Ghana’s southern power distribution company, ECG, in Tema Region has commenced the installation of smart meters (Pre-Payment Meters) in the Kroboland in the Eastern Region.
The smart meters installation exercise has started in Kpong and is expected to be rolled out in Odumase, Somanya and other towns in the Kroboland.
As of Wednesday, May 4, 2022, only 25 smart meters had been installed in both residential and non-residential areas.
The Tema Regional Manager of ECG, Ing Emmanuel Akinie, who revealed this during an engagement with stakeholders in Odumase-Krobo on Thursday, said they were doing the installation slowly so that “if there are problems, we will be able to identify them and resolve them.”
That said, Ing. Emmanuel Akinie noted they had so far not encountered any challenge since the beginning of the exercise.
According to him, the exercise went on smoothly.
“Some customers have purchased credit successfully,” he said.
Ing Akinie told the gathering that management had decided to wave the internal protocols whereby postpaid meter customers who are migrated onto the prepaid meters pay part of their outstanding debt anytime they purchase credit.
He said those who have purchased credit onto their prepaid in Kpong could attest to the fact that there were no deductions made to settle their outstanding debt when they purchased credit.
“ECG will not use the prepaid meters to manage the payment of a debt,” he assured the customers.
Touching on the four years of outstanding bills owed by residents, Ing Akinie said upon further engagement with stakeholders and the national security, management had extended the two years duration to five years to make it more flexible for them to pay.
The ECG also took advantage to educate the gathering about the importance of using prepaid meters.
Madam Puumaaiya Ruhiya Fuseini, Marketing Officer, Tema Region said with smart meters or prepaid meters, consumers could manage their electricity consumption.
According to her, with the use of prepaid meters, consumers would no more suffer disconnection as compared to the postpaid meters where consumers are disconnected from the grid for non-payment of bills.
“When you realise you’re consuming more power, you can decide to put some of your appliances like refrigerator and other things off for some hours or days to save cost,” she stated.
Nene Asada Author, PRO of Manya Krobo Traditional Council, who was the chairman of the occasion, urged residents of Kroboland to allow ECG to carry out the installation of the prepaid meters since it would be of help to them.
He, however, urged ECG to resolve any issue the residents may raise.
Source: https://energynewsafrica.com
Ghana’s petroleum fiscal regime is investor-friendly and offers higher returns to investors, a Deputy Minister for Energy in the Republic of Ghana has told investors in the United States of America.
Dr. Mohammed Amin Adam, therefore, wooed them to take advantage of the favourable petroleum market environment in Ghana.
“Our petroleum fiscal regime is investor-friendly offering higher returns to investors. The licensing regime is transparent and provides investor certainty and flexibility,” Dr Amin said on the sidelines at the ongoing Offshore Technology Conference (OTC) investor forum in Texas, USA.
He mentioned that Ghana was aspiring to become a hub for refined petroleum products and petrochemicals in the West African sub-region and that there were numerous petroleum downstream opportunities available for grab.
“Government has, therefore, designated a free zone area for the development of petroleum and petrochemical refineries, storage and transportation facilities for the export of products to largely African markets. This requires collaboration with the private sector to achieve the objectives of the Hub,” he emphasised.
The Deputy Minister for Energy stated that the government established the Ghana Petroleum Hub Corporation which was necessitated by investors’ demands for the removal of ‘regulatory fatigue, red tapes and long lead times in project development’.
That, he said, was to facilitate the issuance of permits and licences to potential investors “and to play a rapid response role in addressing the challenges investors encounter in delivering on projects.”
In a related development, the Deputy Minister for Energy, Dr Mohammed Amin Adam, in a brief ceremony, officially opened Ghana’s pavilion at the OTC at the NRG Park in Houston Texas.
The OTC, an annual event, provides energy professionals with the opportunity to meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters and has expanded technically and globally with the Arctic Technology Conference, OTC Brasil and OTC Asia.
Source: https://energynewsafrica.com
Tanzania has set an ambitious goal of generating 6000Megawatts of power from renewable energy sources by 2025.
Among the renewable energy sources, Tanzania has considered include hydropower, solar and wind.
President of Tanzania, Her Excellency Samia Suluhu Hassan disclosed this in the US on Monday during a discussion themed: ‘A New Day for US-Tanzania Relations’, which was hosted by President and Chief Executive Officer of the Wilson Centre, Ambassador Mark Green.
President Hassan mentioned some of the projects as Julius Nyerere Hydropower Project (JNHPP) which is expected to produce 2,100MW upon its completion, as well as the envisaged Ruhudji and Rumakali hydropower projects anticipated to produce 358MW and 222MW, respectively.
She told the audience during the discussion that Tanzania also has a target to produce between 600MW and 700MW of electricity from solar.
“Tanzania currently produces electricity from natural gas and also plans to tap energy from wind. There are also studies being undertaken to generate electricity from geothermal sources,” President Hassan stated.
