Business & Finance

BOST Clarifies Cost Of 18 iPhones Bought For Staff

The Bulk Energy Storage and Transportation (BOST) Limited Company says it bought 18 iPhone 13 Pro Max phones for its staff at a cost of GHS285,412.16 and not GHS28,541,261.00 as in circulation on the social and traditional media in the country.

The company came under public backlash after a procurement report showed it bought 18 iPhones for its Corporate Executives at a cost of Twenty-Eight Million, Five Hundred and Forty-One Thousand, Two Hundred and Sixty-One Ghana Cedis (GHS28,541,261.00).

In a statement released by Corporate Communications and External Affairs Department, the company said the amount on the procurement report might have resulted from typographical error.

“The Twenty-Eight Million, Five Hundred and Forty-One Thousand, Two Hundred and Sixty-One Ghana Cedis (GHS28,541,261.00) in the report may be due to a typographical error of placing the dot(.) two steps to the right which on the face of the document converted the GHS285,412.61 to GHS28,541,261.00.”

“The total cost of the phones stood at Two Hundred and Thirty-Four Thousand Ghana Cedis (234,000.00) grossed up for taxes at Two Hundred and Eighty-Five Thousand, Four Hundred and Twelve Ghana Cedis, Sixteen Pesewas (GHS285,412.16).”

It also noted that the procurements were made 18 months ago and have been captured in the Company’s financial reports and that of the Auditor-General.

In justification for the purchase, BOST said it was to ensure efficiency in decision making among some critical staff.

“The reason for the purchase of the devices was to equip the team to stay in touch with the management information and business intelligence systems of the company for efficient decision making. In the petroleum storage and transportation space, a split second can make the difference between success and failure. The results so far attest to the efficiency of the systems put in place which includes the access points for key members of the team to access processed information for efficient decision making.”

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