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23.10.2019 Oil and Gas

OMCs Contributes GHC3Billion To GDP Mid-Year 2019

By Francis Ameyibor
OMCs Contributes GHC3Billion To GDP Mid-Year 2019
LISTEN OCT 23, 2019

Mr Henry Akwaboah, Managing Director, Engen Ghana Limited has touted the contributions of Oil Marketing Companies (OMCs) to the Ghanaian economy which about Ghc3billion as at June this year.

He said, on the average the OMCs through taxes paid Ghc5million to government which contributed significantly to the development of economy including other corporate social responsibility projects across the country.

Mr Akwaboah who was speaking at the sideline of the commissioning of the new Engen Service Station at Oblogo in the Weija Metropolis explained that players in the downstream petroleum sector have played key roles in the economic emancipation of Ghana.

Engen MD noted that, under the new management of Mocoh Ghana Limited which acquired 100% shares of Engen Ghana Limited in March this year, they are strategically working towards injecting in the Ghanaian downstream industry dynamism to help customers find the right solutions to the ever-changing market conditions.

“This is our fifth station since March this year bringing the total Engen Filling Stations to 27 to offer the public quality fuels, lubricants and services. It is our hope that this new addition to our existing retail network will help bring quality products and services to the motoring public,” he stated.

According to him, Engen Ghana will continue to offer time tested fuels, dynamic diesel, and primax to guarantee fuel efficiency and extend engine lifespan of vehicles and equipment of the patrons.

“Our service stations would continue to be active players along the following business lines; wholesale/B2B, lubricants, Liquefied Petroleum Gas and bunkering businesses," Mr Akwaboah emphasised.

He stressed that the company would continue to improve urging customers to have confidence in the brand.

Mr Kwame Kessie, Mocoh Ghana Managing Director, commended the Engen Management, Staff and Service Station Attendants for their contribution towards the new direction of OMCs in Ghana.

He said Mocoh Ghana together with Engen Ghana are working to increase local content in the petroleum sector. “Our ambition is to build capacity and equip Ghanaians with the international skills required to compete at all levels."

Mr. Kessie added,“We aim to run a first-class OMC, owned and operated by Ghanaians, to provide value to our customers in every part of the country”.

He explained that Mocoh Ghana, “Our plans in Ghana are to create more service stations, employ more Ghanaians, market the best products, provide the best service to our customers and share the fruit of our success with the local community”.

He indicated that the integration of a renowned downstream player such as Engen, which combines trading expertise with distribution excellence, is in line with Mocoh Group’s strategy to become a fully integrated player in Africa.

Alhaji Osman Bida, Manager of Engen Ghana Oblogo Filling Station urged players in the downstream sector to work together towards healthy environment, safety of service stations and protection of life and properties.

He also urged filling station attendants and the motoring public to adhere to basic safety measures at the stations throughout their period at the Filling Stations.

The Mocoh Group, new owners of Engen Ghana has trading, supply and distribution activities in Nigeria, Senegal, Cameroon, Togo, Benin, Burkina Faso, Mali, Democratic Republic of Congo, South Africa and Madagascar, with an ambition to cover the continent.

The Mocoh Group combines the agility of a local specialist with the rich and connectivity of a global enterprise.

The transaction agreement was signed between Engen Holdings (Pty) Limited and Mocoh Ghana Limited on March 1, 2019.


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