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Business News of Monday, 4 July 2022

Source: www.ghanaweb.com

Senyo Hosi steps down after 10 years as founding CEO of CBOD

Senyo Hosi, CEO of CBOD Senyo Hosi, CEO of CBOD

After spending a decade at the Ghana Chamber of Bulk Oil Distributors, Senyo Hosi, the founding CEO, will step down at the end of July 2022.

Hosi, for the past 10 years has been able to lead his industrous team to make the Chamber became recognized as one of the powerhouses for industry-based research and policy advocacy in Ghana. The Chamber, through that, gained influence and showed innovation and leadership in the petroleum downstream sector.

He will be is credited for being the catalyst for key policy decisions including the petroleum price deregulation that saved the Ghanaian economy 500 million US Dollars every year in unbudgeted subsidies as well as the low Sulphur policy that introduced cleaner fuels by adopting low Sulphur petroleum standards - from 3000ppm to 50ppm.

As the founding CEO of CBOD, Senyo Hosi developed a conceptual framework for the adoption of the Energy Sector Levies Act (ESLA) and the structuring and ring-fencing of the proceeds from the levies as collateral for Ghana’s first energy bonds to address the energy sector’s debt of about 2.5bn US Dollars.

“It has been a decade of service working with you all to defend and promote the sustainable good of our industry for the good of Mother Ghana,” Hosi said in his final address at CBOD’s Annual General Meeting.

“One thing has been clear: the aggregation of collective purpose is more beneficial than individual effort. I am extremely grateful to all Members and Staff of the Chamber’s Secretariat for the enormous support and co-operation that I have enjoyed all these years,” he added.

On her part, Ivy Apea Owusu, the chairman of the board of CBOD, commended Senyo Hosi for his decade-long service to the Chamber.

“We cannot thank Senyo enough for his stellar advocacy on behalf of all our members.

“He’s been an exemplary leader at the secretariat, he’s contributed his intellect and passion towards the resolution of some of the many challenges we face in the petroleum downstream sector and with that we cannot over-emphasize his influence on the Ghanaian economy as a whole. We wish we could keep him forever but that is impossible. And so, for now, we wish him the very best in all his future endeavours,” she said.

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