Minister for Energy in Ghana, Dr. Matthew Opoku Prempeh, has commended the administration of the Bulk Oil Storage and Transportation (BOST) for its remarkable turnaround, urging other heads of State-owned Enterprises (SoEs) to follow suit.
BOST, a state-owned company responsible for the storage and transportation of petroleum products in Ghana, has reported significant financial growth. In 2021, the company’s profit was GHS 161 million, and in the subsequent year, it increased to GHS 342 million, marking a growth of 112%.
During BOST’s 2nd Annual General Meeting, the Board Chair of BOST, Ekow Hackman, shared this positive financial performance. In response, Minister Matthew Opoku Prempeh praised BOST’s progress and stated that other SoEs should learn from their success story and strive to replicate such performance. He emphasized that State-Owned Enterprises can generate profits, contribute to government fiscal policies, and support national growth with the right leadership and attitude.
The Energy Minister highlighted that the success of BOST demonstrates the potential for SoEs to play a vital role in the government’s flagship programs by generating revenues. He encouraged the Public Enterprises Ministry and the State Interest and Governance Authority (SIGA) to lead and inspire other SoEs to fulfill their mandates and visions.
Dr. Matthew Opoku Prempeh urged BOST’s management to sustain their performance and continue striving for greater achievements, emphasizing that the company’s success contributes to the government’s fiscal policies and supports the country’s overall growth and development agenda.