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Importers and Exporters Association hails Bank of Ghana’s US$1.15 billion forex injection under Domestic Gold Purchase Programme as lifeline for maritime trade stability

Importers and Exporters Association hails Bank of Ghana’s US$1.15 billion forex injection under Domestic Gold Purchase Programme as lifeline for maritime trade stability

The Importers and Exporters Association of Ghana (IEAG) has commended the Bank of Ghana (BoG) for its bold decision to...

Bank of Ghana to sell up to US$1.15 billion under Domestic Gold Purchase Programme to deepen FX market

Bank of Ghana to sell up to US$1.15 billion under Domestic Gold Purchase Programme to deepen FX market

Accra, Oct. 8. The Bank of Ghana (BoG) has announced plans to commence foreign exchange (FX) intermediation under the Domestic...

Fidelity Bank Ghana leverages Artificial Intelligence to boost productivity by over 200% and enhance customer service

Fidelity Bank Ghana leverages Artificial Intelligence to boost productivity by over 200% and enhance customer service

Accra, Oct. 8, Fidelity Bank Ghana is reaping substantial gains from its Artificial Intelligence (AI)-driven operations, according to Mr. Simon...

Dr Toni Aubynn, Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), says the Corporation has secured strong investor interest and partnerships for the establishment of the multi-billion-dollar Petroleum Hub Project at Jomoro in the Western Region. He said more than 70 local and foreign investors had so far expressed interest in the project, with 45 demonstrating concrete commitment to participate in its development. “In fact, two companies have already signed a 12-million-dollar agreement to develop phase one of the hub,” Dr Aubynn revealed in an exclusive interview with the Ghana News Agency (GNA). He disclosed that the PHDC had signed an agreement with a Qatar-based and Ghanaian partnership to construct a fertiliser plant within the hub. “The Minister of Food and Agriculture, Mr Eric Opoku, has agreed with the company to take all the fertilisers that will be produced,” he added. Dr Aubynn further stated that the Minister of Trade, Agribusiness and Industry had shown strong interest in the industrial and agribusiness components of the project. He noted that while substantial groundwork and documentation for the hub had been completed, the Corporation was working to resolve land ownership and compensation issues to ensure smooth implementation. “We still have the issue of land disputes. We are trying to finalise arrangements for the land and not use crude tactics to take the land for the hub,” he said, urging the youth of Jomoro to remain patient and focus on compensation and training opportunities rather than the size of the land. Dr Aubynn stressed that environmental sustainability was a key priority for the Petroleum Hub Project. “Lowering or reducing carbon footprint is very dear to the Minister of Energy and Green Transition, so most of the ancillary activities will be powered by solar energy,” he said. He explained that about one-third of the 20,000-acre site earmarked for the project comprised wetlands and lagoon areas, which would be preserved to maintain ecological balance. “This hub intends to maintain and create opportunities around it and not destroy it. We are also thinking about a green hydrogen source of power. Basically, the hub will be powered by gas, but we are considering carbon restriction initiatives to balance fossil fuel use with green efforts,” he added. Dr Aubynn emphasised that Africa’s energy transition must be gradual and tailored to the continent’s developmental realities. “Africa contributes only four per cent to global emissions, so we cannot be punished for what others did wrong. The green transition must adjust to our context,” he said. Reflecting on his vision for the project, Dr Aubynn expressed optimism that Ghana would soon witness tangible progress at the site. “Even if I don’t see it all in my time as CEO, I pray to see the start of this hub project and the direction becoming clear. If people can drive to Jomoro and say that they are building the petroleum hub, that will satisfy my soul,” he said. The Petroleum Hub Project, when completed, is expected to position Ghana as a leading oil and gas services centre in West Africa, driving industrialisation, job creation, and economic growth.

Over 70 investors express interest in Ghana’s multi-billion-dollar Petroleum Hub Project, Dr Toni Aubynn

Dr Toni Aubynn, Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), says the Corporation has secured strong investor...

Ghana, Niger renew Trade Pact to boost Transit Corridor Efficiency

Ghana, Niger renew trade pact to boost transit corridor efficiency

Ghana and Niger have renewed their long-standing trade cooperation with the signing of a new Memorandum of Understanding (MoU) in...

Ghana’s Petroleum Hub project to position nation as major energy and petrochemical hub in Africa – Dr Toni Aubynn

Ghana’s Petroleum Hub project to position nation as major energy and petrochemical hub in Africa – Dr Toni Aubynn

Dr Toni Aubynn, Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), has described the Petroleum Hub project as...

NGO proposes amendments to Minerals and Mining Act to ensure fairness and clarity in extractive sector

NGO proposes amendments to Minerals and Mining Act to ensure fairness and clarity in extractive sector

Accra, Oct 3, GNA, The Livelihood and Environment Ghana (LEG), a research and advocacy non-governmental organisation (NGO), has proposed a...

Ghana to decentralise passport services to all regions by December 2025

Ghana to decentralise passport services to all regions by December 2025

The passport application, a right entitled to every Ghanaian, has increasingly been associated with corruption, largely due to the centralised...

Ghana’s inflation drops to 9.4% in September, lowest in four years

Ghana’s inflation drops to 9.4% in September, lowest in four years

Ghana’s year-on-year inflation for September 2025 has fallen sharply to 9.4 percent, down from 11.5 percent in August, marking the...

Thirty years on, Beijing Declaration inspires women’s empowerment from China to the Global South

Thirty years on, Beijing Declaration inspires women’s empowerment from China to the Global South

Thirty years ago, the landmark Fourth World Conference on Women of the United Nations was held in Beijing, adopting the...

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