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 COMPANY PROFILE
 BRIEF HISTORITICAL DEVELOPMENT AND CORPORATE STRUTURE
Ghana Oil Company Limited (GOIL) was incorporated on June 14, 1960, with Agip SPA of Italy as the Sole Shareholder to market petroleum products.
The government of Ghana however acquired a 100% ownership in 1974. Thereafter GOIL has expanded its operations and is currently counted among the leading companies in Ghana.
GOIL has a nine-member Board of Directors including the Managing Director. The Management team comprises the Managing Director, two General Managers responsible for Operations & Marketing and Finance & Planning.
The other line Managers who head various departments are the Administrative Manager, Chief Internal Auditor, Solicitor Secretary, National Sales Manager, Operations Manager, Information Technology Manager, Corporate Planning Manager and the Finance and Accounting Manager.
NATURE OF BUSINESS
It’s core business activities are the purchase, storage, distribution and sale of petroleum and petroleum products. Products include Gasoline, Gas Oil, Diesel Bunkering, Fuel Oils, Lubricants, LP Gas and so on.
In line with its business, GOIL (the largest independent Oil marketer) operates an extensive network of Filling and Service Stations throughout the country.
Several towns and institutions depend on GOIL for their petroleum-generated energy requirements. Much of this nation-wide spread of Service Stations has been refurbished with new ones being built. GOIL is relentless in realising its corporate desire of keeping customers delighted by providing quality service in a pleasant atmosphere.
With this in mind, the concept of the GOIL Convenience-Shops was launched. The C-Shops have been designed to make shopping easy, pleasurable and economical and together with the visual re-imaging of GOIL outlets are part of strategies adopted to provide deluxe services to customers.
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There is also the GOIL Transport Company (GOTRACO), a subsidiary which carts products to the consumer. Apart from the direct services to customers, GOIL is involved in many of Ghana’s energy related programmes. GOIL’s participation was and is the key to the successful implementation of these interventions which help to improve the quality of life in the country.
SOCIAL PROJECTS
Corporate responsibility is highly valued at GOIL. Several socially beneficial cause and programmes are supported annually. These range from donations to organisations, including Korle-bu Teaching Hospital, Weija, Zongo and Mallam Leprosarium.
In the field of sports, the Company has sponsored TV/Radio Coverage of sporting programmes including the Olympic Games, World Cup and the African Cup of Nations Tournament. Recent beneficiaries of this Corporate Philantrophy are the National Soccer Teams supporters Union who receive a morale-boosting amount of Ten Million cedis at the Accra Sports Stadium and the sponsorship pact of the 31st December Women’s Movement Children’s programme on Ghana Television.
VISION
The Company’s Vision is "To be transformed into a large, dynamic, highly efficient, and Profitable Oil Marketing Company in Ghana and within the West African Sub-region " a vision, GOIL believes should be attained.
The Company also firmly believes in the liberal economy and has accepted competition, creativity and the use of modern technology as a way forward for the country. Its support for the rural areas and participation in the LPG, Kerosene, and Premix programmes are all aimed at ensuring economic growth, equity and fair distribution of benefits of development.
AWARDS
At various times, GOIL has been honoured as the:
Best Oil Marketing Company, Best State-Owned Enterprise (1991, 1996 and second best in 1997), Producers of Best Television Advert and recently (1995/1997) rated as the 9th and 8th Best Organisation respectively in Ghana Club 100 (the ratings of 100 best organisations in the country in terms of Turnover, Net Assets, Pre-Tax Profits and Number of employees). |
© World INvestment NEws, 1999.
This is the electronic edition of the special country report on Ghana published in Forbes
December 13th 1999 Issue.
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GHANA
