When Uganda started taking definite steps towards the exploration of its commercial reserves of oil, the reason why every citizen warmed up to the news was because of the opportunities that they expected to come with such a breakthrough.
Yes, cases of corruption have been reported and that alone could be a cause for some to veer off to the pessimistic trench. But not for the flourishing businessman who has identified business opportunities that are emerging in the sector and is taking advantage of them. As reported in How we made it in Africa the discovery of oil has helped to kick-start the economy of Uganda.
Asteway Desta, managing director of logistics company DHL Express Uganda is quoted saying “When I came here in December, I could just feel the buzz when I go out on the streets. It has attracted lots of foreign direct investment. We have many more international companies investing now in Uganda than ever before.”
This has resulted in more shipments for DHL and the Ugandan branch is currently growing at an average of 15% per year.
Uganda’s emerging oil industry has attracted many investors to the country, including players like Total and Tullow Oil as well as suppliers to the industry, such as Halliburton and Baker Hughes.
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