Leading Indigenous Ghanaian Bank, Universal Merchant Bank (UMB), organized a recognition and courtesy event to celebrate the recent successes of one of its leading customers, the Bulk Oil Storage and Transportation Company Limited (BOST).
The courtesy event was not only to celebrate successes and revival at BOST lately but also included the recognition of the BOST Managing Director, Mr. Edwin Provencal as the CEO of the year for the Petroleum Sector in Ghana.
This honor was bestowed on Mr. Provencal at the recent Ghana Business Standard Awards where he was adjudged the Petroleum Sector Chief Executive Officer of the Year, 2022 at the 6th Ghana Energy Awards.
The Managing Director of BOST, one of the country’s leading CEOs, has a rich track record of delivery and was appointed the Managing Director for the Bulk Oil Storage and Transportation Company Limited (BOST) in 2019.
Mr. Provencal working under the direction of his board and with the support of his staff is reputed to have turned around the fortunes of BOST during his leadership as BOST Head.
Speaking at the courtesy event, CEO of UMB, Nana Dwemoh Benneh, said:
“We are truly proud of our relationship with BOST and the growth achieved by BOST in this relatively short period of time, under the inspired leadership of Mr. Edwin Provencal. As a Ghanaian Bank we particularly prioritize our service to Ghanaian enterprises.
“We are determined to deploy world class banking solutions to grow BOST into a leader in the Petroleum industry not only in Ghana but West Africa. This will be in line with our heritage of supporting key players in the Ghanaian economy since 1972. We are proud and happy that our banking advisory services and products have played a part in the revival and growth agenda of BOST.”Nana Benneh
In succession, Mr. Edwin Provencal expressed his immense appreciation to the bank, as well as the board and staff of BOST for their massive support, which have culminated in the achievements he is recognized for.
Mr. Provencal recounted BOST’s relationship with UMB, particularly from 2016 to date, acknowledging 2017, which marked a key point in the relationship they shared with the Bank stepping up to provide a line of credit for BOST, for BOST, marking the commencement of the revival of the company’s activities. He recalled that:
“In 2017, most banks were unwilling to engage with BOST. UMB, however, was confident in our plans and supported us, and today, we are growing from strength to strength. We will continue to rely on our growth partner, UMB, as we forge ahead to develop and thrive in Ghana.”Edwin Provencal
The recognition event was well patronized with members of both boards in attendance as well as other senior executives.
The Bulk Oil Storage and Transportation Company Limited (BOST) was formed in 1993 to keep the national strategic petroleum reserves and transport petroleum products from one depot to another throughout the country. Their strategic ambition is to become the number one fuel and logistics business in West Africa and in recent times have chalked many milestones.
Also, the Universal Merchant Bank (UMB), one of Ghana’s leading indigenous banks is a key financial services provider to BOST. The Bank was established in 1972 as a policy bank and is reputed to be a growth partner for Ghanaian enterprises. The Bank has been key in several developments in the Ghanaian financial industry including the establishment of the stock exchange.
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