GOIL Company Limited, an indigenous Oil Marketing Company (OMC), spent GH¢14.5 million in 2021 on delivering its social responsibility programmes with a focus on education, health, and financial inclusion.
In 2020, it spent GH¢9.27 million.
Mr Kwame Osei-Prempeh, the GOIL Group Chief Executive Officer, who disclosed this during the 53rd Annual General Meeting in Accra, said over the last 10 years, GOIL had devoted itself to ensuring the welfare of the communities within which it operated.
“This mandate has been executed through sustained involvement in environmentally friendly policies and procedures intended to positively impact society as contained in the company’s Corporate Social Responsibility (CSR) strategy,” he said.
Mr Osei-Prempeh said in accordance with the company’s Community and External Relations policy, GOIL remained committed to identifying the needs of deprived communities and organizations by providing them with potable water, health, and sanitation facilities to improve the well-being and quality of life of the disadvantaged.
He said GOIL was also committed to the improvement of educational outcomes by supporting inclusive and quality education, specifically the promotion of Science, Technology, Engineering, and Maths (STEM) education.
He said support was also extended to sports and the enhancement of Youth Development.
“GOIL’s commitment to these lofty goals is anchored on the United Nations Sustainable Development Goals Three, Four, and Six”.
He said the SDGs focus on Inclusive and Quality Education; Good Health and well-being; Clean Water and Sanitation for all.
On Water and Sanitation, Mr Osei-Prempeh said GOIL’s corporate social responsibility in the sector focused on the provision of boreholes.
“In pursuit of the company’s Social Investment Strategy and in line with SDG Goal 3, which emphasizes the need for clean water and good sanitation, GOIL continued with the construction of at least six mechanized boreholes in under-deprived communities in the country,” he said.
The Company constructed five more mechanized boreholes in the Oti region for the communities of Kparikpari, Yariga, Fosu and Njari Kutsa all of the Dambai Municipality as well as Nkwanta Highway in the Nkwanta Township.
About 50,000 persons were expected to access the potable water.
In addition, another borehole was installed at Fotobi in the Akuapem South District of the Eastern region.
Mr Osei-Prempeh said the Board of Directors made an assessment of the Company’s ability to continue with its activities and was satisfied that it had the resources to continue in business for the foreseeable future.
He said the Directors were not aware of any material uncertainties that may cast significant doubt about the Company’s ability to continue as a going concern.
In the year ahead, Mr Osei-Prempeh explained that the Board had a very positive view and is “confident that the bold initiatives we have outlined especially our LPG and Bitumen plants, alongside our determination to find a suitable partner to replace Exxon Mobil in our upstream endeavour are game-changers that will definitely propel GOIL to the next level.”