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Business News of Tuesday, 31 October 2017

Source: YEN

ECG workers will not be affected by privatization - Akufo-Addo


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All workers of the Electricity Company of Ghana (ECG) will not be affected by the privatization of the company, president of the republic, has stated.

Moves by the government to go in for a concession of the power distributor has erupted public argument especially from concerned workers of ECG who fear their jobs could be at stake.

Under the second compact of the Millennium Challenge Corporation (MCC II) by the American government, government's energy supply can best be stabilized should the privatization of ECG is severely considered.

Since news about the concession of ECG broke, there have been calls by workers of ECG for a special severance package that will cushion workers should there be massive layoffs in the process of the concession.

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

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