General News of Fri, 2 Oct 201512
Government shops for ECG ‘buyer’
The government of Ghana is shopping for a potential concessionaire for the beleaguered state power distributor Electricity Company of Ghana (ECG).
The move is to introduce private sector participation into the “management, operation of, and investments in the ECG through a long-term concession over ECG’s distribution business,” a public notice said.
A preferred bidder – who is likely to run ECG for 20 to 30 years - is scheduled to be announced before the end of 2016, Starrfmonline.com understands.
The International Finance Corporation (IFC) has been appointed by the Millennium Development Authority (Mida) as Transaction Advisor in relation to the implementation of the transaction.
Officials have told Starrfmonline.com the prospective concessionaire could either be a company or consortium of companies with experience in “management, operation of, and investments in electricity distribution systems.”
According to the notice in the state-owned Daily Graphic, interested parties must submit a letter expressing interest in the transaction from Mida.
Meanwhile, the ECG has debunked the assertion that the company has been sold to a private entity.
Speaking with Kasapa FM’s Maame Broni, the head of communication for ECG, Williams Boateng said none of ECG’s department has been privatised and the company is still in talks with government for the way forward.
Meanwhile, checks by our reporters indicate the revenue department of ECG has been privatised yet management remains tight-lipped on it.