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Govt studying Exxon-Kosmos deal

Comment: OBOURBA

Author:
MKO
Date:
2009-10-08 13:38:24
Comment to:
to:MKO


Obourba,
You are absolutely right. The main reason why they form consortia is to spread RISKS so that one company (or financing entity) does not absorb all the losses if things go wrong. And they usually cite political and economic instability as why they do this, however ironically it is usually they and their governments who create the instability in the foreign land.

The fact is you can not substitute China for UK or Germany for India ...they will all Shaft You! You have to develop your own. So we should not be jealous of our successful local brethren, so far as they are not flouting local laws, spending their money locally, creating jobs or giving others opportunity

The only way we can deal with these foreign companies is to
1. have "dedicated" sons and daughters of Ghana who are committed to doing good for the mother country.
2. To beat them you have to play them! - This complex ...will leave it for now
3. When giving out contracts for project do not give out all. Hold some back for exclusive local development. Eg. I understand that virtually all oil exploration licenses have already been sold. if this true, it is wrong. In other words there nothing for potentially innovative local entrepreneurs now or in the future - unless the go to a foreign company to be given the right to operate in their own country, or wait till the expiry of the mandates being held by these foreign entities.

4. Tap into the expertise of those in the diaspora. If such people are of the right mentality and PRACTICAL experience, the could be invaluable as they have and understand the emotional intelligence to "play to win". However the wrong types may cause even more harm than good.

5. Education: Current thinking, and advances in economics, finance, banking, technology etc. We should learn to give our youth the appropriate education and push them into responsible leadership positions very early on. World affairs I think are moving so fast - to the extent that what we learn today seems to have a limited "Use by date"
I look forward to the day when a Bank of Ghana Governor who at his/her age of say 37 has been an academic, worked in international finance, the bond markets, capital markets, derivatives etc

Old age does not necessarily equal knowledge or competence

This article is closed for comments.

10-08 04:51
 
 
 
 
 
 
 
OBOURBA
MKO
10-08 13:38
JAH-jerry >>>>>>>>>>>>>>>>>>>>
10-08 09:05