The former CEO of the EO Group, George Yaw Owusu, has emphasized the importance of including reputable experts to revitalize Ghana’s oil and gas sector. Owusu, who currently serves as the CEO of Mansa Holdings, highlighted the existing lack of professionals in the sector, which he believes is deterring much-needed foreign investments.
“Having individuals who lack a deep understanding of the industry manage it is a significant challenge. This discourages countries from exploring opportunities here,” Owusu remarked.
He stressed the substantial financial investment required for drilling wells, noting that legal disputes could deter potential investors. Speaking at an event organized by the Centre for Business Development (CBD) at the Kwame Nkrumah University of Science and Technology (KNUST), Owusu shared insights from his own career challenges.
He advised aspiring entrepreneurs to prioritize honesty to avoid potential political hurdles. “Transparency in business dealings is crucial for avoiding unnecessary conflicts with politicians,” Owusu advised.
He also emphasized the importance of trusting business partners rather than merely liking them. The CBD, established in 2011 with support from Airtel Tigo Ghana, and Technip, plays a vital role in nurturing small and emerging businesses.
It provides a platform for teaching, research, and entrepreneurship training in science and technology, aimed at fostering industrial and socioeconomic development in Ghana, Africa, and beyond.
Under the leadership of the Head of CBD, Dr. Samuel Akomea, the centre focuses on enhancing entrepreneurship education and bridging the gap between academia and industry. The Entrepreneurship Clinic, one of its flagship programs, offers practical support and guidance to student entrepreneurs.
Dr. Akomea encouraged student entrepreneurs to seek advice from the centre before entering into business agreements, especially when uncertain. He emphasized the importance of focusing on the technical aspects of their products during pitching competitions to enhance their chances of success.