U.K ANGOLA GHANA
NEWS
June 6, 2019
Tullow moves to bridge access to finance gap for SMEs
Tullow Ghana Limited (TGL) has begun a series of engagements aimed at bridging the access to finance gap to ensure effective participation of local suppliers in the petroleum industry.

The first of the series, which brought together seven financial institutions and local suppliers on June 4 was to help the suppliers idenifty and find solutions to the challenge presented by the lack of finance.

The Director of External Affairs, Social Performance and Local Content at TGL, Ms Cynthia Lumor explained that access to finance has been identified as a major challenge facing indigenous companies in the oil industry in Ghana.

She noted that the country has been producing for almost 12 and half years now but the oil and gas industry is still very new by any comparison.

Speaking at the seminar on “Access to Finance” for about 215 indigenous companies, she noted that looking at the different components of the industry, supplier development was a big part because when the suppliers grow, their businesses grow, jobs are created and there is more revenue for government in terms of taxes.
Source: GraphicOnline

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