Daily News: Energy sector brightens Africa's outlook

Chief Executive Officers of companies in the oil sector in Africa are optimistic about the future outlook of the global economy that has been boosted by radical transformation in the energy sector but caution that infrastructure problems and unpredictable tax regime threaten the growth prospects.

According to a study by PWC Africa, the CEOs of industrial players in the energy sector are confident of revenue growth over three years and majority see new joint ventures & strategic alliances as the best opportunity to grow their business in the next 12 months.

"Africa's Energy CEOs see a lot of potential on the continent. They are also optimistic about the outlook of the global economy and see lack of infrastructure and increasing tax burden as threats to their growth," said Mr Uyi Akpata, PWC Africa Oil and Gas Leader in a presentation at PWC Africa Oil and Gas Leadership Conference 2014 in Dar es Salaam.
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