Can you provide us with an overview of what Matthews Consult does?

Certainly. At Matthews Consult, we offer support and advisory services to companies seeking to invest in Ghana’s oil industry. We help guide our clients through the entire process, from acquiring land to arranging accommodation and transportation. However, due to the industry’s relative immaturity and the fact that most international companies already have their operations set up before coming to Ghana, the demand for our services is currently low. It’s also worth noting that we focus exclusively on serving corporate needs and do not work with individual investors.

What is your opinion of the regulatory framework for foreign companies in Ghana?

Unfortunately, there isn’t much of a regulatory framework in place for foreign companies operating in Ghana. Many of these companies come, work offshore, and then leave with our resources without giving anything back to the society or government. This situation is a concern because the average Ghanaian doesn’t benefit from these operations. It’s also worth noting that the government hasn’t taken any significant action to stop this process, even though Nigeria experienced a similar situation that caused public outrage, but the changes that took place were minimal.

Ghana has had a very stable political history over the past four years. What do you think will be the outcome of the upcoming elections?

Ghana has a long and proud history of being a democratic country, and this is largely due to the peaceful and democratic mindset of the Ghanaian society. While many people are expecting drastic economic changes, I believe this won’t happen due to the specific and straightforward culture of the Ghanaian society. Although Ghana has experienced difficult periods, we’ve learned valuable lessons that help us in the development of the industry and the overall economy. I also believe that Ghana is ahead of South Africa in terms of democracy.

What do you think the development of the oil industry will have on Ghana?

The discovery of oil in Ghana has been a real blessing for the country. Although it will take some time before the country starts to benefit from this newly discovered resource, I’m confident that the effect will be overwhelmingly positive. If we use this discovery wisely, we can build a stable electricity network, improve schools and build new ones, put money into the health system, and more. All of these improvements could have a direct effect on Ghana’s economy and make it more attractive to foreign investors. In my opinion, the oil industry here has a lot of potential, and it will grow beyond what experts are currently estimating.