GOIL won’t give up ground as Star Oil battles for market share, says Edward Bawa

The Chief Executive Officer of GOIL, Edward Bawa, has praised his counterpart at rival fuel marketing company Star Oil, Philip Kwame Tieku, describing their relationship as healthy despite the fierce competition between the two companies. Mr Bawa said GOIL and Star Oil are competing for the same customers, with both companies deploying different strategies to strengthen their positions in the fuel market. Speaking on Joy News’ PM Express Business Edition on Thursday, he said the relationship between the two companies has remained strictly businesslike.

“Our relationship has been businesslike. All of us are competing for the same market, and we are using the strategies we find best to win that customer. I wish my brother [Philip Kwame Tieku] the best of luck, but GOIL will be a tough nut to crack.” The comments come against the backdrop of an increasingly competitive fuel market, with GOIL and Star Oil among the major players competing aggressively on pump prices to attract motorists.

In recent times, Star Oil has emerged as a strong challenger in the retail fuel market, using competitive pricing to put pressure on established operators such as GOIL to protect their market share. Despite the commercial rivalry, Mr Bawa said there is no personal animosity between him and Mr Tieku. He disclosed that although the two executives have never met physically, they maintain a relationship through social media.

“Surprisingly, we have never met, but at least we have a social media relationship, and that’s well. And to be very frank, I was touched when he wished me happy birthday on my birthday.” According to the GOIL CEO, the gesture demonstrated that business competition need not undermine personal relationships. That irrespective of the fact that we are combatants in the business world, on a personal level we can still be friends.

GOIL is ready for a tough fight to retain its position in Ghana’s fuel market as competition from Star Oil intensifies, Chief Executive Officer Edward Bawa has said. The two oil marketing companies have been engaged in a price battle as they compete aggressively for customers in the downstream petroleum market. Mr Bawa, however, says GOIL will not easily surrender its market share to its rival.

Speaking on Joy News’ PM Express Business Edition on Thursday, Mr Bawa described the competition between the two companies as healthy, despite the intense battle for consumers. He said both companies are pursuing strategies they believe will help them win customers in an increasingly competitive market. Mr Bawa also revealed that although he has a cordial relationship with Star Oil’s Chief Executive Officer, Philip Kwame Tieku, the two have never met personally.