Just a two hours ago, the Extractive Industries Transparency Initiative (EITI) Board, currently meeting in Bern, Switzerland, decided to approve Malawi’s application to join the EITI. This is momentous as civil society and other stakeholders have been advocating for Malawi to join the global transparency standard since 2009 in a bid to ensure Malawi’s natural resource wealth is governed well.

Breaking: #EITI international Board welcomed #Malawi as a Candidate country. @EITIorg in Berne pic.twitter.com/WU21fFXr1K

— Bady Balde (@BadyBalde) October 22, 2015

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The Board’s decision in full:

The EITI Board admits Malawi as an EITI candidate country on 22 October 2015. In accordance with the EITI Standard, Malawi is required to publish its first EITI Report within 18 months of becoming a candidate, i.e. by 22 April 2017. Malawi is required to publish an annual activity report for 2015 by 1 July 2016. Validation will commence within 2.5 years of becoming a candidate (by 22 April 2018).

In June 2014, the President of Malawi, Arthur Peter Mutharika, made a declaration to join the EITI in his inaugural address to the national assembly following the tripartite elections. Since then a multi-stakeholder group was formed, made up of four government institutions, four mining companies and four civil society organisations (see the full list below). This group has developed a work plan for the first two years of implementing the EITI and will oversee the activities with support of the MWEITI Secretariat in the Revenue Policy Division of the Ministry of Finance, Economic Planning and Development. The Minister of this ministry, currently Goodall E. Gondwe, is EITI’s champion.

On receiving news of the EITI Board’s positive decision, the Minister remarked

Malawi welcomes the EITI Board’s announcement today which highlights the Government of Malawi’s commitment to ensuring natural resources are stewarded with transparency and accountability for this generation and the next. The announcement by the EITI Board marks the fulfillment of the vision and commitment made by the State President Professor Arthur Peter Mutharika regarding transparency and accountability of revenues generated from the extractive natural resources in Malawi.

Under President Professor Arthur Peter Mutharika, this administration made the commitment to its people in June 2014 to sign up to the EITI. The Ministry of Finance, Economic Planning and Development is privileged to be leading MWEITI with a committed, diligent multi-stakeholder group made up of relevant government stakeholders, civil society and the private sector. We are convinced that through EITI we will build trust between stakeholders and enhance sector governance resulting in improving the socio-economic outcomes for all Malawians through our natural resource wealth.

Clare Short, Chair of the EITI, said:

Membership of the EITI comes at an important time in Malawi’s development, as natural resources begin to be of macroeconomic importance. The Government of Malawi has made a commitment to transparency that will help the people of Malawi ensure that natural resources are managed for their benefit.

Both of EITI’s voluntary standards – contract transparency and beneficial ownership – are in the workplan, as the stakeholders hope to see more dialogue and greater information in the public domain on who controls which assets and on what terms.

Malawi will celebrate this milestone in improving natural resource wealth with a cocktail held this evening in Lilongwe at Capital Hotel.

For further information, take a look at Malawi’s page on the EITI website.