Recently a government minister Hon. David Bahati claimed that money in early receipts to Uganda’s oil fund was finished as had long been suspected by civil society activists. This perhaps “lays to rest” one aspect of oil governance which in Uganda like elsewhere is based on “best practices” around the world.
I have since been informed that not all money in the fund is gone. Approximately US$ 6 million remains in a dollar account and some UGX51 billion in the shilling account. Two important pieces of reading can help understanding where Uganda stands with regarding to managing new oil money which, according to the new minister of energy Hon Mary Goretti Kitutu, could be eminent if oil companies make a final investment decision before April 2020.
The first is our working paper ( Sam Hickey, Izama) on how capable technocrats are coping within oil oversight institutions. The second longer and broader work is published by Leuven University Press and includes contributions by various Ugandan ( and other authors titled “Oil Wealth and Development in Uganda and beyond”.
Happy Reading
