{"id":366230,"date":"2017-02-22T12:35:58","date_gmt":"2017-02-22T12:35:58","guid":{"rendered":"http:\/\/ghana-mma.com\/local-news\/2017\/02\/22\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\/"},"modified":"2017-02-22T12:35:58","modified_gmt":"2017-02-22T12:35:58","slug":"listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/02\/22\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\/","title":{"rendered":"Listing GRIDCo on stock exchange ill-advised \u2013 Kwabena Donkor"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Wednesday, 22 February 2017<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>citifmonline.com<\/p>\n<p>2017-02-22<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/ghanamma.com\/wp-content\/uploads\/2017\/02\/72357146.295.jpg\" alt=\"Dr Kwabena Donkor Pru MP\" title=\"Dr Kwabena Donkor Pru MP\" width=\"295\" height=\"353\" \/><span class=\"image_caption\"><span>Former Power Minister, Dr. Kwabena Donkor<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"https:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=148603782445165\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=148603782445165\"><br \/>\n\t\t  <img decoding=\"async\" src=\"http:\/\/ghanamma.com\/wp-content\/uploads\/2017\/02\/1487766958_777_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript>\n\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\">The Former Minister for Power, Dr. Kwabena Donkor, has said government\u2019s plan to list the Ghana Grid Company Limited (GRIDCo) on the Ghana Stock Exchange would be an unnecessary misstep for the country.<\/p>\n<p>Government is considering listing GRIDC0 on the stock exchange to make the energy sector more efficient and solve the funding challenges facing power companies, but Dr. Donkor insists that such a move \u201cwill be most unfortunate\u201d.<\/p>\n<p>\u201cWhoever is advising the government will be doing the country a disfavour,\u201d he stated on the Citi Breakfast Show.<\/p>\n<p>President Nana Akufo-Addo, during his maiden State of the Nation address, announced that \u201cGRIDCo, along with the Volta River Authority (VRA), will be listed on the Ghana Stock Exchange as part of a master plan to strengthen the power sector and open competitive bidding for power capacity procurement, thus reducing the cost of power projects and ensuring value for money.<\/p>\n<p>President Akufo- Addo added that this will also form part of government\u2019s plan to tackle the $2.4 billion debt of which he said an \u201calarming\u201d $800 million was owed to local banks.<\/p>\n<p><b>GRIDCO profitable as it is<\/b><\/p>\n<p>Dr. Donkor, however, argued against the move saying GRIDCo was profitable, whilst noting that there also security implications to listing the company on the Ghana Stock Exchange.<\/p>\n<p>\u201cGRIDCo is the nerve centre of the power system. GRIDCo is the brain. GRIDCo is profitable. GRIDCo is a limited liability company owned solely by the state. If has recorded profits in the last couple of years an so why would you put your brain on the stock exchange,\u201d he questioned.<\/p>\n<p>Dr. Donkor also said \u201cGRIDCo is not only a commercial entity, it is a strategic entity. In fact, in some countries and in some jurisdictions, you don\u2019t even have the grid company on GPS [or on the map] because it is considered a major security [installation],\u201d he explained.<\/p>\n<p>If the enlisting on the stock exchange is to ensure value and revenue, government can continue to rely on the energy sector levy, the former Power Minister  noted further saying, \u201cthe levies are enabling us to pay off the debt.\u201d<\/p>\n<p>Dr. Donkor, whilst acknowledging the problem of the indebtedness, also said the figure of $4.2 billion was an overstatement given some of the money owed is within the countries power sector.<\/p>\n<p>\u201cSome of the debts are intra-sector; ECG owing GRIDCo and therefore GRIDC0 probably owing some other entity, so if you do the cross checking, it comes to about $1.2 billion,\u201d he explained.<\/p>\n<p><!-- uploaded by: 38 updated by: -1 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Wednesday, 22 February 2017 Source: citifmonline.com 2017-02-22 Former Power Minister, Dr. Kwabena Donkor The Former Minister for Power, Dr. Kwabena Donkor, has said government\u2019s plan to list the Ghana Grid Company Limited (GRIDCo) on the Ghana Stock Exchange would be an unnecessary misstep for the country. Government is considering listing GRIDC0 on [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-366230","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Listing GRIDCo on stock exchange ill-advised \u2013 Kwabena Donkor - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/02\/22\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Listing GRIDCo on stock exchange ill-advised \u2013 Kwabena Donkor - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Business News of Wednesday, 22 February 2017 Source: citifmonline.com 2017-02-22 Former Power Minister, Dr. Kwabena Donkor The Former Minister for Power, Dr. Kwabena Donkor, has said government\u2019s plan to list the Ghana Grid Company Limited (GRIDCo) on the Ghana Stock Exchange would be an unnecessary misstep for the country. Government is considering listing GRIDC0 on [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/ghanamma.com\/wp-content\/uploads\/2017\/02\/72357146.295.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/22\\\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/22\\\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Listing GRIDCo on stock exchange ill-advised \u2013 Kwabena Donkor\",\"datePublished\":\"2017-02-22T12:35:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/22\\\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\\\/\"},\"wordCount\":437,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/22\\\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/ghanamma.com\\\/wp-content\\\/uploads\\\/2017\\\/02\\\/72357146.295.jpg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/22\\\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/22\\\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/22\\\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\\\/\",\"name\":\"Listing GRIDCo on stock exchange ill-advised \u2013 Kwabena Donkor - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/22\\\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/22\\\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/ghanamma.com\\\/wp-content\\\/uploads\\\/2017\\\/02\\\/72357146.295.jpg\",\"datePublished\":\"2017-02-22T12:35:58+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/22\\\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/02\\\/22\\\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\\\/#primaryimage\",\"url\":\"http:\\\/\\\/ghanamma.com\\\/wp-content\\\/uploads\\\/2017\\\/02\\\/72357146.295.jpg\",\"contentUrl\":\"http:\\\/\\\/ghanamma.com\\\/wp-content\\\/uploads\\\/2017\\\/02\\\/72357146.295.jpg\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Listing GRIDCo on stock exchange ill-advised \u2013 Kwabena Donkor - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2017\/02\/22\/listing-gridco-on-stock-exchange-ill-advised-kwabena-donkor\/","twitter_card":"summary_large_image","twitter_title":"Listing GRIDCo on stock exchange ill-advised \u2013 Kwabena Donkor - Ghanamma.com","twitter_description":"Business News of Wednesday, 22 February 2017 Source: citifmonline.com 2017-02-22 Former Power Minister, Dr. Kwabena Donkor The Former Minister for Power, Dr. Kwabena Donkor, has said government\u2019s plan to list the Ghana Grid Company Limited (GRIDCo) on the Ghana Stock Exchange would be an unnecessary misstep for the country. 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