Recent progress in the Uganda’s long-delayed oil development has brightened Uganda’s longer-term economic prospects following the agreements signed by Uganda and Tanzania on the construction of the US$4bn cross-border oil pipeline between the Lake Albert region in Uganda and the port of Tanga in Tanzania, a research report released by Absa Group on the performance of economies in Sub-Saharan Africa has revealed. “Recent developments in oil and gas industry will transform the economy in the coming years, boosting investment into related sectors and pushing economic growth higher. Total aims to commence oil exports by 2025, with a total of 230,000…
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