Tag Archives: Resource Curse
Resource Curse: Latest News
D.A. Barber, 6:36 am AFKI Original
While the current natural resource and infrastructure boom in Eastern Africa will contribute to different degrees of economic growth for individual governments, its impact on leveling out economic opportunities will depend on mature natural resource revenue governance that ensures accountability and transparency. The oil and gas boom in one of the world’s poorest regions of the world promises to free East African governments from their dependence on foreign aid once the natural resource revenues start to flow. But natural resources have been literally a “resource curse” for many countries in the past, resulting is little if any economic growth and development.
Frank Mutulu, 11:20 am
In May, the International Monetary Fund projected that Kenya will start commercial oil production in six to seven years. More recently, the Oil & Gas Journal reported that 2013’s fourth quarter will bring on the emergence of two additional shallow-depth rigs that could potentially create an oil sector for Ethiopia and Kenya.
Prospects and leads, according to the report are on the rise. However, some industry players and economists are skeptical about the commercial viability of the discoveries.
- Real Estate