(Ecofin Agency) - Senegal has been part of the Extractive Industries Transparency Initiative (EITI) since October 2013. A local committee oversees the implementation of the EITI Standard and publishes annual statistics on the extractive sector's economic contributions.

At the Council of Ministers meeting on January 22, 2025, Thialy Faye was appointed as the new chairman of Senegal's national EITI committee, replacing Oulimata Sarr, who had led the committee since February 2024.

According to the Council's press release, Faye has an advanced degree in environmental law and a Master’s in tax policy and administration. His LinkedIn profile states he has been a Program Manager at Oxfam Senegal since January 2021.

Faye will now ensure compliance with EITI requirements in Senegal's mining and hydrocarbon sectors. In 2023, revenues from the extractive sector reached CFA380.03 billion ($604.6 million), with CFA346.19 billion going directly to the state budget. The sector represented 4.7% of Senegal's GDP and accounted for 31.9% of exports in 2023.

These figures highlight the extractive sector's economic importance, which the new chairman will focus on managing transparently and efficiently. His appointment comes as the government is renegotiating oil, gas, and mining contracts to enhance benefits for the country.

Thialy Faye will also work to improve financial disclosures and information regarding social, environmental, and fiscal payments made by extractive companies. During his tenure, he will help better assess the artisanal sector's economic contribution to Senegal's mining industry.

This article was initially published in French by Emiliano Tossou  

Edited in English by Jason Ange Quenum