GOBitumen emerges as a market leader supplying major contractors—GOIL Board Chairman declares

Nana Philip Archer, GOIL PLC Board Chairman, has disclosed that GOBitumen, a subsidiary of the GOIL PLC Group since its establishment in 2024, has quickly emerged as a market leader supplying major contractors with high-quality bitumen products.

Nana Archer disclosed at the 57th Annual General Meeting (AGM) in Accra that as a result of its rapid breakthrough, the Board and Management have rolled out strategic business plans to increase its storage capacity to 12,000 metric tonnes by the end of 2026.

He said this also ties into the government's ambitious road infrastructure agenda gaining momentum: "The prospects for this business remain exceptionally bright.”

The GOIL PLC Board Chairman also described the company's achievements of 2025 as a testament to its resilience, the dedication of management and staff, the guidance of the board, and above all, the confidence and loyalty of consumers and its cherished shareholders.

“The journey ahead is one of promise and opportunity. With discipline, innovation, and unity of purpose, GOIL PLC will continue to strengthen its leadership position, create sustainable value and remain a proud symbol of Ghanaian enterprise and excellence,” he emphasized.

On GOIL PLC’s non-fuels and convenience retail business, Nana Archer revealed that it continued to show a strong upward trajectory, driven by strategic partnerships, expanded product offerings, and enhanced customer experience initiatives.

“At the same time, the Estates and IT Departments advanced key programmes in land administration, digital mapping, cybersecurity, business continuity, and systems automation, positioning GOIL as a modern, agile, and technology-driven enterprise prepared for the future,” he established.

Mr. Edward Abambire Bawa, GOIL PLC Managing Director and Group Chief Executive Officer, presenting the company’s Sustainability, Environmental, Social, and Governance (ESG) statement for the year 2025, noted that despite the challenges posed by the post-2024 elections, leadership transition issues thereafter, and corporate reshuffle requirements, which inevitably slowed our compliance and reporting processes. "We remain committed to pursuing our sustainability goals and ESG practices.”

He revealed that the reconstituted board and executive demonstrated a strong will, steadfast commitment, and absolute determination to elevate GOIL’s ESG compliance processes to a robust level, ensuring that they meet the highest standards of sustainability and responsibility in 2026 and the years ahead.

Mr. Bawa indicated that GOIL’s governance framework is designed to ensure that “we operate with integrity, transparency, and accountability," adding that the Board Committee on Risk and Compliance plays a vital role in overseeing the company’s sustainability and ESG strategic initiatives and implementation pathways.

The GOIL PLC MD further revealed that following the leadership transition, the current board prioritized ESG in all its strategic discussions, recognizing the importance of ESG compliance to our group’s long-term success and to the creation of sustainable value for all stakeholders.

“The confidence we have now is that the new Board is richly composed, comprising experienced professionals with diverse backgrounds and expertise, ensuring an all-inclusive approach to ESG thinking from the boardroom to oversight roles,” he stressed.

Additionally, Mr. Bawa indicated that the most significant progress made in 2025 is that the Board established a Sustainability and ESG technical task force within the group, which reports directly to the Group Chief Executive Officer under the oversight of the Risk and Compliance Committee of the Board.

He explained that the task force is clothed with the responsibility of developing a comprehensive “GOIL PLC Sustainability and ESG Strategy” to help monitor the company’s ESG goals, setting performance benchmarks, and reporting progress.

This mandate, according to the GOIL Group CEO, offers a momentous opportunity for the subsidiaries to formulate and implement ESG plans across the entire group that aligns with our business objectives, and ensures regulatory compliance.

On the environmental and social fronts, Mr. Bawa reported that the board recognizes the importance of reducing our environmental footprint in the global carbon emission ecosystem through the GOBitumen value chain, in particular, and has charged the taskforce to incorporate various initiatives to account for and reduce the company’s impact on the environment where it operates.

“At the same time, our social responsibility initiatives are centered around creating a positive impact on the communities we serve and ensuring a safe, inclusive, and engaging work environment.

“To that extent, GOIL is poised to pursue social performance benchmarks such as diversity, equity, and inclusion (DEI) programmes, employee engagement surveys to help gauge employee satisfaction,” he stated.

He elaborated that all the measures reflect GOIL’s unwavering efforts to enhance work-life balance and provide professional development opportunities for staff and community development projects, focusing on education, water, and sanitation, consistent with Sustainable Development Goals (SDGs) 4 and 6, already the central theme of our Corporate Social Responsibilities (CSR).

“As a group, we are dedicated to continuous improvement, transparency, and accountability in our ESG practices, ensuring that we meet the evolving expectations of our stakeholders and contribute to a more sustainable future,” Mr. Bawa stated.