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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.

Source: https://universalbusinesspromozion.blogspot.com

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African Continental Free Trade Area Secretariat launches the AfCFTA Hub African Continental Free Trade Area Secretariat Launches The AfCFTA Hub A photo of the AfCFTA Hub project Sat, 6 Aug 2022Source: AfCTA Secretariat The AfCFTA Hub digital platform was launched on July 8th, 2022 at the Boma of Africa (www.bomaofafrica.com) event convened to mark Africa Integration Day. The AfCFTA Hub platform was launched on behalf of AfCFTA Secretariat by the African Union AfCFTA Champion, H.E Mahamadou Issifou, former President of the Republic of Niger and 2020 Ibrahim Prize Laureate. The Boma of Africa was jointly convened by the African Union (AU), the AfCFTA Secretariat, AfroChampions and the Africa Center for Disease Control and Prevention (Africa CDC). It was supported by the AfCFTA Hub Network, with support from Afreximbank, MTN, Ecobank, the Village Foundation, IC Publications, Dominion Television and APO. The launch of the AfCFTA Hub also coincided with the 3rd Anniversary of the entry into force of the African Continental Free Trade Agreement (AfCFTA). The launch event also featured a prize ceremony for a hackathon organised to mark the 3rd Anniversary of the AfCFTA and to demonstrate the benefits of an “AfCFTA Hub” to Small & Medium Enterprises (SMEs) and startups around the continent. The following companies as well as one individual were recognized as finalists at the Hackathon Prize Ceremony: Made’s Group Brand House Media Limited

TQay (Hayford Tenkorang Boadi) Anne’s Perfections Nunya’s Naturals Tropikal Brands The winners were as follows: Nunya’s Naturals: Circular Economy Prize TQay: Brand Equity Prize Tropikal Brands: AfCFTA Readiness Prize The launch event also featured video reports of the AfCFTA Hub activation, feasibility and consultative reports, which evidenced strong private and public support across the continent for such a timely facility. Some of the activation partners joined the event to share additional views and pledge their continued support. The lineup of corporate supporters included major logistics companies such as RwandAir, Kenya Airways, Ethiopian Airlines and Asky. Also represented were continental retail and distribution companies like MaxMart, Melcom, Walmart Africa and Naivas. On the digital, financial services, and fintech fronts, companies that participated in the launch of the AfCFTA Hub included mPesa, PAPSS, Vodacom, Orange, Webb Fontaine, Scanning Systems, and Standard Bank. Input into the development finance prospects came from the Arab Bank for Economic Development (BADEA) and the African Development Bank (AfDB). The AfCFTA Hub (www.afcfta.app) is an interconnect clearinghouse or nexus for national government, intergovernmental, private, and public digital and partnership platforms to link together in ways that simplifies and smooth the way for SMEs and startups to drive the success of the AfCFTA (the African Continental Free Trade Area ). The AfCFTA has established the world’s largest trading block, howeverit is essential to prevent SMEs and startups, which constitute the vast majority of economic actors on the African continent, from getting lost among the technical complexities and infrastructural bottlenecks of doing business in the Single Market. The AfCFTA Hub is designed to grow into a single, trusted directory of the services needed to navigate the AfCFTA for small players, thereby making AfCFTA the most inclusive Free Trade Area in the world thus far. The AfCFTA Hub also powers the “AfCFTA Number”, a trusted identity and social score for all SMEs, startups and other AfCFTA players. His Excellency, Wamkele Mene, in his keynote remarks emphasised the “importance of ensuring the centrality of SMEs, startups and female entrepreneurs as we strive to build the world’s most inclusive, most innovative and most integrated Single Market.” –ENDS — About the African Continental Free Trade Area (AfCFTA) The African Continental Free Trade Area (AfCFTA) is one of the flagship projects of Agenda 2063: The Africa We Want and entered into force on 30 May 2019. It is a high ambition trade agreement, which aims to bring together all 55 member states of the African Union, covering a market of more than 1.3 billion people, with a comprehensive scope that includes critical areas of Africa’s economy, such as digital trade and investment protection, amongst other areas. By eliminating barriers to trade in Africa, the objective of the AfCFTA is to significantly boost intra-Africa trade, particularly trade in value-added production and trade across all services sectors of Africa’s economy, at a potential of 52.3 percent. Source: AfCTA Secretariat Disclaimer

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launches National AFCFTA policy framework

