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Parliament Ratifies Jubilee and TEN License Extensions to 2040, Securing $2 Billion Investment for Ghana

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In a landmark decision that cements the future of Ghana’s petroleum sector, Parliament has formally ratified the license extensions for the West Cape Three Points and Deepwater Tano Petroleum Agreements, which cover the prolific Jubilee and TEN fields.

The licenses will now remain in effect until 2040, unlocking a wave of new investment and ensuring sustained revenues for the nation.

The ratification, announced on Friday February, 20, 2026, by operator Kosmos Energy, concludes a strategic negotiation process that positions Ghana to maximize the long-term value of its premier offshore assets. The company confirmed it played a leading role in progressing, negotiating, and executing the extensions alongside the Government of Ghana.

Economic and Energy Security Boost

The extended agreements are expected to channel up to $2 billion in incremental investment into the Ghanaian economy over the coming years. A key component of the renewed contracts includes a commitment to deliver higher volumes of affordable natural gas from the fields to support domestic power generation, bolstering the country’s energy security and supporting industrialization efforts.

Beyond investment, the extended lifespan of the fields ensures a prolonged revenue stream for the state through royalties, corporate taxes, and petroleum holdings. This provides a stable fiscal foundation for national development planning for the next 14 years.

Driving Future Production from a World-Class Asset

As part of the amendments to the Jubilee plan of development, the partnership will drill up to 20 additional wells in the field. This intensive drilling campaign is expected to significantly enhance recovery and increase Jubilee’s 2P (proved and probable) reserves.

The operational benefits of the extension are already evident. Kosmos reported that gross daily production from the Jubilee field has surged past 70,000 barrels of oil per day (bopd) in February month-to-date, driven by the successful ramp-up of the J74 well, which came online in early January and is now producing approximately 13,000 bopd.

Furthermore, the first well of the five-well 2026 drilling campaign, J75, has been successfully drilled, encountering approximately 40 meters of net pay. It is expected to come online around the end of the first quarter, mirroring the multi-zone completion strategy that proved successful with recent wells.

“This improved performance, combined with the financial progress we are making, strengthens the resilience of the company and ensures we are well positioned to create long‑term value for our shareholders,” said Andrew G. Inglis, Kosmos Energy’s chairman and chief executive officer, while highlighting the company’s record production levels.

The license ratification represents a significant vote of confidence in Ghana’s investment climate and its deepwater potential, ensuring that the Jubilee and TEN fields continue to be a cornerstone of the national economy for a generation.

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Ukraine Eyes Major Wheat Flour Production Facility in Ghana to Tap Into West Africa’s Growing Market

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The Ukrainian government is actively exploring establishing a wheat flour production facility in Ghana, a move aimed at strengthening bilateral agricultural cooperation and expanding Kyiv’s foothold in West Africa’s rapidly growing wheat market.

The proposal was disclosed following a high-level meeting on April 8, 2026, in Accra between Ghana’s Minister of Food and Agriculture, Eric Opoku, and Ukraine’s Deputy Minister of Agrarian Policy and Food, Denys Bashlyk.

Officials described the proposed industrial project as an extension of a Memorandum of Understanding (MoU) signed between the two nations in November 2025. That agreement seeks to create a hub for processing and distributing Ukrainian agricultural products in Ghana and the broader West African region.

Strategic Push into a Booming Market

While specific details—including the plant’s location, investment cost, and production capacity—have not yet been made public, the initiative is expected to boost Ghana’s domestic wheat processing capabilities significantly.

Ghana’s demand for wheat-based products—including bread, biscuits, pasta, pastries, instant noodles, and pizza—has been rising steadily. According to data from the United States Department of Agriculture (USDA), Ghana’s wheat imports surged by 56.7% over four years, rising from 697,309 tonnes in 2022 to 1.09 million tonnes in 2025.

