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East Africa’s First Locally Owned Oil Drilling Company Established

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AFRICANGLOBE - East Africa's first land based locally-owned drilling contractor is just starting up, signaling the intention of local investors to get a share of the region's nascent hydrocarbon boom. The company, Canyon Drilling East Africa Limited (CDEA), has been mostly funded with east African private equity sources and investors include Charles Mbire, chairman of MTN Uganda, a unit of South African mobile phone company MTN Group.
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