Oil Investments Stabilize The Value Of The Dollar
According to Michael Atingi-Ego, deputy governor of the Bank of Uganda, oil investments have helped Uganda stabilize its US Dollar exchange rate.
China to preserve the Uganda oil pipeline
The pipeline, which “is the largest portion – above 50% of the debt,” is being funded by Eximbank in partnership with Sinosure, the Chinese government’s state-owned provider of export credit insurance, according to the ministry’s permanent secretary, Irene Bateebe.
Uganda’s Ambitious Energy Program Seeks To Achieve 80% Connection
The policy’s main goal is to increase national connectivity from 19% to an amazing 80% by 2040, which is expected to spur economic growth and draw substantial investments.
New Energy Strategy Aims To Increase Access To Electricity
As listed by Nabanjja, Uganda has a wealth of energy sources, including hydropower (15 000 MW), biomass (10 000 MW), solar (10 000 MW), geothermal (1 500 MW potential), peat (800 MW), wind (200 MW), uranium, and fossil fuels.
Uganda’s Power Generation To Rise To 50,000 MW
Prime Minister Robinah Nabbanja, who presided over the introduction of the Energy Policy, stated that Uganda, like the rest of Africa, has an abundance of evenly dispersed electricity sources.
These include fossil fuels and uranium, as well as hydropower (15,000 MW), solar (10,000 MW), geothermal (500 MW), heat (800 MW), wind (200 MW), and other sources.
The Development Of The Oil And Gas Sector In Uganda
The Ugandan oil and gas project has now begun in full swing after encountering various difficulties such as tax disputes, local content rules, and environment-related demonstrations. The sector’s association of service providers has altered its emphasis from avoiding involvement in the sector to carrying out awarded contracts.
Javelin Minerals To Supercharge Uganda’s Lithium Prospects Through Strategic Takeover Of Gecko Minerals
This project, albeit not a part of the transaction, recently produced outstanding samples from heavily worn pegmatite tailings and sizable amblygonite stones in trash heaps, with tests of up to 8.13 percent lithium oxide.
Uganda’s Mining Industry Expected To Provide One Million Jobs By 2025
These discoveries have significantly increased foreign direct investment (FDI), and they have also changed the industry. From a meager US$5 million in 2003 to an amazing US$800 million in 2017, FDI in mining increased dramatically.
Kenya Requests Assistance From Uganda To Address Its Power Crisis
After the electricity system failed, the Kenya Airports Authority (KAA) stated that one of its backup generators was inoperable.
Minister Nankabirwa Reassured Kanungu Locals About Power
Minister for Energy and Mineral Development, promised that she will commission the Kanungu District’s electrical distribution system shortly.