Mineral wealth success, failure is pegged on transparency

Mining Cabinet Secretary Najib Balala is right to lobby for a uniform legal and fiscal regulatory framework for the eastern Africa region’s mining sector considering that some investors are known to pit one country against another in their efforts to get the best deal for themselves at the expense of local citizens.

This partially explains why some developing countries remain mired in poverty despite having huge mineral deposits whose exploitation turns external investors into overnight millionaires.