Sub-Saharan Africa is experiencing a significant oil boom and the injection of large amounts of revenues from oil, gas and mineral extraction presents an enormous challenge. This money should serve as a basis for economic growth and poverty reduction across Africa, yet history shows that resource revenues have not generally contributed to better development outcomes. Portuguese-speaking countries in Africa, such as Guinea Bissau, Mozambique, Sao Tomé and Principe, and Angola are rich in oil and/or minerals and, while their experiences often vary, these countries display important similarities and complementarities. In this context, civil society organisations from these countries have expressed a need to better coordinate in order to facilitate exchange and learn from each other’s experiences. Sao Tomé and Principe in particular is attempting to ensure its future oil wealth is harnessed for development by introducing legislation designed to ensure transparent management of oil revenues. The Publish What You Pay (PWYP) coalition, International Alert and UNDP organised a roundtable discussion, 'Oil Revenue Management in Sao Tomé and Principe (STP), and Regional Coordination Meeting of Civil Society from Portuguese-speaking Countries', which took place in Sao Tomé and Principe from 29 to 31 October 2007. This report is an overview of the conference and discussion.
- Author(s):International Alert
Publish What You Pay Coalition
- Date:October 2007