Daily News: Uncertainty Subverts Africa's Energy Sector

Bullish about Africa's economic outlook bolstered by recent discoveries of oil and gas deposits in several countries, Africa's Energy CEOs warn of myriad challenges that threaten growth prospects.

A PWC review of development in Africa's oil and gas industry mentions infrastructure problems and unpredictable tax regime, availability of skilled manpower as well as government & regulatory issues as key constraints to the growth of oil and gas industry in the continent.

"Africa's Energy CEOs see a lot of potentials on the continent. They are also optimistic about the outlook of the global economy and see lack of infrastructure and increasing tax burden as threats to their growth," said Uyi Akpata, PwC Africa Oil and Gas Leader from Nigeria in a presentation at a two-day PwC Africa Oil and Gas Leadership Conference in Dar es Salaam last week.
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