President Yoweri Museveni has launched the fourth cement producer in Uganda with an immediate production capacity of 750 tonnes, but with a promise to double that to 1.5 million tonnes per annum in 2019.
On 14 September 2017, Irene Muloni and Roger Cressey, representing the government of Uganda and Armour Energy, respectively, inked a deal under which the government handed over the Kanywatabala oil Block to the Australian oil prospector, for oil exploration.
Steel is as critical to an economy as oil. Steel is at the centre of manufacturing, industry and industrialization. The country’s ability to supply high quality steel is a boost to the economy especially in a country that is gearing for high infrastructure development, industrialization, manufacturing and processing. There is no conceivable industry- small or big- that does not require some form of steel.
The African Development Bank (AfDB) has approved a US$ 29.8 Million loan to support Tanzania to mobilize domestic resources and unlock the potential of its natural gas resources through leveraging domestic markets and local content initiatives.
Four Countries that share Lake Tanganyika on the north west of Tanzania; including the Democratic Republic of Congo, Burundi and Zambia are due to sign a Memorandum of Understanding for joint exploration of oil and gas on the lake.
In October 2016, Tanzania and the DRC signed a MoU on joint exploration.