Oil refinery deal

This is a long read. The short version is as follows. Two sectors of Ghana’s economy are specifically identified in the country’s recent IMF program for critical attention because of their contribution to the country’s debt debacle: energy and cocoa. The story of Tema Oil Refinery exemplifies what has gone wrong with Ghana’s energy sector. Tema Oil Refinery has big problems that require hundreds of millions of dollars and sophisticated investors to fix. Such money and investors will not come unless the country’s leaders are genuinely interested in an above-board transaction, and are willing to spend the taxes they have…