• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Energy Minister praises BOST; calls on SOEs to grow profit to support Gov’t’s fiscal policies

2 years ago
in Business, Editor's pick, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
91
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Energy Minister praises BOST; calls on SOEs to grow profit to support Gov’t’s fiscal policies

Minister for Energy, Mathew Opoku Prempeh, has said BOST’s success of recording a net profit of GHS 342m in 2022, a 112% increase in profit when compared to the GHS 161m net profit recorded in 2021, contributes to the fiscal policies of the government and supports our national growth and development agenda.

Commending the Management and staff of BOST for achieving an impressive 113% increase in profit during the Annual General Meeting of the company, Mr Opoku Prempeh noted it is his expectation that other State-Owned Enterprises (SOEs) will learn from the BOST story and replicate the company’s performance.

“The remarkable performance of BOST reinforces my firm belief that State-Owned Enterprises can generate profits, pay dividends and make significant contributions to the government’s fiscal policies with the right leadership, attitude and balance.”

“This, I believe will ensure that government can effectively execute its flagship programs using revenues generated by its SOEs. The BOST model should serve as an exemplary example for all SOEs,” he stated.

Aside growing its net profit from GHS 161m in 2021 to GHS 342m in 2022, BOST  has also transitioned from a negative equity position of (GHS 248,190,799) in 2021 to a positive equity position of (GHS 86,466,542) in 2022.

The positive equity position of BOST, now places the company on a sound footing to enable the company pay dividends to the government.

RelatedPosts

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

Speaking further at the AGM, the Minister noted that the BOST Margin saw an upward revision from 7 to 9 pesewas per litre in 2022, facilitating the commissioning and initiation of major works.

These include the;

∙ Commissioning and operationalization of the

Tema-Akosombo-Petroleum Pipeline.

∙ Completion of the Kumasi Rehabilitation

Project.

∙ Repair and commissioning of tanks at Accra

Plains Depot (APD).

∙ Construction of Bulk Road Vehicles (BRVs)

park at Accra Plains Depot.

∙ Completion of Tema-Kumasi Pipeline Front

End Engineering Design (FEED).

Tags: BOST GHANACompletion of the Kumasi Rehabilitation Project.Energy Minister praises BOST; calls on SOEs to grow profit to support Gov’t’s fiscal policiesMathew Opoku PrempehMinister for EnergyRepair and commissioning of tanks at Accra Plains Depot (APD)Tema-Akosombo-Petroleum Pipeline
No Result
View All Result

Highlights

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

Trending

Business

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

August 4, 2025

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana The Criminal Investigations Department (CID)...

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

August 4, 2025

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

August 4, 2025

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

August 4, 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.