Ghana: BOSTenergies Declares GHS 34.2 Million First-Ever Dividend After 2025 Profit Surge

Ghana’s state-owned BOSTenergies, formerly known as Bulk Oil Storage and Transportation Company Limited (BOST), has declared a 34.2 million cedi ($3,037,738.05) dividend to the government, its sole shareholder, after a strong financial performance in 2025.

The dividend, equivalent to 5% of the company’s profit after tax, marks the first time BOSTenergies has paid a dividend since its establishment.

Board Chairman Professor Saint Kuttu said the payment was a milestone for the company, which has in recent years focused on strengthening its financial position.

“The payment of the first-ever dividend in the company’s history is therefore not just a financial achievement. It is evidence of the progress BOSTenergies has made and the value that disciplined management and responsible oversight have created,” Kuttu said at the company’s annual general meeting on Wednesday.

BOSTenergies’ revenue rose to 3.81 billion cedis in 2025 from 1.29 billion cedis a year earlier, an increase of about 195%, according to the company’s financial results.

Profit after tax increased 72% to 683.96 million cedis from 398.40 million cedis in 2024.

The company’s total equity more than doubled to 1.47 billion cedis from 677.20 million cedis, while total assets increased by 50% to 3.99 billion cedis from 2.65 billion cedis.

Kuttu said the improved financial performance had allowed the company to shift its focus from stabilising operations to expanding and diversifying its business.

BOSTenergies’ 2026 strategy will focus on improving the utilisation of its infrastructure, expanding its customer base, increasing regional trade and pursuing commercially viable partnerships, he said.

“The company will move from stabilisation to expansion, from protecting its existing position to creating new sources of income, and from relying mainly on its traditional operations to building a broader and more resilient business,” Kuttu said.

He said the company would also explore opportunities beyond its traditional petroleum storage and transportation activities, while investments would be assessed based on their commercial viability, market prospects and risk.

Operational reliability remained a key priority in 2025, with BOSTenergies managing depots, pipelines, storage tanks and loading facilities that support Ghana’s petroleum-products supply chain, Kuttu said.

The company also worked to improve the use of existing storage capacity, strengthen pipeline integrity, modernise depot operations and increase the efficiency of product transportation.