HFC Bank will on Monday, February 29 host a seminar to help educate its current and prospective customers on benefits to be derived from the existing local content legislation governing the Oil and Gas sector in Ghana.
The seminar is expected to be opened by the Minister of Petroleum, Emmanuel Armah Kofi Buah and also feature local and foreign experts in the Oil and Gas sector, who will provide insight into possibilities for small and medium-size companies to participate meaningfully in the Oil and Gas sector as a result of the local content legislation.
Various representatives from the Petroleum Commission and National Petroleum Agency will be participating in the seminar.
Republic Bank Limited (RBL), the parent institution of HFC Bank, played a significant role using similar circumstances to build the capacity of a number of local companies in Trinidad and Tobago, allowing them to participate in the Oil and Gas sector in the country.
Republic Bank also played an active role in the structuring of financial products to facilitate small and medium enterprises’ participation in the sector in Trinidad and Tobago.
Also participating in the seminar will be Mr. Robert Riley, the former president of BP-Trinidad and Tobago, who oversaw the multinational’s participation over a decade during a time of rapid expansion for the energy sector in that country.
Commenting on the seminar, Mr. Robert Le Hunte-Managing Director of HFC Bank, said that “Financial institutions are critical to the success of local content implementation, as they form the bridge via loans and other facilities to make the legislation a reality, and HFC Bank is positioned to play a facilitating role in that regard”.
HFC Bank is excited about the prospects of leveraging on the experience and good work of RBL in Trinidad and Tobago with a committed focus of duplicating and improving on that success in Ghana.
The major participants at the seminar will be HFC Bank customers and other stakeholders. The function will be held at Alisa Hotel from 9:00.am to 1:00pm.
Source: B&FT Online