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ECG Concession Compact May Be In Jeopardy If . . .  - COSECA   
 
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23-Mar-2018  
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The leadership of the Coalition of Stakeholders on the ECG Concession Arrangement (COSECA) have announced that the entire process may be in jeopardy because, there are troubling issues with the three organizations left in the biding process, while Millennium Development Authority(MiDA’s) assessment and vetting process also gives serious cause for concern.

Speaking at a news conference held in Accra, Campaign Coordinator for Integrated Social Development Center (ISODEC), and a member of COSECA, Dr Steve Manteaw, explained that the compact is heading for a crash and Ghana may miss the September 2018 deadline, and lose the 500 million US Dollar Millennium Challenge Compact (MCC), plus infusion of capital and expertise to strengthen Ghana’s power sector which will ensure that Ghana does not return to ‘Dumsor’.

He raised worrying concerns stating COSECA has suggested that in the event that "none of the AGI group was unable to take up the rest of the 31%, the remaining shares should be floated on the Ghana Stock Exchange" to make up for the difference.

He said “This requires planning but unfortunately, there’s been no movement in that direction which will also jeopardize the whole process”.

There are troubling issues regarding another bidder seeking to control ECG. This bidder, BXC, is a Chinese company which has been conducting business with ECG providing services towards distribution system loss reduction in the Accra West region through their sister company CB electric. Thus, they control the entire Accra West Region.

He stated that if any of these three organizations; BXC, a Chinese Company, CB Electric, and Manila Electric Company from the Philippines left in the biding process are given Ghana’s power sector, Ghana will face daunting problems.

Dr. Mantey Yaw, therefore called on the leadership of MiDA to endeavour to uphold President Akufo-Addo’s declaration of ensuring that Ghana gets a better deal, by not varying the terms of the Private Sector Participation (PSP) to the disadvantage of Ghanaians and to also ensure that Ghana does not lose the Compact by its September 2018 deadline.

The spokesperson for COSECA and the Vice President for Imani, Kofi Benstil also added his voice saying that "MiDA should get the right things done in order for the project to inure to Ghana’s benefit".

 
 
Source: Sika Akwago/UTV
 
 

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