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Business News of Monday, 20 November 2017


ECG privatisation good but poorly handled – Pelpuo

Electricity Company of Ghana Electricity Company of Ghana

The Member of Parliament for Wa Central and Former Minister of State in charge of Public Private Partnership, Dr. Rashid Pelpuo has backed government to go ahead with the privatisation of the Electricity Company of Ghana (ECG) under the Millennium Challenge Power Compact agreement.

According to him, the move will be in the best interest of the company and the Country as a whole.

Workers of ECG are demanding a severance package before the planned privatisation of the company.

Speaking in an interview with Class Business, Dr Pelpuo believed lack of sensitisation is one major reason for the delay with the implementation of the agreement.

He said: “There is a lag somewhere, people have not been sensitised enough, educated enough to understand that privatising ECG will do better for Ghanaians and will make Ghanaians better. That sensitisation hasn’t gone far enough so people are going to resist like we are seeing the resistance right now. But all along from the very inception of ECG to date people have seen more failures than success and the question is why are we failing? Is it because of money to inject into it or because of management? Many think it’s because of management and if it’s because of management, let’s inject some private management into it and see how it goes and that is the spirit behind the private sector initiative and management of ECG. I think there is some wisdom in it except that it has been poorly handled.”

Under the new Millennium Challenge Power Compact agreement program, Ghana will receive a $469,300,000 with a new ECG management.

The aim of the Ghana Power Compact is to create a financially viable power sector to meet the current and future needs of households and businesses, and to help fight poverty across the country.