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.”