The Uganda oil sector is likely to spend quite more money than the anticipated $4 billion for the construction of the Hoima-based oil refinery following the failure of the East African Community to buy the whole part of the share it was allocated. Although Total SA has taken up a total share of 10 per cent
So Kenya bought a 2.5% stake in Uganda’s Oil refinery but why really?
Kenya bought 2.5% stake in Uganda’s Oil Refinery and that is supposed to be good news. Indeed it is good news. Actually, Kenya’s decision to get a stake in Uganda’s Oil Refinery, a couple of weeks after RT Global Resources was selected to construct the refinery goes against the notion that Kenya would oppose Uganda’s
Oil attracts increased Investments to Uganda
The recent oil discovery in Uganda has led to an increase in Foreign Direct Investment (FDI) inflows to the country. According to the data that the United Nations Conference on Trade and Development released recently, Uganda FDI increased by 92.51% to $ 1.721 billion in 2012 down from $ 894 Million in 2011. The data