Company news
Aug 29, 2025
2 min read
BOST Holds 2025 Annual General Meeting, Reaffirms Commitment to Operational Excellence and Sustainability
BOST held its 2025 AGM on August 27 in Accra, bringing together key stakeholders to review progress and reaffirm its strategic direction. The Energy Minister praised recent operational gains and urged alignment with Ghana’s green transition. SIGA emphasized profitability and accountability, while BOST reiterated its commitment to infrastructure, digitalization, and energy security.
By Citi Newsroom
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Published Aug 29, 2025
The Bulk Energy Storage and Transportation Limited Company (BOST) held its 2025 Annual General Meeting (AGM) on Wednesday, August 27, 2025, at its Head Office in Accra.
The event convened key stakeholders, including the Honourable 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 and the Ghana Audit Service, as well as BOST’s Board members and executive management.
Delivering the keynote address, the Honourable Minister commended the Board—chaired by Professor Saint Kuttu—and the Management team led by Managing Director Mr. Afetsi Awoonor, for their outstanding efforts over the past seven months in driving operational efficiency across the company.
He encouraged BOST to strengthen its strategic positioning within the petroleum downstream value chain and emerge as a leading supplier in the sector. He further urged the company to accelerate innovation and investments aligned with the government’s green transition agenda, stating:
“By integrating sustainability into its core business, BOST can lead the way in building a cleaner and more resilient energy future for Ghana.”
Representing SIGA, the Director-General underscored the importance of profitability and dividend declaration to the Government of Ghana by the close of the 2025 financial year. He emphasized that the performance contract signed between SIGA and BOST requires demonstrable progress in cost optimization, revenue growth, and asset maximization.
He added:
“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, Professor Saint Kuttu reaffirmed BOST’s commitment to its core mandate of safeguarding Ghana’s strategic petroleum reserves and ensuring robust storage and transportation infrastructure. He highlighted ongoing investments in infrastructure rehabilitation, digitalization, and strengthened governance practices at the board level.
The event convened key stakeholders, including the Honourable 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 and the Ghana Audit Service, as well as BOST’s Board members and executive management.
Delivering the keynote address, the Honourable Minister commended the Board—chaired by Professor Saint Kuttu—and the Management team led by Managing Director Mr. Afetsi Awoonor, for their outstanding efforts over the past seven months in driving operational efficiency across the company.
He encouraged BOST to strengthen its strategic positioning within the petroleum downstream value chain and emerge as a leading supplier in the sector. He further urged the company to accelerate innovation and investments aligned with the government’s green transition agenda, stating:
“By integrating sustainability into its core business, BOST can lead the way in building a cleaner and more resilient energy future for Ghana.”
Representing SIGA, the Director-General underscored the importance of profitability and dividend declaration to the Government of Ghana by the close of the 2025 financial year. He emphasized that the performance contract signed between SIGA and BOST requires demonstrable progress in cost optimization, revenue growth, and asset maximization.
He added:
“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, Professor Saint Kuttu reaffirmed BOST’s commitment to its core mandate of safeguarding Ghana’s strategic petroleum reserves and ensuring robust storage and transportation infrastructure. He highlighted ongoing investments in infrastructure rehabilitation, digitalization, and strengthened governance practices at the board level.