Heeding calls for a more transparent extractive sector, the government through the Liberia Extractive Industry Transparency Initiative (LEITI), in Monrovia on Monday formally launched the ‘Opening Extractives Program’—a global program to advance beneficial ownership transparency. It aims to end the use of anonymous companies linked to corruption and mismanagement in the extractive sector. “This is an essential tool aimed at mobilizing stakeholders and creating public awareness for the opening extractive program in the country,” Minister Wolokollie, who officially launched the program, noted. We will be glad to develop the extractive sector register.” It is anticipated that the full economy register will eventually follow. She pledged her entity’s commitment to providing technical assistance in the next phase of the beneficial ownership implementation – through guidance to reform policies, support with establishing a regulatory and legislative framework that will support beneficial ownership transparency.
