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Monday 20 November 2017

2017-11-14

[N] E/R: Driver, 19, Jailed 8 Years For Kidnapping And Defiling Girl, 13
[N] Special Prosecutor could wait till 2019 if parliament misses 2017 passage
[N] Petroleum Revenue Mgt. Act breached for 7-yrs running – PIAC
[N] CEDTAG Strike action leaves colleges of education deserted
[N] Nduom is not presidential material -Maurice Ampaw
[N] Police blame Kasoa violent attacks on under-staffing

2017-11-10

[N] GMA indicts gov't for failing to employ medical doctors
[N] Ministers are not allowed to use sirens; Police order immediate removal
[N] Stay focused and deal with your controversies – Nana Addo to Zoomlion Boss
[N] We will face criminals boot for boots with ‘Father Xmas’ Operation -Ken Yeboah
[N] Step aside – Group to NDC Chairmen
[N] School Feeding Coordinators Trade Insults Over Naabu & Otiko
[N] Major Mahama bill passed

2017-11-09

[N] Free SHS: Ablakwa Donates Furniture to Schools
[N] Girls with excessive make ups may have ovary tumour – doctor
[N] Visitors pay GHc2 to see prisoners
[N] Consider our request to contest 2020 polls -NDC Chairmen to Mahama
[N] Colleges of Education still closed as talks over arrears fail
[N] Economic policies paying off - Prez
[N] Cancer disfigures head of 2-year old, sticks mother with ˘12,000 bill
[N] There is corruption in police service- COP Ken Yeboah
[N] 3 arrested in Kumasi for robbing, raping victims

2017-11-08

[N] Help Gov’t to achieve its revenue targets -Nana Addo to GHAPOHA
[N] NPA to close down 35 more high-risk LPG stations nationwide
[N] Uber adds Paid Wait Time; additional features for driver-partners
[N] ‘Bawumia is only confident, he knows nothing’- Minority
[N] A/R: Queen mothers grateful to 1st lady for KATH mother & baby unit
[N] If our bond was issued at 20% it would have been oversubscribed- Kwarteng hits b
[N] Tiger Eye F’dation Partners Klarity To Fight Corruption
[N] AG’s application against Indian businessman dismissed again

2017-11-07

[N] Bawumia behaving like a ‘heartless’ serial caller – Ofosu Kwakye
[B] 2018 budget to improve domestic revenue collection
[N] 24,377 cattle, 225 owners registered in Kwahu
[N] New agency inaugurated to boost revenue collection in oil and gas sector
[B] New Drivers’ License to be launched today
[N] Tell the true African stories through your writings – Nana Addo to PAWA
[B] Investor uncertainty, others impacted energy bond  

2017-11-06

[N] Sack Freddie Blay for defending Ayisi Boateng – Alhaji Sani
[B] Energy bond unsuccessful after two tries

2017-11-05

[N] 'We won't compromise on admission malpractices' - UCC & its affiliates
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Business

[ 2017-05-24 ]

Chief Executive Officer of MiDA, Ing Owura Sarfo

6 concessionaires to start inspection of ECG assets - Ing. Owura
The Millennium Development Authority(MiDA) has
told Citi Business News the authority has engaged
the six concessionaires participating in the ECG
Private Sector agreement.

The six concessionaires who are currently in the
country participated in a bidders conference held
in Accra yesterday to discuss the 51 percent stake
to be controlled by Ghanaian investors in the ECG
PSP project under the Power Compact Two, with the
Millennium Challenge Corporation.

It will be recalled that the conference was
scheduled for October last year but was suspended
after the Public Utilities Workers Union(PUWU),
led by the Trades Union Congress petitioned the
Mahama government against it.

Speaking to Citi Business News after the first
Bidders Conference, the Chief Executive Officer of
MiDA, Ingineer Owura Safo stated that the
concessionaires will soon undertake an inspection
of ECG installations.

“We are going to have a one-on-one meeting with
them because each of them will have their own
issues. We need to talk to them to explain the
process for them. The process is very expensive
for them. We need to clarify the process for them.
After the process is completed, one concessionaire
will be selected,” he said.

Ing. Owura stated that the process will include an
inspection of the ECG plants and installations.

Dispelling the misconception that the PSP is a
privatization, Ing. Owura stated that the ECG will
not be sold.

“The ECG Financial and Operational Turnaround
Project aims to strengthen the governance and
management of ECG by bringing in an acceptable
concessionaire to make investments designed to
reduce technical, commercial, and collection
losses and improve service quality,” he stressed.

“MiDA continues to work together with all
stakeholders on this journey of identifying the
best qualified private sector partner for ECG.
This partnership will transform the ECG in terms
of technology in power distribution,” he said.

“Let us seize the opportunity together to improve
the power situation in our dear country,” he
added.

The Bidders’ Conference facilitated interaction
between the shortlisted Applicants for the ECG
Concession and potential local and international
investors.

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
Four Hundred and Ninety Eight Million, Two Hundred
Thousand United States Dollars (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 major project under the Ghana Power Compact is
the Electricity Company of Ghana (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).

About MiDA

MiDA is a Ghana government agency created in 2006
by an Act of Parliament. The Authority has been
mandated by the Government of Ghana to implement
the Ghana Power Compact, which seeks to address
the root causes of the current problem of
unreliable power supply in the country.

Source - citibsinessnews.com



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