Foreign Investment Has A Vital Role to Play in Africa’s Economic Growth: We Must Do What We Can to Encourage It

By NJ Ayuk Despite the COVID-19 pandemic, not all of the economic news in Africa has been negative. We continue to see promising developments.Look at Uganda’s oil and gas industry. Following multiple petroleum discoveries in Uganda’s Albertine Graben, foreign investments there have reached nearly $20 billion. The resulting projects include a refinery being built by the Uganda National Oil Company in joint partnership with four Italian and Mauritian companies. Through another joint venture, in this case with the Tanzania Petroleum Development Corp. and Total, Uganda’s National Oil Company is building a 1,445-kilometer pipeline to the Tanzanian seaport that represents numerous…