Africa's Appetite for Taxing Oil Sector Scares Investors

Foreign investors are reportedly concerned about the uncertainty surrounding the taxation measures that African governments impose on the oil and gas sector. Such hostile environments are likely to dampen the interest of foreign investors, particularly Chinese oil firms looking to invest U.S.$15 billion in the sector in the next four years, according to to a report - Africa's Energy Outlook (2020) - prepared by energy sector lobby group Africa Energy Chamber.

A police vehicle escorts trucks loaded with crude oil from oil fields in Turkana County in Kenya (file photo).

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