The Director-General of the State Interests and Governance Authority (SIGA) Ambassador Edward Boateng has commended the Board and Management of the Bulk Oil Storage and Transport Co. Ltd (BOST) for posting a profit after tax of GH¢160.7 million for the 2021 financial year, compared to a loss of GH¢291 million in 2020.
He made this known at the 1st annual general meeting held by BOST for the year 2021 which had several dignitaries in attendance, including the Ministers for Energy, Public Enterprises, Greater Accra to mention a few.
Speaking at the AGM, the Minister for Energy, Dr Matthew Opoku Prempeh, commended the company for its sterling performance during the year under review. He also said the government was sparing no effort at ensuring that BOST was resourced to hold stocks to fulfil its mandate.
He lauded SIGA for the support to the SOEs and ensuring that they operated profitably and adhered to good corporate governance practices. He said the era of government investing millions of cedis into the SOEs for them to make losses was a thing of the past now and that government was looking forward to the SOEs to make profits so they could pay dividends to the state.
Ambassador Edward Boateng on his part, further reiterated government’s commitment towards supporting SOEs growth, which is demonstrated by the formation of the State Interests and Governance Authority (SIGA). As a central oversight body, SIGA remains dedicated to a continued partnership with BOST on its turnaround strategy.
Going forward, I remain optimistic that BOST on this new path will continue to create a lasting value for all its stakeholders, inching ever closer to realising its vision of being the number one fuel and logistics company in the sub-region, he added.