Mr Emmanuel Kofi Buah (left), Ghana’s deputy Energy Minister, being presented with his award by the organisers

STORY BY: EVANS OSEI BAFFOUR, BACK FROM HOUSTON, TEXAS, USA.

A Ghanaian deputy Minister of Energy in charge of Petroleum, Mr Emmanuel Armah-Kofi Buah, has been honoured with the State of Texas recognition award at the fifth edition of the Offshore Technology Conference (OTC) held in Houston, Texas USA.

The meritorious award is for his commitment to ensure the creation of a sustainable energy policy in the sub-Saharan region.

According to organisers of this year’s event, the award was given based on Mr Buah’s contribution towards the development and stimulation of economic growth in the oil and gas sector over the past few years as a Minister responsible for the sector.

They added that the Ghanaian minister deserved the award due to his youthful exuberance which has necessitated the rapid growth of his country’s oil sector.

They intimated that he ensured that the best laid down policies were duly formulated and implemented.

His Excellency Gabriel Obiang Lima, the Minister responsible for Mining, Industry and Energy from the Equatorial Guinea, also won the Rising Star award and was decorated with the Dynamic Regional Leadership award.

Other award winners were Dr Keith Milheim, Director of Meps-First Oil, who won an award for his technological inventions in the development of riser as disruptive deep water drilling technologies; Tullow Oil, represented by Tim O’Hanlon, and the Vice President for African business, was given an award for discovering oil and gas in most of the region’s new frontiers.

The trio of Dr Nirajan Banik, Scientific Advisor of Western Geco Schlumberger; Mark Miyaoka, CEO of Terradata Geoscience, and; Dr Jim Spear, won the awards for Research and development in the oil and gas industry.

Ecobank also received an award for its prime involvement in regional oil and gas financing and for her buoyant market expansion as a differentiated pan-African bank.

At the end of the event, participants, exhibitors, sponsors, media partners and a great array of the members of the fourth realm of estate are looking forward to another fruitful mix in the 6th annual sub-Saharan Africa Oil and Gas Conference which has been scheduled to come off in Houston from Thursday, April 25 – Friday, April 26, 2013.

Michael Ikpoki, CEO of MTN

The chiefs and people of Juaso Nkyesa in the Asante Akim District of Ashanti Region have expressed appreciation to Mobile Telecommunications Network (MTN) for what they see as a huge boost to education in the area.

Their appreciation follows the construction of a six-unit classroom block with store and offices for teachers of the Nkyesa LA Primary School.

The commissioning of the new classroom block has brought a great relief to both young and old in the community since school pupils hitherto had only an old school block built in 1960s to be used as a classroom, a situation which negatively impacted on teaching and learning in the area.

The commissioning formed part of series of activities marking the MTN Ashantifest which was celebrated last week.

At a brief ceremony to commission the project, Chief Executive Officer of MTN, Michael Ikpoki, reiterated the company’s urge to help in contributing to the socio economic development of the country adding that education has always been a priority of MTN.

He announced that apart from the GH¢162,318 million cedis being the cost of the project, MTN also provided an additional GH¢10,000 which was used for furnishing the classrooms.

Mr Ikpoki who revealed that the Nkyesa Primary School was the third school to be commissioned by MTN within four months also added that the benefits of education to a nation could not be over emphasised hence their commitment to helping several villages in the country with educational facilities.

He stated that the company had assisted in constructing 32 educational projects in the country costing them about GH¢4.7 million cedis.

“Let me also add that of this amount Ashanti Region alone has enjoyed GH¢700, 000 in health and educational projects but we are not done yet, there is more to follow and we look forward to continued support from all chiefs and people in future,” the MTN CEO said.

The Chief of Nkyesa, Nana Nkyesa Frimpong Charles, in an address read on his behalf could not hide his joy at the commissioning of the school and asked for God’s blessings for staff of the telecom company.

He however asked for more support from MTN in the construction of boreholes and a chief’s palace.

He advised parents in the village to ensure that their wards attend school regularly since ‘the future of Nkyesa lies with these kids.’

STORY: FROM JAMES APPIAKORANG JNR., NKYESA, A/R.

