Business

Senyo Hosi to step down as CEO of Chamber of Bulk Oil Distributors

The CEO of the Ghana Chamber of Bulk Oil Distributors, Senyo Hosi is stepping down at the end of July 2022.

Mr. Hosi, the founding CEO of the Chamber, is leaving office after 10 years of service.

Under his leadership, the Chamber became recognized as one of the power houses for industry-based research and policy advocacy in Ghana. Through his efforts, and with support from the secretariat, the Chamber gained influence and showed innovation and leadership in the petroleum downstream sector.

Mr. Hosi 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).

He developed the 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. This contribution to the industry provided a remarkable turnaround for the dwindling economic fortunes of a hitherto heavily indebted energy sector.

Mr. Hosi has been integral to practically all the major policy and regulatory interventions in the downstream sector. His intellect, experience and knack for innovation led to his appointment as ministerial adviser under both the Mahama (NDC) and Akufo-Addo (NPP) administrations.

“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” Mr. 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.”

The chairman of the board of CBOD, Ivy Apea Owusu, commended Mr. Hosi for his decade-long service to the Chamber.

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

“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.”

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