How locals can benefit from oil windfall

Last week, more than 300 top oil and gas industry leaders from the region gathered in Nairobi for the second edition of the Oil and Energy Services Local Content Convention. The meeting was designed to share experiences and deliberate on development of local content for the oil and gas industry.

To put things in perspective, local content is the added value that a community or country gets from its extractive industry. These mainly come in the form of employment for locals, partnership (which allows locals to supply goods and services) and sometimes the opportunity to own a stake in the multinationals.