{
  "id": 3899175,
  "title": "Petrosol has never defaulted on bank support in 12 years, says CEO",
  "url": "https://urgent.news/2026/08/28/petrosol-has-never-defaulted-on-bank-support-in-12-years-says-ceo",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-28T05:26:16.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/petrosol-has-never-defaulted-on-bank-support-in-12-years-says-ceo/"
  },
  "original_language": "en",
  "account": "Petrosol CEO Michael Bozumbil attributes the company's growth in Ghana's competitive petroleum sector to integrity, financial discipline, and strong governance. He emphasizes that Petrosol's values-based approach has helped it earn the trust of suppliers, banks, and regulators. Mr. Bozumbil explains that the company's commitment to these values has attracted capital and built confidence among its business partners. He notes that Petrosol started with limited capital but was able to establish credibility with suppliers, who trusted that they could supply products without collateral or guarantees. Petrosol's confidence became a key factor in its growth. However, Mr. Bozumbil stresses that earning support from suppliers and financial institutions is only part of the company's strategy. He highlights that the company has also applied discipline to ensure that credit extended to it is repaid and that its finances remain properly managed. Over the past 12 years, Petrosol has maintained a strong credit record and has not defaulted on any bank support, according to the CEO. The Ghana Revenue Authority has also recognized the company's compliance, exempting it from providing an insurance bond typically required in the petroleum industry.",
  "summary": "Petrosol CEO Michael Bozumbil says the company’s rapid growth in Ghana’s highly competitive and regulated downstream petroleum sector has been driven by integrity, financial discipline and strong governance.",
  "key_points": [
    "Petrosol has maintained a strong credit record with no defaults on bank support in 12 years.",
    "The Ghana Revenue Authority exempted Petrosol from providing an insurance bond due to compliance."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Joy Business",
        "title": "Petrosol has never defaulted on bank support in 12 years, says CEO",
        "url": "https://urgent.news/2026/08/28/petrosol-has-never-defaulted-on-bank-support-in-12-years-says-ceo-3900670",
        "published": "2026-08-28T05:26:16.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}