(U) RUSSIAN BUSINESS PRESENCE IN GHANA

C O N F I D E N T I A L ACCRA 001035 SIPDIS E.O. 12958: DECL: 09/28/2019 TAGS: PINR BBSR ECON EINV GH SUBJECT: (U) RUSSIAN BUSINESS PRESENCE IN GHANA (C-CI9-01825) REF: STATE 88241 Classified By: Philip Cummings, Economic Chief, for reason 1.4 (C). ¶1. (C) Overt Russian economic activities, both private and parastatal, in Ghana are minimal, despite the 2007 discovery of large deposits of oil and gas in the Gulf of Guinea off the coast of Ghana. Russia's clout and visibility in this West African country remain low, despite the presence of numerous Ghanaian engineers who were sent to the Soviet Union for education and training in the 1970s and 1980s. The Russian Embassy is not active in the diplomatic community in Accra. ¶A. (U) There is one trade representative posted to the Russian Embassy in Accra. ¶B. (U) Lukoil Overseas Holding operates a joint venture oil exploration agreement with U.S. company Vanco. Russia's Technopromexport and Libya's African Investment Portfolio formed a company named Laptechno-Power to build and operate power plants, according to several media reports. ¶C. (U) Revenue from Russian companies is unknown. However, it appears to be marginal based on anecdotal evidence. ¶D. (U) Russian investment is focused on the oil and gas, and power generation sectors. ¶E. (U) The GOG does not actively promote Russian investment but neither does it discourage such investment. There was one unconfirmed media report that Russian tourism is on the rise very recently in conjunction with a GOG tourism promotion campaign aimed at travel writers from a wide number of countries globally, and not outreach to Russia specifically. ¶F. (U) The number of Russian citizens residing in Ghana is unknown to Post. However, the Consular Section reports that they have only received 62 applications for NIVs to the U.S. from Russian citizens in the past ten years, which backs up a general impression in Ghana that there are few Russian citizens resident in the country. FURUTA-TOY FURUTA-TOY