Jeff Mbanga

Swim Dad | Oil and Gas I Energy and Mining I Tax and Financial Markets l East Africa.

[Jeff Mbanga @jefmbanga]

The Present and The Future... Kirabo Namutebi, the fastest female swimmer in Uganda today, and Zara, one of the fastest junior swimmers in the country.

[Jeff Mbanga @jefmbanga]

As countries beef up their military defence systems, the graphite from the Orom Cross project in Kitgum district is being tested in American labs to see if it can be used to make drones.

War is fuelling demand for minerals.

Uganda has the minerals.

[Deep Earth International @deepearthinter1]

The @PAU_Uganda is set to announce Fred Kabanda @FredKabanda70 as its next Executive Director, succeeding Ernest Rubondo @ErnestRubondo. This will end a process that started with the advertisement of the position back in December 2025.

Details here: https://t.co/qTooaWZiKA

[Deep Earth International @deepearthinter1]

The @EACOP_'s annual audited report for 2025 says the company remains financially robust and well-capitalized, with capex on the pipeline shooting up to $4.06b in 2025, up from $2.8b the previous year as First Oil nears.

Details here:

https://t.co/htlCTVKjqe

[Julians Amboko @AmbokoJH]

The Sovereign Wealth Fund Bill 2026 has been signed into law this morning.

Kenya now has a Sovereign Wealth Fund which constitutes 3 funds:

· The Stabilisation Fund which is designed to provide the national government with resources for management of shocks

· The Strategic Infrastructure Investment Fund which is designed to provide funding for strategic infrastructure investment priorities that are aligned to the national development plan

· The Future Generations Fund which is designed to to ensure that the benefits of the use of resources are shared equitably between present and future generations

Two things worth pointing out:

· Per the Act, 30.0% of the total mineral & petroleum revenues will be ringfenced for the Future Generations Fund

· The Act prohibits investment of the Funds in speculative derivatives, unlisted or real estate located in Kenya, private equity, art or commodities or securities issued by a Kenyan issuer

[Jeff Mbanga @jefmbanga]

@LorikaMatthew Hi Mathew. Been a while. Are these “offshore oil imports” - if they exist - enough to feed a 700,000 barrels of oil per day refinery that Dangote is suggesting?

[Jeff Mbanga @jefmbanga]

Nigerian Aliko Dangote's proposal to build an oil refinery in East Africa won't work.

To pull it off, he needs to tap some of Uganda's crude oil from the EACOP, or find capital for the proposed South Sudan - Kenya pipeline to feed oil to his refinery.
Both options are tough.

[Jeff Mbanga @jefmbanga]

In a politically-charged year, we have released our Uganda Energy Outlook 2026.

There is a promise that Uganda will finally start producing oil this year. But what does that mean? Find the report here:

https://t.co/rv0YVZkFpv

[Jeff Mbanga @jefmbanga]

My top 5 books to read in 2026

1. The Invisible Gorrilla by Christopher Chabris & Daniel Simons

2. What the Dog Saw by Malcolm Gladwell

3. Redirect by Timothy Wilson

4. Flow by Mihaly Csikszentmihalyi

5. 1929 by Andrew Ross Sorkin

What are you reading?

[Jeff Mbanga @jefmbanga]

PRO Industries Ltd, whose millionaire owner Vasundhara Oswal spent weeks in prison last year over fake charges, is determined to be the first company to produce ethanol-blended petrol in Uganda.
PRO is seeking a license renewal for its 4.3MW co-generation power plant in Luweero.

[Jeff Mbanga @jefmbanga]

Ernest Rubondo’s exit as head of the Petroleum Authority will end the trinity of Uganda’s oil architects.
With Reuben Kashambuzi & Fred Kabagambe-Kaliisa gone, Rubondo was the last of 3 men President Museveni sent to study abroad in 1986, who later designed Uganda’s oil sector.

[Jeff Mbanga @jefmbanga]

This is speculative. Results from a seismic survey of how much oil the Kasuruban holds are not yet conclusive. While the Kasuruban is a very large area, 600M barrels is quite high.
The challenge for UNOC is to find a credible partner to explore the area in a tight credit market.

[Alan Kasujja @kasujja]

Despite having no oil production, Uganda strikes 600 million-barrel crude discovery https://t.co/qEoi4x8RQT

[Mark Keith Muhumuza @mumakeith]

Many many years ago,

https://t.co/oPuJk5MGmH

Before @Muantus and @jefmbanga gave up on the market...

[Jeff Mbanga @jefmbanga]

It’s been a productive week for the African Renaissance Investment Fund – a Pan African investment vehicle. This week, Uganda awarded the fund two gold exploration licenses in West Nile region.
It is the largest continental fund to commit to Uganda’s gold sector in recent time.

[Deep Earth International @deepearthinter1]

In this interview with Deep Earth, Tim Harrison @timhorizonmet CEO @IONIC_RE tells us how close the Makuutu REEs project is to FID; & how the recycling plant in Belfast compliments the Uganda plans. @patience_singo @RRM_Ug @MEMD_Uganda

Details here: https://t.co/e7l2opKZr7

[Jeff Mbanga @jefmbanga]

@David91827994 Yes.

[Jeff Mbanga @jefmbanga]

Uganda yesterday granted a 4-year mineral exploration license to South Africa's Rwenzori Rare Metals Ltd to explore for rare earth metals in Busoga.
It's Rwenzori's third license this year, fortifying its position as the explorer of the largest rare earth deposits outside China.

[Jeff Mbanga @jefmbanga]

@JrTwinamatsiko In someone’s wild imagination.

[Jeff Mbanga @jefmbanga]

Busia is becoming Uganda's hot pot of gold. Investors like Australia's EMetals Ltd, Roa Mines, Asli Energy Ltd are scouting for gold in Busia. They hope for a fortune like Wagagai's gold project.
But local residents are not giving up land easily. Investor frustration is building.

[Jeff Mbanga @jefmbanga]

Uganda has reclaimed the Kanywataba oil block in Ntoroko district from Australia's DGR Global after nearly 8 years.
It was never an easy road. DGR suspended work due to a combination of heavy rains, Covid-19 and lack of capital.
Uganda now awaits another investor for the block.

[Jeff Mbanga @jefmbanga]

Conjugate Energy, the UK company that was formed in February 2023 to explore for oil in the Kanywataba and Turaco oil areas in Western Uganda, will be dissolved next week due to financial troubles.
The two oil blocs could be up for grabs in Uganda's next oil licensing round.

[Uganda Secondary Schools Sports Association @USSSAOnline]

#ISFGymnasiade2025
Zara Marie Mbanga holds a national record after finishing in a time of 1:10:68 in 100m backstroke.