Keep multinationals out of Ghana

Dr. Isaac Amo-Antwi, a Takoradi based Social Worker and economics expert has cautioned that it is dangerous for multinational oil companies to be allowed to enter the downstream sector of Ghana’s oil industry. He said there were various levels in the chain of operations in the oil marketing business. “Multinationals feed the Bulk Distributing Companies (BDCs) and the BDCs feed the Oil Marketing Companies (OMCs). So for multinationals to run the whole chain is dangerous and sets the ground for controlling the market”. He noted that most African countries are moving away from what he termed ‘vertical integration’ in the downstream sector, and questioned why Ghana was embracing it, he said: “The danger is that indigenous OMCs will die off, after succeeding in taking over the downstream from the local companies; then we will see the real character of multinationals”. He added that there was a need to protect local OMCs as the multinationals will use a price war to knock-out the indigenous companies