For Ukraine, the project represents a strategic opportunity to gain a stronger presence in the Ghanaian market, where it currently has little footprint. As the world’s fifth-largest wheat exporter—after Russia, Canada, the United States, and Australia—Ukraine exported approximately 20.6 million tonnes of wheat in 2024.

From Raw Exports to Value-Added Processing

The development highlights growing interest by Eastern European agricultural powerhouses in investing directly in African processing infrastructure.

Rather than relying solely on raw commodity exports, countries like Ukraine are seeking to reduce dependence on volatile global markets by establishing local milling and distribution networks.

Such investments allow producer nations to capture more value along the supply chain while helping African nations reduce their reliance on imported finished products. For Ghana, a local Ukrainian-backed flour mill could stabilize supply, create jobs, and potentially lower costs for consumers.

Officials from both sides have indicated that feasibility studies are underway, with further announcements expected once technical and financial assessments are complete.

The project aligns with Ghana’s broader agenda to enhance food security, attract foreign direct investment in agriculture, and position itself as a regional agro-processing hub.

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Netherlands Reclaims Position as World’s Top Exporter of Cocoa Products, Ghana Remains Key Supplier

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Amsterdam, Netherlands – The Netherlands has overtaken Germany to become the world’s leading exporter of cocoa products in 2025, recording €12.4 billion in exports, according to new data from Statistics Netherlands (CBS).

The sharp rise in export value was driven by elevated global cocoa prices and strong international demand for semi-processed cocoa products used in chocolate manufacturing.

Nearly three-quarters of Dutch cocoa exports consist of intermediate goods such as cocoa butter, cocoa powder, and chocolate liquor, which are shipped to manufacturers across Europe and North America.

Germany remains the largest single market for these exports, followed by Belgium, France, the United Kingdom, and the United States.

West African countries, particularly Côte d’Ivoire and Ghana, continue to serve as critical suppliers of raw cocoa beans feeding Dutch processing hubs, especially around Amsterdam and the Zaanstreek industrial area.

The sustained high prices have been linked to poor harvests in West Africa caused by adverse weather conditions in recent years.

For Ghana, the development underscores its continued strategic importance in the global cocoa supply chain.

However, it also highlights the longstanding imbalance in the industry, where African nations primarily export raw beans while European processors capture the majority of the value through further processing and re-export of higher-value products.

Economists argue that while Ghana benefits from strong demand for its beans, greater investment in local processing capacity and industrialisation is needed to retain more value domestically and reduce heavy reliance on raw commodity exports. The Netherlands’ dual role as a major importer of raw beans and leading exporter of processed cocoa products further cements its position as Europe’s cocoa trading powerhouse.

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Ghana Nears Approval of Cannabis Licences as Country Prepares to Launch Regulated Industry

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Accra, Ghana – Ghana’s Narcotics Control Commission (NACOC) is in the final stages of reviewing applications for cannabis licences, with successful applicants expected to receive approval to begin operations soon, marking a significant milestone in the country’s efforts to develop a legal and regulated cannabis sector.

Deputy Director-General for Enforcement, Control, and Elimination, Alexander Twum-Barimah, disclosed this while speaking at the Kwahu Business Forum on Saturday.

He emphasised that the review process has been “thorough and deliberate” to ensure that only applicants who fully meet all legal, regulatory, and security requirements are granted licences. NACOC officials engaged with potential investors at the forum’s exhibition stand, providing details on various licence categories, including cultivation, processing, distribution, and export.

Mr Twum-Barimah stressed that the commission is committed to building a properly regulated industry that creates legitimate economic opportunities while maintaining strict controls to prevent misuse and illegal activities.

“The goal is to strike a balance between enabling economic development and safeguarding public health and security,” he said.

All licence holders will be subject to ongoing monitoring and compliance checks.

The development signals Ghana’s intention to harness the economic potential of cannabis through job creation, investment, and export revenue, while aligning with international best practices in regulation. Further updates on the licensing process are expected in the coming weeks.

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