#africanews #Bassirou Diomaye Faye #senegal What is the point of accepting foreign companies into your country to explore the resources if it will not benefit the country? The fact is there is no point. It's far better that the resources remain untouched than for these companies to come in, explore, gain huge profits, pollute the environment, and displace local people from their homes while giving the government a measly sum as compensation. The newly elected President of Senegal understands this, and that is why during his presidential campaign, he pledged to renegotiate mining and fishing contracts with these Western companies. And, now that he won the election, becoming the youngest elected president in the world, the President has taken steps to put the plan of renegotiating the mining contract in motion. After his Inauguration on April 2nd, president Faye announced that his administration intends to conduct an audit of the oil, gas, and mining sectors.
The exploitation of our natural resources, which according to the constitution belong to the people, will receive particular attention from my government," he said. I will proceed with the disclosure of the effective ownership of extractive companies (and) with an audit of the mining, oil, and gas sector, he added. The President also reassured investors that they were welcome in Senegal. "Investor rights will always be protected, as well as the interests of the state and the people," he added. From this statement, you can see that the President is fair. He said investors rights would be protected but the interest of the state and the Senegalese people would also be protected. Unfortunately, most of the mining contracts signed between African countries and Western companies usually prioritize the rights of investors over the interests of the people, which ought not to be so because, in truth, the resources belong to the people and not the investors.
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