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Vice President urges long-term investment, stronger African participation in energy sector

Vice President urges long-term investment, stronger African participation in energy sector

By: Nana Ofori

The Vice President Professor Jane Naana Opoku-Agyemang, on Monday night joined Ministers, senior government officials, investors, industry leaders and strategic partners for the Africa Oil Week Presidential Dinner.

Addressing the high-level gathering of global energy giants and policymakers, she reaffirmed Ghana’s openness to credible, long-term and mutually beneficial investments in its natural resource sector.

According to her, while African economies urgently need revenues from their natural resources, the greater and more lasting opportunity lies in how those resources are developed, the indigenous capacity built around them, and how much of the resulting value remains on the continent.

“Ghana remains open to serious, long-term investment that is mutually beneficial. Our economies need the revenues generated by our natural resources, but the greater opportunity lies in how we develop them, the capacity we build around them, and how much of the resulting value stays in our countries,” she stated.

Prof. Opoku-Agyemang said achieving this shift will require strategic partnerships that combine international expertise and capital with stronger and more assertive African participation.

She acknowledged the contribution of global energy giant ExxonMobil to Africa’s energy landscape and encouraged the company to deepen its commitment to local capacity development in the countries where it operates.

The Vice President also urged the Ghana National Petroleum Corporation (GNPC) to reposition itself to play a more dominant and decisive role in developing Ghana’s hydrocarbon resources while attracting the right calibre of investment.

“For Africa to play a greater role in shaping its energy future, we need stronger African companies in strategic sectors, investment in our technical capabilities, and greater participation by African businesses across the energy value chain,” she said.

She added that the continent must also make better use of its regional markets to ensure that its vast natural resources drive industrialisation and broader economic transformation across Africa.

Source: Vanessa Elizabeth Nkum

Posted by: Nana Ofori

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