Monday, 6th June, 2022

Page 10
Kwame Osei-
Prempeh, the Group
Chief Executive
Officer and
Managing Director
of GOIL Company Limited,
has been decorated with the
“Outstanding Group CEO of
the Year Award for Petroleum
Downstream category”.
Mr. Osei-Prempeh received
the Award at the 6th Ghana CEO
Summit which was attended
by the Vice President, Alhaji Dr.
Mahamadu Bawumia.
He was honoured for his
dedication and exceptional
leadership for the progress of
GOIL Company Limited and for
projecting the image of the Oil
and Gas Industry - Downstream
Petroleum.
Managing
Director of
GCB Bank PLC
(GCB), Mr. Kofi
Adomako,
says the arrival of the new
Development Bank Ghana (DBG)
is timely for banks like GCB and
also for the growth of Small and
Medium-sized Enterprises (SME)
in the country.
Mr. Adomako who was
speaking to the collaboration
between GCB and DBG, stated
that “DBG is actually not going
to be a commercial bank or
behave like one; rather it is
a wholesale bank and will
typically on lend, like many
other development banks, to
commercial banks to intervene
in markets.
DBG has come at the right
time in a country like Ghana.
It is true we have had other
banks who tried to play the role
of development banks but DBG
comes with a big difference.
The difference DBG brings is its
independence, governance and
the way it was set up.”
He explained that, “the
development partners that
DBG brings to the market are
immense. I think the Bank has
come at the right time and it is
going to be a different bank from
what we have seen in the past.
DBG is not going to compete
with commercial banks but it is
going to bring out the value in
commercial banks in the sense
Business
The Ghana CEO Summit
is a gathering of top CEOs
from diverse industries in
Ghana, who have led their
organizations to greater
heights. The platform also seeks
to discuss topical leadership
topics that promotes their
talents and business.
This year’s Summit was on
the theme “Digital leadership
for the digital economy:
Leading Digital Business and
Government Transformation. A
Private Sector CEO Dialogue and
Learning.
Since becoming the
Managing Director and Group
Chief Executive of GOIL in 2019,
Mr. Osei Prempeh has presided
over the steady growth of GOIL,
showing resilience, especially in
that it is going to on-lend over
much longer terms, in both
foreign currency and Cedis
which commercial banks have
lacked for a long time and has
stifled the growth of SMEs. So,
DBG coming into the market
is timely for a bank like GCB
Bank. We see them as a unique
partner, who will help us deepen
our focus in the market and
help us develop those areas in
agribusiness, ICT, tourism for
which much needed funding is
required.”
GCB has over the past
69 years built an extensive
network which has enabled it
to maintain the largest SME
portfolio in Ghana.
Through the bank’s over
184 branches and offices, it has
provided dedicated support
to the sector, significantly
contributing to the country’s
economic development. The
Bank has a Call Centre which
serves as a hub for its satellite
branches across the country and
this ensures a good engagement
with SMEs.
To make the collaboration
with DBG beneficial to SMEs, the
Bank will have dedicated officers
in its branches who will assist
SME clients. This dedicated
support would also be available
DAILY ANALYST Monday, 6th June, 2022
GOIL CEO adjudged the
best downstream petroleum
CEO of the year
the face of industry turbulence
caused by the COVID-19
pandemic.
In an interview with the
Ghana News Agency, Mr. Osei-
Prempeh commended the GOIL
Board, Management, and Staff
for their dedication to duty and
commitment to GOIL, “I share
the join with all”.
He said GOIL as the foremost
indigenous Oil Marketing
Company continues to focus on
marketing quality petroleum
and other energy products
and services in a safe, ethical,
healthy, environmentally
friendly and socially responsible
manner.
He recounted that the
Company had gone through a
series of changes, all aimed at
transforming it into an efficient
and profitable entity in the
Oil and Gas industry with the
customer at the core of its
business.
Mr. Osei-Prempeh outlined
some of the accomplishments
in recent years as the
registration of three GOIL
subsidiaries; GOEnergy
Company Limited, a Bulk Oil
Distribution Company, which
distributes petroleum products
on the Bank’s electronic
channels.
According to Mr. Adomako,
“GCB Bank collaborating with
DBG, is an opportunity to further
take advantage of our wide
branch network to reach out to
SMEs. The reach we bring to this
collaboration is immense. Also,
GCB Bank has the expertise and
experience in the SME sector
and has the largest SME book
in this country. It is therefore
an excellent opportunity to
work with DBG to deepen that
arrangement in terms of skills,
scope and in terms of the value
we bring through technical
expertise, through managerial
expertise and through capacity
building.”
The collaboration with DBG
is expected to deliver several
benefits all aimed at improving
the lot of SMEs.
It will help share risk by
channeling funds through it
to GCB and to the huge SME
clientele of the commercial
bank. It will also offer capacity
building and technical support
opportunities.
Ultimately it will help GCB’s
SME clients benefit from support
which would position them
favourably to compete on the
African continent on the back
to Oil Marketing Companies.
Others GOIL Offshore Ghana
Limited, an upstream subsidiary
that has a partnership with
Exxon Mobil Ghana Limited
for exploration operations in
Ghana’s Deep-water Cape Three
Points Bloc, and GOIL Financial
Services Limited, which
provides an electronic payment
system and aims to provide
money transfer services.
He said GOIL has a large
and growing retail network
of unparalleled geographical
spread, currently comprising
more than 400 filling and
service stations, and 150
consumer outlets spread across
the country.
The consumer outlets
include companies, schools,
hospitals, factories, hotels,
and banks amongst others.
In addition, there are several
other retail outlets established
to market premix fuel and
kerosene to rural areas.
LP Gas is sold through
purposely built filling plants,
some of which are sharing
locations with filling and
service stations in the country,
Mr. Osei-Prempeh noted.
Mr. Osei-Prempeh noted
of the African Continental Free
Trade Area (AfCFTA) and also via
other trade arrangements Ghana
is a signatory to.
Through this opportunity,
the Bank believes that its SME
clients would learn how to
compete better internationally
that GOIL’s geographical spread
places it first in terms of the
distribution of petroleum
products. “This network enables
products to reach virtually all
parts of the country timeously”.
On quality and standards,
he said GOIL is ISO 9001:2015
certified (Quality Management
System). Our ISO 9001:2015
programme was started in 2008.
“In January 2015 our
certification was approved
and a formal presentation was
done on March 12th, 2015. GOIL
is presently well prepared to
venture into international
markets, especially West Africa.
GOIL has also been certified
with an ISO 14001:2015 standard
on Environmental Management
Systems (EMS).
“GOIL finds itself in a
competitive market, more so
when the industry has been
deregulated with the number
of players increasing by the
day. Regardless, the company
continues to hold its own in
the marketing of petroleum
products and remains a key
player in the downstream of the
petroleum industry,” Mr. Osei-
Prempeh stated.
Development Bank Ghana's entry is timely
for banks, entrepreneurs - Kofi Adomakoh
and thereby improve its export
potential leading to expansion
and more jobs.
DBG will launch on 14th
June. It is expected to begin
making loan announcements in
the very near future.