Date: May - 06 - 2021 , 09:46
BY: Emmanuel Bruce
• Mr Edwin Alfred Provencal - CEO, BOST
The Bulk Oil Storage and Transportation Company Limited (BOST) has cleared all of its GH¢237 million debt owed some domestic banks in the country.
The money, which was owed GCB Bank, Fidelity Bank, UMB Bank and UBA Bank, was paid through government’s intervention, internally generated funds and the upward adjustment of the BOST margin.
In a release issued by BOST, the company noted that it had also paid $573 million out of its $623 million debt to suppliers and related parties, and successfully vetted the $36 million claims from products lost claims from Bulk Distribution Companies (BDCs) down to $14.8 million.