TOR seeks private investors to shield refinery from political interference
The Tema Oil Refinery (TOR) is working to attract private-sector investors as part of efforts to strengthen its governance structure and protect the state-owned facility from political interference. Managing Director of TOR, Edmond Kombat , says opening up the refinery to private participation through a planned stock exchange listing will help secure its future and […]
The Tema Oil Refinery (TOR) is seeking private investors to bolster its governance and safeguard the state-owned facility from political meddling. Managing Director Edmond Kombat revealed that listing the refinery on the Ghana Stock Exchange in 2028 would provide a more secure and sustainable future. The involvement of private investors, such as pension funds, could bring independent directors onto the board and enhance corporate oversight.
Kombat believes this arrangement would deter future governments from allowing the refinery to fail once more. He emphasized that the best approach for long-term sustainability is a stock exchange listing.
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