The 2012 edition of the Offshore Technology Conference (OTC) held in Houston, Texas in the United States of America (USA) came to a resounding end with many bright spots to look up to.

During a Pan-African programme at the fifth sub-Saharan Africa Oil & Gas Conference held at the forecourt of Reliant Arena–OTC venue in Houston, Texas, the Chief Executive Officer of Energy and Corporate Africa, Mr Sunny Oputa, the organisers of the event, noted that “a conference like this is needed to promote the new and promising African market and it enables the sharing of knowledge among industry peers and also triggers meaningful networking.”

He further added that the conference further gave the forum for the IOCs and independents to understand what producing nations expect from them and also provides an umbrella for cooperation amongst various stakeholders.

Later the Ghanaian delegation led by Ms Heather Byrnes who also doubles as the Senior Commercial Officer at the United States of America’s Embassy in Accra, was hosted by some of the Ghanaian based United States (US) companies including Schlumberger, Baker Hughes, and MODEC International LLC.

At Western Geco, a subsidiary of Schlumberger, the Ghanaian delegation which was led by Mr Emmanuel Armah Kofi-Buah and supported by the Chief Executive Officer of the Petroleum Commission, Dr Kwabena Donkor, was taken through some of the company’s operations with regard to information technology and data management.

According to Rick Johnston, one of the company’s senior personnel, Schlumberger was into three key activities including Drilling, Production and Reservoir Characterisation. The forty-five minutes tour ended up with a launch and later with dinner.

This year’s conference was highly participated by almost all the major international oil companies and big independents such as: Shell, Exxon Mobil, Noble Energy, Marathon Oil Corporation, China petroleum Technology & Development Corporation, Nigeria Sao Tome & Principe Joint Development Authority, Tullow Oil, ERHC Energy, Afren, Kosmos Energy, MEPS – First Oil and Enventure Global Technology.

Also financial institutions such as Ecobank – a Pan-African with footprints in more than 32 African countries and a great degree of industry big players, decision makers and government representatives were present at the event.

From Ghana were about fifty local companies which participated. These were the Ghana National Petroleum Company (GNPC), Association of Ghana Industries, Allied Oil Company Limited, Attok International Ghana Limited, Centre for Professional System and Service, Cicada Consulting Limited, Cigads Security & Allied Services, Consolidated Shipping Agencies Ltd as well as Dalpha Ghana Limited.

Others were Folksworld Consulting Services, Geoquaye Company Ltd, Keness Ventures, Macro Group, Meridian Logistics & Supply Ltd, Nexans Kablemetal Ghana Ltd, Proconsult Ltd, Regency Alliance Insurance Ltd, SAL Consult Ltd, Sage Petroleum Ltd, Schlumberger Ghana, Seaweld Engineering Ltd, Stable Capital Ltd, STMC Global Ghana, Top Oil Company Ltd, Unity Oil Company Ltd Venture-G Travels Ltd, Walkdav Business Ventures and Zodiac Marine Services Limited.

With a retinue of seasoned speakers from the industry and governments presenting unique papers and representations from countries such as Ghana, Nigeria, Senegal, Gabon, Equatorial Guinea, South Sudan, and others made the event to be resourceful and colourful.

At the end of the event participants, exhibitors, sponsors, media partners expressed the optimism of looking forward to another fruitful mix in the 6th annual sub-Saharan Africa Oil & Gas Conference which has been scheduled to be held in Houston, Texas from Thursday April 25 – Friday April 26, 2013.

The theme for the 2013 edition will be “Maximizing Exploration & Production through Technology, Financing, Project Management, and Risk Aversion & Local Content Policy.”

Edward Boateng, Executive Chairman of Global Media Alliance

Global Media Alliance, a Pan African Media, PR, Event Management and Entertainment Company has been nominated as one of five (5) companies in Africa to receive the award for Environmental Sustainability in Africa at the upcoming Africa Business Awards organized by the African Business magazine, and the Commonwealth Business Council (CBC).

The awards scheme is to celebrate excellence and best practices in African business and to give recognition to deserving institutions for driving Africa’s rapidly transforming economy.

