Ghanaian financier and art collector V. L. K. Djokoto, Managing Partner at D. K. T. Djokoto & Co, is calling for a suspension of exploration and production contracts for the Keta Delta Block.

Djokoto argues that there hasn’t been enough effort to build cooperation with local communities and coastal residents who will be affected by oil exploration activities.

Swiss African Oil Company and PET Volta Investments recently received new exploration and production licenses for the Keta Delta block, situated in the Volta Region of Ghana.

This acquisition makes Swiss African Oil and PET Volta the first companies to explore for oil in Ghana’s offshore waters.

While acknowledging Swiss African Oil’s strong reputation, Djokoto expressed concerns about BP, Total, and Shell moving away from the infrastructure supporting the global trend toward oil and gas extraction beyond the mid-21st century.

“They’re exploring cleaner alternatives because climate change significantly affects the Keta constituency, particularly its impact on fishing communities and coastal ecosystems,” he explained.

Djokoto also raised security concerns along the Ghana-Togo border in West Africa, noting that the region faces serious border security challenges. He pointed out that Ghana loses $2.3 billion annually to smuggling from this area, emphasizing the need for intelligent solutions that don’t rely on political oppression.

He stressed the importance of revising the type of agreements Ghana has in place.

“There’s good reason to take our time and consider credible alternatives to ensure we don’t push our people into political instability,” Djokoto said. “I believe this is important work that requires an honest, nonpartisan approach. We need to reinvent our economy and chart a clear direction that aligns with where the world is heading—something that will resonate with most people who share this perspective.”