GFZA congratulates newly constituted Petroleum Hub Development board

GFZA congratulates newly constituted Petroleum Hub Development board

Management of the Ghana Free Zones Authority (GFZA) have extended their congratulations to the newly appointed board of the Petroleum Hub Development Corporation (PHDC).

C.E.O. of GFZA, Amb. Michael A.N.N.Y Oquaye, expressed the hope of seeing the two institutions working closely together to advance Ghana’s development goals.

He also extended special congratulations to Mr. Kwame Asante Nsiah, the GFZA representative on the PHDC’s governing Board.

Amb. Michael A.N.N.Y Oquaye and management of the GFZA expressed the confidence that, the two institutions will engage constructively in advancing their common aims of supporting the Ghanaian industrial sector.

The management board, recently named by President Nana Addo Dankwa Akufo-Addo following approval by the Council of State, has been sworn in by Dr. Matthew Opoku Prempeh, the Minister of Energy.

The Board is chaired by Awulae Annor Adjaye II, the President’s nominee to the Board. Others are Mr. Charles Owusu, C.E.O. of the PHDC; Mr. Kwame Asante Nsiah, Representative of the Free Zone Authority; Mr. Humphrey Ayim Darke, Representative of the Association of Ghana Industries; Mr. Senyo Kwasi Hosi, Representative of the Chamber of Bulk Oil Distributors. Also on the Board are Mr. Yaw Agyemang-Duah, an expert in the downstream Petroleum Industry; Mr. David Ampofo, Representative of Ghana Upstream Petroleum Chamber; Maame Ofewah Sarpong and Hon. Samuel Erickson Abakah, who the President also nominated.

The Board is expected to provide the advice and direction needed by the newly established institution to develop an integrated petroleum industry in the country, which experts estimate to be worth over US$60 billion when fully activated. This is in line with the President’s vision for accelerated industrialization on the back of the country’s oil and gas resources.

This will enable Ghana to fully exploit its oil and gas resources and derive much greater values than it is currently doing. In addition, when completed, the hub will facilitate the manufacture of petroleum products such as plastics, fertilizers, and various industrial chemicals.

About GFZA

The Ghana Free Zones Authority is a public service institution designed to promote the processing and manufacturing of goods through the establishment of Export Processing Zones (EPZs). It is also mandated to encourage the development of commercial and service activities at sea and airport areas.

The entity, GFZA was created by statute and came into being in 1996. The Authority continues to focus on its mandate of supporting the Ghanaian industrial sector by licensing and working with companies focused on value addition, job creation and export.


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