Goil Ghana Limited has promised its shareholders good financial outturn ahead of the company’s Annual General Meeting (AGM).
In 2014, Goil made a profit after tax of GHS 20,165,593 and paid its shareholders a dividend of Gh¢0.020 per share, amounting to GH¢5,044,469.76 for the year 2014.
Speaking to Citi Business News at the outdooring of the boxing legend, “Professor” Azumah Nelson as a brand Ambassador for the company, the Managing Director of Goil, Mr. Patrick A. Akorli stated that the introduction of the deregulation policy has shot the company’s market share in the petroleum retail sector from 14% to 20%.
“We don’t want the downstream petroleum industry to be taken over by multinational companies, otherwise a lot of the smaller ones will be muscled out”, he warned.
Mr. Akorli maintained that the growth in market share is a positive development for the country since it protects small Oil Marketing Companies (OMCs) in the country from being taken over by multinational companies.
Touching on the decision to use Azumah Nelson as a brand ambassador, Mr. Arkoli explained that the partnership will encourage Ghanaians to identify with an indigenous company such as Goil, and patronize Goil products.
He stated that Goil admires the laurels chalked by the boxing professor, hence the decision to make him the “Face of Goil”.
On his part, Azumah Nelson encouraged Ghanaians to patronize Made-Ghana goods to help local companies such as Goil to grow.
Touching on the deregulation policy introduced in 2015 to allow OMCs to determine ex-pump prices, the Greater Accra Regional Minister, Nii Laryea Afotey Agbo lauded the decision as a good move that has benefited the industry.
“Although it is less than a year to assess its impact, it cannot be doubted that the effects have been largely positive for the consumer”, he said.
By: Lawrence Segbefia/citibusinessnews.com/Ghana