The shortlist of nominated companies is determined by the African Business magazine team and representatives from the Commonwealth Business Council whilst winners are selected by independent judges selected across Africa. Sir Samuel Esson Jonah, founder of Jonah Capital and Issa Omari, CEO of Investment Climate Facility for Africa are among the list of judges for this year’s edition.

Global Media Alliance was nominated for the Environmental Sustainability in Africa award due to its recent introduction of the “Planeteers Movement” concept in Africa. The Planeteers Movement, a voluntary environmental movement launched in October 2010 and nurtured by Global Media Alliance is aimed at using innovative strategies with team work, cooperation and unity in championing the course of the environment. Started by employees of Global Media Alliance, the movement has expanded and now has members from other corporate and tertiary institutions. The movement has transcended the borders of Ghana, and is now in Sierra Leone, Zimbabwe and South Africa.

The movement recently held an ENVIRONMENTAL STAKEHOLDER’S DIALOGUE at the Ministry of Environment Science and Technology on the 2^nd of February 2012 under the theme “Creating Innovative Strategies and New Jobs for Sustainable Development and a Healthy Environment”.

Edward Boateng, Executive Chairman of Global Media Alliance, who was recently adjudged “the Best Media and Entertainment Entrepreneur 2011”, explained that the Planeteers Movement initiative is unique, since its impact is now transnational. “We are proud that this movement which started small in Global Media Alliance is now changing the African continent”.

In its 5^th year of existence, this year’s edition is set to take place on the 7^th of June in London with many of the major brands in the African business world attending.

“The new identity of GOIL is as a result of the company’s response to well researched consumer insights and I, together with my management team are confident that in creating the sort of image that our stakeholders are proud of, we thus ensure continued demand for the products and services that our employees create,” he said.

“GOIL’s vision is to be a world class provider of goods and services in the petroleum and other areas of the energy industry.

“The company is looking forward to growing its share of the market by creating a greater affinity for its products and services amongst Ghanaians and visitors alike. In line with this vision, GOIL will remain determined in its drive at providing highly ethical, environmentally friendly and socially responsible business practices, as well as focusing on new technologies that will enhance service delivery.” Mr. Ackumey added. GOIL Board Chairman, Prof. William Asomaning in his address said “the expected result of our rebranding exercise is to offer a better value to our consumers which will in turn provide organic growth, enabling us to provide greater returns to our shareholders as well as be a responsible partner to government’s efforts at developing the nation”.

Energy Minister Joe Oteng-Adjei said “I am glad that GOIL, the nation’s premier indigenous oil marketing company has decided to draw on its innovative energies in order to better position its products and services in an increasingly competitive market. Ghana is now a player in the international petroleum market and it is highly appropriate that a Company such as GOIL which is largely owned by the Ghanaian people is able to stake a good claim on the prosperity that our resources will create”.

He however cautioned the Management and Staff of Goil, saying: “You may evolve all the best marketing strategies, advertise the best of commercials, but if the Management and Staff of your Company do not shed off their negative attitudes, practices and idiosyncrasies acquired over the years, all your re-branding efforts will come to nothing.”—Myjoyonline.com

Dr Pikay Richardson, a senior visiting fellow at the Manchester Business School, made this known at a business seminar in Accra last Friday.

The seminar, organised by the China Europe International Business School (CEIBS), was on the theme: “Leading and managing organisational change in a fast growing global world economy.”

Dr Richardson explained that globalisation was simply nations getting together for common purposes in the area of trade, finance, commerce, ICT, education among others.

He revealed that industries are frequently getting together (industry collusion) making it very competitive for businesses who want to thrive.

He explained that change is the converse of the status quo adding that it could either be imposed thus exogenous or self-orchestrated which is endogenous.

He gave examples of change as personal, organisational, national as well as international.

According to the renowned scholar, success is not permanent and hence every phenomenon must prepare for change.

“Size doesn’t guarantee success and being the first at something is not enough; it gives an advantage but only for a while.”

He advised that managers should have the eye of seeing markets without borders instead of countries with borders.

On management, he posited that the world has gotten to a stage where good management is no longer enough but effective leadership.

He explained that leadership is about issues stressing that leaders manage people while managers manage structures.

