A week-long peer exchange between Liberia and Sierra Leone marks a significant milestone in the advancement of Extractive Industries Transparency Initiative (EITI) implementation in both countries.
Hosted by the Liberian Extractive Industries Transparency Initiative (LEITI) the event facilitated a robust exchange of experiences, challenges, and strategies aimed at enhancing EITI compliance and effectiveness.
The exchange spotlighted the notable progress achieved by both nations in adhering to the 2023 EITI Standard. Of particular focus were Beneficial Ownership (BO) Transparency, Contract Transparency, and Anti-Corruption measures, areas where Liberia and Sierra Leone demonstrated commendable strides.
Sierra Leone gleaned valuable insights from Liberia’s experience, with key takeaways including plans to strengthen institutional collaboration on beneficial ownership, expand the scope of EITI reporting to include forestry and agriculture sectors, and enhance political commitment and advocacy efforts.
Additionally, Sierra Leone aims to bolster collaboration with anti-corruption agencies and civil society organizations, adopt Open Ownership Nine Principles, and develop a comprehensive Beneficial Ownership Regulation.
Meanwhile, Liberia drew inspiration from Sierra Leone’s innovative approaches, committing to incorporate Braille versions of EITI summary reports for visually impaired citizens and engage local authorities more actively in decision-making processes.
Moreover, Liberia intends to emulate Sierra Leone’s practice of involving senior-level officials outside the Multi-Stakeholder Group (MSG) in launching EITI reports.
Both nations expressed mutual determination to leverage this exchange for ongoing collaboration and learning, with Sierra Leone aiming to enhance its BO regime based on Liberian progress and Liberia poised to build upon Sierra Leone’s advancements ahead of its 2025 validation.
Jeffrey N. Yates and Mohammed B. Koroma, National Coordinators of Liberia and Sierra Leone EITI Secretariat, lauded the exchange as a catalyst for advancing EITI implementation in their respective countries, underscoring the invaluable support of the GIZ-Re-GO Project in their endeavor.
The successful conclusion of the peer learning event underscores the shared commitment of Liberia and Sierra Leone to transparent and accountable governance in the extractive sector, setting a promising trajectory for future collaboration and progress.
In attendance were esteemed representatives from key institutions including the Sierra Leone Extractive Industries Transparency Initiative, Financial Intelligence Unit, Corporate Affairs Commission, National Revenue Authority, Ministry of Mines and Mineral Resources, National Minerals Agency, and prominent civil society organizations such as the National Advocacy Coalition on Extractives and Network Movement for Justice and Development.
