Friday, April 21, 2017

Our Natural Resources Should Propel Our Development –Dr Manteaw

1:54:00 PM

Dr Steve Manteaw, Co-Chair of the multi-stakeholder committee of the Ghana Extractive Industry Transparency Initiative (GHEITI), has said natural resources in a given society is a key component for enhanced development.

However, he said, if such resources were not efficiently managed it could possibly erode democratic accountability as well as serve as a basis for conflict and social strife.

Dr Manteaw said this at a dissemination workshop organized by World University Service of Canada (WUSC) and Ghana Extractive Industries Transparency Initiative (GHEITI) at Daboase in the Western Region.

He said countries like Angola, Sudan, Liberia, Sierra Leone and the Democratic Republic of Congo were a few examples where poor resource management has resulted in social strife.

Dr Manteaw said many natural resource rich developing countries score poorly on fine governance and are found in the bottom third of the World Banks composite governance indicator rankings and also the bottom third of Transparency Internationals annual ranking of countries by perceptions of corruption.

He said GHEITI originated from the 2002 World Summit on Sustainable Development (WSSD) with the main aim of resolving problems in the extractive sector, adding that the initiative was grounded in a shared belief that the prudent exploitation of natural resource wealth would provide the basis for sustainable economic growth and contribute to sustainable development.

Madam Rachel Fosuwa Sarpong, the District Coordinating Director for Wassa East, said the dissemination workshop was timely to inform key stakeholders on the effects and benefits of natural resources.

She said the workshop would also promote popular participation which is a very critical tool in ensuring transparency and accountability in the management of revenue from mining resources.

Madam Sarpong said in the past revenue accrued from extractive resources were used for recurrent instead of capital expenditure which resulted in poor development outcomes.

She said GHEITI is around to promote the prudent exploitation of natural resource wealth, ensure that citizens benefited from the natural resource extraction and also provide citizens the opportunity for public debate on how revenue from extractive resource should be used.

By Ghana Leaks Blog

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