The Minister of Energy and Green Transition, John Jinapor, has urged the Bulk Energy Storage and Transportation Limited Company (BOST) to accelerate innovation and investments that align with government’s green transition agenda. 

He explained that BOST’s ability to incorporate sustainability into its core operations would be critical to building a cleaner and more resilient energy future for the country.

“By integrating sustainability into its core business, BOST can lead the way in building a cleaner and more resilient energy future for Ghana,” he said.

Mr Jinapor was speaking at the company’s 2025 Annual General Meeting (AGM) held at its head office in Accra. 

Event

The meeting brought together key stakeholders, including the Director-General of the State Interests and Governance Authority (SIGA), the Chief Executive of the National Petroleum Authority, representatives from the Ministry of Finance, the Ghana Audit Service, BOST’s Board of Directors, and senior management.

At the meeting, shareholders adopted the company’s 2024 audited financial statements. A resolution also saw the approval of a name change from Bulk Energy Storage and Transportation Limited Company to BOST Energies, a move described as positioning the company for the future.

According to the board, the rebrand reflects BOST’s renewed focus on sustainable and cleaner operations in alignment with the government’s green energy vision.

The minister further advised BOST to strategically position itself within the petroleum downstream value chain to become a major supplier, while it invested in projects that support nation’s National Energy Transition Framework.

Mr Jinapor therefore commended the company’s leadership both at the board and management levels for strides made over the past seven months to enhance operational efficiency. 

Accountability, good governance

SIGA underscored the need for BOST to achieve profitability and declare dividends to the government by the end of the 2025 financial year.

He said the 2025 performance contract signed between SIGA and BOST placed emphasis on measurable progress in cost optimisation, revenue generation, and asset maximisation.

“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,” he stressed.

The Chairperson of the board, Professor Saint Kuttu reaffirmed BOST’s commitment to its mandate of guaranteeing strategic petroleum reserves and ensuring adequate storage and transportation infrastructure.

He enumerated ongoing infrastructure rehabilitation, digitalisation, and strengthened corporate governance as the pillars driving performance improvements.

“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 organisation,” he said.

The Managing Director, Afetsi Awoonor, assured stakeholders of management’s resolve to build on recent gains to deliver sustainable growth.

He said BOST Energies would continue investing in technology, infrastructure, and staff capacity to strengthen its competitiveness and position the company as a key player in the country’s energy transition.