Tullow Oil, Sunderland FC launch ‘Invest In Africa’ initiative
Tullow Oil in collaboration with UK-based Sunderland Football Club has launched a new business initiative dubbed “Invest in Africa” to attract and facilitate further investments in the continent.
The long term investment project is to develop local capacities, boost domestic job markets and stimulate economic growth.
Although the African continent is blessed with natural resources such as timber, minerals and crude oil, the continent is receiving less than 4 percent of foreign direct investment.
After experiencing a boom in its African operations, Tullow Oil is set to encourage other international organisations to take advantage of the enormous potentials on the continent.
Chief Executive of Tullow Oil, Aidan Heavy says their success should also bring growth for the local people and the economy. He was of the belief that Africa presented one of the best investment opportunities in the world today.
Football, a game loved by many people will be used as a spring board to promote and involve other businesses in the project. Premiership side, Sunderland will harness the powerful tool of football to drive investment in Africa.
Sunderland would use its television presence, football pitch and other outdoor opportunities to promote the Invest in Africa message, plus it also plans to touch base with local people in Africa and help young people develop their talents in both soccer and other career choices in the future.
Mr Heavy noted that the reason for bringing on board the UK football team was because research had shown that more than four billion people watch the English Premiership every week and that meant if Africa’s business opportunities could be brought to the attention of that huge number, substantial international investment would come the way of Africa.
The investment is expected to affect all sectors of the economy in Ghana and Africa at large. As the initial founding partner establishing invest in Africa, Tullow plans to secure 5 other partners to focus on Africa.
By: Kwadwo Tuffuor, e.tv Ghana
Accra, May 17, 2012
Government’s management of revenue generated from the country’s oil and gas resources will today come under intense scrutiny ... 