‘Track mining proceeds’
By Wezzie Gausi:
The Council for Non-governmental Organisations in Malawi (Congoma) has called upon the government to establish a separate account where proceeds from the mining industry will be kept.
For some time, mining players have been complaining that money realised from the industry is not well accounted for.
In an interview, Congoma Executive Director Ronald Mtonga said the separate account will help improve accountability.
“As we are thinking of coming up with the mining company and mining council, there is a need to also start the process of having a separate account for the mining sector just like Marep has one.
“It is through this account that this country will be able to develop. The money can be spent on things that are profitable,” Mtonga said.
Natural Resources Justice Network Chairperson Kossam Munthali said having a separate account for mining proceeds is a good proposal as the proceeds must be strictly used.
He said he hopes that the money will develop communities where mining ventures are taking place.
“It is unwise to use proceeds of mining to develop other communities while communities where the proceeds are coming from do not benefit. That’s unfair and unacceptable,” Munthali said.
Recently, the Ministry of Mining said they need K5 billion to operationalise the mining company which the ministry registered to oversee operations of the mining industry in the country.
