Fidel Amakye Owusu warns Ghana against risky energy agreements

Fidel Amakye Owusu, a security risk and geopolitics consultant, has advised the Ghanaian government to exercise extreme caution before entering into new energy agreements. He emphasized the necessity of conducting thorough, long-term risk assessments to avoid potential adverse consequences that often accompany large-scale foreign investments. Owusu noted that while massive capital injections can appear attractive on the surface, they often carry hidden burdens that require expert evaluation before commitments are made.

Owusu specifically highlighted the complex global geopolitical landscape, including ongoing United States sanctions against Russian oil companies, as a critical factor for Ghana to consider. He argued that the state must carefully weigh the perceived benefits of foreign investments against the substantial financial and operational risks posed by these international tensions. To protect the domestic economy, the consultant advocated for a policy of "resource nationalism," which focuses on ensuring that the extraction of natural resources leads to tangible local benefits, such as industrial growth and increased employment for Ghanaian citizens.

Beyond national policies, Owusu proposed that African nations should adopt a collective negotiation strategy when dealing with major global economies. He suggested that by bargaining as a unified bloc rather than as individual countries, African states could significantly enhance their leverage and secure more equitable terms. This approach, he argued, would help prevent the continent from being disadvantaged in high-stakes negotiations with global powers.

Finally, the consultant called for greater transparency and robust democratic oversight within the energy and oil sectors. Owusu stressed that maintaining rigorous accountability is essential to ensuring that all future investments serve the primary interests of the public. He concluded that Ghana must establish clear investment frameworks and prioritize citizen welfare to ensure that new energy partnerships contribute to the country’s sustainable development goals.