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Event

Leveraging Lessons from the Oil Sector to Maximise Opportunities from the One District One Factory Initiative – Western Region Coastal Foundation

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Date/Time
Date(s) – 05/10/2017
8:30 am – 1:30 pm

Location
Best Western Plus Atlantic Hotel


Leveraging Lessons from the Oil Sector to Maximise Opportunities from the One District One Factory Initiative – Western Region Coastal Foundation.

In 2007, Ghana discovered oil off the coast of the Western Region. Many Ghanaians, especially, residents of the Western Region, hailed this discovery and expected their quality of life to change. Policy makers were quite optimistic that the new oil economy Ghana was venturing into was going to inject some life into the economy; Ghanaian business expected to maximise the opportunities that the oil and gas sector would bring. In the Western Region, residents had hopes of employment and having good incomes from the oil and gas sector.

Clearly, for a growing industry, the oil and gas sector has created opportunities that local businesses have maximised. However, many more local businesses, particularly the SMEs, and other stakeholders claim they are yet to fully benefit from the sector in terms of contracts, employment, or other. Why is this so? Is it an issue of inadequate capital? Inadequate capacity to deliver on industry standards? Inadequate skills to be employed by the sector? Is it the influx of foreign companies using Ghanaian companies as a front? Or is the industry too small to realistically to provide enough opportunities for all? Alternatively, could it all of the above or none at all?

In light of these questions, the private sector, in collaboration with the Government will need to start looking at other economic sectors and the potential opportunities they present for growth. The Government has proposed some economic programmes, which include the One District, One Factory initiative, the Infrastructure for Poverty Eradication Programme (IPEP), and the establishment of Development Authorities, which have great potential to catalyse growth for the region. Drivers of these initiatives can help businesses and other stakeholders to fully maximise the opportunities the programmes present based on lessons learnt from the oil and gas sector.

Therefore, the Western Region Coastal Foundation (WRCF), in collaboration with the Ghana National Chamber of Commerce (GNCC) – Sekondi/Takoradi, deem it appropriate to have a discussion with local businesses, Industry, community leaders, and other stakeholders in the Western Region about these Government economic initiatives.

The one-day learning conference will assess the extent to which Oil has benefited Ghanaian businesses and communities, the gaps, and lessons learned; and how Industry, businesses and stakeholders from across the Western Region can use lessons learnt from the oil sector to maximise opportunities presented by the 1D1F programme and others to accelerate economic growth for the region.

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Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
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