Ecobank sees closer East Africa ties key for growth

NAIROBI, KENYA: A single oil pipeline through Uganda and Kenya will be key in unlocking the full potential of Turkana oil finds, Ecobank researchers say.

In the newly published East Africa section of its flagship financial website, AfricaFICC rival pipelines will constrain Kenya’s oil production.

Kenya, with its diversified commodity exports, which include tea, horticultural goods and coffee, has started producing crude oil. But in the absence of a pipeline it must all be transported to the coast by truck. 
The Pan African lender research team lauded the region as a well-integrated Anglophone trade hub, but the Africa Continental Free Trade Area (AfCFTA) could pave the way for the entire African continent to capitalise on its enormous growth potential.

The region is a world leader in disruptive Fintech, illustrated by the resounding success of mobile money and Kenya, together with Rwanda, Tanzania and Uganda, represent a regional powerhouse for global commercial services.