Kosmos Energy Ghana has launched a new corporate social investment programme, known as Kosmos Innovation Centre (KIC) in Accra yesterday.
The KIC will use innovation and apply commercial solutions to Ghana’s existing social and economic challenges by using a market based approach that facilitates private sector enterprise and entrepreneurship.
Speaking at the launch Mr. Joe Mensah, Vice President and Country Manager, Kosmos Energy said the initiative was a marked departure from the traditional approach to corporate social responsibility.
He said the KIC would move into full operation to tackle its first development challenge in agriculture.
“The programme would encourage budding entrepreneurs to use information and communications technology to transform the agricultural sector. It will involve designing activities that target the entire value chain, from stimulating new ideas to funding expansion of existing commercial enterprises, and at every stage it will generate enthusiastic participation through communication and knowledge sharing,” he said.
To get results that drive change, Mr Mensah said the KIC would use three-part approaches which are collaboration, incubation and acceleration.
Mr. Mensah said “it is our vision that the programme will bring about social change by stimulating young people’s interest in agriculture which is often regarded as a dull and unrewarding activity, despite the huge potential for economic gain that it offers and its crucial importance to our national economy”.
He said small agribusinesses would receive investment to execute business models that serve small-holder farmers.
“By fostering innovation, we will bring about market system change. Ultimately, we expect our intervention to lead to the establishment of agri-tech exchanges and other forums that would help bring new thinking and expertise to the sector,” Mr. Mensah said.
Alhaji Mohammed Muniru Limuna, Minister of Agriculture, who launched the KIC, said the initiative by Kosmos was laudable as it would help in the country’s quest to further grow the agric sector.
He said there was the need for the youth to consider agric as a serious business and take keen interest in it.
The minister said the government had put in place measures and policies to attract the youth into the agricultural sector.
He challenged other corporate institutions to take a cue from the Kosmos initiative to plough back part of their profit into the agricultural sector.