Burkina Faso Strengthens Beneficial Ownership Rules in Extractive Sector

Introduction

The Extractive Industries Transparency Initiative (EITI) is working with the United States Agency for International Development (USAID) to enhance stakeholders’ capacity in Burkina Faso to collect, disclose, and analyze data on beneficial ownership in the extractive sector.

Enhancing Transparency and Accountability

The EITI initiative aims to develop declaration forms for beneficial ownership and politically exposed persons tailored to the Burkinabe system. This move is part of efforts to strengthen EITI reporting and support institutions in Burkina Faso in collecting and certifying beneficial ownership data.

Key Objectives:

• Develop fit-for-purpose declaration forms for beneficial ownership
• Build capacities of institutions in Burkina Faso to collect and certify beneficial ownership data
• Enhance transparency and accountability in the extractive sector

Consultant Position Open

A consultant will work with the International Secretariat, the Permanent Secretariat of EITI-BF, and the EITI Burkina Faso multi-stakeholder group. The consultant will be responsible for developing declaration forms and building capacities of institutions in Burkina Faso.

Application Details:

• Applications open until June 15
• Interested parties required to submit both technical and financial proposals

Background

The EITI is an international organization that promotes transparency and accountability in the management of natural resources. Its members commit to disclosing information on how extraction rights are awarded and how revenues make their way through government and benefit the public.

Burkina Faso’s Commitment:

• A multi-stakeholder group composed of government, companies, and civil society supports implementation of the EITI Standard
• The initiative has already led to increased transparency in the extractive sector, with more than 50 countries implementing its standard

Expected Outcomes

The project is expected to contribute to the development of a robust beneficial ownership regime that promotes good governance, accountability, and transparency in Burkina Faso’s extractive industry.