FEATURED: Why Are Black People Obsessed With The Bible That Was Used To Enslave ...

11.03.2009 Business & Finance

Moves to ensure direct benefits from oil find

By The Statesman

Two oil companies from Nigeria and Canada - Sigma Basestar and Rangeland - currently in Ghana to invest in the oil industry, have declared their intention to jointly undertake a four year pilot project in communities around Cape Three Points.

The move which is captured in a blue print, 'Sustainable Economic Development and Training initiative at Cape Three Points oil area in the Western Region', aims at increasing the capacity of the people to identify and pursue viable economic initiatives.

 Areas to be tackled include the development of economic development organizations in ten communities within the area, development of five viable business opportunities and training of one hundred economic development officers to promote oil related businesses.

There are also plans by the two companies to conduct fundraising campaigns to raise five billion cedis as regional development fund towards the creation of business and other economic activities at Cape Three Points and its surrounding communities.

These were disclosed at a mini durbar organised by the chiefs of Ahanta at Busua Monday where a seven-member executive from both companies were introduced to the chiefs.

The leader of the team and Managing Director of the Nigeria-based Sigma Technical Agencies Limited, Dr. Soky Amachree, in a brief remark described the intended projects as a 'mustard seed" which would ensure the growth and development of the Cape Three Points area.

Dr. Amachree, who claims to have been in the Nigerian oil business for the past thirty-five years, said the joint company want to avoid a repeat of what happened to the inhabitants of Nigeria's Niger Delta area with respect to development.

"In fact, we want the oil find at Cape Three Points to be a blessing and not a curse to the people , we want the people to derive maximum benefit from the operations of the oil industry,' he added.

He therefore called for collaboration between the people and the companies for the realization of this dream.

Welcoming the team earlier on, the divisional chief of Aketekyi, Nana Borzah VIII, bemoaned the sorry state of Ahantaland which abounds in human and natural resources such as gold, manganese, rubber and the recently discovered oil at Cape Three Points.

 He hoped the area would see massive transformation with the advent of the two oil companies.

The Statesman understands the joint-venture company has already opened an office in Takoradi after a five month stay in the country.