Post: Speech by Mr Elly Karuhanga, President of Tullow Oil.

Speech by Mr Elly Karuhanga, President of Tullow Oil.

He was the keynote speaker at the Youth forum and also presented a paper on the role of Tullow Oil in Uganda. He said that Uganda is at the dawn of a new era and that this generation is witnessing history in the making. He enumerated many successful people who had started to make their mark at a young age, such as Nelson Mandela, Museveni, Bill Gates from Microsoft, Steve Jobs from Apple, and that therefore the young people in the audience would also find an opportunity in Uganda to make a difference.

He said that the economy of Uganda was completely transformed from the one the Diaspora left behind. Tullow Oil alone, he said, is looking at putting up about $4 billion dollars in the economy. If another 5 companies, such as Total, Neptune and others would invest a similar amount (another $10 billion) into the oil and gas sector in Uganda, it would make it the highest investment in East, West, Central and Southern Africa in a long time. Who, he asked, was going to protect and attend to this money? “Ugandans”, he answered, “it will be a transformational statement in the whole region”. Once again he asked the audience, “Where are you”? It is an opportunity of a lifetime for Uganda to set a new standard in Africa. Everyone has seen all the mistakes made by other oil producing African countries, but Mr Karuhanga said that Uganda would not make those same mistakes.  His challenge to the audience was, “How do you go home? Not by taking a leap of blind leap of faith”, he said, “but by making a plan”. Despite the comfortable lifestyle some may have in the UK, he suggested that life could be even better by going back home and grasping the opportunities that the oil and gas sector have to offer now.

John Doe
John Doe

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