Oil is the new gold. And money corrupts. What will this mean for Uganda, the landlocked East-African country were major oil reserves were recently discovered?
Sources in the oil industry describe Uganda as ‘Africa’s hottest inland exploration frontier’. It is believed that Uganda’s oil is the biggest find in Africa of the last 20 years, with estimated reserves of at least 2.5 billion barrels of ‘black gold’.
Although Uganda’s oil is still underground, heated debate in the country and cracks in the political ruling party lead some to think the oil curse has already arrived. I wrote an article for the Africa Desk about the oil controversy and the implications of the black gold for Uganda.