The Electricity Company of Ghana (ECG) has signed a memorandum of understanding (MoU) with the Korea Electric Power Corporation (KEPCO), Korea’s electricity company, aimed at promoting bilateral cooperation between the two parties in the electricity sector. Under the agreement, the two are to exchange information on the electricity sector, as well as share knowledge in … Read more
The financial, managerial and technical challenges facing the Electricity Company of Ghana (ECG) have galvanised the apostles of privatisation, anti-state ownership of business and the neoliberal-free market capitalists to strongly advocate for ECG to be privatised. Their argument is that selling ECG will make it more efficient, financially resilient and economically prosperous. ECG when privatised … Read more
Agric Minister Fiifi Kwetey has fired a gun scatter attack at the New Patriotic Party whose record he said has been abysmal. Mr Kwetey who resumed his “Setting the Records Straight” project to rebuff economic claims made by the opposition party said the NPP was not only incompetent but boosted the economy with “cocaine cash” … Read more
Uganda plans to spend at least $2 billion in the next five years to connect more people to its electricity grid and raise connection rates, a senior executive at sole power distributor Umeme Ltd said on Thursday. Ugandan officials say they want to boost electricity supply rapidly to power an industrialisation drive. In recent years … Read more
The Millennium Development Authority (MiDA) has been directed to halt all activities related to the partial privatization of the Electricity Company of Ghana (ECG) until it receives directive from the president. The Chief of Staff Mr Julius Debrah gave the directive at a meeting involving MiDA representatives, ECG management members and members of the Electricity … Read more
The General Secretary of the Electricity Corporation of Ghana Senior Staff Union says the ECG is yet to formally receive information about a fine imposed by the Public Utility and Regulatory Commission. Patrick Binyemi said apart from snippets of information they have picked from the media about the supposed fine, the regulatory body has yet … Read more
EL has premiered his much anticipated Best African Rapper tape BAR III. The featured artistes on the album include record label mates Ko-Jo Cue and Shaker. Others on the album include Nigerian rapper M. I. Abaga and legendary South African rap Khuli Chana, Gemini, Dex Kwasi, Worlasi, Edem, Cabum and many others. The album also … Read more
A former deputy Governor of the Bank of Ghana and the running mate of the NPP Dr. Mahamudu Bawumia has warned that eight banks in Ghana risks collapse due to the continuous hikes of bad loans on their books. “The asset quality review of banks, conducted in 2015, shows significant vulnerability of banks to current … Read more
Staff of the Electricity Company of Ghana (ECG) say moves by government to involve a private investor in power distribution will do little to change the often cited inefficiency of the process. National Chairman of ECG Senior Staff Association, Patrick Binyemi, wants government to expend the effort it is using to bring private investors to … Read more
The International Monetary Fund (IMF) has pressed on government to strictly follow roadmaps designed to wean state owned power companies off debts. According to the IMF, its recent discussion with government also focused on ascertaining the financial pressures faced by the main State Owned Enterprises (SOEs) in the energy sector. Currently, the Volta River Authority … Read more
Out of the over 60 companies that expressed interest in the Private Sector Participation (PSP) in the Electricity Company of Ghana (ECG), the Millennium Development Authority (MiDA) has shortlisted six, out of which one will eventually be selected as the concessionaire. Two of the companies are consortiums while the remaining four are bidding individually. The … Read more
Reigning artist of the year at the Vodafone Ghana Music Awards 2016, Elorm Adablah otherwise known by his stage name E. L is will not let go the series of BARs he has been releasing for the past years and is ready with BAR III. The Shelele hit maker who has been teasing fans of … Read more
Labour consultant, Mr Austin Gamey has attributed the impasse at the Electricity Company of Ghana (ECG) to the lack of transparency in government’s decision to cede the company to a private investor. According to him, the workers have no assurance or proper guarantee of keeping their jobs. “The future of the workers is unknown to … Read more
Finance Minister, Seth Terkper has disclosed that the Energy Sector Levy Account has accrued 350 million cedis as at August 2016. Only residential users should pay energy levies – Former AGI president He made the disclosure when he addressed the media on Wednesday, August 31st, 2016, on measures taken to address the legacy debts in … Read more
The Ministry of Finance, the Bank of Ghana (BoG), and the Ghana Bankers Association have announced plans to pay the legacy debt owed in the power sector. According to the Ministry of Finance, government has arranged with the Bank of Ghana to create an escrow account to transfer 250 million cedis to settle part of … Read more
Awo Quaison-Sackey heads AQ Solutions of New Haven, Conn., say Africa one day can rival India as a place for Western companies to set up offices to handle payrolls, entering data, word processing and other computer-based tasks. AQ Solutions has 30 of its 35 employees in Ghana, where they develop and maintain software for clients … Read more
Ghana’s Minister of Power, Kwabena Donkor signed a deal with Umar Farooq Zahoor from Oslo who is wanted by Norwegian, Swiss police and Interpol for spectacular acts of fraud committed within the last ten years. The deal is worth 510 million dollars. According to reports from the Norwegian newspaper Verdens Gang, Kwabena Donkor confirmed that … Read more
A huge explosion, followed by damaging fire at a GridCo sub-station in Sunyani has plunged most towns and communities in the Brong Ahafo Regional into total darkness. Almost the entire region has been without electricity supply for seven hours now. At least seven major towns in the region have been affected by the Thursday morning … Read more
Government has undertaken to privatize the Electricity Corporation of Ghana (ECG) as part of a condition to access the second compact of the Millennium Challenge Account worth over $500 million. It has also undertaken to adjust electricity tariffs every quarter as a condition precedent for the disbursement of the fund. These were contained in a … Read more