This month, the Black Monday campaign against corruption is focusing on the threat of corruption to Uganda’s nascent oil industry. The anti-corruption advocates say Uganda’s track record on the protection of public funds and prosecution of thieving officials is dismal and does not augur well for the country.
The monthly editorial of the Black Monday newsletter reads:
“At a glance it is a no-brainer: A country discovers oil, extracts it since the world demand for oil is never-ending, starts scooping dollars, builds infrastructure, businesses start flowering, and standards of living improve dramatically.
But wait a minute. If you take a closer look, oil-producing countries are not following identical trajectories leading to prosperity – in fact there are many examples of oil leading to poverty.
There is another set of factors that determine if oil will benefit any given country, like legal frameworks, compliance to international agreements, business environment, labour force skills, infrastructure, social stability, appropriate economic mechanisms, transparency and corruption, and others.”
The full newsletter with interviews, analysis and field reports is available to you below.