HFC bank to make major investment in oil & gas in 2017

Managing Director of HFC Bank, Robert Le Hunt has told Citi Business News the bank will make substantial investment in Ghana’s oil and gas industry in 2017.

According to him, the industry holds the potential to empower efforts by government to increase local participation of Ghanaians in the sector. Speaking to Citi Business News, Mr. Le Hunte stated that the sector will also aid the bank’s projection of growth in 2017.

“We consider that particular sector one growth area and we think is also one area leveraging our relationship with Republic bank, our parent bank,” he said. He stated that the bank has made some projections in Ghana’s oil and gas industry for 2017, hence will participate in it to propel the growth of the bank.

He added that the move is also aimed at strengthening HFC bank’s relationship with its parent bank, the Republic bank which has made major investments in the oil and gas industry across the world.

Mr. Le Hunt was optimistic HFC bank will succeed in the industry as it particularly targets investment in local companies working in the oil and gas industry.

“We think that this is a particular area in which we have strength and we are looking forward to playing a significant role in 2017 especially in the local content financing for the oil and gas sector. So that is definitely one of the areas that we are looking forward to working with and grow it in 2017,”he said.

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