Pioneering the Petroleum Hub project for Ghana’s Economic Growth

Ghana’s ambitious Petroleum Hub Project, an initiative of His Excellency President Nana Addo Dankwa Akufo-Addo, continues to take significant steps toward transforming the nation’s petroleum downstream sector into a modern, diversified, and financially sustainable “energy economy.”

The Petroleum Hub is expected to ensure that all homes and industries in Ghana have access to reliable, affordable, and environmentally sustainable energy supply, while creating 780,000 direct and indirect jobs for Ghanaians.

To ensure the success of this landmark project, the Petroleum Hub Development Corporation (PHDC) is actively engaged in workforce development, preparing Ghanaians to meet the opportunities that will emerge from the Petroleum Hub.

As part of this effort, Charles Owusu Esq., FCA, CEO of the PHDC, undertook a historic three-day working visit to Las Palmas, Canary Islands in Spain, where he met with some strategic international partners to enhance the capacity of Ghana’s workforce and strengthen technical collaboration for the Petroleum Hub.

During his visit, Owusu worked closely with key stakeholders, including Canary Consulting & Trading (CCT), Aurum Global Partners (AGP), the University of Las Palmas, and having realised the importance of such engagements, these three key institutions were instrumental in facilitating the signing of the cooperation agreement and funding framework between the FINNOVA Foundation a regional based sustainable development organization that support EU Funding for Africa and PHDC.

The framework includes Sustainable Energy and Innovation, Sustainable Housing and Sustainable Tourism and Agriculture. The agreement between both parties was signed Monday, 4 November at the Foreign Affairs Office of Casa África, Spain.

The president of Casa Africa, José Segura Clavell at the signing ceremony emphasised that, their expertise in sustainable industry, maritime logistics, and sustainable development cannot be underestimated especially with the port of las Palmas as a strategic inter port connection between Africa, Europe and Latin America.

He believes that the mission for the visit and cooperation will foster partnerships that will help build the technical, managerial, and operational capabilities needed for the success of the West Africa based Ghana’s Petroleum Hub.
Owusu commended the Canary Islands Government for their substantial investments in maritime and port infrastructure, particularly the Port de Las Palmas, which serves as a vital trade and innovation hub.

“We are looking to replicate the success of the Canary Islands by positioning Ghana’s Jomoro Port as the key maritime hub for West Africa and the entire African continent,” said Owusu.

He thanked Dr Steven Blessing Ackah and Isidoro Lopez for making the collaboration with the Port de Las Palmas possible, saying it will help enhance the capacity of the Jomoro Port, reduce transportation costs, and ensure that Ghana becomes the premier investment destination for the petroleum industry in Africa.”

On the 6 November, which was day two of the visit, he toured the Port de Las Palmas, and explored the world-class shipyard and maritime facilities, discussing opportunities for technical assistance to help develop the Jomoro Port to meet global standards.

On the final day, Owusu held a series of important meetings with leading institutions in Las Palmas, including the University of Las Palmas de Gran Canaria (ULPGC), a recognized centre for sustainable development and maritime innovation.

The discussions centred around potential collaborative opportunities in maritime technology and infrastructure, specifically aimed at enhancing the development of Jomoro Port.

The CEO of PHDC also met with the ICT Cluster of Companies, a consortium of leading tech firms specializing in digital transformation and maritime logistics, to explore how innovative ICT solutions could help streamline operations at Jomoro Port, improving efficiency in goods handling and logistics.

Additionally, Owusu engaged with TIDES, a research institution focused on sustainable tourism and environmental protection, to discuss ways in which the development of Jomoro Port could align with global sustainability standards.

In further discussions with PORMAR, a prominent port and maritime organization, Owusu solidified the ongoing partnership between PHDC and the Canary Islands in advancing Ghana’s vision of becoming a global logistics and energy hub.

Owusu said the Petroleum Hub Development is poised to create a transformative impact on Ghana’s economy. “With our continued international partnerships and strategic investments, we are laying the foundation for a world-class energy economy that will serve not only Ghana but the entire African continent and beyond.” he
noted.

The Petroleum Hub Development, a US$60 billion project occupying 20,000 acres of land along the coastline, represents one of the largest infrastructure projects in Africa.

In August 2024, the Government of Ghana signed a landmark US$12 billion agreement with the TCP-UIC Consortium, comprising Touchstone Capital Group Holdings Ltd., UIC Energy Ghana Ltd., and China Wuhan Engineering Co.

This agreement is expected to significantly accelerate the development of phase 1 of the Petroleum Hub, creating long-term economic growth and employment opportunities for Ghanaians.

On Friday 8 November, the PHDC also Pitched Ghana’s Jomoro Petroleum Hub at the Super Investor Forum in Monaco. It was under the high patronage of His Serene Highness Prince Albert II of Monaco, at the Super Investor Forum which took place on November 8th, 2024, at the prestigious Grimaldi Forum in Monaco.

The Monaco Ghana Business Council invited Petroleum Hub Development Corporation (PHDC), to participate in the Hub Development Pitch with 22 companies to echo the importance of Ghana’s Petroleum Hub in investor relations and fostering long-term sustainable development in Ghana.

The event brought together top global investors, government officials, and leading business leaders to discuss key sectors including energy, innovation, and sustainable development. It also provided a strategic platform for PHDC to engage with key stakeholders and showcase Ghana’s growing potential as a global energy and logistics hub.

The Petroleum Hub is indeed Africa’s energy future.

‘‘We are the Petroleum Hub of choice, Connecting resources, creating opportunities for Africa.

About the PHDC

The Petroleum Hub Development Corporation (PHDC) is responsible for the strategic planning, development, and operational management of the Petroleum Hub in Ghana. The hub project aims to position Ghana as the leading downstream petroleum and logistics hub in West Africa, driving economic growth, job creation, and energy sustainability across the continue.

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