Uganda will close the long-awaited Final Investment Decision (FID) with international oil companies Total E&P and CNOOC on Sunday.The decision will unlock billions of dollars of investment in Uganda’s oil and gas sector.
Total chief executive Patrick Pouyanné, is expected in the country over the weekend, according to officials from Uganda’s energy ministry.
The deal will also pave way for the construction of the 1440km crude export pipeline from Western Uganda to the Tanzanian Indian Ocean Port of Tanga, a key piece of infrastructure needed to get the east African country’s oil out of the ground and on to international markets.
Tanzania’s President Samia Suluhu Hassan is also traveling to Kampala to take part in the three-way talks that should culminate in the signin...
African countries began officially trading under a new continent-wide free trade area on Friday, after months of delays caused by the global coronavirus pandemic.
But experts view the New Year's Day launch as largely symbolic with full implementation of the deal expected to take years.
The African Continental Free Trade Area (AfCFTA) aims to bring together 1.3 billion people in a $3.4 trillion economic bloc that will be the largest free trade area since the establishment of the World Trade Organization.
Backers say it will boost trade among African neighbours while allowing the continent to develop its own value chains. The World Bank estimates it could lift tens of millions out of poverty by 2035.
But obstacles - ranging from ubiquitous red tape and po...
Hundreds of Tanzanian
firefighters and citizens are trying to contain a fire on Mount Kilimanjaro,
Africa's highest mountain at 5,895 meters.
The National Park spokesman
Pascal Shelutete said the initial investigation found the fire started Sunday
by porters servicing climbers at the Whona rest area.
Shelutete told reporters
Tuesday the fire, used to warm up food, ignited dry grass and shrubs.
The fire is confined to the
Mandara and Horombo trails, Shelutete said, which are no higher than 2,700
meters above sea level.
So far, there are no reports
of casualties from the fire on the popular site, which attracts tens of
thousands of climbers each year, many determined to reach the peak.
Reuters reports more than two
hundred university stude...
Republic of Congo
The Democratic Republic
of Congo has a mixture of economic sectors such as mining, fishing, forestry,
agriculture, and copper and cobalt. While the country’s total GDP of $48.46 billion may seem high
in comparison to other African countries, but that is mostly due to its large
With 89.56 million people living
in the country, it brings the GDP per capita figure to an astounding low
of $495.08. This places the country in the top ten poorest
countries in Africa by that metric. Nonetheless, this country is a perfect
example of a mixed economy that is trying to build towards the future.
According to the African Development Bank Group,
growth dropped from 5.8% in 2018 to 4.3% in 2019, due to a slowdown in
By VICTOR AMADALA
two countries had in 2015 agreed to jointly build the oil pipelineInvestors
in the Turkana oil project are pegging their investment decision on the
completion of the pipelineKenya will now have to bear the full
cost of the delayed Lokichar-Lamu crude oil pipeline after Uganda, which
ditched the project in 2016 opted for the Tanzania route.
The move by Uganda further jeopardise
Kenya's hope both for the oil pipeline, blurring the country’s dream for oil
weekend, Uganda President Yoweri Museveni and his Tanzanian counterpart John
Magufuli officially signed a $3.5 billion (Sh378 billion) deal that will see
the Kampala route export its oil through Tanzania’s 1,445-kilometre crude oil
Uganda said i...
What you need to know:
said it dropped Kenya after it realised it would be cheaper using Tanzania’s
Tanga port.The fact
that the Tanga port was already operational gave it an edge over Lamu, which is
still under construction.
four years after Uganda abandoned Kenya in building an oil pipeline that would
have transported its oil to Lamu, it has now officially signed a Sh410 billion
($3.5 billion) deal with Tanzania, leaving Nairobi to walk alone.
signed on Sunday between President John Magufuli and his Ugandan counterpart
Yoweri Museveni will see Kampala route its oil exports through Tanzania,
through the 1,445-kilometre crude oil pipeline.
Magufuli said after inking the deal in his home town of Chato that the project
“is very crucial for ou...
Tanzania and Uganda have signed an
agreement allowing for the construction of a 1,445 km (898 miles) crude oil
The $3.5bn (£2.7m) project will
connect Uganda's oil fields to Tanzania's port of Tanga.
The signing ceremony was attended by
the presidents of both countries.
Oil reserves were found in Uganda in
2006 but production has been delayed partly by a lack of infrastructure
including an export pipeline.
A start date for construction has not
yet been announced for what is set to become East Africa's first major oil
But there are warnings the project
could come at a huge cost to some Ugandan communities.
More than 12,000 families
risk losing their land and livelihoods, according
to a joint report by the International Federation for Human ...
Total SA said it has agreed with Uganda on
issues regarding the host government that will pave the way for a final
investment decision for a crude export pipeline.
breakthrough regarding the 1,445-kilometer pipeline was agreed at a meeting
between Ugandan President Yoweri Museveni and Patrick Pouyanné, the Total
chairman and chief executive officer, and will pave way for the investment
decision in the “coming months,” the company said Friday by email from the
Ugandan capital, Kampala.
now seeking to conclude a similar host government agreement with Tanzania,
whose territory the pipe will traverse, to complete the tendering process for
all engineering, procurement and construction contracts, according to the
major is leading plans to build the co...
They say life begins at 40 and Zari Hassan has taken the necessary steps to ensure she continues to eat life with a big spoon once she hits the fourth floor.
The Brooklyn City College CEO will be turning 40 on September
23, and to celebrate the special milestone, the mother of five has bought
herself an apartment.
Africa based Ugandan businesswoman made sure to let the masses know as she took
to Snapchat and Instastories to flaunt. Sharing a blurry video of an unfinished
building, Zari said the apartment will be complete and ready for occupancy on
December 1st, 2020.
“Just bought myself an apartment for my 40th in that unfinished
block. 4 minutes from my home. Keys to be received on 1st December,” wrote
By Our Reporter
Es Salaam: The Peoples Republic of Tanzania is mourning former President H.E Benjamin
Mkapa, who died in the early hours of Friday morning, President John Magufuli
said in a statement.
the East African nation's third president who served from 1995 to 2005, led
several regional peace mediation efforts in office.
died while receiving treatment at a hospital in Dar es Salaam, Magufuli said,
without giving more details.
declared a seven day mourning period, during which all flags will be flown at
asks all Tanzanians to remain calm, patient and united during this difficult
time," a statement from his office said.
81, also served as an ambassador, minister and key official of the ruling Chama
Chamapenduzi (CCM) party...