Ghana—Kosmos Innovation Center (KIC)

Client: Kosmos Energy

Duration: 2015-2017

Region: Sub-Saharan Africa

Country: Ghana

Solutions: Sustainable Business

To more sustainably invest in the social and economic development of the communities where it operates in Ghana, Kosmos Energy sought the expertise of DAI to offer new approaches to local engagement beyond tradition models of corporate social responsibility (CSR). DAI helped to design, launch, and implement the Kosmos Innovation Center (KIC) program to advance locally led, market-driven solutions to some of the country’s key challenges.

The KIC promotes innovation and youth employment by investing in, and facilitating the development of Ghanaian entrepreneurs and businesses, with a current focus on the agribusiness sector. The DAI team provides capacity building support, personnel recruitment and management, stakeholder engagement, investment due diligence, and ongoing technical assistance to the Kosmos Innovation Center.

Sample Activities

  • Collaborate with Kosmos Energy to design its flagship social investment program in Ghana, ensuring buy-in from internal stakeholders at the company as well as external stakeholders from the national government and other relevant institutions.

  • Provide seed funding, capacity building, and mentorship through innovation challenges to promote the development of promising local startup enterprises created by young entrepreneurs.

  • Provide technical support to an accelerator engaging small- and medium-sized enterprises in the agribusiness sector.

  • Host collaborative workshops that bring together experts in business, technology, finance, academia, and other fields to develop practical solutions to pressing social problems.

Select Results

  • Supported more than 100 young entrepreneurs in developing innovative, technology-driven agribusiness concepts for annual KIC challenge.

  • Improved confidence, teamwork, presentation abilities, critical thinking skills, and business acumen of more than 100 youth participants of innovation challenge workshops and mentorship program.

  • Supported innovation challenge that selected winners TroTro Tractor Limited and Ghalani Limited, each of which received $50,000 in seed funding and ongoing technical and mentoring assistance from the Meltwater Entrepreneurial School of Technology.

  • Contributed to Kosmos Energy being recognized as the CSR Extractive Company of the year for 2016 by the CSR Excellence Awards, and as Outstanding CSR company of 2016 by the Oil and Gas Awards.

x

RELATED CONTENT:

Ghana—Industrial Baseline and Economic Forecasting

In 2017, the Sustainable Business Group conducted an industrial baseline analysis of the Ghanaian offshore petroleum industry to assess the ability of local suppliers to service a specific upstream investment made by the client.

Read More