A consultant on why Ghana is a solid investment climate

• On stability: “Ghana has positioned itself as a beacon in Africa in terms of democracy. We have a stable government and the rule of law; we encourage free press and an active civil society, which helps to provide a check on power and how things are done.”

• On outlook: “Ghana’s energy sector is doing great. The power situation in the country has been normalised. A lot of policies are being implemented and it’s exciting to witness the great things happening.”

• On local content: “Ghana has done exceptionally well in terms of local content. There is the need for every developing country to build its capacity, especially its citizenry, in order for natives to acquire keys skills and knowledge.”

• On the bid round: “This is surely an opportunity for Ghanaian companies to position themselves, enter into the petroleum upstream sector and get the right international exposure they need.”

Most TOGY interviews are published exclusively on our business intelligence platform, TOGYiN, but you can find an abridged version of our interview with King Wellington below.

Can you leverage on Ghana’s political and economic stability compared to other countries in the region?
In view of the political stability, Ghana has positioned itself as a beacon in Africa in terms of democracy. We have a stable government and the rule of law; we encourage free press and an active civil society, which helps to provide a check on power and how things are done.
Comparing us to our neighbours, we are predominantly similar people, similar culture and terrain, but in terms of political and economic stability, Ghana tops the list as the best country to do business. Apart from the political stability, it is easy to do business here in Ghana. We have a clear and efficient administrative and bureaucratic environment and this makes it easier for people to access services. This really cements our position in terms of attracting investment.

What is your assessment of the Ghanaian energy sector at the moment with increased international attention being given towards the country?
Ghana’s energy sector is doing great. The power situation in the country has been normalised. A lot of policies are being implemented and it’s exciting to witness the great things happening. I must commend the sector minister together with his able deputy ministers and team of experts for successes chalked in the energy sector. It is therefore not surprising that there is increased international attention being given to the energy sector.

Do you think the upcoming bidding round is a good opportunity for Ghanaian companies to get the international exposure they need?
From a broad perspective, the bidding round will ensure transparency in the awarding of block as well as ensure that the best companies with the needed capacity – technical, financial, etc – undertakes the work. This will benefit Ghana. This is surely an opportunity for Ghanaian companies to position themselves, enter into the petroleum upstream sector and get the right international exposure they need.

How do you assess Ghana’s attitude towards local content?
Ghana has done exceptionally well in terms of local content. There is the need for every developing country to build its capacity, especially its citizenry, in order for natives to acquire keys skills and knowledge. Let’s take the oil and gas industry as an example: Currently about 80% of the workforce are Ghanaians. Most of the top managers in this sector are Ghanaians. This is a clear indication of how serious Ghana takes local content. There is still room for improvement, and I know the government is really keen on ensuring that Ghanaians play an active role in key areas of the economy hence creating more jobs for the people.

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