Accra, Ghana, November 1, 2018//-Kosmos Energy, a leading independent oil and gas exploration and production company in Ghana and beyond, has invested over $4 billion in exploration and development of Ghana’s offshore oil and gas resources for the past 14 years.
The company which led a team of explorers to discover oil and gas in commercial quantities in deep waters of Ghana in 2007 named as Jubilee Field and lately Tweneboa, Enyenra, Ntomme (TEN) fields, expressed its commitment to the development of the West African country.
Kosmos Energy Vice President and Country Manager for Ghana, Joe Mensah who revealed this at Kosmos Innovation Center (KIC) 2018 Agritech Challenge Investment awards ceremony in Accra, said since 2004, the company had provided several social interventions, through its 24.1% share of total contributions to all projects carried out under the banner of the Jubilee and TEN social intervention projects.
He added that; “we have provided several standalone projects, one of which is a key innovative project: establishing small town water projects from 2012 to date.
These projects have created economic opportunities, employment and provided health benefits to over 300,000 beneficiaries in 43 different towns and villages across five regions in Ghana, namely the Greater Accra, Western, Central, Eastern, and Ashanti”.
“Yet still 10 years into our existence in Ghana, again, we embarked on another which has allowed us to explore areas other companies will think is too risky compared with potential rewards and that is to invest in Ghana Beyond Oil and Gas”, Mr Mensah said.
According to him, the company’s decision to establish the Kosmos Innovation Center is to significantly intensify the impact of Ghana’s petroleum revenues on the country’s local citizenry and to deepen the development impact on the people of Ghana.
Mr Mensah said: “Today, the Kosmos Innovation Center is redefining the nature and scope of corporate social responsibility in Ghana and indeed re-inventing the way corporate Ghana meets its responsibilities to its host communities and the wider Ghanaian society”.
In this regard, the KIC is a paradigm shift which is creating a new breed of youth entrepreneurs who will significantly contribute to accelerate Ghanaians economic growth, create wealth and positively impact on thousands, perhaps millions of lives.
Just as importantly, the KIC, according to Mr Mensah would reshape the youth’s perceptions and their interest in participating in traditional sector development through innovation.
He was quick to add: “Kosmos is confident we have hit the right cord with the KIC proramme considering the strides we have made to date.
In two years and eight months, the KIC has trained over 350 young people, launched 17 new AgriTech startups, and driven over $1 million external co-investment in Ghana since 2016”.
In September this year, KIC was recognized by the Concordia P3 impact award organizers as a program which has the potential to revolutionize youth support and interest in national development issues.
In a keynote address, an investment banker, Ms Abena Amoah noted: “Government and the private sector need to plan today for how to actively engage this young population and equip them to be problem-solving, opportunity-enhancing entrepreneurs”.
“The Kosmos Innovation Center has risen to this challenge, and proof of the success of this model, is the other private sector organizations willing to partner with Kosmos to develop, coach and nurture more Ghanaian youth into entrepreneurs”, she stated.
The Director of KIC Program, George Sarpong said: “KIC continues to get better and better, we have listened to feedbacks and making improvements”.
The company would also launch the new KIC brand to reflect the global nature of the program, he added.
African Eye Report
