cc Following the conclusion of a prolonged international metal price increase, this report, published originally by Southern Africa Resource Watch, TWN-Africa, Tax Justice Network for Africa, ActionAid and Christian Aid, questions why Africans of mineral-rich countries continue to live in poverty. Despite a thriving global mining industry, minimal revenue has been contri...read more
cc Following the conclusion of a prolonged international metal price increase, this report, published originally by Southern Africa Resource Watch, TWN-Africa, Tax Justice Network for Africa, ActionAid and Christian Aid, questions why Africans of mineral-rich countries continue to live in poverty. Despite a thriving global mining industry, minimal revenue has been contributed to the livelihoods of African citizens; they are excluded from the governance of mining taxation and frequently exposed to conflict as a result of wealth generated from this inequitable industry. In addition to the aggressive tax avoidance strategies employed by mining companies, some African governments have played a complicit role in providing tax subsidies to the industry, thus inhibiting any potential improvement in the quality of the lives of their citizens. The authors of this study suggest that a more equitable and transparent form of mining taxation must be implemented to benefit Africans in the future. In order to achieve this, they propose a reform in the policies, laws and the institutions governing financial payments, as well as an international financial reporting standard.