Dr Richardson intimated that an ingredient for successful change effort is “being change ready and overcoming resistance to change.”

He added that there is always resistance to change because humans are creatures of habit.

The business lecturer advised everyone who wanted to succeed in his or her venture to do everything to make the customer who he is, make sure the customer stays and make sure the organisation has the staff to deliver quality service.

He outlined eight stages of leading major change among which, he said, was the need to establish a sense of urgency, creating a guiding coalition and developing a vision and strategy for oneself or outfit.

He added that there was also the need to communicate the change vision to everyone involved, empowering broad-based action and also generating short-term wins.

He concluded by saying that consolidation of gains and producing more change was inevitable for a major change direction in any system.

The seminar was attended by lecturers from CEIBS and other tertiary institutions, business managers, business students among others.

STORY: SELORM ATUTORNU

The call was made by Ms Heather Byrnes, the Coordinator of Ghana’s official delegation to the 2012 edition of the Offshore Technology Conference (OTC) held in Houston, Texas in the United States of America (USA).

According to Ms Byrnes, Ghana as a nation has become a hub for rapid economic growth which has actively been dominated by the Oil and Gas sector despite its three years of operation.

“The growth of Ghana’s economy over the past three years was as a result of its strong democracy and good governance,” she added.

Ms Heather Byrnes who also doubles as the Senior Commercial Officer at the United States of America’s Embassy in Accra made these assertions during a Pan-African Programme at the just ended annual fifth Sub-Saharan Africa Oil & Gas Conference held at the forecourt of Reliant Arena –OTC venue in Houston, Texas.

Tycoons and experts especially those in the Oil and Gas Sector were challenged to put in place measures that would pave way for investing in Ghana’s oil and gas sector since there are more business avenues which are untapped.

She gave the assurance that the security system of Ghana was very conducive for investors to operate irrespective of the time; “me and my family have really enjoyed the peaceful atmosphere in Ghana and would encourage investors who have the intension to travel to Ghana of quality security.”

On his part, a Deputy Minister of Energy in Ghana Mr Emmanuel Armah Kofi-Buah, in his keynote presentation on behalf of Ghana thanked the organisers for inviting and offering the nation the platform to share with the world the developments in the oil and gas industry in Ghana.

He mentioned that Ghana as an infant oil producing country stands to benefit by participating in Offshore Technology Conference since it would enable participants to get access to new technologies and ideas in the industry stressing that the conference would also go a long way to establish international business relationships, enhance business development and discover solutions to key challenges confronting the industry in Ghana.

Mr Kofi-Buah added that the Government of Ghana’s vision for the energy sector was aimed at developing an energy economy that will ensure a reliable supply of high quality energy services for all sectors of the Ghanaian economy and to become a major exporter of oil.

He lauded the Ghanaian companies that made it to this year’s event which was aimed at exploring new ideas as well as build direct contact with their colleagues from the other parts of the world.

He added that their quest to become part of the Oil and Gas industry was important to the Government of Ghana.

“Over the last few years, about $6 billion has been spent on exploration, development and production activities in Ghana. Out of this, less than 10% was contributed by local suppliers of goods and services,” he emphasized.

According to Mr Buah; “in the next 10 years, we estimate that about $15-$20 billion would be spent on exploration, development and production activities as well as supporting midstream and downstream infrastructure. Can you just imagine the additional value that can be appropriated to the country for even an additional 10%-20% increase in the substitution of foreign suppliers by local suppliers?”

The conference which was under the theme:  “Gas Monetization & Deep Exploration in Africa,” projected the various gas master plans, existing projects, new licensing rounds, investment opportunities and national quests to invest more in deep or ultra -deep water activities.

STORY BY: EVANS OSEI BAFFOUR & YASMIN BOAMA, BACK FROM HOUSTON, TEXAS (USA)

Dr. Kwabena Duffour, Minister of Finance and Economic Planning

—IPAC report

The Public Interest and Accountability Committee has given indications that government was over ambitious and overestimated its revenue expectations from the nation’s petroleum revenue for 2011.

