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Saturday, August 27, 2022
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Ghana to host largest international petroleum conference
Dr. Mustapha Abdul-Hamid
West Africa industry leaders, experts, and decision makers in the petroleum downstream industry are gearing up for what is anticipated to be the largest Ghana International Petroleum Conference (GhipCon) yet as organizers reveal another milestone for the West Africa’s most influential oil and gas event.
The conference which is been organized by the National Petroleum Authority (NPA) in collaboration with the African Refiners and Distributors Association (ARDA) and under the auspices of the Ministry of Energy and the Ghana Chamber of Bulk Oil Distributors (CBOD), will take place at the Kempinski Hotel Gold Coast City, Accra from the 28th -30th September 2022.
Ghana’s Vice President Dr. Alhaji Mahamudu Bawumia is expected to deliver a keynote address at this year’s conference dubbed; “Energy Transition in the African Petroleum Downstream Context: Prospects, Challenges and the Way Forward”.
The conference is designed to actively bring to the fore, the downstream petroleum industry’s perspective and guidance on issues of Energy Transition and how government policy and regulatory framework could drive the Transition process.
It also highlights best practices for the advancement of the industry, not only in Ghana but across the West African sub region and beyond.
For the first time, the conference will have a regulator's workshop on the third of this conference. The workshop is expected to share best practices amongst ECOWAS regulators in Senegal, Mali, Burkina Faso, Nigeria, Cote D’Ivoire and Togo and other key stakeholders on progress made thus far on adoption of the mandated AFRI-5 (50-ppm Sulphur) Fuel Specifications and promote collaboration on the implementation going forward.
Panelists would discuss issues of governmental and regulatory policy, and best practices for the advancement of the industry.
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Sunday, August 7, 2022
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Friday, July 29, 2022
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Good news for agribusiness and commodity trading in Africa; US$2 billion secured
AfCFTA Practitioners.png
The personalities who signed the MOU
A trade practitioner and AfCFTA expert, Louis Yaw Afful has called on startups in commodity trading and agribusiness to look into and take up the opportunity a recent US$2-billion-dollar credit facility presents.
This comes on the back of reports that the African Continental Free Trade Area (AfCFTA) Secretariat, Afreximbank and World Food Programme (WFP) have signed a three-year memorandum of understanding (MoU) to disburse US$2 billion in farming loans and credit lines for agro-processors and commodity traders by 2025 through Afreximbank lending instruments and blended finance facilities in support of AfCFTA Agreement and in contribution to addressing food security on the continent.
The MoU seeks to promote the commercial development of smallholder agriculture and facilitate intra-regional agricultural trade initiatives, advance climate change mitigation and adaptation of smallholder agriculture and related value chains.
As part of the financing component, Afreximbank will deploy adequate financing, lines of credit, supply chain financing, and guarantees, among others, to support smallholder productive activities including the development of post-harvest storage facilities, and agro-processing and trade in commodities and value-added products.
Further, Afreximbank will support the development of industrial projects, including export-oriented agricultural hubs and Special Economic Zones (SEZs), to support value addition in smallholder agricultural chains.
According to Louis Yaw Afful, the Director of the AfCFTA Policy Network (APN) Group, this is a good initiative by the AfCFTA Secretariat, as “commodity trading is one of the best routes of becoming wealthy. Agribusiness is what will drive Africa at the moment because our value chains are all concentrated on Agribusiness.”
He said it was wise for the AfCFTA Secretariat to initiate this investment into agribusiness to serve as the linkage to manufacturing industries.
Speaking on the Eye on Port program, the expert reiterated that commodity trading will be an enabler of AfCFTA’s success.
“Commodity traders are those who trade in volumes. One commodity alone can be shipped by three different ships. Without them they will be disruptions in the supply chain,” he expressed.
The Executive Director of the APN Group also revealed that the AfCFTA Secretariat is also trying to secure 1 billion dollars to support Africa’s automotive industry.
He explained that this facility “will focus explicitly on African companies where the shareholder structure is African.”
Mr. Afful noted that this will not only favor vehicle manufacturing but also producers who are part of that value chain.
The AfCFTA said the Secretariat has lined up 5 priority areas to focus on namely agribusiness, pharmaceuticals, automotive industry, ICT, transport and logistics.
He expressed admiration for the work the Secretariat is embarking on to develop structures that will support the Africa Continental Free Trade Agreement.
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Sunday, July 24, 2022
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