South Sudan's Refinery - Kenya Squanders an Opportunity

[INDENT]South Sudan has the third-largest oil reserves on the continent after Libya and Nigeria, estimated at 3.5 billion barrels, with much of it yet to explored. Their oil marketing giant Trinity Energy Ltd is set to build a $500 million crude oil refinery in South Sudan to serve the region with refined petroleum products.[/INDENT]
[INDENT]Uganda, Kenya, Tanzania, Rwanda and Burundi had been allocated a combined 40 per cent shareholding in the refinery, translating into an eight per cent stake for each, with 60 per cent of the shares reserved for private investors. However, only Tanzania took up its full share of 8 per cent while [COLOR=rgb(209, 72, 65)]Kenya took up 2.5 per cent.[/INDENT]
[INDENT]Rwanda and Burundi had not expressed interest in the facility by the expiry of the extended period set aside to do so in 2016. As a result, Uganda was compelled to take up an additional 11.5 per cent shareholding in the Hoima-based refinery, bringing its total shareholding to 19.5 per cent, with French oil giant Total SA taking up a 10 per cent stake.[/INDENT]
[SIZE=5]I reckon they did not find a way to “eat”. But I wouldn’t be surprised to discover that our mis-leaders joined in on their private capacities as “private investors”!![/SIZE]



I think the government needs to focus on solving internal issues first. That shareholding will never benefit anyone locally.

Hao bonobo wa South Sudan ni watu unpredictable sana. Hao wanaweza hata kuja show Museveni akajitombe na hio 19 per cent yake.

kama China wameogopa kufinance hio kitu 100% i would advice the govt to avoid the whole thing