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16.03.2016 Business & Finance

Kosmos Energy launches Kosmos Innovation Centre

By|Nathan Gadugah
Kosmos Energy launches Kosmos Innovation Centre
LISTEN MAR 16, 2016

Oil giants Kosmos Energy has launched its new flagship corporate social investment programme dubbed the Kosmos Innovation Centre (KIC).

The Centre will in many ways rekindle a new entrepreneurial spirit in Ghana's youth and will adopt innovative means to solve some of the greatest challenges facing the country.

Under the theme: "Investing in Ghana's future, one entrepreneur at a time" KIC promises a well oiled, thoroughly coordinated programme that will positively affect each sector of the country's economy.

At a simple yet grand launch at the Movenpick Hotel in Accra, Wednesday, the Country Director of Kosmos Mr Joe Mensah said the programme follows the "contrarian thinking and entrepreneurial spirit" that helped Kosmos to get to where it is today.

The only difference, he noted was that KIC will be the "angel investor who supports someone else's dream. And in the process hope to play a role in solving some of Ghana's most pressing developmental challenges."

How will this dream manifest?
Mr Mensah said the KIC will use innovation and apply commercial solutions to Ghana's existing social and economic challenges by using market based approach that facilitates private sector enterprise and entrepreneurship.

"This initiative is a marked departure from the traditional approach to corporate social responsibility," he said.

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According to Mr Mensah the programme will use three prong approaches- collaboration, incubation and acceleration- to drive change and get the necessary results.

Explaining the three different approaches, the country manager said as part of collaboration KIC will foster partnerships to tackle challenges together.

"KIC will bring together the best and brightest minds from a range of fields, such as business technology finance and academia to talk through issues encountered in a selected sector of the economy."

Through incubation he said KIC will "nurture promising start-up companies" through formal competitions and will accelerate the programe by investing in small business development.

In its first year, 2016, KIC has chosen agriculture as its area of focus from the different sectors of the country's economy.

The Agric minister Alhaji Mohammed Muniru- Limuna who was present to launch the Centre was optimistic KIC will help in resuscitating an ailing sector of the economy.

He said his first official assignment after he was announced Minister of Agric was to attend the State of the Nation Address where members of the Minority wielded placards that suggested Agriculture was dead.

He said he was reminded about the enormity of the challenge at hand and believed KIC will play a role in changing the fortunes of agric in the country.

He was particularly optimistic that the programme will change the age-long perception that agriculture is for old tired minds and would rather encourage young entrepreneurs to venture into the sector.

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