A cross section of SLEITI MSG members led by the SLEITI National Coordinator Mohamed Baimba Koroma have successfully ended a week-long peer learning exchange in Monrovia on Beneficial Ownership Disclosure (BO) and other EITI requirements as part of a coveted approach to EITI implementation. The engagement which was held from the 7th-13th May 2024 comes following the significant progress Sierra Leone and Liberia have recorded since signing up to the initiative which promotes good governance of Oil, Gas, and Mineral resources. 

Funded by the GIZ through the Regional Resource Governance in West Africa ( ReGo), the Sierra Leone delegation to Liberia comprise representatives from the National Minerals Agency, Corporate Affairs Commission, National Revenue Authority, Ministry of Mines and Mineral Resources, National Coalition on Extractives, Network Movement for Justice and Development, SLEITI Secretariat Staff, and Financial Intelligence Unit.

In as much as it was a diverse group of key ministries and agencies governing the extractive sector and their financial processes, the deliberations which ensued was tailored from the standpoint of EITI and alongside the roles and responsibilities each institution is expected to perform in the processes leading up to the development of a Beneficial Ownership register. The deliberations were led by Jefferey N. Yates and Mohamed Biamba Koroma, National Coordinators of Liberia and Sierra Leone EITI. In their presentations, both National Coordinators gave an overview of the their Beneficial Ownership Disclosure journeys highlighting progress in meeting the requirement. 

In the process, Sierra Leone gathered that Open Extractives supported Liberia from from the inception of the development of the BO Public Register coupled with strong government commitment and wider stakeholder participation. At the same time, the BO Register is underpinned by several parent laws governing the sector. On the other hand, Liberia commended Sierra Leone for its BO provision in the new Mines and Minerals Act and its approach in disseminating EITI reports. Liberia also commended Sierra Leone for developing the braille version of its EITI report for ease of access by the visually impaired. These more stood out clearly in the general takeaways of both countries. 

 While the bigger picture was to understand the approaches adopted by Liberia in developing their BO Public Register and the aspects of data collection, management, public access, and data security, both countries leverage on the opportunity to shed light on forward looking approaches in implementing the requirements on Energy Transition, Revenue Management, Anti-Corruption, and Gender and Environmental Issues. 

The Successful conclusion of the peer learning further demonstrate the shared commitment of both countries in using the EITI Standard as a tool to strengthen governance of their extractive sectors and to ensure that the revenue generated contribute to sustainable development and economic growth.