31.08.2016 - Is East Africa Ready for a Sovereign Wealth Fund?
Kenya, Uganda and Tanzania are among the new frontier economies in the oil and gas industry that have over the last decade announced significant hydrocarbon discoveries. These East Africa Countries (EAC) countries have introduced laws to manage oil and gas resources for the benefit of all stakeholders. Kenya, for instance, introduced a petroleum act earlier this year; the Act stipulates that 75% of the proceeds from commercial oil and gas produced be retained by the national government, with county governments hosting the deposits receiving 20% and local community receiving 5%.............................................Full Article: Source
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