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BOST profitability claim: Mahama was misinformed, says Provencal

According to John Mahama, BOST was working and making profit when he was in power, but the current MD says he was relying on the wrong data

The MD of the Bulk Oil Storage and Transportation Company Limited (BOST) Edwin Provencal has refuted claims suggesting that the company made profit in 2015 and 2016 under former president John Mahama’s tenure.

Mahama recently made emphatic claims on the profitability of BOST during an interaction with members of the Trades Union Congress (TUC) in Accra. According to him, BOST achieved net profits of GHC109.36 million in 2015.

However, speaking to Benjamin-Offei-Addo on the Asaase Breakfast Show on Tuesday (21 November), Provencal said Mahama was misinformed.

“I can understand why the former president may make that error,” the BOST boss said. “This is because normally when Ministry of Finance requests for data from institutions, the year would not have ended and the accounts unaudited.”

“After an independent auditor comes in to audit, that is when the true state of affairs may come out. So, I am sure the document used by Mahama is what is flawed. He was not told the truth, so he used that information to make that statement,” Provencal said.

Listen to Oscar Provencal in the attached audio clip below: 


Reporting by Fred Dzakpata in Accra


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