ECG to be listed on the Stock market – Finance Minister

The Electricity Company of Ghana(ECG) is to be listed on the Ghana Stock Exchange, Finance Minister, Ken Ofori-Atta has announced.

Presenting the budget statement and financial policy of the government of Ghana for the year ending 31st December 2020, he said “Government will make every effort to avoid the pitfalls that the PDS concession encountered and institute broad Ghanaian institutional participation, as well as democratize local equity participation, with an eventual listing on the Ghana Stock Exchange”.

He also added that a well-executed partnership between ECG and the “right” technical and financial partners, will certainly improve the distribution capabilities and enhance end-user experiences.

To this end, heightened scrutiny will be brought to bear in the design and implementation of the financial and technical evaluation criteria to ensure that interested bidders not only have credibility and extensive experience in operating and managing a comparable electricity utility but also possess the financial wherewithal to make the requisite investments in ECG, he noted.

Source: thebftonline.com