RAPIDLY SHRINKING

Ghana 2018 | ENERGY | COLUMN

TBY talks to William Tewiah, CEO, ZEN Petroleum, on the sector.

William Tewiah

What have been the major highlights in your eight years of operations?

Today we are the largest supplier to mines in the country and have expanded into Mali as well, where we have two mining sites. We are ISO certified in three categories and employ over 200 people in both Ghana and Mali. We also set up in the Ivory Coast and are operational in Burkina Faso. For Ghana, we seek to expand significantly into retail in the coming years. We have one eye on listing the company on the stock exchange around 2020 if the conditions are right and if our customer base is diversified enough.

What policies would you like to see from the public side on developing local content?

The downstream sector is close to a USD4 billion sector. Currently, local companies have about 70% market share and that market share has been rapidly shrinking since the new regulation. If measures are not put in place soon, multinationals will increase their market share.