ZEN Petroleum Limited is preparing to open up its ownership to the public as part of a long-term strategy to strengthen corporate governance and build a sustainable, multi-generational business.
Founder and CEO William Tewiah disclosed that the company plans to list on the Ghana Stock Exchange following internal deliberations on the advantages of becoming a publicly traded firm.
According to him, the move is aimed at reinforcing transparency, compliance, and institutional discipline while allowing more Ghanaians to participate in the company’s growth.
Mr Tewiah revealed that the company has already taken initial steps toward the listing through a private placement with institutional investors, which exceeded expectations.
“We ended up raising close to a billion—more than we needed,” he noted, describing the strong investor interest as a sign of confidence in the company’s business model and governance structure.
He added that while a portion of shares has been retained for now, plans are underway to gradually release more equity to the public. This includes the introduction of an employee share ownership scheme to deepen internal participation and align staff with the company’s long-term vision.
The CEO indicated that his personal stake in the company would eventually be reduced to about 50 percent as part of efforts to broaden ownership and ensure sustainability beyond its founding leadership.
Beyond its capital strategy, Mr Tewiah emphasised that ZEN Petroleum’s business philosophy has remained anchored on offering competitive and uniform fuel pricing nationwide.
He explained that maintaining consistent pricing across all operational areas, rather than selective regional pricing, reflects the company’s commitment to fairness and value for consumers.
He added that the planned stock market listing would not only strengthen ZEN Petroleum’s financial base but also position it as a truly Ghanaian-owned enterprise with shared prosperity among investors, employees, and the wider public.
