Governance is key in Africa's OIl and Gas sectors
Last week, the United Nations Conference on Trade and Development (UNCTAD) held a conference on African oil and gas , with this year’s theme being good governance. The 16th African Oil, Gas and Minerals Trade and Finance Conference and Exhibition provides an opportunity for dialogue among the various stakeholders of extractive industries. This year’s conference focus on governance is even more critical as it will help to stimulate debate on issues of accountability and transparency. And, with the new oil and gas discoveries in East Africa, this is the opportune time to discuss governance. Since African extractive industries are often shrouded in secrecy and lack clear revenue management and accountability mechanisms, good governance is essential for African countries to properly harness their natural resources for development. A focus on the governance of natural resources is even more pressing at this time when Africa is fast emerging as the new frontier for mineral r