An indigenous Ghanaian company incorporated in April 2019, Quad Energy will lead a consortium partnering AGM as local partner in its oil and gas exploration and production activities offshore Ghana.
The consortium owns five per cent in the deal.
Mr David Adomakoh, a 100% shareholder of Quad Energy, announced this in a statement issued yesterday.
According to him, AGM invited him to form a consortium of established and robust Ghanaian businesses as its local partner, which has successfully been done.
Quad Energy by this “becomes a proud partner of AGM, a company that is genuinely intent on delivering substantial value to the people of Ghana through its activity in the country’s oil and gas sector”, he added.
According to him, he invited his nephew, Babatunde Ampah, to initially serve as second director of the company, adding that Mr Ampah holds no shareholding or any other beneficial interest in Quad Energy.
Mr David Adomakoh, an astute investment banker with nearly three decades of experience in executive management, is a 100% shareholder of Quad Energy.
He is also a non-executive board member for Aker Energy, Norway.
He has thus been invited by AGM to form a consortium of established and robust Ghanaian businesses as its local partner.
There were already discussions surrounding the real owners of Quad Energy, as this was not disclosed in the memo to Parliament during a consideration of the amended Petroleum Agreement for AGM Ghana Limited.
This has compelled the company to set the records straight.
Quad Energy Limited seeks to focus on developing itself as one of the growing number of long-term-oriented Ghanaian-owned businesses that continue to deepen the involvement of Ghanaians in the local oil and gas sector, said Mr Adomakoh.
David Adomakoh is the Chairman of Tiso Investment Holdings, an investment company that founded Tiso Group in South Africa in 2001.
Tiso Group merged with Kaisos Trust Investments in 2011, to establish Kagiso Tiso Holdings (KTH), a leading South African privately held investment holding company.
Mr Adomakoh serves as a non-executive director on the board of KTH.
He also currently serves as non-executive chairman of Tiso Blackstar Group, South Africa’s leading English-speaking full spectrum media group with media investments in Kenya and Ghana. He is currently a non-executive director of Aker Energy, Norway.
Mr Adomakoh continues to serve as a trustee of Tiso Foundation, a non-profit public benefit organisation he co-founded in 2002, which is focused on enabling future leaders through the development of skills and leadership.
He is also a World Fellow at The Duke of Edinburgh International Award.
Other positions held
Mr. Adomakoh was formerly head of Africa Corporate Finance for JP Morgan Chase, having previously been the head of Chase Manhattan Bank Southern Africa, and also an Executive Director of Robert Fleming Holdings South Africa.
Before moving to South Africa, he was a director in the Project Finance & Advisory Group at Chase Manhattan Limited in London.
He has served on a number of boards of leading companies across a range of industries over the past two decades, and was until 2017 a non-executive director of Nedbank Group and Nedbank Limited, Africa’s fourth largest bank.
He is a graduate of the London School of Economics and was awarded a Diplôme de Langue et de Civilisation at La Sorbonne, Université de Paris.
Mr Adomakoh believes in the vision of a robust and sure-footed Ghana, and seeks to play his part towards realising that latent potential.
He is married with three children.