Business News of 2014-08-29

OMCs confident of good business in Ghana - ZEN boss

The ZEN Petroleum boss, William Kodwo Tewiah, has said the only way downstream petroleum sector can take advantage of responsive local content policies is by providing quality services for better prices.
He said in anticipation of policies that benefit local businesses, industry players must work together and take on the challenges of doing business in order to gain recognition.
Tewiah said it is incumbent on the current market leaders to attract others into the country's burgeoning petroleum sector to add to the nation's wealth and help in the overall development of Ghana.
The ZEN Petroleum boss was optimistic that government will enact realistic laws and policies to make the nation's downstream petroleum as competitive as their counterparts in other countries.
He said local companies have nowhere to spend their profits but here in Ghana.
“There’s a lot that government can do to help the local petroleum sector to grow through adequate local content legislation,” Tewiah told StarrFMonline.com.
According to him, the downstream petroleum sector provides a huge opportunity for local companies to provide employment and build confidence. He said local petroleum companies need to be encouraged through such policies that will ultimately benefit the local economy.
Source: starrfmonline.com
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