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Business News Sat, 1 Dec 2018

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Fate of BXC in limbo as government delays compensation

The fate of the Management of BXC Ghana Limited and its six hundred plus workers is currently unknown as government continues to dilly-dally with their compensation for being unfairly disqualified during the ECG takeover negotiations.

It will be recalled that the BXC Consortium sued the Millennium Development Authority (MiDA) for unfair disqualification and pleaded with the court for a new process to begin, but the court ruled that the ECG PSP has timeline to be met therefore the BXC consortium should be compensated to make up for their lose.

The consortium has since been waiting for the compensations to defray the cost of participation in the PSP transaction process.

BXC Ghana, the Ghanaian partner of the consortium has since showing interest in the ECG takeover, suffered immense loses including the sudden cancellation of its existing contract with the ECG among its other dealings with the energy sector.

The company is currently struggling to pay severance packages to workers as the company is cash trapped.

Another issue that has bedeviled the takeover has been whether government or the concessionaire should manage the Bulk Energy Purchase and Trade as well as Network Assets of ECG.

Transitioning of workers to the new company has also seen challenges as some workers have refused term of their transition, describing it as unsatisfactory

Source: Mckyntosh Essuman Aidoo

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