PDS finally takes over ECG

The Electricity Company of Ghana will be handing over operations of the company to Power Distribution Services (PDS) on Wednesday, 27th Februray, 2019.

By this, PDS will be the new owners and directors of the company.

The scheduled takeover which was to have occurred on 1st February 2019 was postponed by the Millennium Development Authority (MIDA) due to certain lapses that needed to be clarified to ascertain a smooth handing over of the company.

PDS is expected to turnaround the operations of ECG to make it profitable.

In addition, the new management will improve access to electricity while cutting down on waste in the system to block all leakages that drain the financials of ECG.

One major huddle that PDS will have to overcome is how to clear all debts owed ECG by the government through its state agencies and departments, as well as Ministries.

Background

The journey to get a private sector player to manage the affairs of the ECG started after Ghana won the power compact two which is expected to inject some 900 million dollars into the ECG.

Ghana signed the Power Compact with the United States of America acting through the Millennium Challenge Corporation (MCC), an independent United States government agency, on the sidelines of the US Africa Leaders’ Summit in Washington DC on August 5, 2014

Under the Power Compact, six projects are being implemented to address the root causes of the unavailability and unreliability of power in Ghana.

The project includes ECG Financial and Operational Turnaround Project, NEDCo Financial and Operational Turnaround Project, Regulatory Strengthening and Capacity Building Project, and Access Project.

The rest are Power Generation Sector Improvement Project and Energy Efficiency, and Demand Side Management Project.

By: Jessica Ayorkor Aryee

ABOUT: Nana Kwesi Coomson

[email protected]

An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.

View all posts by: Nana Kwesi Coomson  

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