Zambia has a long history of mining. Mining is the mainstay of the economy of Zambia. That is why the country has joined the Extractive Industries Transparency Initiative (EITI).
The Extractive Industries Transparency Initiative (EITI) is a coalition of donors, mining companies, resource-rich countries, Civil Society Organizations and investors. The main objective of the EITI is to disclose what gas, oil and mining companies pay to Government and what Government receives from these extractive companies as revenue. The purpose of disclosing this information is to promote transparency and accountability in the use of our natural resources. Zambia joined the EITI in order to maximize the benefits from the extractives industries sector. The increased benefits will in turn contribute to economic growth and development in the country.
To date several countries from Africa, Latin-America, Europe, USA, Asia, the Middle East and the Caribbeans have joined the initiative.
The EITI was formally launched in Zambia July 2008 at a workshop organized by the government. The objective of the workshop was to make stakeholders (namely: government, mining companies, and civil society) to reach consensus on the introduction of EITI in Zambia. This included the establishment of the Zambia EITI Council (ZEC), drafting of the costed work plan for Zambia, and the appointment of a senior government official to lead the Zambia EITI Council. Since then the Zambia EITI Council and the Zambia EITI Secretariat have been established.
For more details on EITI click here