Water Company Loses ?55m Daily

While many residents in the Accra Metropolis and beyond yearn for water, the Ghana Water Company Limited pays ?55m daily to the SSB Bank Limited as interest on a ?3 million loan used for a failed project. The ?3 million was used to acquire 50 tanks against the advice of a foreign based consultancy.

The tanks have never served their purpose of storing and distributing water to specific locations within the Accra-Tema Metropolitan Area (ATMA).

Otui International, a French based consultancy firm, after a survey to determine efficient methods to expand the water distribution network in the ATMA had recommended the expansion of existing dams and systems to produce more water.

The GWCL management in the year 2000 however chose against the Consultancy report and bought 50 tanks meant to store and distribute water. The tanks which were placed at various locations including Accra Girls? campus and John Teye School area have never collected and distributed water since they were purchased some two years ago, while good money keeps going down the drain.

The GWCL Managing Director, Jonathan Nunoo said in an interview that servicing the loan on a daily basis is draining the company?s account. He said the GWCL has therefore pleaded with its sector Minister to negotiate with the Finance Ministry to enable the government to take up the payment of the loan.

Mr Nunoo said the tanks which were constructed in the year 2000 and commissioned in the January 2001 have never served any purpose. According to him, the tanks were supposed to store water and serve customers but there is no adequate water for distribution let alone to be stored.