo, the Initiative for Better Transparency and Governance in Extractive Industries (ITIE), via its technical secretary, has made some recommendations to improve the industries’ performance.

The secretary suggested automatic release of relevant data to let people properly interpret those, hence initiate appropriate talks, when needed. Though this is already done with declarations made at the Togolese Revenue Office (OTR), the next step is to formalize information system at all offices in charge of the extractive sector. Also, these offices should be connected to related government services. This should be done in the second half of 2018, said Kokou Agdemadon, coordinator of ITIE’s technical secretary.

Next, regarding commodities trade, reliable mechanisms should be implemented to enable the State to rationally monitor these commodities, from production stage to end-users. This should help the government better control the cost of these products in the global market, with a new data system. Togo would be able to set their prices on a daily basis.

The last recommendation has to do with the publication of details related to firms’ ownership. ITIE’s service said measures are already taken, in this framework, to ensure that the real names of firms’ owners are released by January 1, 2020.

However, the State should first legally define real property, set a mechanism of identification of real owners of firms, among others.

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