The Managing Director of the Bulk Oil Storage and Transportation (BOST) Company Limited has emerged as the Public Sector Global ‘CEO of the week’. He is our CEO from the week of September 30th to October 6th, 2023.
Appointed in August 2019, Edwin Alfred Provencal has transformed the company from a state of severe indebtedness to a highly profitable one. For over 2 decades of experience in Executive Management, Alfred Provencal’s vigour for excellence has been well depicted in his operations.
Before resuming his current role as the Managing Director of the Bulk Oil Storage and Transportation (BOST) Company Limited, he served as the Technical Advisor to the then Minister for Energy, Hon. John Peter Amewu, now Minister for Railway Development and MP for Hohoe Constituency.
He has substantially held many managerial posts in various organizations including serving as Chief Executive Officer (CEO) of Vodafone Wholesale/National Communications Backbone Company and Director of Strategy in Vodafone Ghana. Under his leadership, Vodafone leapfrogged from #3 to #2 in Revenue Market Share in the telecoms industry.
His administration in April 2023 led to the signing of an MoU with the Ministry of Education to offer a Ghc1.5m Scholarship to 50 Students to pursue Engineering.
This decision aligns with his aim of serving the company, the young and old through the company’s corporate social responsibility.
The sponsorship package according to the company is Ghc1.5 million covering accommodation, tuition, a laptop and a stipend to support the 50 selected students to pursue their respective courses for four years. Each of the selected students in the scholarship scheme gets Ghc7, 500 a year.
With such dedication to the course, the company has gone through a transforming period of restoring its business model, which involves the effective utilization of our strategically located fuel depots connected by a network of pipelines and barges. The revival of these assets has enabled it to deliver fuel products securely and cost-effectively to consumers across the country.
Through his constant push to enhance the work culture and develop innovative and inexpensive methods for the operations of the company, its net profit in 2022 increased by 112% and is currently at GH₵342m.
“The transformation that BOST has undergone over the past three years is truly remarkable. The company has been turned from a heavily indebted one to a highly profitable one. In 2022, BOST increased its net profit by 112% to GH₵342 million from GHS161 million in 2021. This performance should be viewed in the context of a miserable run of losses which had been recorded for more than a decade until 2021,” the company said.
Amongst other necessary calling aspects of the company’s operations, his administration has set out on its journey to expand Ghana’s current strategic reserves from 6 weeks to 12 weeks.
“I do not doubt that with my enthusiasm, experience and love for our country, my team and I will build a formidable institution that will become a reference point for industry players within Africa,” he said.
In April 2023, he was conferred with an Honorary Degree of Doctor of Advanced Studies (DAS) in
“Business Administration” by the Universidad Azteca, Mexico.
He was recently named the Public Sector CEO of the Year at the 4th Africa Public Sector Conference and Awards held in Kenya.
The highly rated CEO of the week is a weekly accreditation of top-performing CEOs whose policies and leadership have brought transformation to society. This publication is targeted at showcasing the achievements of CEOs across the world.