Event report
CCIFG Hosts Inaugural Local Content Discussion
Panelists highlighted the importance of innovation, entrepreneurship, & capacity-building to ensure Ghana remains competitive in the global market...
On Tuesday, November 26, 2024, the French Chamber of Commerce and Industry in Ghana (CCIFG) successfully held its highly anticipated Local Content Roundtable Discussion at ILONA Restaurant, Airport Residential, Accra. The event brought together industry leaders, regulators, and stakeholders from the petroleum, mining, and energy sectors to discuss the evolving landscape of local content regulations, challenges, and opportunities for enhancing local participation and value creation in Ghana.
The event served as a platform for open dialogue, with a distinguished panel of speakers, including:
- Mr. Martin Kwaku Ayisi, Chief Executive Officer of the Minerals Commission of Ghana.
- Mr. Kwaku Boateng, Director of Local Content at the Petroleum Commission.
- Ing. Maame Yaa Akowuah Tamakloe, Senior Officer, Local Content & Local Participation at the Energy Commission.
Moderated by Mr. Cephas Tettey Omenyo, Managing Attorney at Alexander & Partner, the discussion provided a comprehensive exploration of Ghana’s local content policies across the petroleum, mining, and energy sectors.
Key Highlights
1. Deep Dive into Local Content Policies
Speakers elaborated on key regulations such as the Petroleum (Local Content and Local Participation) Regulations (LI 2204) and its 2021 amendment (LI 2435), the Energy Commission (Local Content and Local Participation) Regulations, 2017 (LI 2354), and the Minerals and Mining (Local Content and Local Participation) Regulations. The session addressed the purpose of these policies, their implementation challenges, and their impact on Foreign Direct Investment (FDI) in Ghana.
2. Challenges and Opportunities
The discussions shed light on pressing challenges, including tax and regulatory compliance issues, the growing list of restricted services for foreign companies, and the difficulties in balancing foreign investment with local participation. Participants explored innovative approaches to fostering partnerships between indigenous and foreign companies and leveraging Ghana’s local talent pool to drive sustainable growth.
3. Engaging Q&A Session
The interactive Q&A segment allowed attendees to engage directly with the panel, posing critical questions about enforcement, the role of technology in advancing local content, and lessons from countries like Norway. Questions also touched on the regulatory focus on wholly indigenous companies and the need for a robust industrial and supplier base in Ghana.
In her opening and closing remarks, Ms. Maxine Reindorf-Partey, Managing Director of CCIFG, reiterated the importance of such discussions in bridging the gap between regulators and industry players. The session concluded with the need for continued collaboration among stakeholders to refine local content policies and achieve long-term sustainability.
The Local Content Roundtable Discussion reinforced CCIFG’s commitment to fostering dialogue on critical industry issues, empowering members with actionable insights, and enhancing collaboration between Ghanaian and international businesses.
As Ghana strengthens its local content regulations, platforms like these remain vital in navigating challenges, unlocking opportunities, and driving inclusive growth across key sectors.
