The Agapet story

Agapet Limited was set up in 2002 and commenced operations in 2003. It emerged during a period of indigenisation of the petroleum downstream sector in Ghana during which a number of indigenous companies were licensed to operate in the sector.

This was in response to growing demand for petroleum retail station services and to fill the gap left by the established multinationals that only operate in specific locations to the neglect of other locations, which equally need such services.

Agapet has actually grown faster than the promoters had envisaged. This is an enviable achievement. It is no wonder that Tema Oil Refinery (TOR) and the Bulk Distribution Companies (BDC) rated Agapet high among the Indigenous Oil Marketing Companies (OMCs), that do business with them.

Agapet has grown tremendously since its inception. From a humble beginning of three retail outlets, the company now operates a total of 35 modern fuel service and filling stations, 22 bulk consumer outlets, five LPG consumer retail stations and 15 strategically located plots of land in various parts of the country that are being developed systematically to ensure it is able to keep pace with competition and ensure market share retention.

The company is represented in eight out of the 10 administrative regions in Ghana. It has its head office at New Dawhenya, Tema and regional offices in Kumasi and Takoradi.

Under the stewardship of Mr Emmanuel Abledu, Managing Director of Agapet Limited, the management of the company has identified even more growth opportunities that need to be explored. However, in keeping with the philosophy and approach of the promoters, this pursuit of growth is being conducted in an orderly manner within the framework of well-thought out strategies and programme. The directors believe this is a way of ensuring that all success factors can be identified and incorporated whilst the risks can also be provided for, avoided or dealt with as the case may be in order to limit their negative impact on the business.

Agapet distributes and retails most of the petroleum products on the Ghanaian market including Gasoline, Gas Oil, Premix fuel, LPG, RFO and MGO. Its customers include motoring public, fishing communities as well as a number of industrial establishments. Our suppliers are the Tema Oil Refinery (TOR) Ltd and all other Bulk Distribution Companies operating in Ghana.

Agapet also deals in high grade motor and industrial lubricants and is an authorized dealer of GAZPROMNEFT range of lubricants and greases for West Africa. Gazpromneft lubes are manufactured in Russia and are designed for gasoline and diesel engines of cars, vans and light trucks. It has developed formulas based on international standards, high performance and the use of highly efficient base oils and advanced additives.

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A Business Plan has been drawn up with the assumption that Agapet runs with only its traditional source of income. It is assumed that in the long term the company will increase the proportion of its own stations to the stock of retail outlets.

Significant investments will also be made in human resources through appropriate training and retraining programme so that the staffs that drive key processes appreciate the dynamics of the business and can stay ahead of competition. The training and retraining of the salesmen, salesgirls and the pump attendants who are regularly exposed to our esteemed customers are paramount in our core business of providing quality customer care.

Our ultimate goal is to become one of the key players in the Ghanaian downstream petroleum sector by the year 2020. In this regard Agapet has developed a new business plan to capture all the new areas we are venturing into as a direct result of the de-regulation of the petroleum industry in Ghana.

In line with our corporate mission and vision we continuously seek to network with industry players and stakeholders. We strongly believe this is the only way to attain our set objectives in a relatively short time. — GB