BOST Energies Limited Company (BOSTenergies) paid GHS 34.2 million in its first-ever dividend to the Government of Ghana. This payment follows a strong financial performance in the 2025 financial year, where the company reported a profit after tax of GHS 683.96 million.
The dividend represents five percent of the company's net profit. BOSTenergies announced this at its 2026 Annual General Meeting (AGM) held in Accra on September 2, 2026. This payment marks a significant milestone for the company, 32 years after its establishment. It reflects a major improvement in the company's financial health and its ability to deliver value to its sole shareholder, the government.
This achievement comes at a crucial time for Ghana's public finances. The government actively seeks to boost non-tax revenue and improve the performance of state-owned enterprises (SOEs). BOSTenergies' dividend payment provides a direct financial injection, supporting the government's budget. Other state-linked entities like the Minerals Income Investment Fund (MIIF) also reported significant profits, indicating a broader trend of improved SOE performance. This contributes to national revenue diversification beyond traditional tax collection.
Mr. Afetsi Awoonor, the Managing Director of BOSTenergies, described 2025 as a defining year. He stated the results demonstrated the impact of commercial discipline and prudent financial management. “We delivered strong financial growth, strengthened our balance sheet and achieved the significant milestone of declaring our first-ever dividend to the Government of Ghana,” Mr. Awoonor said.
The payment of this dividend signals a positive outlook for BOSTenergies and other state-owned enterprises. It suggests that enhanced operational efficiency and financial discipline can yield tangible returns for the state. Decision-makers will likely monitor BOSTenergies' continued performance as a benchmark for other SOEs. This could encourage further reforms and commercialisation efforts across the public sector, aiming to reduce reliance on external funding and increase domestic revenue generation.
For the 2025 financial year, BOSTenergies recorded revenue of GHS 3.81 billion. This represents a 195 percent year-on-year increase, showing remarkable growth. Profit after tax rose by 72 percent to GHS 683.96 million, highlighting improved profitability. Total assets also increased by 50 percent to GHS 3.99 billion, strengthening the company's balance sheet. Shareholders' equity more than doubled to GHS 1.47 billion, indicating robust financial health. Administrative expenses declined by 28 percent, reflecting the company's focus on cost control and operational efficiency. The company attributed this strong performance to increased commercial activity and disciplined financial management. This comprehensive improvement across key financial metrics underscores a successful turnaround strategy.
Dr. John Abdulai Jinapor, the Minister of Energy and Green Transition, commended BOSTenergies' board, management, and staff. He praised their “masterclass performance” in financial growth, profitability, operational efficiency, and portfolio expansion. Professor Michael Kpesah Whyte, Director-General of the State Interests and Governance Authority (SIGA), also welcomed the improved performance. He urged the company to maintain momentum and pursue further growth, delivering greater value to the state. These endorsements from key government officials highlight the strategic importance of BOSTenergies' success.
BOSTenergies plans to continue strengthening operations, improving efficiency, and building resilience. The company aims to create sustainable value for its shareholder and other stakeholders. It will also leverage its strategic infrastructure and commercial capabilities to contribute to Ghana's energy security. This forward-looking strategy ensures the company remains a vital player in the nation's energy sector. The focus on long-term value creation aligns with broader national economic goals.