The Board Chairman of the Ghana National Gas Company (Ghana Gas), Kofi Totobi Quakyi, has reaffirmed the company’s renewed commitment to productivity, accountability and integrity principles, which he says will define a new era of transformation and sustainable growth for the state-owned enterprise.
Delivering his address at the company’s Annual General Meeting, Mr. Totobi Quakyi described 2024 as a defining year — one marked by strong operational performance, but also by serious governance lapses identified in the audit review.
“The year gave us two faces of Ghana Gas: impressive operational achievements on one hand and governance gaps on the other.
“Highlighting these issues is not about blame, but about learning and enforcing discipline as we move forward,” he said.
Operational Highlights
The Chairman noted that Ghana Gas exceeded its 2024 revenue targets and achieved several key milestones including: The acquisition of the Ghana Cylinder Manufacturing Company to diversify revenue and support the national energy transition; Completion of a 3.8-kilometre pipeline extension to the Tema Freezones enclave to enhance industrial gas supply; A landmark Gas Sales Agreement with Tetracore Limited to launch Ghana’s first Compressed Natural Gas (CNG) project; and Progress on fundraising for the company’s flagship second Gas Processing Plant (GPP II), designed to expand national processing capacity and bolster energy security.
He also highlighted investments in staff training, community development projects, and infrastructure, including schools, hospitals, and sports facilities.
However, Mr. Totobi Quakyi said the 2024 audit revealed worrying governance and control issues such as procurement irregularities, inflated property purchases, ad hoc recruitment and weak institutional systems.
“These were not isolated lapses, but recurrent infractions with significant cumulative impact,” he warned.
In response, the new Board and Management have embarked on a major reform agenda aimed at restoring discipline, transparency and oversight.
Mr. Totobi Quakyi outlined a strategic plan anchored on three pillars – productivity, accountability and integrity – to guide the company’s operations.
He said the Board was strengthening corporate governance structures, ensuring compliance with the Public Procurement Act and Financial Management Act and clearly defining the roles of the Board and management.
Key initiatives, he listed, included driving automation and digitisation to boost efficiency, rationalising human resources to align staffing with merit and operational needs and replacing ad hoc CSR activities with structured, high-impact community programmes supported by strong project management and monitoring systems.
Energy Sector Collaboration
Placing Ghana Gas within the wider energy landscape, Mr. Totobi Quakyi stressed that the health of state-owned energy enterprises such as Ghana Gas, GNPC, GRIDCo and VRA must be viewed as a matter of national security.
He called for stronger collaboration among state players to ensure Ghana’s strategic energy assets remain resilient and not “held to ransom by private interests.”
He commended the Ministry of Energy and Green Transition for its policy guidance and the leadership of the Minister for ensuring operational stability across the sector.
Mr. Totobi Quakyi reaffirmed the Board’s determination to transform Ghana Gas into a model of operational excellence and governance.
“We are poised to deliver results anchored on stronger governance, financial prudence, and impact-driven CSR.
“Ghana Gas is a national asset, and we dedicate ourselves to its progress and sustainability in the energy sector,” he stated
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