The key role that Ghana’s new offshore Tweneboa, Enyenra and Ntomme (TEN) field will play in helping the country build on an anticipated oil and gas rebound will be given wide-ranging analysis in a forthcoming report by the global publishing firm Oxford Business Group (OBG).
OBG is a global publishing, research and consultancy firm, which publishes economic intelligence on the markets of the Middle East, Africa, Asia and Latin America and the Caribbean.
The Report: Ghana 2017 will chart the progress of the $5bn project, which is targeting 80,000 barrels per day (bpd) once operational, rising to 100,000 bpd in 2017.
A statement issued in Accra yesterday said the publication would also explore signs that Ghana plans to broaden its economic base by sharpening its focus on adding value to commodity exports, especially gold.
“Other topics earmarked for coverage include the implications of higher-than-expected crop volumes and talk of the possible creation of a national commodity exchange, which would establish an agricultural value chain,” the statement said.
It said the Ghana Investment Promotion Centre (GIPC), a partner of OBG since 2010, would once again contribute to the Group’s report on the country’s economy.
“As part of their ongoing collaboration, GIPC will support OBG in the information-gathering and research process for The Report: Ghana 2017,” it said.
Mrs. Mawuena Trebarh, GIPC’s CEO, is quoted by the statement as saying that she was optimistic about Ghana’s long-term outlook, indicating that although an election year, there would likely be a steady increase in FDI in the year 2016 over 2015.
“It is natural to see a decline in foreign direct investments in an election year but we expect the size of individual investments to increase,” she said.
“Investors remain interested in Ghana despite challenges of the past year.” She added that “in addition to political stability and streamlined investment procedures, Ghana possesses a robust legal and regulatory framework. There exist many opportunities for investment in the manufacturing, agriculture and tourism sectors which the centre is actively promoting”.
“I look forward to working with Oxford Business Group’s team and exploring how Ghana plans to leverage these and other advantages,” she said.
Shadeh Olivia Van Esch, OBG’s Country Director in Ghana, said she welcomed GIPC’s input, which, she added, had long given the Group’s research an edge.
“The year 2016 is proving to be significant for Ghana, with a diversification drive underway and rising oil prices hinting at higher receipts for the country,” she said.
“The Ghana Investment Promotion Centre’s efforts to tap new FDI are a key component of the country’s broader plans for long-term economic growth. I am delighted that our readers will once again benefit from the GIPC’s take on the areas of the Ghanaian economy ripe for investment,” she said.
The Report: Ghana 2017 will be a vital guide on the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments.
The publication will feature contributions from leading personalities, alongside a sector-by-sector analysis of the country’s economy. Oxford Business Group’s report will be produced with the Ghana Investment Promotion Centre.
By Times Reporter