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Ghana: electricity tariffs are expected to rise 60% after the private takeover

The planned privatization of the Electricity Company of Ghana has been temporarily postponed. Electricity tariffs are expected to rise 60% after the private takeover. “According to the Minority Parliamentarians of the country, the ECG has accumulated huge debts since the current government took over. They said the government imposed policies that were not beneficial to the company hence resulting in the accumulation of the huge debt.”

Source: www.pulse.com.gh

Opposition leader called for a guarantee of tenure and employment security for the workers of ECG

Parliament has ratified the concession agreement between the government of Ghana and the consortium of investors led by the Manila Electric Company for private sector participation in the Electricity Company of Ghana. .” Opposition leader Haruna Iddrisu “called for a guarantee of tenure and employment security for the workers of ECG, saying the country must jealously guard their employment security. He said the House should also be informed of how much each of the partners in the consortium is contributing by way of investments to the arrangement.”

Source: Ghana Business News

Parliament has approved ECG Privatisation Agreement

Parliament has approved the concession agreement between the government and the consortium of investors led by the Manila Electric Company for private sector participation in the Electricity Company of Ghana (ECG). “Ghana and the United States of America, acting through the Millennium Challenge Corporation (MCC) entered into a Millennium Challenge Compact which among others spelt out the involvement of private players in ECG. ECG will grant a concession to a private investor or operator to manage the operation of the distribution business, including financing and procuring new investments, or partial or full privatization.”

Source: www.gbcghana.com