SMEs in Ghana’s oil industry get a big boost

Small business25 January 2014, Accra – The PYXERA Global, an international NGO that leverages public, private, and volunteer resources to strengthen businesses, institutions, and governments in emerging markets in 70 countries on five continents, has formalized a working relationship with Ghana’s Ministry of Trade and Industry following a signing of Memorandum of Understanding, MoU, in Accra.

The $5 million MoU would see the US-based NGO to build the capacity of Small and Medium scale Enterprises, SMEs, within the Ghanaian oil and gas industry.

According to the parties in the deal, the Ghana Supply Chain Development Programme would enable collaboration towards increasing the participation of local SMEs in the supply chains of international oil companies operating in Ghana.

In his remarks at the signing ceremony, U.S. Ambassador to Ghana, Gene Cretz, noted that, “Today’s Memorandum of Understanding signing is a visible demonstration of the U.S. commitment to ensuring that Ghanaian businesses have the expertise and support needed to bid for and, most importantly, win procurements in the oil and gas sector in Ghana.

“There can be no clearer example of our strongly-held view that local content is a worthy goal and can be mutually beneficial when there is a cooperative process of consultation and shared understandin”, Ambassador Cretz said.

For the Minister of Trade and Industry, Haruna Iddrisu, the agreement is in line with government’s decision to enhance local content.

The Public Affairs section of the United States (US) Embassy in Accra, explained in a press released that in 2013, USAID awarded the grant to PYXERA Global to implement the programme in the Western Region of Ghana.

It was quick to add that the programme which is based in Takoradi seeks to increase sustainable participation of Ghanaian small businesses in oil and gas procurements.

“The program strives to increase capacity of local business service providers relating to sector procurement regulations and standards; create market linkages between the oil and gas sector; and collaborate closely with the Enterprise Development Center to facilitate the sustainable provision of business development services”, the release explained.
*Masahudu Ankiilu Kunateh – The Chronicle

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