The Enterprise Group, an insurance company in the Republic of Ghana has dismissed claims that 51 percent shares of the Power Distribution Services (PDS) Ghana Limited have been diverted to the company.
“I’m waiting to hear the 51 per cent side of PDS. I’m waiting for somebody to come and tell me how did that 51 per cent move from AGI, which the president Instructed should be taken to AGI for AGI to collate businesses to buy those shares, How did it move to Enterprise? Kwame Jantuah, who is an energy expert quizzed.
“I’m waiting for that and let’s see how the president would act when that happens,” he said this on Accra -based Starr FM last Friday.
However, in a response, the Enterprise Group described the allegations made in the article as utterly false, baseless and lacking any truth or merit.
PDS took over the distribution business of the Electricity Company of Ghana on March 1, 2019 as a result of the Millennium Challenge Corporation’s Power Compact II, which required private sector participation in the Electricity Company of Ghana.
Below is the full response from Enterprise Group
RE: PDS: 51% shares for AGI diverted to Enterprise Group? – Jantuah
The Enterprise Group has taken notice of a news story on www.starrfm.com dated 16 September, 2019 captioned PDS: 51% shares for AGI diverted to Enterprise Group? – Jantuah, reported by Awal Mohammed. The article has been re-published on other online news portals citing www.starfm.com as the source of the news story.
The Enterprise Group would like to state that the allegations made in the article are utterly false, baseless and lacking any truth or merit. The Group takes this opportunity to assert the following:
- It is a listed company with over 3,000 local and foreign shareholders.
- It has not acquired and has no interest in acquiring any shares in PDS.
- The business of PDS is not in line with the Group’s focus, which is to remain and grow in the financial services sector.
The Enterprise Group has always demonstrated the highest standards of corporate governance and ethical conduct in its dealings, and it will continue to do so. The Company remains accessible to the media and urges all to make use of its well established channels to cross-check relevant information in the interest of responsible journalism.
Finally, the Group assures its clients, shareholders, staff and the nation at large that it remains committed to providing the best of insurance and other financial services to Ghanaians, and to fulfil its mission of providing all who come into contact with the Enterprise Group their desired ADVANTAGE.