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Business News of Tuesday, 13 September 2016


PPP deal for Trade Fair to conclude by end of 2016

Management of the Ghana Trade Fair Centre says it is confident government will settle on an investor to revamp the facility by the end of this year.

Citi Business News understands ten shortlisted companies; both local and foreign, are now being engaged by the transactional advisor [PwC] on site visits after which the final decision will be made on the ultimate partner for government. “The transaction advisors have shortlisted ten companies which they are engaging in the site viewing after which the process will advance on to the next stage.

I anticipate that within two weeks or a months’ time this should be completed,” CEO of the Trade Fair Centre, Dr. Ebenezer Erasmus Konney told Citi Business News.

He added, “For the whole process, I think it should be possible to be completed by the end of the year.”

Government seeks PPP

Government, in February this year, opened invitation for a Public Private Partnership in managing the Trade Fair Centre after an initial arrangement with a Dubai firm, Eagle Hills, was cancelled.

At the time, Dr. Konney explained that the Trade Minister offered for the agreement to be abrogated after the Dubai firm, Eagle Hills, failed to meet the full financial obligation of a needed amount to pay the transactional advisors.

The company has also denied earlier reports suggesting that tenants at the facility were being compelled to exit the facility to allow for renovation works.

Speaking on the latest development, Dr. Konney also maintained that the tenants will not be evicted until such a time that the process has advanced for work to commence. “Government hasn’t yet settled on a date to eject the tenants until such a time that the investor is selected to redevelop the facility. We have not yet gotten to the stage to consider those issues,” he remarked.

Responding to concerns over a possible lay off during the private partnership, the Trade Fair boss said, ‘The Company is a legal body and it is going to in existence, the staff will still be maintained.”

Negotiations over regular power supply

The Trade Fair Centre has also been battling intermittent power cut to the company over huge debts it owes the Electricity Company of Ghana (ECG).

Dr. Konney however tells Citi Business News his outfit has introduced some interim measures to ensure constant supply of electricity to occupants of the facility.

“We have not yet resolved the incremental sum; we are yet to determine how ECG came by those figures and once we get that done we will know exactly what to do. But for the time being anybody who owes money on electricity will have to pay it. After, we the facility managers will issue a receipts based on which the ECG will arrange with them and provide them with meters.”

“So those tenants who do that have their meters are those who are normally recalcitrant.”