ALCSS 2019

Our Executive Director Business Development, Mr. Jide Jadesimi attended Africa Oil and Gas Local Content Sustainability Summit, ALCSS 2019. Below are his thoughts:

He said “The goal of local content is not simply “maximizing” rather “optimizing” domestic participation.” To become more competitive to international mining firms, governments may seek to create a more investor-friendly business environment. But these actions should not override the reasonable consideration of retaining as large a proportion of resource wealth as possible in-country.

Key takeaways to achieve sustainable local content are:

1. Local content policy needs to be aligned with broader national development objectives, where natural resources help accelerate the achievement of the development goals.
2. Integrity in the tendering process is pivotal, by following guidelines like the Extractive Industries Transparency Initiative (EITI).
3. Local content success needs support from the private sector, thus fostering the development of SMEs is critical.

Oct 21st, 2019