SENYO KWASI HOSI

Legacy Bonds Ltd is a Special Purpose Vehicle (SPV) owned by the Ghana Association of Bankers (GAB) and the Ghana Chamber of Bulk Oil Distributors (CBOD). It was set up to provide central administration and management of BDC indebtedness to banks and BDC receivables from the Government of Ghana (GoG).

Achievements

• Structured the operating framework for the company
• Coordinated and negotiated the assignment of about USD 850million BDC interest in GoG receivables to LBL
• Secured the payment of USD600million in GoG receivables to LBL
• Structured the disbursement mechanism to beneficiary banks and BDCs of funds received
• Arbitrated over 30 debt assessment disputes between BDCs and banks

HFields Limited is a Ghanaian company incorporated to offer advisory and technology services to the petroleum sector.

Achievements

• Providing strategic direction for the business
• Business development and business origination at C-suite level
• Project lead on the design and development of a new automated stock/inventory risk management proprietary software to support petroleum supply chain and manage counterparty credit risk along the value chain

CBOD served as the chief administrator, representative, industry strategist, advocate, negotiator and lobbyist for the Bulk oil Distribution Companies

Achievements

• Lobbied and led advocacy for the adoption and implementation of the fuel price deregulation policy
• This included providing policy analysis and supporting framework for Government
• This saved the Government of Ghana about USD500mn per year
• Developed the Legacy Debt management structure for industry and secured industry acceptance (i.e
• Banks, BDCs and Government)
• This provided a central administrative framework for managing BDC indebtedness estimated at about Ghs 3bn to the banking sector and is aimed at minimizing the impairment risk posed by BDC debts to banks
• Secured payments of Government debt to industry of over Ghs 3bn
• This included the structuring and negotiation of the issuance of a Ghs900m Bank of Ghana bond
• The first ever callable bond issued by the BoG
• Provided the conceptual framework for the Energy Sector Levies Act, 2015 (Act 899)
• Developed the conceptual framework for the Energy bonds (ESLA PLC bonds) adopted by Government to address its indebted of about Ghs10bn to the energy sector
• Developed and negotiated the adoption of the Real Subsidy Policy to mitigate the financing cost of bearing government price under-recoveries (currently estimated at about Ghs541mn) and developed the model for its determination
• This was critical in restoring funding confidence in the industry at the time of adoption in 2014
• Developed and recommended the current forex pricing model for regulated products to mitigate the occurrence of forex loss under-recoveries
• This was christened the OFMAC model
• Advocated and lobbied for the adoption of cleaner fuel quality standards
• This contributed to the amendment national Standards for Petroleum, from 3000ppm (parts per million) to 50ppm
• Current delivery typicals stand at about 10ppm
• Established the biennial Ghana International Petroleum Conference (GhipCon) to provide a downstream platform for industry policy review and business development
• Developing a trade credit management system (CREPT) to minimize the high level of trade credit risk (estimated at about Ghs700mn) posed to the entire downstream sector
• Set up all existing corporate and governance structures of the Chamber
• Developed a visible and reputable organization
• Lobbied for the establishment of a downstream local content policy

Achievements

• Restructured the logistics operations and increased revenue by over 400%
• Developed the company’s port logistics business into the largest indigenous in-terminal shunting operator after one year of appointment
• Managed a total staff size of 81
• Renegotiated and managed corporate liabilities to improve capital structure and ensure a turnaround to commercial viability
• Led finance, commercial and industrial negotiations
• Developed and managed systems to ensure efficiency and accountability. These include software applications, process restructuring and reporting systems

Achievements

• Contributed operationally and strategically to the development of the company into a $400m turnover business in the first year of operations
• Brokered sale of shares between the shareholders without disturbing existing business structures
• Managed regulator and competitor relationships

Achievements

• Led the company to be licensed as a Bulk Oil Distribution Company
• Coordinated and brokered the sale of ordinary shares to introduce strategic partners into the business
• This served as a critical step in ensuring operational viability and the achievement of a $400m turnover in the first year of operations
• The company achieved a 15.38% market share in a market of 10 players

Achievements

• Led the project financing advisory services business
• Key projects included a 300,000- metric ton per annum API 5L LSAW pipe rolling mill (€140m) and a 10,000-housing unit project in Nigeria valued at over USD1bn
• Led the West African structured trade finance business
• Built and led a team that successfully traded over US$80m from a pre-appointment low of US$3m
• Led a team to set up systems to effectively monitor banking transactions leading to an annual savings of $USD400,000
• Set-up the trading department
• Initiated the development of alternate financing structures and partners

Achievements

• Led the execution of a strategy to recover over $400,000 losses in commodity trading
• Set up group management information systems for monitoring all affiliate companies’ performance
• Led the restructuring of the logistics business
• Oversaw the commodity export business

Achievements

• Restructured distribution system/network and signed on 15 distributors in key regions. This increased sales by 20% within a 3-month period
• Developed and structured the marketing department (Previously non-existent)

Achievements

• Researched and re-positioned operations to yield a 10% increase in canned tuna sales and a 47% increase in rice sales (YTD Aug 2005 vs YTD Aug 2004)
• Introduced Crystal oil as part of the company’s trading products. Crystal grew to become the company’s 2nd highest contributor to gross profits
• Assessed business in Nigeria and proposed a review of operations/strategy which was adopted by management. This contributed to a 10% increase in canned tuna sales
• Explored market development opportunities in Burkina Faso yielding a 200% increase in exports to Burkina Faso