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Browsing: Invest in Uganda
East Africa (Tanzania and Uganda in this case) is endowed with plenty of natural resources that mark it as a potential region for investment and economical prosperity. The East Africa Crude Oil Pipeline (EACOP) is another milestone that will levitate Tanzania to a good position economically.
The crude oil project which was stalled since 2019, has taken a new leap that sounds promising to the two countries which are eyeing maximizing the potential of $15 billion in investment (The East African 2021).
Earlier this week, the project was signed off by Uganda President Yoweri Museveni in the nation’s capital, Kampala and Tanzanian President Samia Suluhu. The process was postponed from the original date of March 22 after the sudden death of President John Magufuli.
The EACOP project landscape
This historic project plans to transfer crude oil via a 1,445 long pipeline extending from western Uganda to the Indian ocean in …