The Chief Executive Officer of Star Oil, Kwame Tieku, has revealed plans to list the company on the Ghana Stock Exchange (GSE) at some point in the future, while cautioning that the company will require strategic structural protections to safeguard its affordable pricing business model ahead of any public offering.
In a post made on Facebook, Tieku disclosed that although Star Oil intends to go public, the company is wary of short-term profit-driven corporate investors whose interests could conflict with the company’s core mission of keeping fuel prices affordable for Ghanaians.
“We want to go public at some point but we don’t want our affordable pricing business model to be highjacked and watered down by short term ‘profit seeking’ corporate investors. It requires some strategic structural protections,” he stated.
His comments which comes after increasing calls from investing public for the company to be listed on the GSE ,signals that Star Oil’s path to the GSE will be a carefully managed one, with the company prioritising the preservation of its business philosophy over the speed of its public listing.
Star Oil Company Limited is a leading, wholly Ghanaian-owned Oil Marketing Company (OMC) established on October 7, 1998, and currently holds the distinction of being the oldest independent OMC in Ghana operating without foreign or state involvement, boasting a network of over 250 fueling stations nationwide.
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