Bussiness
ZEN Petroleum ranked among Africa’s fastest growing companies for 2022
ZEN Petroleum, a wholly-owned Ghanaian Oil Marketing Company (OMC), has been named one of the 75 Fastest Growing Companies in Africa for 2022.
The inaugural Financial Times (FT) annual ranking, which ranked ZEN Petroleum in the 28th position of Africa’s Fastest-Growing Companies provides a snapshot of the corporate landscape on a continent where technology, fintech and support-service businesses have had to adapt to a radically altered environment.
According to the FT ranking, the Ghanaian energy company recorded an absolute growth rate of 159.6%, while its Compound Annual Growth Rate (CAGR) stood at 37.4% as against the 7.99% minimum CAGR required to be included in this year’s ranking.
The inaugural FT list was compiled with Statista, a research company, and ranks African companies by their CAGR in revenue, between 2017 and 2020. One of the areas ZEN Petroleum ranked high is strong revenue performance.
The company recorded significant revenues of $418.8 million in 2020 compared with $207.5 million in 2017.
The ranking lists 75 companies, ordered by the highest CAGR in revenues between 2017 and 2020, based on the criteria including revenue of at least $100,000 generated in 2017; revenue of at least $1.5 million generated in 2020; being an independent company (not a subsidiary or branch office of any kind), and a company with operational headquarters located in one of the African countries.
The calculation of company growth rates is based on the revenue figures submitted by the companies in their respective national currencies. The revenue figures were then converted into US dollars for better comparability in the ranking. According to the FT ranking, the average exchange rate for the financial year indicated by the company was used for this purpose.
The project
Additionally, the project was advertised online and in print, allowing all eligible companies to register online via Statista or the Financial Times between October 6, 2021, and February 15, 2022.
The process required submitted revenue figures to be certified by the chief executive, chief financial officer or an executive committee member of the company.
Following the application phase, Statista examined the officially stated revenue data of about 900 public companies in Africa. High-profile companies that met the criteria for inclusion were added to the list (27 in total).
The data were collected through research using official sources, such as publicly available earning presentations, investor relations websites, or annual reports.
About ZEN Petroleum Limited
ZEN is a wholly-owned Ghanaian Oil Marketing Company (OMC) that within ten years has established itself as the market leader in supplying Fuel and Lubricants to mines in Ghana.
ZEN has consistently proven to be a reliable, safe, and valuable partner in supplying high-quality hydrocarbon products to the industrial and retail sectors in Ghana and continues to innovate towards establishing a growing, world-class retail network, driven by a diverse local team of passionate experts.
ZEN is committed to locally-driven business solutions, respecting local customs, and adhering to our core values, while maintaining a global outlook, international standards and the provision of quality products and services. For more information, please visit www.zenpetroleum.com
Source: Starrfm.com.gh
Ghanaian dancehall artiste Charles Nii Armah Mensah, known as Shatta Wale, has won two awards at the 43rd International Reggae and World Music Awards (IRAWMA) held in Florida over the weekend.
He picked up the Best African Dancehall Entertainer award as well as Concert of the Year for ShattaFest.
In a statement, Shatta Wale’s management expressed appreciation to the organisers and supporters of the awards.
“Management would like to sincerely appreciate the organisers of the IRAWMA awards for the recognition and continuous support for African music on the global stage.
“We also extend our deepest gratitude to fans across the world, especially the Shatta Movement fraternity, for their unwavering support, votes, and dedication throughout the years,” the statement said.
The statement added that the latest wins reaffirm the artiste’s position as one of Africa’s leading musical exports and a prominent figure in global dancehall culture.
The awards bring Shatta Wale’s total haul at the IRAWMA to 11, highlighting his continued presence on the international reggae and dancehall scene.
At last year’s edition, he won three awards: Best African Dancehall Entertainer, Best Music Video for “Killa Ji Mi”, and Best Crossover Song for “Commando” featuring Bounty Killer. -GNA
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
