Uganda just reached a big deal for its oil future. The country's energy ministry, national oil company, and UAE partner Alpha MBM agreed to build an oil refinery. President Museveni watched them sign papers at his official house last Saturday. He thanked Sheikh Mohammed Bin Maktoum for choosing Uganda as an investment spot. The UAE company will help construct a plant that can handle 60,000 barrels daily.
Museveni stressed that this project goes beyond making fuel. He wants Uganda to sell finished products instead of buying them from other countries. "We must stop exporting raw materials," he said, pushing for added value on everything Uganda makes. This agreement kicks off the design and building phase for the refinery, which...