The Chief Executive Officer and management of the Ghana Free Zones Authority have extended their congratulations to the newly appointed management board of the Petroleum Hub Development Corporation. Amb. Michael A.N.N.Y Oquaye, C.E.O. of the GFZA, expressed the hope of seeing the two institutions working closely together to advance the national development goals.
He also extended special congratulations to Mr. Kwame Asante Nsiah, the Ghana Free Zones Authority representative on the PHDC’s governing Board.
The management board, which was recently named by H.E Nana Addo Dankwa Akufo-Addo, President of Ghana, following approval by the Council of State, was sworn in by Dr. Matthew Opoku Prempeh, Minister of Energy on the 7th of September, 2021. The Board is chaired by Awulae Annor Adjaye II, the President’s nominee to the Board. Others are Mr. Charles Owusu, C.E.O. of the PHDC; Mr. Kwame Asante Nsiah, Representative of the Free Zone Authority; Mr. Humphrey Ayim Darke, Representative of the Association of Ghana Industries; Mr. Senyo Kwasi Hosi, Representative of the Chamber of Bulk Oil Distributors. Also on the Board are Mr. Yaw Agyemang-Duah, an expert in the downstream Petroleum Industry; Mr. David Ampofo, Representative of Ghana Upstream Petroleum Chamber; Maame Ofewah Sarpong and Hon. Samuel Erickson Abakah, who the President also nominated.
The Board is expected to provide the advice and direction needed by the newly established institution to develop an integrated petroleum industry in the country, which experts estimate to be worth over USD 60 billion when fully activated. This is in line with the President’s vision for accelerated industrialization on the back of the country’s oil and gas resources.
This will enable Ghana to fully exploit its oil and gas resources and derive much greater values than it is currently doing. In addition, when completed, the hub will facilitate the manufacture of petroleum products such as plastics, fertilizers, and various industrial chemicals.
For its part, the Ghana Free Zones Authority is a public service institution designed to promote the processing and manufacturing of goods by establishing Export Processing Zones (EPZs). It is also mandated to encourage the development of commercial and service activities at sea and airport areas. The entity, GFZA was created by statute and came into being in 1996. The Ghana Free Zones Authority continues to focus on its mandate of supporting the Ghanaian industrial sector by licensing and working with companies focused on value addition, job creation, and export.
In their message to the Board of the PDHC, the CEO and management of the Authority expressed the confidence that, the two institutions will engage constructively in advancing their common aims of supporting the Ghanaian industrial sector.