Edwin Provencal, Managing Director (MD), Bulk Oil Storage and Transportation (BOST), has disclosed that the company made a profit of GH¢31 million in the 2020 financial year.
He noted that the profit was attained in 2020 through the efforts and sacrifices of staff, management and the board.
“Though we budgeted to make a loss of GHC86 million, we did not only get to zero, but we crossed zero and made GH¢31 million profit. This is your Company,” Mr Provencal, stated in a presentation in Accra, when he took his turn at the maiden weekly media engagement series for State Owned Enterprises (SOEs) in Accra.
The programme, organised by the State Interests and Governance Authority (SIGA), is aimed at enabling the SOEs’ CEOs share success stories with their various stakeholders and the citizenry.
Mr Provencal said the strategy was to enhance operational excellence and aggressively promote businesses.
“We think there is good opportunity for BOST. We think BOST can work and we know it can work because we’ve seen things turning around,” he said.
“The thing about government institutions is that when government institutions work very well, we create a private sector drive, because the private sector depends on the government.”
“So, we believe that BOST can be run like any world class organisation. It is possible. And so going forward the next four years, the focus is on operational excellence, holding people accountable and aggressively growing our business,” Mr Provencal said.