Canyon Drilling East Africa Limited – East Africa’s first locally-owned drilling contractor launched

Around US$24 million in private equity has been raised from Ugandan and Kenyan sources.

East Africa is a new destination for hydrocarbon investments, with big gas finds off the coasts of Tanzania and Mozambique and oil discoveries in Uganda and Kenya which promise to help accelerate already brisk rates of economic growth on the rapidly growing continent.

Source: Reuters

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