We have experience in oil industry – Shah

The Managing Director of Stanchart Ghana Limited, Mr. Hemen Shah, says the bank has considerable experience in the oil industry, which it can bring into the sector in Ghana.

Mr. Shah told a Joy Business News bulletin monitored by ghanabusinessnews.com that the bank has oil and gas specialization and therefore the bank is in the position to add value to the emerging gas and oil industry in Ghana.

“We have a group of people who focus on that,” he said.

He said the bank has been involved in oil and gas transactions in many countries including Nigeria and countries of the Middle East, and therefore, the bank is well positioned to service the oil industry in Ghana.

Mr. Shah said, the bank would bring to the table the international experience and expertise it had gained in the oil and gas industry similar to that of Ghana.

He added that the bank will “add tremendous value to the sector, and we are doing all we can to make it a top priority.”

Large quantities of oil and gas has been discovered in Ghana in commercial quantities,  making the country the latest African country to join oil and gas producing economies of the world.

However, the country would only begin to realize revenue from the discovery in 2010.

By Emmanuel K. Dogbevi