Kofi Wayo still mad -I wanna buy TOR!

The Daily Guide reports that there has been a fierce bidding and counter-bidding to own shares in the Tema Oil Refinery (TOR), Ghana's only oil refinery, following a recent announcement by the government to off-load its shares in it.

The paper says its investigations show that while two foreign companies are strenuously bidding to buy majority shares to run the TOR, an indigenous Ghanaian, Charles Kofi Wayo, a self-proclaimed oil-expert, has also put in bids to buy shares to enable him to run the refinery efficiently and profitably.

Guides reports that investigations conducted to solicit views from gurus in the petro-chemical business both in Ghana, Libya, USA and South Korea show that while it would be ideal to let a Ghanaian (an indigene) to run the TOR, bids being put in by Kofi Wayo may not qualify him as an investor to take-over the management of the refinery.

Kofi Wayo, and his Oil Producers Association (OPA) Refinery and Marketing Incorporated based in Springfield Illinois, and Samsung Company of South Korea, are at the moment engaged in a fierce battle for the management of Tema Oil Refinery (TOR) on behalf of Ghanaians, according to the paper.

The Daily Guide says upon Kofi Wayo’s continued quest to acquire shares in TOR, it investigated his Oil Producers Association (OPA) Refinery and Marketing Incorporated based in Springfield, Illinois, USA.

The paper says a Christopher Homeir, the President of OPA, said in a telephone interview that their company, an internationally acclaimed oil company operating in the Middle East, Nigeria, China, Egypt, Indonesia and the USA, after an inspection of facilities at TOR, saw that the refinery has the potential to be the leading refinery in Africa, but for bad management which has left it in serious crisis.

He stated that his company is interested in TOR because Kofi Wayo, the Vice-President of OPA and owning a substantial equity in the company, is also a Ghanaian.

According to Homeir, Wayo is being patriotic by investing in TOR, and also the potential of OPA to make TOR the leading petrol chemical industry not only in Africa but the whole world.