{"id":173000,"date":"2024-04-18T22:14:35","date_gmt":"2024-04-18T22:14:35","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/04\/18\/kwadwo-poku-backs-otumfuos-call-for-private-sector-involvement-in-energy-sector\/"},"modified":"2024-04-18T22:14:35","modified_gmt":"2024-04-18T22:14:35","slug":"kwadwo-poku-backs-otumfuos-call-for-private-sector-involvement-in-energy-sector","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/04\/18\/kwadwo-poku-backs-otumfuos-call-for-private-sector-involvement-in-energy-sector\/","title":{"rendered":"Kwadwo Poku backs Otumfuo&#8217;s call for private sector involvement in Energy Sector"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Energy Analyst and New Patriotic Party (NPP) member, Kwadwo Nsafoah Poku, has backed the Asantehene\u2019s recommendation to privatise key state-owned enterprises in Ghana\u2019s energy sector.<\/p>\n<p>Kwadwo Poku argues that the sector urgently needs financial resources to address the current crisis, and the private sector is the only viable source.<\/p>\n<p>This aligns with the recent suggestion by Asantehene, Otumfuo Osei Tutu II, who urged the government to divest state-owned enterprises like the Volta River Authority (VRA) and the Ghana Grid Company (GRIDCo) to attract private investment.<\/p>\n<p>Speaking on Eyewitness News on April 17th, Kwadwo Poku clarified that the Asantehene is advocating for greater private sector participation, not complete privatization. \u201cWhat the Otumfuo is trying to point out is that we need a private sector participation in the energy sector and it is not lost on anybody that we need that investment,\u201d he stated.<\/p>\n<p>Poku elaborated on the energy sector\u2019s evolution, highlighting a significant shift from solely government-controlled entities to a model with substantial private-sector involvement. He pointed out that 73% of Independent Power Producers (IPPs) are now privately owned, and even the transmission lines have benefited from private sector contributions.<\/p>\n<p>\u201cThe energy sector is such that before it used to be only government-run. Because from Akosombo, we have the VRA, GRIDCo and ECG and then to distribution. Now you have the private sector playing 73% of the IPP which is the Independent Power Producers, who are now the private sector.<\/p>\n<p>\u201cThen you had Ghana Gas which is the transmitter but now you also have part of the transmitting pipe being played by Genser which has also built these pipelines which is also private sector-led. You need capital because if the government side does it, it means that the government is the majority shareholder and the investment will have to come from the government\u2019s coffers which we don\u2019t have the money. So, yes it is a call in the right direction, we really need it.<\/p>\n<hr\/>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU:\u00a0https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<p><em><strong>No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Energy Analyst and New Patriotic Party (NPP) member, Kwadwo Nsafoah Poku, has backed the Asantehene\u2019s recommendation to privatise key state-owned enterprises in Ghana\u2019s energy sector. Kwadwo Poku argues that the sector urgently needs financial resources to address the current crisis, and the private sector is the only viable source. This aligns with the recent suggestion [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":173001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-173000","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kwadwo Poku backs Otumfuo&#039;s call for private sector involvement in Energy Sector - 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\/2024\/04\/18\/kwadwo-poku-backs-otumfuos-call-for-private-sector-involvement-in-energy-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kwadwo Poku backs Otumfuo&#039;s call for private sector involvement in Energy Sector - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Energy Analyst and New Patriotic Party (NPP) member, Kwadwo Nsafoah Poku, has backed the Asantehene\u2019s recommendation to privatise key state-owned enterprises in Ghana\u2019s energy sector. 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