Local content and private sector participation in Ghana's oil industry: an economic and strategic imperative

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Periodical article

Title:	Local content and private sector participation in Ghana's oil industry: an economic and strategic imperative
Authors:	Arthur, Peter Arthur, Emmanuel
Year:	2014
Periodical:	Africa Today (ISSN 1527-1978)
Volume:	61
Issue:	2
Pages:	57-77
Language:	English
Geographic term:	Ghana
Subjects:	petroleum industry capacity building enterprises private sector economic development
External link:	https://muse.jhu.edu/journals/africa_today/v061/61.2.arthur.pdf
Abstract:	Many African countries rich with natural resources are taking measures to improve the management of these resources and to ensure that they contribute to the socioeconomic development of their countries. Centre stage is local content policy. This article examines the local content policy that has been adopted by the government of Ghana to further domestic job creation and improve the local capabilities, competences, and capacities of businesses. Achieving these goals will depend on addressing financial, human-resources, and technological challenges faced by local businesses in the oil and gas sector. Given the economic and strategic importance of oil, the paper suggests that promoting capacity-building measures, improving the access of local businesses to funds and capital, and helping local businesses with large-scale procurement in Ghana, national industries will be able to develop and thus generate employment ensuring that the positive effects of the local content policy become a reality. Bibliogr., note, sum. [Journal abstract]