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February 7

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Inside <strong>February</strong> 7, 2018 .qxp_Layout 1 2/6/18 7:58 PM Page 7<br />

6TH<br />

FEBRUARY<br />

2018<br />

TUESDAY<br />

CURRENCY PARIS CODE BUYING SELLING<br />

US Dollar USDGHS 4.4000 4.5600<br />

RATES Pound Sterling GBPGHS<br />

6.2200<br />

6.4000<br />

Euro<br />

GBPGHS<br />

5.4000<br />

5.5700<br />

10<br />

DAILY HERITAGE WEDNESDAY, FEBRUARY 7, 2018<br />

WWW.DAILYHERITAGE.COM.GH<br />

ECG staff assured of job security<br />

BY ROSEMOND BOATENG ADDAI<br />

Rosemond.adjetey@yahoo.com<br />

MR SAMUEL<br />

Boakye -Appiah,<br />

Managing<br />

Director (MD)<br />

of the Electricity<br />

Company of<br />

Ghana (ECG) has assured its<br />

workers and stakeholders that<br />

ECG has not been sold contrary<br />

to what others believe.<br />

The MD, speaking at the company's<br />

Golden Jubilee celebration<br />

in Accra, emphasised that with<br />

the introduction of a concessionaire<br />

to invest in, manage and operate<br />

its distribution assets, ECG<br />

will continue to exist albeit with a<br />

different focus.<br />

"The new ECG will be an active<br />

and responsible asset owner,<br />

will engage in bulk energy trading,<br />

provide knowledge and skills to<br />

support other utilities through<br />

consultancy services and upgrade<br />

the training school," he said.<br />

He added that the new ECG<br />

will also embrace the introduction<br />

of renewable energy into Ghana's<br />

energy mix to improve reliability<br />

of supply to its customers.<br />

Challenges and<br />

achievements<br />

Mr Boakye- Appiah, who highlighted<br />

on the theme ‘50 Years Of<br />

Powering The Socio-Economic<br />

Growth and Development of<br />

Ghana,’ said the company though<br />

had chalked major successes also<br />

had some various challenges.<br />

He said “by far, the worst challenge<br />

in recent memory is the<br />

protracted power crisis of 2012-<br />

2016. During the crisis, ECG's<br />

image fell to an all -time low and<br />

our distribution network was<br />

weakened as a result of frequent<br />

switching for load shedding.<br />

“Our finances suffered because<br />

customers reacted to the<br />

crisis by not paying their bills.<br />

With the necessary political, financial<br />

and technical interventions<br />

the crisis was resolved last<br />

year and ECG is back on its feet.”<br />

He said.<br />

According to the MD, ECG is<br />

yet to receive the Regulatory<br />

Benchmarks for system losses and<br />

network reliability.<br />

He explained that achieving<br />

cost reflective tariffs that are affordable<br />

for its customers remains<br />

a major challenge.<br />

“A significant achievement is<br />

the fact that we are concerned<br />

and have survived all the turbulence<br />

that had plagued many<br />

state-owned enterprises in the history<br />

of our country.<br />

We have achieved significant<br />

laurels locally and internationally.<br />

We have brought smiles to many<br />

homes and communities who turn<br />

the lights on for the first time in<br />

their lifetime,” he added.<br />

Modernisation<br />

Mr Boakye –Appiah hinted<br />

that ECG is automating and digitising<br />

its networks and business<br />

processes using the latest technologies<br />

in the industry.<br />

He explained that the company’s<br />

networks operations are<br />

partially automated at the medium<br />

voltage level; at the primary level,<br />

the Supervisory Control and Data<br />

Acquisition System (SCADA)<br />

covers four out of the six administrative<br />

regions and the secondary<br />

SCADA has been extended to<br />

17 district control centres<br />

throughout its operational regions.<br />

Mr William Owuraku Aidoo,<br />

Deputy Minister of Energy said<br />

the Vice President, Dr Mahamudu<br />

Bawumia went to Washington to<br />

meet with the World Bank and<br />

managed to renegotiate the key<br />

aspects of the contract namely<br />

the non-loss of jobs by ECG<br />

workers, and 20% participation<br />

