ENGEN Ghana limited, one of Africa’s foremost providers of petroleum products and services says it is targeting to become the leading downstream company in the sub-Saharan region by 2016. Engen is an Africa-based energy company focusing on the downstream refined petroleum products market and related businesses. The company’s core functions are the refining of crude oil, the marketing of refined petroleum products and the provision of convenience services via an extensive retail network. ENGEN has presence in 18 countries in sub-Saharan Africa. Speaking at an appreciation dinner for its customers in the Western Region, the Managing Director of ENGEN Ghana Limited, Mr. Henry Akoboah said the company’s profit for the year 2011 went up by 50 percent. The lubricants specialist however expects higher returns this year with strategies mapped out to break new grounds. “The vision of the company is to become the number one downstream company in sub-Saharan Africa by 2016. This means that we are going to increase our market share and our presence. That is the reason why we also acquired Chevron’s assets in seven countries to expand our operations in the sub-region. What it means for Ghana is to control 10% of the market by 2016” Mr. Henry Akoboah noted. The Retail and Property Development Manager at ENGEN Ghana, Agbeko Lutsu told Maxx Business the company as part of its growth strategies for this year, will be setting up two more fuel stations in the Western Region, precisely in Takoradi and Tarkwa. Mr. Lutsu said ENGEN Ghana Limited was putting in place several initiatives aimed at serving its clients better. One of such initiatives is the decision to allow Engen’s loyal customers to purchase products on credit and pay within 30 days. He said the move enjoyed in ENGEN outlets in other parts of the country, will be rolled out in the Western region before the end of this year. According to him, careful scrutiny was being done to ensure that the risk involved in the innovation is well managed for perfect execution. The Retail and Property Development Manager also hinted of Engen’s intentions to take part in the booming oil and gas industry. He disclosed that Engen Ghana was recently invited by the Ghana National Gas Company (GNGC) on a tour of the site for the proposed Gas processing plant in the Western Region, adding that aside retail, Engen will be taking part in the upstream oil and gas activities. “We were invited by the Ghana national gas company alongside other industry players and association of oil marketing companies. We’ve informed our principals of the business prospects and we are waiting for the gas company to map out the project well enough and we will also know where we can also invest”, he said.