Ghanaian oil production happens offshore, but its logistical base is the port city of Takoradi. Destree points out that its deep-water port was built in 1928 to export mineral wealth from the interior. Now Takoradi is expanding its harbour and services to become West Africa’s primary logistics base for the oil industry.
Like other new oil producers, Ghana is upskilling its economy by implementing regulations to increase local ownership and expertise. Destree says: “Springfield, a Ghanaian company, has just become the first indigenous company to strike oil in the region. This has been termed a ‘moment of pride’ for the country by CEO Kevin Okyere.”
Destree says that Ghanaian thinking about oil has “a sense of urgency,” driven by the need to ensure that oil money benefits the nation before oil becomes obsolete. “Ghanaian politicians and policymakers want the income from oil to benefit skills, education and agriculture,” she adds.
But in recent years, the country has struggled with unreliable electricity supply and overcapacity. With very real challenges facing the energy sector, international calls for decarbonisation and climate mitigation often fail to take into account low-carbon countries’ own priorities and agendas.