After serving as CEO for ten years, Senyo Hosi leaves

After serving as CEO for ten years, Senyo Hosi leaves the Chamber of Bulk Oil Distributors.

Senyo Hosi, the CEO of the Ghana Chamber of Bulk Oil Distributors, will retire at the end of July 2022.

After serving in the position for ten years, Mr. Hosi, the Chamber’s first CEO, is stepping down.

Under his direction, the Chamber rose to prominence in Ghana as one of the leading centers for business-based research and policy advocacy. The Chamber acquired influence, demonstrated innovation, and shown leadership in the petroleum downstream industry thanks to his efforts and assistance from the secretariat.

Key policy decisions, such as the deregulation of petroleum prices, which prevented the Ghanaian economy from losing $500 million in unbudgeted subsidies each year, as well as the low-sulfur policy, which brought about cleaner fuels by adopting low-sulfur petroleum standards, are credited to Mr. Hosi (from 3000ppm to 50ppm).

He created the theoretical foundation for the enactment of the Energy Industry Levies Act (ESLA) and the structuring and ring-fencing of the levies’ profits as security for Ghana’s first energy bonds to address the roughly 2.5 billion US dollar debt of the energy sector. The energy sector’s declining economic fortunes, which had previously been severely leveraged, had a stunning reversal as a result of its contribution to the industry.

Almost all of the significant regulatory and policy changes in the downstream industry have included Mr. Hosi in some way. Both the Mahama (NDC) and Akufo-Addo (NPP) governments appointed him as a ministerial advisor due to his intelligence, expertise, and propensity for creativity.

At the CBOD Annual General Meeting, Mr. Hosi gave his last speech. He said, “It has been a decade of service working with you all to protect and promote the sustainable good of our business for the welfare of Mother Ghana.”

“One thing is certain: aggregated communal purpose is better than individual effort. I owe a debt of gratitude to everyone of the Chamber’s Secretariat’s Members and Employees for their unwavering assistance and cooperation throughout the years.

Ivy Apea Owusu, the chairman of the CBOD board, praised Mr. Hosi for his ten years of dedication to the Chamber.

She continues, “We can’t express our gratitude to Senyo enough for his outstanding efforts on behalf of all our members.

“He has been an exceptional leader at the secretariat, he has given his knowledge and enthusiasm towards the resolution of some of the numerous difficulties we have in the petroleum downstream sector, and with that, we cannot over-emphasize his effect on the Ghanaian economy overall,” she said. While we would want to keep him forever, it is not feasible. In light of this, we now wish him well in all of his future endeavors.