Uganda, Office of the President

Uganda ups its stakes in energy projects as Eacop nears financial close

In depth
Issue 494 - 05 Nov 2023 - By Marc Howard | 7 minute read

With oil field developments proceeding at pace, the Kampala government has signalled its intention to play a more robust role in economic management, with plans to renationalise the electricity distribution network and take an expensive majority stake in the Kabalega refinery development.

Meanwhile financing for the Eacop pipeline is expected to close soon, with Chinese lenders stepping in where western financiers have refused to go, writes Marc Howard, recently in Kampala and Hoima.

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