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China can step in of cause. But my feeling is that it is better not rush those developments... Oil won't employ much people and only will have positive impacts on the economy if the government will invest the revenue in infrastructure...
 

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It certainly won't be the next Dubai if these countries don't have investors and a crap hole for a government

If they can't develop their country with mineral, agriculture or forestry what really makes them believe oil will answer their prayers?

This oil thing is really overrated in this forum:lol:

The oil industry does not directly benefit job creation. Its a century old process that has been automated to a significant level. However, if a refinery is created, it can do wonders.

To begin with every east african country uses their foreign exchange to buy oil. Almost 25% of our imports are oil and it will help stabilize the currency in east africa significantly with Uganda in particular.

Using the revenue from the oil refinery is honestly the small picture. It will reduce the cost of oil, cost of doing business, cost of transport, cost of food.

Along with petroleum products, it will form a vibrant plastic and fertilizer industry. Plastic products is another major thing East Africa imports from China and India and the private sector will be able to source various raw materials locally saving the country further foreign exchange.

Fertilizers, aviation fuel etc... We may have no faith in our government to reappropriate the money from the oil well, however, the private sector, especially in Uganda has always been ahead at exploiting the littlest of opportunity.
 

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$20B to be invested in Uganda in the next 3 years




Uganda expects up to $20 billion in investments as a result of the development phase in the oil and gas industry in the next three years as it*races to complete its crude oil pipeline by 2020 according to the CEO of the Association of Uganda Oil and Gas Service Providers Emmanuel Mugarura.

Read more:- http://www.oilnewskenya.com/20b-to-be-invested-in-uganda-in-the-next-3-years/
 
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