The Bulk Energy Storage and Transportation Limited Company (BOST) has successfully
held its 2025 Annual General Meeting (AGM) on Wednesday August 27, 2025, at its Head Office in Accra.
The meeting brought together 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, the Ghana Audit Service, the Board
members of BOST and the management of BOST.
In his keynote address, the Hon. 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, Mr. 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 emphasized 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 maximization.
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.
He remarked that “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 organization.”
The AGM adopted the audited financial statements for 2024. Also at the AGM, the shareholder of the company approved the change of name from Bulk Energy Storage and Transportation Limited Company (BOST) to BOST Energies, marking a new era for the company as it positions itself to align with Ghana’s energy transition agenda.
With this new identity, BOST Energies will continue this legacy while expanding its
focus to include sustainable and cleaner operations.
The rebrand is in direct alignment with the Government of Ghana’s National Energy
Transition Framework, underscoring the company’s commitment to supporting national and regional sustainability goals.
About BOST Energies
BOST Energies (formerly Bulk Energy Storage and Transportation Limited Company)
is Ghana’s strategic energy infrastructure company, responsible for managing the
nation’s strategic reserves, operating a network of depots and pipelines, and
ensuring reliable fuel distribution across the country.
