The Bulk Energy Storage and Transportation Limited Company (BOST) has successfully held its 2025 Annual General Meeting (AGM) today at its Head Office 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 Chief Executive Officer 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, the 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, Afetsi Awoonor, for the excellent work they have done over the past seven months towards enhancing the operational efficiency of BOST.
He further urged BOST to strategically position itself in the petroleum downstream value chain to be a major supplier to the industry.
He urged the company to accelerate innovation and investments that align 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 emphasised that BOST must achieve profitability and declare dividends to the Government of Ghana by the end of the 2025 financial year.
On the 2025 performance contract signed between SIGA and BOST, he indicated that SIGA expects BOST to demonstrate measurable progress in cost optimization, revenue generation, and asset maximisation.
He 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.