By Mabinty M. Kamara
Politico has learnt that a proposal is now on the table for the government of Sierra Leone to engage Civil Society Organisations (CSOs) and address growing concerns about the proposed creation and operation of the Mineral Wealth Fund.
This move comes in response to complaints from CSOs, particularly those working in the extractive sector, who have raised significant issues regarding transparency, accountability, and the overall management of the fund. The meeting aims to foster dialogue and address the apprehensions of various stakeholders involved in the country's mineral wealth management.
According to sources close to the matter, the proposal for the government to engage with CSOs is now on the table, with discussions expected to take place this week. The CSOs have been vocal about their need for a transparent process, insisting on knowing the individuals and entities behind the independent management firm contracted to work with the fund.
The groups also demand that the recruitment of this firm involves comprehensive consultations with all relevant stakeholders, including mining companies and advocacy groups within the extractive sector.
The Ministry of Mines and Mineral Resources has also come under scrutiny for its role in the process. There is a perception that the ministry has failed to effectively manage the country's mineral resources, contributing to the current lack of transparency and accountability in the sector.
Civil society groups argue that without significant reforms in the Ministry of Mines and Mineral Resources, the Mineral Wealth Fund may not achieve its intended goals. They are therefore calling for the ministry to play a more active role in ensuring that the fund is set up and managed transparently, with the involvement of all relevant stakeholders.
Minister of Finance, Sheku Fantamadi Bangura, has highlighted the importance of the Mineral Wealth Fund in accruing more money from the mining sector and changing Sierra Leone’s approach to its mineral wealth. He acknowledged that the country has not benefited as much as it should from its resources and emphasized that the establishment of the fund would bring more transparency to the sector.
According to Minister Bangura, the fund is expected to address the loopholes in the current mining laws and enhance the robustness of capital raising for the government. He stressed that the fund would ensure it is no longer "business as usual" in the mining sector, ultimately benefiting future generations.
While neither the CSOs nor government officials have provided detailed information about the planned meeting, at least two individuals familiar with the situation have confirmed that arrangements are being made for discussions in the coming days.
This engagement is seen as a crucial step towards addressing the concerns of civil society and ensuring that the establishment of the Mineral Wealth Fund is conducted transparently and inclusively.
The government’s willingness to engage with CSOs indicates an acknowledgment of the importance of civil society's role in promoting good governance and accountability in the extractive sector.
The Mineral Wealth Fund, a vision promoted by President Julius Maada Bio, is intended to ensure that Sierra Leone benefits more effectively from its mineral resources. However, the initiative has faced criticism from civil society groups who are calling for greater transparency and involvement in the fund’s creation and operation.
The upcoming meeting between the government and CSOs is expected to be a pivotal moment in addressing these concerns and setting a precedent for future engagements between the state and civil society in managing the country’s natural resources.
Copyright © 2024 Politico (07/08/24)
