Govts’ ‘quick-tax mindset’ leaves oil investors cautious

African governments’ appetite for quick tax revenues from oil production is putting off potential investors. PHOTO | FILE | NATION MEDIA GROUP

African governments’ appetite for quick tax revenues from oil production is putting off potential investors, denying the continent billions of dollars’ worth of projects.

Further, foreign investors are concerned about the uncertainty surrounding the taxation measures that African governments impose on the oil and gas sector.