President Nana Addo Dankwa Akufo-Addo Tue, 2 Aug 2022Source: https://universalbusinesspromozion.blogspot.com President Akufo-Addo has launched the National AfCFTA policy framework and action plan as Ghana is the host of the AfCFTA secretariat. Read his full speech below: SPEECH DELIVERED BY HIS EXCELLENCY NANA ADDO DANKWA AKUFO-ADDO, PRESIDENT OF THE REPUBLIC OF GHANA, AT THE LAUNCH OF THE NATIONAL AfCFTA POLICY FRAMEWORK AND ACTION PLAN AT THE KEMPINSKI HOTEL GOLD COAST CITY, ACCRA ON TUESDAY, 2ND AUGUST 2022 •Hon. Ministers of State; •Representative of Secretary General of the AfCFTA Secretariat; •Hon. Deputy Ministers; •Hon. Members of Parliament; •Members of the Diplomatic Corps; •Chief Executives and Heads of Departments, Agencies and allied Institutions; •Chairpersons and Chief Executives of Private Sector Companies; •Presidents and Chief Executives of Business Associations; •Distinguished Guests; •Ladies and Gentlemen. At the Extraordinary Summit of African Union Heads of State in the capital city of Rwanda in March 2018, President Akufo Addo joined 54 of his colleague Heads of State, to sign the African Continental Free Trade Area (AfCFTA) Agreement. That historic event signaled to the global community, particularly the private sector operators in Africa, that the continent was ready to usher in a new age of economic integration anchored on improving intra-African trade through the removal of barriers to cross-border trade and dismantling of tariffs. Following that historic event in Kigali, Rwanda, the African Union Commission working in close collaboration with the AU Council of Ministers of Trade has achieved significant milestones in operationalizing the AfCFTA Agreement, which include the launch of the operational phase of the AfCFTA in Niamey, Niger in July 2019; the establishment of the AfCFTA Secretariat with Accra as the Host Capital in August 2020; and the launch of Start of Trading under the AfCFTA in January 2021. In addition to the above, 43 Member States have currently ratified the AfCFTA Agreement and deposited their Instruments of Ratification with the AfCFTA Secretariat, whilst Provisional Schedules of Tariff Concessions of 29 countries have been verified and accepted for trade in goods. This trajectory of events should inform the Member States of the readiness of Africa to harness the full benefits of economic integration. Distinguished Guests, Ladies and Gentlemen. The President is happy to participate in the launch of the National AfCFTA Policy Framework and Action Plan for boosting Ghana’s trade with Africa. This launch clearly indicates that Government is continuously positioning the private sector operators in Ghana to trade under the AfCFTA Agreement. The National AfCFTA Policy Framework and Action Plan is geared towards the harmonization of relevant policies, programmes, laws, and regulations to boost the productive capacities of the private sector in Ghana particularly the MSMEs to harness the full benefits of AfCFTA. A successful implementation of the Action Plan will boost the capacities of the Ghanaian private sector to take advantage of market access opportunities in Africa to promote ‘Made in Ghana’ goods and services. The Ministry of Trade and Industry has led the establishment of the relevant structures for the implementation of the various AfCFTA protocols in Ghana. This includes the establishment of the National AfCFTA Coordinating Office with the responsibility to coordinate the implementation of Ghana’s AfCFTA strategy. Hon. Ministers, Ladies and Gentlemen, It is significant to note that our National AfCFTA Policy Framework and Action Plan was derived from the work of the national structures put in place by the Ministry of Trade and Industry to advance our national interest in the continental AfCFTA project. They include the AfCFTA Inter-Ministerial Committee, National Steering Committee on AfCFTA, and the Technical Working Groups on Boosting Trade with Africa. Hon. Minister for Trade and Industry, the President has asked me to commend the extensive technical work undertaken by these Committees especially the seven Technical Working Groups, comprising Representatives from the private sector, Senior Government Officials, and other Technical Experts. Excellencies, Hon. Ministers, Ladies and Gentlemen, As you are aware, African countries cannot overcome the current economic challenges occasioned by the incidence of the COVID-19 Pandemic and the Russia-Ukraine war if we do not develop measures to improve the productive capacities of the private sector and increase intra-African trade. The effective operationalization of the AfCFTA Agreement in Ghana would significantly boost Ghana’s balance of trade, stimulate investment and innovation, diversify exports, improve food security, foster structural transformation, enhance economic growth, and above all, provide jobs for the youth. The Ministry of Trade and Industry and the Ghana Coordinating office of the AfCFTA, this framework, as brilliantly as it is structured will not mean much if you do not implement the programs under it with speed, effectiveness, and commitment. It is your successful implementation of the programs under this framework that matters and which will ensure that thousands of Ghanaian businesses can ride on its back and export significantly into the African continent. Thereby boosting local economic activity, our growth, jobs and earnings. So go at it and don't be held back by the hurdles that will come your way. To the Ghanaian private sector, your Government is working through this and other initiatives to make it relatively easier for you to get access to this large market of over a billion people to enable you trade more goods and services out. Yours is to take advantage of it and collaborate with us to resolve any teething challenges that may come 

up. But no matter the nature of the challenges be resolved to work with us, hand in hand, to make this work. It is in our national interest to not take this window of opportunity lightly. In conclusion, Distinguished Ladies and Gentlemen, let me reiterate Mr. Presidents’ pledge to mobilize the required financial and technical resources to assist Ghanaian businesses to take full advantage of the AfCFTA. Ladies and Gentlemen, It is the pleasure of His Excellency the President to declare the National AfCFTA Policy Framework and Action Plan for Boosting Ghana’s Trade with Africa duly launched. I thank you for your kind attention. Source: https://universalbusinesspromozion.blogspot.com

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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.

Source: https://meetmyneedsz.blogspot.com

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