Fidel Amakye Owusu warns Ghana against risky new energy deals

Security risk advisor Fidel Amakye Owusu has cautioned Ghana against entering into new energy agreements without thoroughly evaluating potential long-term risks. He stated that large investment commitments could expose the country to challenges that exceed their immediate benefits. Owusu emphasized that while money may come as investment, it might not be as clean as desired, leading to negative consequences later.

He urged Ghana to weigh foreign investment against financial and operational risks, particularly with US sanctions on Russian oil companies affecting international commercial relationships. The consultant argued that Africa must strengthen its negotiating position and suggested that negotiating collectively rather than individually could yield better results.

He questioned whether Africa has done enough to build unity within the BRICS bloc and emphasized the need for the continent to integrate more effectively to negotiate on equal terms with larger economies. Owusu pointed out that Africa's 54 sovereign states and population of approximately 1.4 billion could provide significant bargaining power when united.

He highlighted the importance of resource nationalism, urging African countries to focus on maximizing benefits from their natural resources rather than through radical nationalization.