It appears as though Ghana will retain 38% of its domestic oil revenue, an advisor to the Ministry of Finance and Economic Planning, Dr. Joe Amoako-Tuffuor has stated, quoting a Daily Graphic report from March 6, 2010.

The newspaper cited a recent presentation Amoako-Tuffuor  made, wherein he noted that Ghana will earn from direct and indirect sources such as royalties, corporate income tax, dividends, additional income tax, surface rental and carried interest.

Since the discovery of oil in commercial quantity was announced in Ghana in 2007, many Ghanaians have focused on how much money the nation will make. One estimate even approximated that every citizen will get 17 pesewas when the amount is shared among all Ghanaians.

With the country’s current GDP at well over $18 billion, Dr Oteng-Adjei said the total revenue to the government and the Ghana National Petroleum Corporation (GNPC) in respect of royalties, income tax and interest payment on oil and gas exploration would be $1 billion per annum, at an average crude oil price of $60 per barrel.

And thats not all - the Chairman and Chief Executive Officer of Edmark International, Mr. Sam Low Ban Chai has indicated that Ghana abounds in huge investment opportunities which could be explored by all potential investors.

According to Mr. Low, Edmark International is poised to use Ghana as platform and a gateway to Africa, to help create wealth among the people in the region.

The CEO of Edmark International was speaking at a press launch of the company’s products, as well as its first International convention dubbed “One Edmark, One Africa”, in Accra last Friday.

Mr. Low noted that the people of Ghana have demonstrated that if given the opportunity they can turn things around. He said that his company would complement efforts at creating equal opportunity for everyone to explore. He disclosed the company’s city project, which is aimed at expanding the operational base of the company in the country.

The General Manager of Edmark Ghana, Hajj Awal, observed that the company is making head way on the Ghanaian market due to the positive attitude being exhibited by the staff and distributors.

Though we must monitor governance in this newfound economic climate with an acute microscope, it is clear that there is incredible potential for free enterprise to flourish throughout Africa, if governance takes steps towards transparency similar to that of Ghana.