Why the discovery of oil and gas will not change East Africa’s fortunes

East Africa’s 10.754 billion barrels of crude oil is 0.63 per cent of the world total and 7.5 per cent of Africa’s 128 billion barrels of crude oil.

Though Tanzania’s proven gas reserves and Kenyan, Ugandan and South Sudanese proven oil reserves are plentiful, it is unlikely that their economies will be stratospherically catapulted by their oil and gas bounties.

Read more: The EastAfrican

 

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