Fidel Amakye Owusu, a security risk and geopolitics consultant, has cautioned the Ghanaian government against entering new energy agreements without a thorough assessment of long-term risks. In an interview reported by MyJoyOnline, Owusu, who leads DefSEC Analytics Africa Ltd., argued that large investment commitments often carry hidden challenges that can outweigh their immediate financial benefits. He emphasized that while foreign capital is essential, the provenance and stability of the investor must be carefully vetted to avoid future operational difficulties.
Owusu highlighted the impact of US sanctions on Russian oil companies, specifically noting the designation of Lukoil and Rosneft by the US Treasury in October 2025. Lukoil Overseas Ghana Limited currently holds a 38 per cent stake in the Deepwater Tano Cape Three Points block, alongside Pecan Energies, the Ghana National Petroleum Corporation, and Fueltrade Exploration and Production Limited. According to MyJoyOnline, Owusu suggested that Ghana should distinguish between existing signed agreements and potential new commitments, urging pragmatism in upholding the sanctity of current deals while protecting national interests during any renegotiations.
The consultant further argued that African countries often perpetuate their unequal position in the global economic system by engaging with powerful economies individually. He proposed that the continent should leverage its collective weight, citing the 54 sovereign states and a population of approximately 1.4 billion as sources of significant bargaining power. Owusu questioned why African nations have not integrated sufficiently to join international groupings like BRICS as a single continental entity rather than as separate states, which he believed would enhance their negotiating leverage against established powers such as China, India, and Russia.
Beyond geopolitical considerations, Owusu stressed the importance of resource nationalism, which he defined as maximizing the economic benefits derived from natural resources rather than simply nationalizing them. He advised that Ghana should ensure foreign investment leads to local employment, skills development, and stronger domestic industries. By maintaining democratic oversight and transparency in the oil sector, authorities can identify investments with inherent long-term risks and make informed decisions before commitments are finalized, ensuring that Ghana’s natural resources provide lasting value to the domestic economy.