Oil and Mining Sector Consider as the Backbone of East Africa for Economic Growth

Oil and Mining Sector

Oil and mining has always been created a big fuss in different and several countries. There has also been instances wherein countries becomes good friends and enemies due to this. But in East Africa Oil and mining will serve as the backbone of their economic Growth.

Gabriel Negatu, regional director for Eastern Africa at the African Development Bank said that: “The development of oil, gas and mineral discoveries in East Africa will drive economic growth and transformation in the region of more than 300m people over the next two decades.”

He also mentioned that: “The extractives in general, including oil and energy, will provide the backbone that will help the transformation in this region in the next 20 to 30 years.

There has been all sorts of resources gushing out of the ground every [few] months. Every country in this region now has one or several types of resources.”

Energy has always been a major player in boosting the economic growth of countries who have this kind of natural resources. These resources will bring out several opportunities to the people. It can create a lot of jobs from blue collar to white collar sort of jobs.

These jobs can feed their families and can provide their basic necessities. It can even send their children to school which is a good thing and they can be able to mold new citizens that can help alleviate the hardship that they are experiencing now so that the children of tomorrow will no longer experience this kind of things.

It was also said that due to the improvement of oil and mining sectors infrastructure developments can be expected too.

“Where you have extractives, whether it is leading up to the mines and the rigs or leading away from them, there tends to be a major explosion of infrastructure development,” said Negatu.

Developments in infrastructures like railways, can make a difference in importing and exporting products to different places. This means that they can save money, power and energy now compared before. This will also means that if products and services can be travelled in a fast way possible they can generate money. This money will help in boosting the economic growth of East Africa.

As everyone knows, every changes and uplifting resources such this is no easy thing. There will be a lot of sacrifices and efforts to be drawn not only from the government but from the people of Africa as well.

This will also be the right time to work hand in hand in order to maximize the resources that they have. Few countries where gifted to have these kind of natural resources, if not taking care of then what good could it bring to the people? This is the right time to make a stand and start doing what is right for your own growth and the growth of your economy.

Humphrey Kariuki Ndegwa experience and versatility in business has earned him a reputable name in the energy sector business scene.