The French Ambassador to Uganda, Stephanie Rivoal has said Uganda may not achieve very much from the Oil and gas sector if the government does not embrace transparency in the emerging sector.
Industry Resources

French Ambassador cautions Uganda on oil money 

The French Ambassador to Uganda, Stephanie Rivoal has said Uganda may not achieve very much from the Oil and gas sector if the government does not embrace transparency in the emerging sector.

Speaking at the event to announce the merging of Mazars and BRJ, both Certified Public Accountant firms at the Sheraton Kampala Hotel, the Ambassador noted that most African countries such as Angola and others are endowed with precious minerals such as oil and gas but because of lack of transparency and poor governance such countries are still underdeveloped.

“I would like to highlight the importance of transparency in the development of Africa and of course Uganda.

“For Ugandan to benefit from the Oil and gas sector, the government should ensure that it respects the principles of Accountability,” she said.

She advocated for a strong mechanism in place to ensure that Ugandans benefit from the Oil revenue which is not the case with other African countries.

“It is said that Angola, despite being the second largest oil producing country in the world, has one of the worst Human Development Index. Where does the money go? Does the population see the colour of money?” she asked.

Robert Busuulwa, Managing Partner of Mazars BRJ said: “We share with Mazars a culture that is demanding, independent and entrepreneurial.

“We strongly believe in Mazars’ unique business model. We offer tailor-made services and we have a true spirit of partnership.

“Mazars’ personalized approach and international dimension allow us to combine the best practices gathered from its various offices worldwide, to reach optimal solutions to meet our clients’ needs.”

BY SAMUEL NABWIISO