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First Published October 2, 2018

By Kennedy Senelwa

  

Nairobi-based Strathmore Extractives Industry Centre (SEIC) has been commissioned to develop a transparency and accountability framework to improve governance in Kenya’s extractives sector.

A transparency and accountability (T&A) framework provides for reporting across the value chain, covering exploration and production, licensing and contracts, regulation and monitoring of operations, revenue collection, allocation and management.

T&A are key principles of good governance in the hydrocarbons industry, providing better management of revenues, economic development of countries heavily dependent on oil or gas, strengthening relationships among stakeholders, avoidance of conflicts and prevention of corruption.

SEIC executive director Dr Melba Wasunna said they will complete the framework within three months.

“The objective is to increase good governance across the value chain in Kenya including contracts and revenues in accordance with international best practices of the crude oil and natural gas industry,” she said.

“The project is carrying out research to analyse already existing information on transparency and accountability mechanisms in the petroleum sector to identify gaps and propose a plan to address gaps,” said Ms Wasunna. Continue reading...

Source: The East African

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