Ghana's energy sector full of opportunities for investment - Energy Minister to Houston Mayor

The Minister for Energy, Dr. Matthew Opoku Prempeh, has stated that the country’s energy space is full of huge opportunities for investment in both the power and petroleum sectors.

Dr. Prempeh made these remarks when he led an official delegation to meet Sylvester Turner, Mayor of Houston, Texas-USA, at the Kempinski Hotel in Accra earlier today. The Mayor is leading a delegation to the country on a trade and investment drive.

In 2022, the two met in Houston during the Africa Energy Summit, and again at the Offshore Technology Conference (OTC) earlier in 2021. On both occasions, their discussions were ‘very fruitful’, according to the Minister.

Referring to the historically warm relations between Ghana and the United States, the Minister noted the role played by the United States government in the construction of the Akosombo Dam to provide hydro-electricity to Ghana.

“In the business community, in the Peace Corps progamme and in several other endeavours, American presence in Ghana has been an important force to reckon with, and must work harder at deepening this”, he said.

Dr. Prempeh further acknowledged Houston as the energy capital of the world, which made this visit particularly significant in respect of the opportunities for investment, collaboration and strategic partnerships in the sector.

“Ghana has everything going for it as a destination for investment– a stable political system, a robust legal framework, a viable fiscal regime, a good telecommunications system and warm, hospitable people”, he said.

He further highlighted the work that President Akufo-Addo’s government has done over the past six years in opening up access to education and skills training as a critical base for leveraging on the opportunities that investment will provide.

On his part, Mayor Turner stated that he was excited about his delegation’s visit to Ghana which he described as ‘very productive’, and stressed the need for partnerships that make an impact on ordinary lives.

He agreed that Africa was the ‘new frontier’ for investment and that the combination of vast mineral deposits and a youthful population with education and skills training meant that the potential was enormous.

After the discussions, the Minister presented the Mayor with a plaque displaying various Adinkra symbols, whilst the Mayor presented the Minister with a book on the City of Houston.

The heads of various energy sector agencies, private operators and senior officials were in attendance on the Ghanaian delegation, whilst the Houston delegation included members of the City Council and representatives from various oil companies.

The delegation leaves the country on July 24, 2023 back for the United States.