Business News of Saturday, 25 February 2017
The General Secretary of the Industrial and Commercial Workers Union (ICU), Mr Solomon Kotei, has lauded plans by the government to list the Volta River Authority (VRA) and the Ghana Grid Company Limited (GRIDCo) on the stock exchange.
Such a move, he indicated, would help people have a fair idea of the status of the two entities and also monitor their activities.
“The stock exchange monitors and measures the performance of companies listed on it. The moment GRIDCo and VRA are listed on the stock exchange, their share value would be discussed and looked at. It is, therefore, a welcoming idea,’’ Mr Kotei stated.
The ICU boss made the comments on the sidelines of the swearing–in ceremony of a newly elected executive for the National Investment Bank (NIB) branch of the Professional and Managerial Staff Union (PMSU) in Accra.
President Addo Dankwa Akufo-Addo in his first State of the Nations Address last Tuesday gave a hint of the government’s intention to list GRIDCo and VRA on the Ghana Stock Exchange.
According to him, the move would revamp the operations of the two entities.
“The energy situation in our country is unsatisfactory. We have begun plans to develop a national electricity master plan, which will also explore the benefits of listing VRA and GRIDCo on the stock exchange,” the President said in his address.
Mr Kotei, who swore the new executive into office, urged them to be proactive in their duties and also ensure that they prioritise the welfare of their staff, adding, “you must ensure that the tenets of the collective agreement between staff and management are upheld.’’
He further advised staff of NIB to support the leadership of the union and the bank to ensure its continuous growth.
The new president of the PMSU, NIB, Mr Narh Davis, promised to promote the welfare of the staff.
He, however, appealed to the management of the bank to ensure that “equity and fairness is extended to all staff.’’
“In order for management to co-exist with workers, the method should be a win-win situation,’’ he added.
For his part, the Managing Director of NIB, Mr John Kweku Asamoah, tasked the new executive to help in maintaining discipline in the bank.
“I assure you that management will continue to make the union stronger as partners in development to ensure that NIB becomes the ultimate winner,’’ he said.