PETROSOL Platinum Energy PLC, a leading oil marketing company, has received approval from the Ghana Stock Exchange and the Securities and Exchange Commission to raise long-term capital. This significant development will allow the company to secure funding through the Ghana Stock Exchange.
The capital raised will finance PETROSOL’s ambitious long-term expansion strategy. This includes crucial investments in renewable energy, solar power, and electric vehicle charging infrastructure. Managing Director Michael Bozumbil confirmed the approval at the Ghana International Petroleum Conference in Accra.
This move aligns with Ghana's broader economic narrative of fostering indigenous business growth and diversifying the energy sector. The government has consistently implemented policies to increase local participation in the downstream petroleum sector. PETROSOL, founded in 2006 as a consulting firm and entering oil marketing in 2014, has benefited from these policies. The company now operates over 100 fuel stations across Ghana and employs approximately 490 people.
Mr. Bozumbil stated that the Ghana Stock Exchange and the Securities and Exchange Commission thoroughly assessed PETROSOL’s business. This assessment included its governance systems, compliance levels, credibility, and growth plans. He emphasized that the approval signifies confidence in the company's sustainable growth strategy.
The capital raise will strengthen PETROSOL’s financial position and broaden investment opportunities within Ghana’s capital market. This will enable the company to continue its expansion of the retail fuel network and its renewable energy business. PETROSOL also plans to create more jobs across the country.
PETROSOL’s growth is attributed to strong corporate governance, prudent financial management, and regulatory compliance. The company holds three International Organization for Standardization (ISO) certifications for quality management, occupational health and safety, and environmental management. It also maintains good standing with the Ghana Revenue Authority, the National Petroleum Authority, the Environmental Protection Agency, and the Ghana Standards Authority.
Beyond its traditional petroleum business, PETROSOL is actively investing in renewable energy. The company plans to install electric vehicle charging stations at selected service stations. This initiative supports Ghana’s energy transition goals and demonstrates PETROSOL's commitment to innovation.
Mr. Bozumbil highlighted the importance of consistent policy implementation for indigenous companies to compete with multinational firms. He noted that PETROSOL’s success is partly due to consistent government policies promoting local private companies. Collaboration and policy consistency are vital for building a resilient downstream petroleum industry.
PETROSOL’s sponsorship of the 2026 Ghana International Petroleum Conference further underscores its commitment. This sponsorship aims to support industry dialogue, encourage innovation, and promote sustainable growth. The company aims to remain a value-for-money brand, a good corporate citizen, and an employer of choice. It will continue to power individuals and businesses in an environmentally sustainable and ethical manner.