The East African Crude Oil Pipeline (EACOP) has wrapped up its first round of outside financing, supported by Afreximbank, Stanbic Uganda, KCB, and other regional lenders after Standard Chartered opted out. The funding keeps the $5 billion, 1,443-kilometre pipeline half-built and protects more than 8,000 jobs.
Next, Chinese banks are expected to take the lead on additional funding, while President Museveni is pushing for a separate $4 billion refinery, raising new questions about the total debt required.
Businesses along the Hoima–Tanga route can expect steady orders, but shifting lenders could slow local-supplier payments and push up insurance costs.
