I think local OMC will benefit more than "banks", reason being, crude oil won't be sold/traded by all and sundry,to have the proceeds flowing to the banks. Most of the money that will get to the banks will have passed thru' other sectors of the economy. The local OMCs and construction/infrastructure shall benefit more and before the banks. Opening up of Turkana will need serious infrastructure and a bit of buildings.

Don't you think a sector like agriculture will have limited benefit and much later than other sectors?

Murenju I just hope we do not have similar outcries in future:

“The Chinese firms are importing all the materials they need, even those that they can source from the local market, denying linkage to the local economy hence loss of revenue to the government,” said Mr Rakesh Rao, Chief Executive Officer (CEO) of Crown Berger, the leading local paint manufacturer.

Mr Rao’s contention is that the Chinese firms are importing road-marking paints and his company- quoted at the Nairobi Stock Exchange (NSE) —is able to supply the same.

“The government should have ensured such materials are obtained from local industry, boosting our revenue and subsequently the national revenue,” said Mr Rao.

AFRO-CHINA LABOUR TIES TURN ICY

@Mkeiyd

Wouldn't the needed infrastracture/housing require financing by local banks even before the pipeline opens?

I dont think there are plans to kill the other industries. The oil was discovered in an arid area, no activity was taking place there so it should be an addition to the economy. I stumbled upon a report by forbes and the most sort after commodity in the world in 2011 was not oil but cotton...and live cattle was among them guess what, somalia was the highest exporter of live cattle...these are industries that the ministries of Agri and Livestock have neglected...if they can focus then our $$ earnings should not be a problem

And we all thought it was piracy money;-)

Mscheew! Elitist thinking... #JusKidding

My crystal ball tells me we are at a crossroads all the infrastructure developments will get a major boost, power bills will come down, fuel prices will tumble, interest rates chini..... property prices will fall oh food prices (now with the rains every where).... the list is endless. Everyone will be a winner.