President Akufo-Addo has nominated Mr. Francis Boateng as the new Managing Director for the Tema Oil Refinery according to Citi News sources.
He replaces the immediate MD, Kweku Asante Berko, who resigned over allegations of his involvement in a bribery scandal by the Securities and Exchange Commission in the U.S.A.
TOR has been without a Managing Director since April 15.
Mr. Francis Boateng was until his appointment, the General Manager for Commercial Operations at the Ghana National Gas Company
He was previously engaged as a consultant, working in the capacity of Contracts and Fuel Manager during the project implementation phase of a 350MW Combined Cycle Power Plant for Cenpower Generation Company Limited (Cenpower), an Independent Power Producer (IPP) company in Ghana.
Profile of Francis Boateng
Cenpower’s project is noted as being the first private sector Greenfield project financed IPP in Ghana, and the first thermal IPP in Ghana, funded by 6 commercial banks and 6 Development Finance Institutions with a 15 year debt tenor.
Mr. Boateng’s role was primarily a commercial/technical one, requiring strong interfaces with the Legal, Finance and Technical disciplines as well as Project Sponsors and Lenders.
His responsibilities required leadership of an effective Contracts and Fuel team and encompassed the negotiation and management of Fuel (LCO and Diesel) Supply Agreement, Gas Supply Agreement, Power Purchase Agreement and EPC Contract among others.