TotalEnergies Marketing Ghana PLC held its 49th Annual General Meeting at Movenpick Ambassador Hotel on Thursday, 26th June 2025, to account to its shareholders on the company’s performance for the year ended 31st December 2024.
Presenting the Annual Report and Audited Financial Statements of the Company for the year ended 31st December 2024 on behalf of the Board, the Chairman, Philippe Ebanga, highlighted that the Company’s profit after tax amounted to GH¢291 million for the year ended 31st December 2024, up from GH¢169 million in 2023. The good performance is attributed to cost discipline and a robust operational strategy.
He highlighted that the company prioritises good corporate governance by upholding transparency, accountability, and compliance; preserving shareholder interests; ensuring long-term sustainability through robust internal controls; regular Board and Audit & Risk Committee meetings; compliance with laws, regulations, and company policies; and a zero-tolerance for non-compliance.
Mr. Ebanga announced that the company achieved notable health and safety milestones in 2024, including ISO 45001 certification for occupational health and safety, 2798 working days with zero fatalities, and successful audits of contractors and transporters. It recognised and awarded outstanding performers, including transporters, drivers, and suppliers, highlighting its commitment to safety and creating a culture of collective responsibility.
He informed shareholders that the company’s focus on safety had created a culture of collective responsibility, reflected in its slogan “Safety for me; Safety for you, and Safety for all”.
Mr. Ebanga added that the company emphasises the importance of Environmental, Social, and Governance (ESG) for long-term sustainability.
The firm’s key initiatives included “Our 5 Levers for Sustainable Change” under the Sustainab’All program, focusing on 1. Energy consumption, 2. Carbon emissions, 3. Environment, 4. Communities and 5. Care. The company had implemented environmental and social risk management activities such as conducting societal risk assessments to protect human rights and well-being and solarizing its service stations to reduce carbon emissions and support TotalEnergies’ Net Zero 2050 ambition.
The Chairman informed Shareholders that the company’s CSR activities are positively impacting Ghanaian society through its Young Dealer Scheme which has supported over 232 young dealers and created employment for over 4,500 Ghanaians; TotalEnergies Startupper of the Year Challenge which has so far provided financial support, publicity, and coaching worth over GHS4.8 million to over 60 Ghanaian youth; and the Young Graduate Scheme which has offered managerial training and coaching to 39 young graduates from Ghanaian public universities. These initiatives promote local content, economic development, and make a positive impact on the lives of Ghanaians.
Concluding his statement to shareholders, Mr Ebanga mentioned that the Company ranked 16th in Ghana’s Club 100 and 2nd Best Company in the Energy and Utilities Sector. The Managing Director, Olufemi Babajide, was crowned CEO of the Year (Downstream). These awards recognize the Company’s performance, product quality, and leadership.
Responding to some questions from shareholders, the Managing Director attributed the company’s good performance to its robust business model, which has remained effective despite challenges in the business environment.
Shareholders voted to receive and adopt the Reports of the Directors, Auditors and the Financial Statements of the Company for the year ended 31st December 2024 and approved a final dividend amounting to GH¢287.123 million, representing GH¢2.5665 per share.
In addition to an interim dividend of GH¢0.6580 per share paid already to shareholders this total dividend for shareholders for the year ended 31st December 2024 summed up to GH¢360.736 million, representing GH¢3.2245 per share.
This is a 186% increase compared to 2023 and a dividend yield of 24.58% for the year 2024 compared to 12.52% in 2023.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
