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  • Picture: upmarket housing under construction in Masindi

    Masindi prices soar as town gears up for oil boom

    Upmarket housing under construction in Kigunya zone of Masindi town

    Before a drop of Uganda’s oil has been produced for sale, the small and once sleepy town of Masindi, 40 kilometres from the prospective oilfields of Butiaba, is bustling with investment and anticipation.  Hopes are high—but so are prices, as demand soars for land and services.  Property developers and service industries are reporting quick profits, but Oil in Uganda staff writers found losers as well as winners in this boom town in the making.

     

    MASINDI, March 12, 2102:  Fifty-year-old farmer, Yoram Kwebiihe, who has toiled all his life on his 15-acre farm, growing mainly maize and beans for home consumption and selling a small surplus, cannot believe his luck. Read More