{"id":321954,"date":"2017-05-23T17:56:10","date_gmt":"2017-05-23T17:56:10","guid":{"rendered":"http:\/\/citifmonline.com\/?p=321954"},"modified":"2017-05-23T17:56:10","modified_gmt":"2017-05-23T17:56:10","slug":"first-ecg-bidders-conference-takes-off","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/05\/first-ecg-bidders-conference-takes-off\/","title":{"rendered":"First ECG bidders’ conference takes off"},"content":{"rendered":"
The first Bidders\u2019 Conference on the concession for the Private Sector Participation (PSP) in the electricity distribution business of the Electricity Company of Ghana (ECG) has been held in Accra.<\/p>\n
The ECG PSP transaction is one of five activities under the ECG Financial and Operational Turnaround Project funded through the Ghana Power Compact.<\/p>\n
The event, organized by the Millennium Development Authority (MiDA),was attended by over 100 people, comprising local and international investors, local financial institutions, trade associations, and government and regulatory institutions. It was a forum to discuss the structure of the ECG Concession and share ideas aimed at improving the process.<\/p>\n
Launching the event, the Minister for Energy, Mr. Boakye Agyarko stressed the importance of reliable and available power supply for national development.<\/p>\n
\u201cThere is no argument that an improved and efficiently managed power sector is key to unlocking the development potential of our dear country,\u201d he said.<\/p>\n
Mr. Agyarko added that \u201cyears of inadequate investment, inefficiencies within the utility, and a large stock of outstanding receivables, particularly in the distribution sector, have all conspired to make the organizations in the sector what they are today. As a nation, we should set our sights firmly on turning around the fortunes of this strategic sector.\u201d<\/p>\n