Managing Director of Tema Oil Refinery (TOR), Edmond Kombat has announced plans of the refinery going public on the Ghanaian Stock Market.
This was disclosed during a visit by an International Monetary Fund (IMF) delegation led by the Fund’s Ghana Resident Representative, Dr Adrian Alter.
According to Managing Director, this moves comes
as management seeks fresh investment while pursuing the restructuring of an inherited debt burden of approximately $517 million.
Edmond Kombat also added that the potential stock market listing aims to let Ghanaian institutions and other investors own shares in the refinery while’s also providing capital for operations and expansion.
The Managing Director also revealed to the l the delegation that management had relied on internally generated funds since he took office in May 2025.
“Since this new management took over, we have not received a dime from government. Every single thing is done through our internally generated funds,” he said.
The IMF delegation visited the refinery to assess rehabilitation works and understand efforts to restore sustained operations and financial stability.
The engagement formed part of the IMF team’s discussions with government authorities and selected state-owned enterprises.
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