Prudential Bank Limited (PBL), an indigenous bank, has reaffirmed its commitment to supporting Ghana’s upstream oil and gas local‑content agenda at the 12th Local Content Conference and Exhibition, held in Takoradi.
Speaking on a panel titled “Innovative Financing to Promote E&P Investment: Unlocking Capital and Fostering Investor Confidence,” Group Head, Energy, Mining and Infrastructure at PBL, Stanley Seppey, said the Bank is ready to support industry players, particularly Indigenous Ghanaian Companies (IGCs).
“We are open for business. There are a number of financing opportunities out there that players can take advantage of,” he said. “As a Bank with a special focus on the indigenous businesses, we are ready to tailor solutions to fit the particular needs of the IGCs. Beyond financing, we are ready to support you all the way through,” he told the participants.
Aside from exploring the traditional debt capital markets, he urged players in the sector to adopt sustainable practices in order to attract financing from alternative funding sources, including renewable energy funding sources.
Mr. Seppey highlighted persistent barriers that hinder IGCs from accessing finance, including incomplete financial information, poor corporate governance structures, and a lack of requisite technical expertise.
“We urge SMEs in the sector to scale up to meet the specialised needs of the oil and gas industry. If you have capital but lack expertise, for instance, you will eventually be found wanting as the business grows, making it difficult to attract financing from banks,” he said.
He noted that Prudential Bank’s participation in the conference underscores its broader strategy of providing tailored financing solutions and advisory services to local contractors, service providers, and small‑to-medium scale businesses operating in Ghana’s oil and gas value chain.
The three‑day event, organised by the Petroleum Commission, was opened by the Minister of Energy and Green Transition, Dr. John Jinapor, under the theme “Revitalising Ghana’s Petroleum Exploration and Production Sector: Driving Innovation and Redefining Local Content for a Competitive Energy Economy.”
The conference attracted policymakers, industry leaders, investors, and service providers, all focused on shaping a more competitive and sustainable local‑content framework for Ghana’s oil and gas sector.
Prudential Bank’s participation as an Indigenous Ghanaian bank signals its readiness to play a more significant role in supporting the local content agenda of the Petroleum Commission.
