Gov't only interested in 10% "kickbacks" - Wayo

The Energy Crisis - Kofi Wayo Goes Berserk, Says Gov't Can't Solve Problem

According to him, the energy crisis was a "national tragedy" but the government had refused to acknowledge this and rather continued to collaborate with its foreign partners to import machines that could not help in resolving the problem except lining pockets of government officials with 10% kickbacks.

Kofi Way, who was speaking in an interview with Skyy Power FM in Takoradi last Saturday night said when the US government was confronted with same crisis some few years back, the Bush administration acknowledged that there was a problem and consequently set up a taskforce to handle the situation which they did with perfection. He regretted that here in Ghana, the Kufuor administration has failed to acknowledge that we have a problem let alone taping the knowledge of his opponents in dealing with the situation.

He alleged that foreigners who have invested in our energy generation sector transferred approximately $40 million a month profit from Ghana.

He noted that investors like this would never advised the government to go in for machines that would bring the crisis to an end but those that would prolong the situation for them to profit from it.

Wayo further said if he were in charge of this country he would have gone in for steam engine, which would take about two years to install. He would then zone the country into three zones with each zone having its own steam engine.

The Akosombo dam would then be used as a back up to ensure that power was available all year round. He said he had a lot to offer this country but regretted that anything he came up with suggestions officialdom rubbished it because of their claim that he was a mad man.

When his host asked him why he had not taken advantage of the favourable investment avenues in the country to also invest in the sector, Wayo said he would not do that because the government would frustrate him. He alleged that he brought a whopping $800 million to invest in the energy sector but the government frustrated him to abandon the idea.

He said he could have easily secured about $100 million now from the US banks to invest in the energy sector but the private investment in Ghana was not conducive at the moment and that no US bank would risk doing that.

According to him the US state department report for 2006 has cautioned US investors be careful when investing in Ghana.

Reading from the alleged report on air he said the US government had cautioned its citizens that they would not get the same legal support as they would have received in the US and that the legal system turned to favour Ghanaians.

According to Wayo the report further stated that Ghanaians have been using dubious means to get their business partners arrested. He dared those who would doubt the report to personally visit the US embassy in Accra for the verification. "All what I saying is that there is no favorable avenues for private sector investment under this government as they are claiming," he added.

Wayo also contended that the petroleum sector has not completely been deregulated. He said if we are talking about deregulation then the petroleum companies should be allowed to set their own prices but the opposite is the case.

According to him it was the government that set up the National Petroleum Authority and the appointment of its members.

He promised that when Ghanaians voted his party to power, he would pursue policies that would benefit the country and not indulged in corruption and kickbacks as the present government was doing.