Bono extracts pledge from Sarkozy on resource transparency

French President Nicolas Sarkozy told singer-activist Bono Sunday that he will spearhead efforts to force companies extracting raw materials in Africa to say how much they pay local regimes.

In a letter released by Sarkozy’s office, the French leader said he “totally” agreed with the Irish singer on the need to make the exploitation of raw materials in Africa more transparent.

The letter was in response to a letter by Bono published in French daily Le Monde calling on France to lead the way in supporting a European bill based on the “Publish What You Pay” concept, which aims to tackle state-level corruption and redistribute natural-resource revenues to the populations of African countries.

“I have decided to ask the European Union to adopt as quickly as possible legislation forcing companies in the extractive sector to publish what they pay to host countries,” Sarkozy wrote in the letter to Bono.