Huge blow to Yoweri Kaguta Museveni as this information emerges

President Yoweri Kaguta Museveni together with her counterpart Tanzanian Samia Suluhu Hassan have suffered yet another blow weeks after signing the oil pipeline deal in Uganda, East African reports.

Yoweri Kaguta Museveni and Samia Suluhu Hassan

This is after several major lenders that were intending to finance this project withdrawing from the deal citing that the project did not put into consideration environmental risks.

Among the banks that have withdrawn are three French banks- BNP Paribas, Société Générale and Crédit Agricole- which have said that they will not be funding the project.

The oil pipeline project was to be the world’s largest pipeline if completed and is expected to create around 10000 employment opportunities. It involved Uganda, Tanzania and Uganda-based Total and it will be running from Hoima west of Uganda to Tanga in Tanzania.

This setback comes just a week after the project facing another setback where Civil Society Organizations CSOs both in Uganda and DR Congo rejecting the project citing that proper protocols were not followed and involved communities were not consulted before signing the deal.

Yoweri Kaguta Museveni

Among the protocols, the CSOs say that were flouted are environmental risks, no transparency that was involved and that DR Congo is not involved in the deal despite the country sharing the resource location.

Read also : Worst is here, How Yoweri Kaguta Museveni Controversially Promotes Muhoozi Kainerugaba

Frank Fremer is a seasoned journalist, blogger and political analyst for over a decade in Uganda

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