PETROSOL Platinum Energy PLC, one of the leading oil marketing companies has received approval from the Ghana Stock Exchange and the Securities and Exchange Commission to raise long-term capital through the Ghana Stock Exchange, Managing Director Michael Bozumbil said.
The approval marks a milestone for the company, which has evolved over two decades from a petroleum consulting firm into an indigenous oil marketing company in Ghana.
“After a thorough assessment of PETROSOL’s business, including our governance systems, our compliance level, our credibility and growth plans, the Ghana Stock Exchange and the Securities and Exchange Commission have approved our request to raise patient capital on the stock exchange for our growth,” Bozumbil said at the Ghana International Petroleum Conference in Accra.
He said the proceeds would fund the company’s long-term expansion strategy, including investments in renewable energy, solar power and electric vehicle charging infrastructure.
“We have a clear plan to grow sustainably. We will continue to look for opportunities and the right partnerships to invest in the energy sector through innovation while taking advantage of government policies to expand our operations and deliver clean, long-lasting fuel and renewable energy solutions to our customers,” he said.
Founded in 2006 as a petroleum business management and consulting firm, PETROSOL entered the oil marketing business in 2014, benefiting from government policies aimed at increasing indigenous participation in Ghana’s downstream petroleum sector.
The company now operates more than 100 fuel stations across Ghana and employs about 490 people.
Bozumbil attributed PETROSOL’s growth to corporate governance, prudent financial management and regulatory compliance despite challenging economic conditions.
He said the company has obtained three International Organization for Standardization (ISO) certifications covering quality management, occupational health and safety, and environmental management.
It has also received recognition from the Ghana Revenue Authority for tax compliance and remains in good standing with the National Petroleum Authority, the Environmental Protection Agency and the Ghana Standards Authority.
Beyond its petroleum business, PETROSOL is investing in renewable energy and plans to install electric vehicle charging stations at selected service stations as part of Ghana’s energy transition.
Bozumbil said policy consistency remains critical to enabling indigenous companies to compete with multinational firms in Ghana’s downstream petroleum sector.
“As an indigenous company that has benefited from the consistent implementation of government policies promoting the growth of indigenous private companies, we believe collaboration and policy consistency are critical to building a resilient downstream petroleum industry,” he said.
He said PETROSOL’s sponsorship of the 2026 Ghana International Petroleum Conference reflected its commitment to supporting industry dialogue and encouraging innovation, investment and sustainable growth.
Looking ahead, Bozumbil said the company would continue expanding its retail fuel network, growing its renewable energy business and creating jobs.
“We will continue to invest for growth. PETROSOL will remain a value-for-money brand, a good corporate citizen and an employer of choice. We will continue to energise dreams, ignite hope and power individuals and businesses to achieve their aspirations in an environmentally sustainable and ethical manner,” he said.
The planned capital raise is expected to strengthen PETROSOL’s financial position and broaden investment opportunities in Ghana’s capital market, the company said.
Founded in 2006, Genser Energy has grown into one of West Africa’s integrated energy companies, supplying electricity to industrial customers and utilities while investing in natural gas infrastructure.
Before Oppenheimer Partners’ investment, the company had developed five operating power plants and a 325-km natural gas pipeline network, becoming a key supplier of energy to Ghana’s industrial sector.
During the investment period, Genser expanded its infrastructure by adding about 110 km of natural gas pipeline, constructing a 200 million standard cubic feet per day gas conditioning plant in Prestea and entering Côte d’Ivoire through cross-border electricity exports.
“This transaction marks an important milestone for Genser Energy and reflects the strength of the business we have built over the past two decades,” Baafour Asiamah Adjei, the company’s founder, president and chief executive, said.
Chairman Nana Osae Nyampong said the buyback would enable the company to focus on its next phase of growth.
“As we look ahead, we remain focused on expanding our regional presence and creating long-term value for our customers, communities, employees and shareholders,” Nyampong said.
The transaction comes as infrastructure investors increasingly target Africa’s energy sector, where rising industrial demand and regional power integration are driving investment in gas pipelines, power generation and cross-border electricity trade.
Genser said it remains positioned for further expansion through continued investment in strategic energy infrastructure across West Africa.
The company operates more than 310 megawatts of installed generation capacity and owns a 436-km privately developed natural gas pipeline network in Ghana.
It is also completing major midstream projects, including a gas conditioning plant and a natural gas liquids export terminal, while supplying power to industrial customers and utilities and participating in regional electricity exports.
