Ugandans are likely to dig deeper into their pockets to finance the construction of the country’s $4 billion oil refinery after its East African Community partners failed to take up their full allocation of shares in the facility.

Uganda will take up an additional 11.5 per cent shareholding in the Hoima-based refinery, bringing its total shareholding to 19.5 per cent. French oil giant Total SA has taken up a 10 per cent stake.

For more information, please see http://www.theeastafrican.co.ke/business/Uganda-likely-to-pay-more-for-refinery/2560-4783284-qvokodz/index.html