Kofi Ahovi

Ghana’s annual crude oil production has declined from 55.05 million barrels (bbl) in 2021 to 51.7 million bbl in 2022, representing a 5.98% decrease. The 2022 actual output represents 87% of the 2022 Benchmark crude oil output of 59.51 million barrels. The relatively lower production volume in 2022 was due to reduced production on the TEN and SGN fields. The productions were obtained mainly from three oil fields, thus Jubilee field, Sankofa Gye Nyame and TEN field. The Jubilee Field contributed about 60% of the total output with production on the Jubilee field increasing by 11.7% from the 2021 output of 27,335,481 bbls to 30,523,813 bbls in 2022. The increased production was due to the successful drilling and completion campaign of three wells. The TEN Field’s production declined by 28 percent from 11.9 million bbls in 2021 to 8.6 million bbls in 2022 due to technical challenges on the Enyenra reservoir. The SGN Field recorded a reduced output of 12.6 million bbls in 2022 compared to 1...

 KIC has organised  its first stakeholder engagement with some selected Farmer Based Organizations (FBOs) in Accra. The meeting was to provide KIC and the Farmer Based Organizations interactions and shared areas of deepened collaboration between farmer needs assessment and job creation in agribusiness that will be relevant to the needs identified. It also created pathways for KIC to provide capacity-building and funding opportunities to support to farmer-based organizations to meet some of these challenges. As an innovation hub focused on agritech and youth employment, KIC is committed to partnering with key stakeholders in the agriculture and agri-adjacent sectors. In his opening remarks at the meeting, Mr. Benjamin Gyan-Kesse, the Executive Director for KIC, called on the Farmer Based Organizations to create shared solutions to address some of the challenges within the agricultural value chain by focusing on youth-led innovation, as well as strengthening their readiness for ...

 The KIC Business Booster program has organized a series of town hall meetings with a total of 26 businesses in Ashanti, Central, Greater Accra, Northern and Upper West regions, as part of their investor readiness coaching and capacity building. The Business Booster program is a growth and acceleration program targeted at Ghanaian-owned Micro Small Medium Enterprises (MSMEs) and Farmer Based Organization, to scale and become investor ready. Since its inception the KIC Business booster program has supported Agri-MSMEs in the agricultural and agri-adjacent sectors. The Business Booster program seeks to strengthen and spur the growth of existing MSMEs in agriculture and agriculture adjacent sectors in Ghana that have demonstrated potential and are ready to scale. The booster program support to the Agri-MSMEs includes training and capacity building, business development support as well as mentoring and coaching. The coaching, mentoring and business development support leads to investor...

  Digitization is revolutionizing the way businesses operate across the globe, and Africa is no exception. Over the past two years, remote and hybrid arrangements have become the norm in the workplace. We have seen the proliferation of new digital tools and platforms to support hybrid work, such as video conferencing, cloud-based software, and collaboration platforms like Teams and Zoom. IT teams have had to support this transition by providing technical support for these new digital tools and platforms, all the while ensuring cybersecurity and data protection, and managing remote access to company systems and applications. The challenges of navigating digitization in a hybrid working world Navigating digitization in a hybrid working model can be challenging for both businesses and IT teams. Research conducted by Walnut Unlimited on behalf of Canon, shows that there is a divide between businesses and employees when it comes to hybrid working. While businesses think they are largely...

  A coalition of 32 civil society organisations (CSOs) have registered their displeasure at attempts to dispose of Jubilee Oil Holding Limited’s (JOHL) 50 per cent interest in South Deepwater Tano Block (SDWT) to Petroleum Oil and Gas Corporation of South Africa (PetroSA). The Alliance of CSOs working on Extractive, Anti-corruption and Good Governance maintained that the proposed deal to split shares of the SDWT was not in the interest of Ghana and for that reason should be halted immediately. It followed a letter dated May 16, 2023 by the Minister of Energy, Dr Matthew Opoku Prempeh, directing the Ghana National Petroleum Corporation (GNPC) to cease negotiations with PetroSA on JOHL’s stakes. At a press conference in Accra yesterday to demand accountability, the CSOs commended the Minister of Energy, Dr Matthew Opoku Prempeh, for stopping the negotiations and called for the resignation of the persons championing the deal at GNPC. Numbering 32, some of the big names forming the all...

 The re-engineering of the Kpone landfill site into a recreational centre is more than 90% complete. According to the Project Manager for Jospong Group Ing. Kwadwo Osei, the project will be completed on schedule. This was made known when the Sector Minister for Sanitation and Water Resources Hon. Cecilia Abena Dapaah paid a working visit to the Kpone Landfill site on Tuesday May 24, 2023. The visit was to inspect on-going works on the decommissioning and re-engineering of the 35 hector landfill site. The project is expected to be completed by August 2023," Ign. Osei explained to dignitaries and the media the stages as well as the extent of work done, and also the resolve to turn the site into a recreational park for tourism and its related purposes. The Minister of Sanitation and Water Resources, Hon. Cecilia Abena Dapaah indicated her pleasure with the work done thus far and urged the consultant to meet the project schedule. She assured her ministry's commitment to periodical...

  In view of the negative impact of the government’s Domestic Debt Exchange Programme (DDEP) on the country’s banking sector, a financial analyst with Deloitte Ghana wants the Bank of Ghana to be more supportive in its approach to have the banks recapitalise.  Dennis Brown said as against an overly strict and punitive approach such as license withdrawal, among other things, BoG must take into consideration the fact that the challenges the banks face now were not self-inflicted but one occasioned by an action of government. Government, as part of efforts to secure a $3 billion bailout deal with the International Monetary Fund (IMF), was compelled to undertake a major debt restructuring exercise meant to reduce its debts to sustainable levels over the medium term. The debt exchange exercise which was mostly patronised by players in the banking sector resulted in creating serious financial challenges as 16 of them recorded heavy losses at the end of the 2022 financial year. For i...