Tanzania has made commendable improvements in governing the mining sector so far and more steps will be taken to enhance the effective running of the industry.
Revenue Watch Institute (RWI) revealed in their 2013 Resource Governance Index that Tanzania had performed well in quality control, safeguards and budgetary process.
Senior Regional Associate of RWI, Mr Silas Olan’g said “Tanzania has performed well but it was not the best score”.
According to Olan’g, the index ranked Tanzania 27 of 58 countries, an improvement from the previous report under which Tanzania was among five countries with the lowest scores.
Tanzania mining industry has grown at an astounding rate since liberal mining legislation was introduced in the 90s and the industry has attracted significant foreign direct investment since then, however proper governance has been a key factor in seeing the sector through its full capacity.
Now with a focus on quality control, safeguards and budgetary processes, the mining sector will see an added boost of efficiency to operate more smoothly in Tanzania’s fast-changing mining industry and recent discoveries of oil and gas that will make the sector even more demanding of effective services and governance.
