The governments of Tanzania and Uganda commenced last month plans to empower micro, small and medium enterprises seeking opportunities in the East African Crude Oil Pipeline Project.
The project, worthy $500,000, and funded by African Development Bank (AfDB) will support Ugandan and Tanzanian small businesses interested to access new market opportunities, and building linkages with larger, national, regional and international companies through capacity building.
“The project seeks to support inclusive private sector growth and creation of an estimated five hundred jobs along the pipeline route,” says Emmanuel F. Mugunga, the Ministry of Energy undersecretary.
About two years ago oil investors placed huge technical and financial demands – requiring governments to produce required talent on one hand and goods and services that meet international standards and the needs of oil companies on the other hand.
Tanzania and Uganda approached the bank to help foot the bills. The two countries acted jointly basing on the Intergovernmental Agreement they signed in 2017. The agreement enables the two countries to corporate in the development of the pipeline project.