This was contained in its first annual report on how Ghana’s revenue was managed in the year 2011. The report also cited some loopholes in collection of the Revenue Fund where it indicated that “in terms of loyalty, carried interest, corporate tax and surface rentals among others, not all payments expected from the oil wealth went into the Revenue Fund.”

These were revealed at the presentation of the official report of the management of the nation’s Petroleum Revenue for the year 2011.
The Committee which was established in April 2011 under the Petroleum Management Act 815 in its report highlighted some thematic areas including the Annual Budget, Stabilization and the Heritage Fund.

According to the report findings, Ghana lifted a total quantity of three million, nine hundred and thirty point one eighty nine (3,931.89) barrels which represented 16 percent instead of the projected 18 percent.

Additionally, the report discovered that government estimated one billion two hundred and fifty million Ghana cedis (1,250,000) for the year 2011 but the actual turnout was six hundred and sixty six point two million cedis.

It also indicated that there were inconsistencies within the law which led to the implementation of the Petroleum Revenue Management Act 2011, (Act 815).

Chairman of the Public Interest and Accountability Committee, Major Retired Daniel Abloh Quacoo, presented the report at a news conference in Accra.

As part of its recommendations, the committee admonished the Ministry of Finance and Economic Planning to go by the methodology spelt out in the bench marks as required by Petroleum Revenue Management Act 815.

It also impressed upon government to expedite action on the processes needed for the development of a nationally owned long-term development plan in line with the provision of Act 815.

The report further asked the Ghana National Petroleum Authority to release its interim report on what happened to the 47 percent of the oil revenue it received. Copies of the report were made available to representatives of the Presidency and the Parliament of Ghana.

The Public Interest and Accountability Committee has 30 representatives from 13 selected organizations including the Ghana Bar Association, the Clergy, the Institute of Chartered Accounts, the traditional authority, the Trades Union Congress and the Ghana Journalists Association.—Citifmonline.com

Philip Sowah, Managing Director of Airtel Ghana

The Airtel Money Market runs on Rancard’s Rendezvous Technology product which allows Ghanaians to use social interactions and contributions from trusted individuals as a guide in their decision to buy goods online.

The online platform will enable merchants have multiple outlets in addition to opening a virtual store and stocking it with merchandise available for sale.

For potential customers that visit the money market, they can window shop, as well as, compare prices from different merchants all from the comfort of their home or office.

Speaking at the launch of the Airtel Money Market, Managing Director of Airtel Ghana, Philip Sowah, said the launch of the online store falls in line with Airtel’s quest to introduce onto the Ghanaian market innovative products which customers will find beneficial to their daily lives.

“The Airtel Money Market is just another addition to the many other packages that we have added since the launch of Airtel Money. As you know our customers are able to contribute to their investment portfolio, we have insurance packages and of course the payment of utility bills including DSTv and the convenience of linking bank accounts to the Airtel Money platform as some of the many benefits derived from Airtel Money,” Mr Sowah said.

Director for M-Commerce at Airtel Ghana, Kola Sonola, explained that the rationale for creating the Airtel Money Market among others is to increase the channels for Airtel Money customers to do more with the service while positioning Airtel Money as an easier payment solution for online shopping.

Mr Sonola added that the creation of the online shopping portal will help merchants with cash mobilization and also increase self-initiated transactions.

Explaining how Airtel Money Market works, Mr Sonola said “the process is simple, much like making purchases though recommendations on a regular social commerce website. When a user checks out of the virtual store after making all their purchases, they receive an SMS message asking for a confirmation of the order and payment amount.

Once the user selects send, the money is transferred to the retail vendor, and the user receives another text message with a purchase code. This purchase code is then used to identify and pick up their order from the merchant”.

The Managing Director of Rancard, Kofi Dadzie, said the possibilities for Airtel Mobile Money/Airtel Money Market using Rancard’s Rendezvous product to create new markets by making social commerce available through online merchant portals is endless. It gives the African consumer an opportunity to buy products based on viable recommendations.

“Africa’s growing middle class provides a burgeoning market that can be energized to create greater demand in online shopping through social recommendations – this is what Rendezvous extends with the world of social commerce,” he said.

According to him, the big picture for Rancard’s Rendezvous product technology is the unleashing of social commerce, a natural form of driving sales in a connected and mobile environment.

