AFRICAN COUNTRIES NOT BENEFITING FROM LOW OIL PRICE DUE TO CURRENCY DEPRECIATION
AFRICAN COUNTRIES NOT BENEFITING FROM LOW OIL PRICE DUE TO CURRENCY DEPRECIATION Indeni Petroleum Refinery Board Chairman, Mr. Johnstone Chikwanda, who is also Energy Forum Zambia Chairperson, has pointed out that with the depressed oil price on the global market, one would have thought that this would advantage African countries by enabling them to pass on the benefits of low price to consumers. “The scenario is totally the opposite. Africa has not benefited at all to a point that some countries have actually been increasing pump prices during this period.” Mr. Chikwanda said it was a painful missed opportunity for...
