Seven years since Uganda’s oil discovery and production has still not commenced. A two year deadlock, orchestrated by the Ugandan government’s resolve to have a refinery before production gets underway, as opposed to oil producing companies’ demand for a pipeline, partly explains the hold up. Continue reading
East Africa is no doubt one of the fastest growing regions on the continent, with a GDP growth rate for the bloc averaging 6.3 per cent, compared to 4.9 per cent for the continent as of 2010. Even with the tough economic times, the economies still grew at 3.2 per cent, 4.4 per cent, 6.4 per cent and 8.6 per cent respectively for Uganda, Kenya, Tanzania and Rwanda, according to IMF.