Mr Karuhanga said the non-executive directors who were recognised for their immense contributions to the companies are the type needed to nurture successful companies in the country
About 73 percent of the companies, equivalent to 460 out of 624 involved in supplying the sector have been Ugandan according to Petroleum Authority of Uganda.
Whereas 18 local insurers have formed an insurance consortium for oil and gas, the risks involved in the sector are of a higher magnitude some of which might need to be taken on by global operators