Tema Oil Refinery (TOR) has placed second in Ghana’s inaugural Public Financial Management (PFM) Compliance League Table, released on Thursday by the Ministry of Finance, marking a strong showing in a nationwide audit of public institutions.
The ranking, covering 101 entities under the PFM Act, 2016 (Act 921), assesses how effectively institutions adhere to rules governing the use of public funds, in what officials describe as a landmark push for transparency and accountability.
TOR’s position among seven “highly compliant” institutions comes amid its operational recovery, following the resumption of crude oil processing in December 2025 after years of inactivity.
Managing Director Mr. Edmond Kombat said the recognition reflects deliberate reforms to strengthen internal financial systems alongside efforts to rebuild refining capacity.
The energy sector dominated the top tier, with the Ministry of Energy and Green Transition, Ghana National Petroleum Corporation, and the Petroleum Hub Development Corporation also ranking highly.
The Environmental Protection Authority topped the overall table, while the Finance Ministry itself ranked fifth, underscoring mixed compliance across government bodies.
A total of 53 institutions were rated compliant, including the Ghana Airports Company Limited, National Petroleum Authority, and Securities and Exchange Commission.
Meanwhile, 22 entities were deemed moderately compliant, and 19 including the Ghana Revenue Authority, Korle Bu Teaching Hospital, and University of Ghana received the lowest ratings.
Authorities say they will engage underperforming institutions and enforce corrective measures to address persistent non-compliance.
For TOR, the ranking is expected to bolster investor confidence as it expands capacity through new infrastructure, aiming to increase output from 28,000 to 45,000 barrels per day, with longer-term plans to reach 60,000bpd.