Accra, Aug 28, GNA-The Bulk Energy Storage and Transportation Limited Company (BOST) has held its 2025 Annual General Meeting (AGM) in Accra.
The meeting, brought together key stakeholders, including the Minister for Energy and Green Transition, the Director-General of the State Interests and Governance Authority (SIGA), the CEO of the National Petroleum Authority, representatives from the Ministry of Finance, the Ghana Audit Service, the Board members of BOST and the management of BOST.
In his keynote address, Mr John Jinapor, Minister for Energy and Green Transition praised the board of directors, under the chairmanship of Professor Saint Kuttu, and Management led by the Managing Director, Mr. Afetsi Awoonor, for the excellent work they had done over the past seven months towards enhancing the operational efficiency of BOST.
He urged BOST to strategically position itself in the petroleum downstream value chain to be a major supplier to the industry and urged the company to accelerate innovation and investments that aligned with the government’s green transition agenda, stressing that “By integrating sustainability into its core business, BOST can lead the way in building a cleaner and more resilient energy future for Ghana.”
Speaking on behalf of SIGA, the Director-General Mr Afetsi Awoonor emphasized that BOST must achieve profitability and declare dividends to the Government by the end of the 2025 financial year.
On the 2025 performance contract signed between SIGA and BOST, he indicated that SIGA expected BOST to demonstrate measurable progress in cost optimization, revenue generation, and asset maximization and stressed that “The Board and Management must demonstrate accountability not only to SIGA but also to the Ghanaian people who ultimately own this enterprise.
“ Every decision must be justified by its contribution to national development and value creation”.
In his remarks, the Board Chairman of BOST reaffirmed the company’s commitment to fulfilling its mandate of guaranteeing Ghana’s strategic petroleum reserves and ensuring adequate storage and transportation infrastructure.
He highlighted BOST’s ongoing investments in infrastructure rehabilitation, digitalization, and enhanced governance at the board level and remarked that “good governance remains the bedrock of our performance, and the Board has strengthened its governance structures, improved oversight, and ensured accountability in all facets of the organization.”
The AGM adopted the audited financial statements for 2024.
Also at the AGM, the shareholder of the company approved the change of name from Bulk Energy Storage and Transportation Limited Company (BOST) to BOST Energies, marking a new era for the company as it positions itself to align with Ghana’s energy transition agenda.
With this new identity, BOST Energies will continue this legacy while expanding its focus to include sustainable and cleaner operations.
The rebrand is in direct alignment with the Government of Ghana’s National Energy Transition Framework, underscoring the company’s commitment to supporting national and regional sustainability goals.
BOST Energies (formerly Bulk Energy Storage and Transportation Limited Company) is Ghana’s strategic energy infrastructure company, responsible for managing the nation’s strategic reserves, operating a network of depots and pipelines, and ensuring reliable fuel distribution across the country.
GNA
Edited by George-Ramsey Benamba