of Ghanaians.<br />

He explained that Ghanaians<br />

should be confident in what the<br />

government says, that no staff in<br />

ECG will lose his/her job and<br />

that is exactly what is pertaining.<br />

Ghana Beyond Aid achieved yet?<br />

ONE OF the key priorities of the<br />

New Patriotic Party administration<br />

is to move ‘Ghana beyond Aid’.<br />

The government has been<br />

tough on working to reduce the<br />

over-dependency on donor support<br />

for development.<br />

In the build up to President<br />

Nana Akufo-Addo’s State of the<br />

Nation Address on Thursday, <strong>February</strong><br />

8, 2018, Citi Business<br />

News has taken a look at how far<br />

government has come in reaching<br />

this goal.<br />

Indications, however, suggest<br />

that more needs to be done to attain<br />

this feat.<br />

Prez Akufo-Addo<br />

leads agenda<br />

President Akufo-Addo has<br />

been leading the charge of building<br />

a ‘Ghana Beyond Aid’ and is<br />

convinced that the abundant mineral<br />

resources shouldn’t permit<br />

Ghana to seek support from<br />

donors to implement key policies.<br />

Speaking in an address with the<br />

French President Emmanuel<br />

Macron in Ivory Coast as<br />

well as delivering a speech<br />

as part of the Royal<br />

African Society’s leadership<br />

series in London, the President<br />

stressed the need to<br />

add value to traditional exports.<br />

“This is not right; we<br />

need to change the statistics.<br />

If we simply grind and<br />

sell the cocoa in paste<br />

form, instead of selling the<br />

cocoa beans, we double<br />

our earnings. In much the<br />

same way we will double<br />

our earnings from gold if<br />

sold refined than in the<br />

raw state. We are determined<br />

to process these<br />

products,” he stated.<br />

These thoughts have<br />

been reiterated across several platforms<br />

by the Vice President, Dr<br />

Mahamudu Bawumia.<br />

Govt works to grow<br />

Ghana Beyond Aid<br />

The recent one constituted the<br />

•President Nana Akufo-Addo<br />

theme for the third Aliu Mahama<br />

Memorial Lectures presented by<br />

Finance Minister, Mr Ken Ofori-<br />

Atta.<br />

For Mr Ofori-Atta, working to<br />

improve critical sectors like the financial,<br />

oil and gas, rail and road<br />

infrastructure,<br />

among others<br />

should propel the<br />

plans to attain a<br />

Ghana Beyond<br />

Aid.<br />

For instance,<br />

the Minister highlighted<br />

the need<br />

to attract investors<br />

to revamp operations<br />

at the Tema<br />

Oil Refinery<br />

(TOR).<br />

But this might<br />

have to be triggered<br />

as TOR has<br />

been compelled to<br />

suspend its operations<br />

few weeks<br />

into this year due<br />

to operational<br />

challenges.<br />

Also, the estimated 21 billion<br />

dollar investments into the railway<br />

sector is yet to be completed to<br />

fast track the carting of agricultural<br />

goods such as cocoa from<br />

producing centers to market centers.<br />

The European Union Ambassador<br />

to Ghana, William Hanna<br />

admits that donor support has reduced<br />

hence the need for Ghana<br />

to improve her trade with other<br />

countries.<br />

Although government is saddled<br />

with huge records of revenue<br />

leakages estimated at 10 billion<br />

Cedis, Mr Ofori-Atta is confident<br />

of reversing the trend.<br />

Economist at the University of<br />

Ghana, Dr Ebo Turkson however<br />

suggests that the government<br />

would need to be tough on addressing<br />

corruption if it is to<br />

reach this goal as expected.<br />

“If we fight corruption, we can<br />

do a lot of public sector savings<br />

because a huge amount of public<br />

sector resources get fizzled out<br />

due to corruption. If we are able<br />

to fight corruption, these are huge<br />

amounts of monies that we can<br />

save and that would be an alternative<br />

to aid and those monies can<br />

be channeled into other productive<br />

sectors.”

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