IN modern economic trends, the ability of a nation to develop, among others, depends on that country fostering good collaboration between local and foreign business interests to ensure that both parties benefit from the symbiotic relationship.
Over the years, concerns have been raised over the abysmal influence of local players in key sectors of the economy such as energy.
In the light of this, the interest expressed by some local companies in service stations and downstream assets of Shell in the country is a positive signal that must be hailed.
The global energy giant recently gave indications of its intention to sell its service stations and downstream assets in 21 African countries, including Ghana.
The government, in the true spirit of boosting local content in the country’s oil industry, has lent a hand of support to local enterprises seeking to acquire those assets.
In Wednesday’s issue of the DAILY GRAPHIC, the Energy Minister, Dr Joe Oteng-Adjei, was reported to have expressed the government’s resolve to assist local entrepreneurs to acquire those assets.
He gave indications that efforts were being made to mobilise interested local companies and entrepreneurs to form a cadre to ensure effective negotiations with Shell.
The DAILY GRAPHIC commends the government for exhibiting such great foresight that will no doubt help boost the local economy, considering the vital role energy plays in every economy.
Today, the capacity of the local players in the oil industry has improved from about five to more than 30 per cent and with this support the capacity of the players will be further enhanced to create jobs and improve livelihoods.
Now it is time for the local companies and entrepreneurs in the energy sector to demonstrate the will and the entrepreneurial fortitude that are required to place them ahead of the competition.
Ever since the country discovered oil in commercial quantities in its territorial waters, there has been talk of encouraging Ghanaians to own stakes in the oil industry. And even as the country strives for a local stake in the upstream and midstream of the oil business, it will also be helpful to boost local participation downstream.
Already, there are some local fuel service stations that are offering valuable services to Ghanaians and although they have faced challenges, the case is not one of hopelessness.
While the country seeks to encourage local players in the energy sector, it is important for the government to ensure that prevailing conditions continue to support the growth of these local companies.
Globally, the energy sector has suffered over the past few years as a result of the global financial melt down and although many countries are emerging from the woods, there is still the need to ensure that the local industry, fragile as it may seem, is well insulated against the shocks on the international market.
The DAILY GRAPHIC also wishes to encourage local players to build very good corporate images to be able to stay above the intense competition in the sector.
In recent times, there have been reports of adulteration of particularly petrol by some service stations. Additionally, there have been reports of some fuel attendants giving patrons less fuel than they have paid for. Such practices can derail whatever efforts the government is making to help improve the lot of local players in the industry and negatively affect the fortunes of the fuel stations in question.
Local players need to bear in mind that consumers are well aware of such bad practices and will avoid stations that are associated with them.
There are very bright prospects in the sector and it is our wish that local companies and players would position themselves well to enjoy the benefits that the industry offers them.
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