Rancard’s PayApp is a gateway that extends Airtel Mobile Money with online purchasing capability providing a complete solution that commences with social commerce enabled by Rancard Rendezvous.

Alhassan Andani Managing Director of Stanbic

The Managing Director of Stanbic Bank Ghana, Alhassan Andani, has disclosed that the

bank and Standard Bank South Africa, both members of the Standard Bank group have raised $300-million in medium-term funding facilities on behalf of its client, Scancom Limited (“MTN Ghana”) to support the Ghanaian economy in order to create jobs in the country.

Speaking at the signing ceremony in Accra Wednesday to spearhead the deal, Mr Andani said “MTN has been a business leader over the years and we at Stanbic Bank are delighted to be playing a key role in mobilising these funds.

He noted that this landmark transaction is a testament to our collective drive to support the Ghanaian economy, saying that it will create jobs and give hope to our people.”

He noted a total of 20 local and international financial institutions bid and took part in the transaction, which represents the largest bank syndication in Ghana outside the annual Ghana Cocoa Board transaction.

He disclosed that the Standard Bank raised GH¢ 410 million term funding in the local Ghanaian market, making this the largest local currency deal in Ghana’s history saying the remaining $60 million received a positive take-up by foreign banks.

The Stanbic Bank Ghana MD noted that MTN Ghana appointed Stanbic Bank Ghana Limited and Standard Bank of South Africa as the Global Coordinator for the deal and they ran the entire syndication process to secure the funding.

He pointed out that the Stanbic Bank also participated in the transaction and Standard Bank of South Africa is the Facility and Security Agent, explaining that Stanbic Bank Ghana has led the execution of a number of high profile transactions leading to the bank being voted as Best Investment Bank in 2011 by the prestigious EMEA Finance magazine.

According to him, the transaction represents the largest local currency deal and the largest syndication outside the annual COCOBOD syndication transactions which are usually in foreign currency.

Mr.Andani indicated that there was a positive take-up by financial institutions and as such the Ghanaian Cedi facilities and USD facility were oversubscribed by 35% and 92% respectively, an indication of the financial strength and quality that local and foreign banks see in MTN Ghana and its operations.

He said MTN Ghana wanted a bank with a proven international and African footprint to facilitate and participate in the transaction as there has not been a local currency syndication of this size before, adding that the Standard Bank through its African and international network was able to demonstrate its ability to raise funding from multiple sources in both local and foreign currency.

According to him, the funds raised in the bond issue will be used by MTN to expand and improve its network in Ghana going forward.

For his part Chief Executive Officer (CEO) of MTN Ghana, Mr. Michael Ikpoki, said “This is a demonstration of how we see our business in Ghana. By looking within to raise this amount of money, we are indicating to the people of Ghana that we have absolute confidence in the economy and more importantly, the Ghana Cedi. This financing will help up us take our business to the next level where the consumer will be the ultimate winner.”

Director of Stanbic Bank’s Corporate and Investment Banking unit, Kwamina Asomaning said “as a leading emerging markets’ bank and currently Ghana’s Best Investment Bank, we are serious about playing a transformative role in Ghana’s corporate sector in partnership with government, organizations such as MTN and other likeminded institutions across all sectors. As a member of Africa’s largest Bank, Stanbic Bank Ghana is in the best position to harness resources across the group to deliver results that impact on the lives of Ghanaians.”

“The requirement by MTN Ghana was for a global bank with a strong African footprint. Our appointment was consequently an endorsement of Standard Bank’s strategy to have Africa at our core as we extend and deepen our business across the continent. This is a landmark deal that confirms our credentials as a leading investment bank not only in Ghana but across Africa.”

This is the first time a multinational company in Ghana has raised capital in Ghanaian Cedis on this scale.

Mandated lead arrangers for the syndication are: Stanbic Bank Ghana Limited, Ghana Commercial Bank Limited, Ecobank Ghana Limited and Ecobank Capital, Standard Chartered Bank Ghana Limited and Barclays Bank of Ghana Limited. Mandated Lead Arrangers in the USD Facility are: FirstRand Bank Limited acting through its Rand Merchant Bank Division andExport Development Canada.