The Managing Director of the Electricity Company of Ghana (ECG), Kwame Agyeman-Budu, has confirmed payment of the Government of Ghana’s (GoG’s) indebtedness to the company.
Kwame Agyeman-Budu said the payment was made at the end of December 2019.
In a press statement authored and autographed by the MD and copied to Accra File, Kwame Agyeman-Budu indicated that a reconciliation exercise, which was undertaken by his outfit, with its suppliers revealed that the GoG owed it an amount of GH¢2.63 billion at the close of 2016.
He said the ECG further realised that between 2017 and 2019, the GoG averagely paid GH¢2 billion directly to the ECG’s suppliers, i.e., Volta River Authority (VRA), Independent Power Producers (IPPs) and Ghana Grid Company (GRIDCo), to defray the indebtedness to the ECG.
“The total GoG account, as at the end of 2019, has a credit balance of GH¢505.8 million.
“It is also important to add that the GoG has also paid an amount of GH¢4.1 billion directly to various fuel suppliers and power producers, and is yet to be credited to the GoG’s account under the ongoing reconciliation exercise. Indeed, this positive intervention by the GoG is very well appreciated by ECG, because the company’s balance sheet is now stronger than before,” the statement said.
Meanwhile, a Tema-based Chinese company, Wang Heng Company Limited, producers of Sol Cement, has presented quantities of facemasks to the Electricity Company of Ghana (ECG) to assist in the fight the Coronavirus pandemic.
At a very brief presentation ceremony, the General Manager of Wang Heng, Nana Obokomatta IX, said as a business partner of the ECG, it was important his outfit lends material support to the latter in ensuring its staff and customers are safe in this COVID-19 era.
“We are aware thousands of customers come to transact businesses in your offices, and because there may be some customers who may not have facemasks on, we thought this presentation would be helpful to the company,” Nana Obokomatta IX, who was accompanied by Jack Shen and Limbo, Managing Director and Head of Production at Wang Heng, explained.
Receiving the items, Managing Director of the ECG, Kwame Agyeman-Budu, expressed gratitude to Wang Heng for the gesture.
He said the items had come at a time when the ECG was spending so much on personal protective equipment to make sure that staff, as well as customers, are safe on their premises to transact business.
The ECG receives over 6,000 customers weekly, and coupled with its huge staff size in its operational regions, Mr Agyeman-Budu said the company was spending a lot on Personal Protective Equipment (PPE).
“We’re in a very difficult time to keep the safety of our staff. We’re spending so much money to ensure the COVID-19 safety protocols, and so for us at the ECG, this donation is timely, and we are grateful to Wang Heng,” he said.
Kwame Agyeman-Budu seized the occasion to remind his staff across the company’s operational areas to endeavour to practise physical distancing, hand washing with soap under running water, and wearing of facemasks at all times to stay safe.
The post ECG confirms GoG debt settlement appeared first on The Chronicle Online.
Read Full Story
Facebook
Twitter
Pinterest
Instagram
Google+
YouTube
LinkedIn
RSS