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Ethiopia Takes Steps Towards Transparency with Beneficial Ownership Requirements

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In a significant move towards greater transparency, Ethiopia has made progress on implementing beneficial ownership requirements in line with the Extractive Industries Transparency Initiative (EITI) standards.

A Roadmap to Disclosure: Initial Steps

The country’s EITI multi-stakeholder group (MSG) had initially developed a roadmap for disclosing beneficial ownership information by December 2016. However, international experts identified several weaknesses in the roadmap and offered support to Ethiopia EITI to address these gaps.

Challenges and Obstacles

• Resistance from extractive companies in the country
• Weaknesses in the initial roadmap

Overcoming Challenges: Expert Support

To provide guidance on implementing the beneficial ownership requirements, Michael Barron and Tim Law were appointed to work with Ethiopia EITI. In March 2017, they conducted a scoping study that reviewed existing legislation and interviewed stakeholders from government, civil society, and industry.

Study Findings

• Key areas for improvement in the roadmap
• Recommendations for addressing weaknesses identified in the roadmap

Progress Towards Transparency

Following the publication of the reports, Ethiopia EITI was able to rectify the issues with its roadmap, paving the way for greater transparency in the country’s extractive sector. The companies in scope for reporting also gained a deeper understanding of their obligations under the EITI requirements and the benefits of disclosing beneficial ownership information.

Achievements

• Rectification of weaknesses in the roadmap
• Greater understanding among companies of their obligations and the benefits of disclosure