Former CEO of the EO Group, George Yaw Owusu believes Ghana’s oil and gas sector can be revamped with the inclusion of reputable experts.

The CEO of Mansa Holdings observes the dearth of professionals in the sector is not attracting the needed foreign investments.

“We have people who don’t understand the business running the business. Because of that, countries are not coming here anymore to explore.

“When you drill one well it is between 50 to 100 million dollars. If somebody is bringing that kind of money to invest in Ghana and he comes and you take him to court, do you think others will come?” he quizzed.

The event was organized by the Centre for Business Development (CBD) of the Kwame Nkrumah University of Science and Technology (KNUST).

Recounting how he surmounted difficulties in his career, Mr Owusu advised would-be entrepreneurs to uphold honesty to fend off political witch-hunt.

“Be honest in all your dealings and you’ll never have problems with politicians,” he stressed.

He added: “Don’t do business with people you like. Do business with people you trust.”

The CBD provides an environment for teaching, research and entrepreneurship training in Science and Technology for the industrial and socioeconomic development of Ghana, Africa and other nations.

The CBD was established in 2011 with the support of AirtelTigo Ghana and Technip to assist and nurture the growth of small and emerging business.

It seeks to enhance existing measures and adapt new strategies such as practical teaching of entrepreneurship across all disciplines, establishment of a business incubator, straightening the various on-campus production units as well as fundraising to bridge the gap between the academia and industries whilst equipping students with hands-on skills and training to develop their capabilities to the highest potential, and to contribute effectively to society and achieve personal fulfillment.

The Entrepreneurship Clinic is one of the flagship programmes by the centre.

Head of CBD, Dr Samuel Akomea, urged student entrepreneurs to consult the centre before entering into agreement with business entities.

“When you want to go into agreement with somebody and you’re in doubt, come and talk to us,” he said.

He urged them to take out the technical aspects of their products at pitching competitions.