BOST clears GH¢384 million trade debt and loan obligations - Dr. Edwin Provencal

The Bulk Energy Storage and Transportation Limited Company (BOST) has announced that it has successfully cleared 100 percent of its trade debt and loan obligations, totaling over GH¢384 million, and has increased its revenue-earning assets from 18 percent in 2017 to 98 percent in 2024.

The Managing Director of the company, Dr. Edwin Alfred Provencal, stated that BOST has seen an increase in revenue from GH¢22.7 billion from 2019 to 2023 to a total of GH¢881 million over the period.

Dr. Provencal, speaking at the Minister’s Press Briefing on November 6, 2024, attributed these achievements to the prudent governance system and efficient operational practices introduced by the Board and Management of BOST over the past four years.

“BOST is on a path to sustainability, not just in finances but in energy solutions for Ghana,” Dr. Provencal added.

The BOST MD also announced the completion of critical projects like the Tema to Akosombo Petroleum Pipeline (TAPP) and the Bolga to Buipe Pipeline, which now operate with leak detection systems to secure Ghana’s fuel infrastructure.

He believes that the completion of these projects will help BOST in curbing the illegal siphoning of fuel from its pipelines and improving petroleum security.

MA