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Business News of Thursday, 23 January 2014

Source: GNA

Trade Ministry, PYXERA Global sign MoU

The Ministry of Trade and Industry on Wednesday formalized a working relationship with PYXERA Global, a partnership that was sealed with the signing of a Memorandum of Understanding in Accra.

The Ghana Supply Chain Development Program will enable collaboration towards increasing the participation of local small and medium sized enterprises in the supply chains of international oil companies operating in Ghana.

A release from the Public Affairs section of the United States (US) Embassy in Accra and copied to the Ghana News Agency, said earlier in 2013, USAID awarded a 5-year $ 4.9 million grant to PYXERA Global to implement the program in the Western Region of Ghana.

It said 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.

In his remarks, 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.