GOIL PLC has reported a strong financial performance for 2025, posting higher profits and securing overwhelming shareholder approval for a major GH¢1 billion fundraising initiative aimed at accelerating the company’s next phase of growth.
At the company’s 57th Annual General Meeting (AGM), Board Chairman Nana Philip Archer said GOIL demonstrated remarkable resilience and financial discipline despite challenging conditions in the global petroleum market.
He disclosed that the company recorded a 7.05% increase in Net Profit After Tax, rising from GH¢84.70 million in 2024 to GH¢90.67 million in 2025, driven by improved operational efficiency, prudent cost management, and strategic business decisions.
The Chairman noted that while revenue came under pressure from prevailing market conditions, GOIL’s focus on operational excellence enabled the company to strengthen profitability and enhance value for shareholders. This performance informed the Board’s recommendation of a final dividend of GH¢0.060 per share for the 2025 financial year.
A key highlight of the AGM was the overwhelming approval by shareholders for Management to raise up to GH¢1 billion from the bond market to support the company’s long-term growth strategy.
Explaining the rationale behind the proposed capital raise, Group Chief Executive Officer and Managing Director, Mr. Edward Abambire Bawa, said the funds would be invested in expanding GOBitumen storage facilities and LPG bottling plants to improve service delivery across the country. He added that part of the proceeds would also be used to restructure GOIL’s debt portfolio through the repayment of short-term loans, thereby strengthening the company’s financial position.
Shareholders commended the Board and Management for what they described as a significant turnaround in GOIL’s fortunes, praising the steady growth in shareholder value, improved dividends, and the company’s clear strategic direction. They also lauded Mr. Bawa for his transparency and detailed engagement with shareholders during the meeting.
The AGM brought together shareholders, regulators, members of the investment community, management, staff, and other stakeholders to review the company’s 2025 performance and chart its future direction.
With growing investor confidence, a strengthened balance sheet, and an ambitious expansion agenda, GOIL is positioning itself for sustained growth as it seeks to consolidate its status as one of Ghana’s leading indigenous energy companies.
