Natural Resources Good Governance: Mozambicans resources should be managed with more transparency

Economic growth in Mozambique should benefit the social development of the population and not just an elite, argues Paul Collier , professor at the University of Oxford .

Paul Collier, Centre for African Studies University of British expert believes that transparency is needed in the management of natural resources that the country has in abundance, so that development is more equitable and sustainable. The academic Interviewed on the sidelines of a conference in Lisbon on Monday (31.03) on economic and financial development in Africa, gave his advices to the southern african country.

What is your opinion on the use of proceeds for the development of Angola and Mozambique?

Paul Collier (PC) : It is my understanding that there are elites with a lot of power. This power leads to having access to large amounts of money. This money is not being used for the benefit of the entire population. Is primarily to benefit the elites. Mozambique is not to build an inclusive process. The aim should be not only the elections to get votes. The key is to not only win the elections. You also need a mechanism to check and Monitoring of how power is used.

Do you recognize that it is necessary to implement answers to real economic and social inclusion?

PC : Yes, not only is social inclusion to cover more people . Also you need, step by step and make a political and economic integration of the entire country. The focus should not be facing the elites as happens at the moment. It should use such control mechanisms. The power of these elites, the political ruling class, to use public money needs to be radically limited.

In your opinion, is Mozambique facing a major challenge to build a sustainable economy as a lever of development?

PC: The country needs infraestructures than ever. Mozambique has very valuable natural resources that could be able to finance this development. The challenge is to provide a link between the resources that exist under the ground (which will be explored in the next 20 years), and the construction of infrastructure that need to be made ​​in the next 5 years. This connection must be transparent, because otherwise there will be a lot of corruption. This relationship must also be credible to external private funding go to these countries.”

What mechanisms, in his view, should be used to ensure transparency?

PC: The alternative is to create, as economists, a mechanism of commitment, ie, legal processes that give confidence to the private sector, which provides investment and return on capital, as with the private financial sector of countries say OECD (Organization for Economic Cooperation and Development). So we have a process with more transparency.

In this interview the British academic stresses that with transparency, good governance and the many resources and opportunities , Africa will grow significantly compared to the rest of the world economy, which, in many parts, faces the effects of the crisis. (Adopted from the Africa DW interview in Angola)