Browsing: BOST

The National Petroleum Authority (NPA) Act is currently being reviewed to support Ghana’s energy transition agenda, with the aim of…

The Accra Investor Briefing by the African Energy Chamber and the Ministry of Energy and Green Transition offers global investors exclusive insights into Ghana’s fiscal and regulatory developments since commercial oil discovery.

Repaying our debts while enhancing operations underscores our commitment to financial transparency and growth,” Mr Provencal said

The release issued last week and signed by the Managing Director, Edwin Provencal, indicated that, “the revaluation which was a deliberate decision to enhance the reporting of the company led to a deferred tax obligation of GHC292,935,973 compared to the net loss of GHC291,017,758, a difference of GHC1,918,215 (Appendix 1). The increase in the value of the revalued assets also resulted in increased depreciation charges which further reduced the bottom-line or the profit for the year. But, the ‘deferred tax obligation’ aspect beats the financial reporting knowledge of the finance expert. This led him to ask questions in awe.

Underlying Business of your company, BOST is PROFITABLE – The report of the GHC400
million losses made by BOST is not accurate. To measure the profitability and operational efficiency of a Business one must determine whether the underlying operations (core business) of the company are profitable.