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2021-04-07

[N] As Majority Leader be circumspect with your utterances

2021-03-19

[I] Goldman Sachs staff revolt at ‘98-hour week’
[I] Over half of staff go back to workplace
[I] Health chiefs confirm Oxford-AstraZeneca Covid jab safe to use
[S] Kotoko Signs Second Brazalian Player
[N] It Is A Blatant Lie That I’ve Declared My Prez Ambition-Agric Minister
[S] Accra Mayor to change face of sports in Greater Accra
[S] Ambassador Lutterodt charges GOC prez to tackle Martha Bissah issue
[S] Ben Nunoo-Mensah hits ground running for GOC
[S] Black Stars to Engage Uzbekistan In International Friendly
[N] House of Chiefs calls for collaboration with MMDCEs for development
[N] Baby Harvesting: More suspects picked
[N] Police pledge commitment to bringing Sheikh Maikano’s murderers to book
[B] ARB Apex Bank admitted to Ghana-Sweden Chamber of Commerce
[N] Desist from starting race ahead of time - Obiri Boahen to NPP presidential
[N] Gov’t announces construction of five interchanges in Ashanti
[N] Controversial textbooks: NPP urges NaCCA to enforce rules without fear or favour
[N] Staff working on Tamale interchange call off strike
[N] Newly proposed taxes a huge hindrance to businesses’ recovery
[N] Government can’t take a unilateral decision on salaries for public workers
[N] Ghana records 2 new Covid-19 variants; experts call for immediate action

2021-03-17

[S] First GFA safety and security seminar takes place today
[B] NDPC holds consultation medium term framework for 2022-2025 in Oti
[B] More investments recorded in Western Region despite COVID-19
[N] Ghana records 698 COVID-19 deaths
[N] NDC’s Ofosu Ampofo behaves like a toddler – Allotey Jacobs
[S] Don’t tax sports betting, ban it – Ato Forson to government
[N] Ama Benyiwaa Doe slams Allotey Jacobs; says he has no influence
[N] Approving Akufo-Addo’s ministers ‘regrettable and unfortunate’ – NDC caucus
[S] Don't rush Satellites players, warns GFA coaching boss
[N] Eastern Regional Hospital detains 246 patients for non-settlement of bills
[N] COVID-19 vaccination in Ghana: 1,000 reports received on adverse effects
[N] Ignore reports of rift between local, foreign staff at AfCFTA secretariat – Govt
[N] Remain calm, support our leadership in Parliament – NDC Council of Elders
[N] Ghana hasn’t recorded any case of blood clots from COVID-19 vaccination – FDA
[N] 9-year-old boy burnt to death as stepfather sets house ablaze
[B] Budget cuts for legislature, judiciary won’t be entertained – Speaker
[I] Half of UK managers back mandatory Covid vaccines for office work
[I] Brussels to propose Covid certificate to allow EU-wide travel

2021-03-16

[I] Nick Candy leads £1m drive to oust London mayor Sadiq Khan
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Business

[ 2017-05-23 ]

Energy Minister, Boakye Agyarko

We need power to turn economy around – Agyarko
The Minister for Energy, Boakye Agyarko has
underscored the need for the sustainable
management of the state power company to forestall
a total collapse.

He was speaking at the first Bidders’ Conference
on the concession for the Private Sector
Participation (PSP) in the electricity
distribution business of the Electricity Company
of Ghana (ECG).


The Bidders’ Conference is to facilitate
interaction between the shortlisted applicants for
the ECG Concession and potential local and
international investors.

He reminded the power sector remained central to
the development agenda of the government and
“key to unlocking the development potential of
Ghana.”


But the Energy Minister lamented that “years of
inadequate investment, inefficiencies within the
utility, and a large stock of outstanding
receivables, particularly in the distribution
sector, have all conspired to weaken the
organisations in the sector to what they are
today.

As a nation, we should set our sights firmly on
turning around the fortunes of this strategic
sector which so many of us have poured our sweat
into building.”

Highlighting the negative impacts of the power
crisis, Mr. Agyarko noted that the power crisis,
per the 2013 World Bank Energising Economic Growth
in Ghana report, the 2006-07 power crisis cost
Ghana nearly 1 percent in lost GDP.

Also, the Institute of Statistical, Social and
Economic Research (ISSER), in its 2014 study on
the economy indicated that Ghana lost production
worth $2.1 million per day during the crisis.

Mr. Agyarko further noted the impact of the power
crisis on unemployment figures.

“For the government, even more critical is the
resulting loss of jobs that was precipitated by
the unreliable power to business. Recognising this
fact, President Nana Akufo-Addo, during the 2017
State of the Nation Address, warned that if left
unaddressed, the challenges in the energy sector
would collapse the Ghanaian economy.”

About the ECG PSP Transaction

The Government of Ghana signed the Ghana Power
Compact with the Millennium Challenge Corporation
(MCC), an independent United States government
foreign aid agency, on August 5, 2014.

The Ghana Power Compact provides Ghana a grant of
US$498,200,000 to improve the performance of
Ghana’s power sector to unlock the country’s
economic potential, create jobs, and reduce
poverty.

The Government of Ghana is committing at least
US$37.4 million of its own money.


The main project under the Ghana Power Compact is
the ECG Financial and Operational Turnaround
Project, which is designed to transform ECG into
an efficient and financially strong institution
through private sector participation (PSP). About
US$351 million of the MCC grant is being invested
in ECG.

The project seeks to bring about private sector
participation in investments into, as well as the
management and operation of, the ECG through a
concession arrangement.

Under the concession, a private partner will
invest in ECG and improve its operations to reduce
commercial and technical losses, reduce the
frequency and duration of outages, introduce new
equipment and technology, and reduce the
vulnerability of the distribution system to theft
and meter manipulation.

The Compact is being implemented by the Government
of Ghana through the Millennium Development
Authority (MiDA).

Source - citibsinessnews.com



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