Amid the shortage of natural gas due to the Russia-Ukraine conflict, she is confident that Tanzania can be among suppliers of the energy resource as many countries are now looking to diversify their energy mix.
“Tanzania is ready to take off. We are open to anyone in the world willing to invest with us and are embracing the private sector. I believe the private sector can cause growth within the country,” she remarked.
She added: “Economic growth is about working closely with the private sector since it has a significant role in attracting FDI’s (Foreign Direct Investments).”
President Hassan pointed out that the reforms have enabled Tanzania to significantly boost the value of investments from just $1 billion during the fiscal year 2019/2020 to a staggering $8 billion during the financial year 2020/2021.
She noted further that the government of Tanzania is changing its model of cooperation with the US from being dependent on aid and instead focusing on aid to trade.
“We are now charting a new model on trading for mutual benefits of the two countries rather than depending solely on aid as it has been the case in the past,” she declared.
President Hassan told the audience at the meeting that she had fruitful discussions with the Vice-President of the US, Kamala Harris, in which they agreed on cooperation toward socio-economic development.
The Wilson Centre Africa Programme Director, Monde Muyangwa, said the organisation works to address the most critical issues facing Africa and enhance relations between the continent and the US.
She explained further that the organisation works to build mutually beneficial relations between Africa and US.
Source: https://energynewsafrica.com
The Group Chief Executive & MD of GOIL Company Limted, Kwame Osei-Prempeh, has been honoured as the CEO OF THE Year- Energy Sector at the Maiden Ghana CEO Vision Awards Gala.
The Awards Gala, organised by Globe Productions, saw over 30 captains of industry and organisations celebrated for their vision and excellence in the sector they head.
The award was received on behalf of Osei-Prempeh by the Head of IT & Planning, Anthony Twumasi.
Some staff of GOIL at the awards ceremonySource: https://energynewsafrica.com
The Chief Executive Officer of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, has been adjudged CEO of the year (petroleum downstream) and Corporate Social Responsibility Visionary CEO of the year 2022 at a colourful event at the Kempinski Hotel in Accra, capital of Ghana.
The event which was organised by Globe Productions also saw several CEOs of both private and public sector institutions in the financial, banking, agriculture, IT, health etc awarded.
Part of the citation which was read by the MC for the event indicated that NPA had constructed 30 boreholes in seven regions as part of efforts in making clean water accessible to the beneficiary towns.
The Authority had also constructed several basic schools to expand access to education as well as constructing health centres in North Tano, Gushegu, Afia, Talensi, Nsawam and other places.
The NPA, according to the citation, had also made substantial donations to several hospitals including the oncology centre at the Korle-Bu Teaching Hospital.
Commenting on the award on his Facebook page and sighted by energynewsafrica.com, Dr. Mustapha Abdul-Hamid wrote: “Kudos to past Chief Executives, Management and Staff of the National Petroleum Authority. Ayekoo for making this possible!”
The award was received for him by some staff of the Authority.
Source: https://energynewsafrica.com
The Board of Kaduna Electricity Distribution Company Plc has appointed Engr Yusuf Usman Yahaya as the new Chief Executive Officer of the Company.
His appointment follows the resignation of Engr Garba Haruna, who has led the Company since 2014 and is moving on to pursue other professional and personal endeavours.
Yahaya assumes leadership of Kaduna Electric with diverse public and private sector experiences and educational background in Petroleum and Gas Engineering from the University of Port Harcourt in Nigeria, a Master of Business Administration from Heriot-Watt University, Scotland, and is currently a fellow of Doctor of Philosophy.
He has received training in policy design and evaluation at Oxford University and Harvard University.
Until his appointment, Yahaya was an Expert Consultant with the USAID Nigerian Power Sector Programme and Senior Advisor to the Managing Director of the Rural Electrification Agency.
Before this time, he led an energy advisory and projects company on investments and the development of proprietary and third-party frontrunner on-and off-grid thermal greenfield renewable projects.
In this role, he has been the lead consultant and advisor on industry agreements and corporate turnaround strategies in the Nigerian electricity distribution sector.
Previously, he was at various times a strategic analyst and specialist at the General Electric Company, working within the Global Growth Organisation on flag-planting and market development strategies on portfolio across Transportation, Power and Water, Healthcare, and Oil and Gas.
He left the company as Country Manager for GE Water & Process Technologies.
Yahaya is a member of several professional associations including the Council for the Regulation of Engineering in Nigeria, the Nigerian Society of Engineers, the Financial Reporting Council of Nigeria, the Society of Petroleum Engineers, the Project Management Institute and the Corporate Governance Society of Nigeria.
He is a Fellow of the Nigeria Institution of Power Engineers, a Fellow, a Chartered Institute of Project Managers of Nigeria and a Fellow of the Institute of Management Consultants.
The Board thanked Haruna for his leadership of the Company and his devotion to the organisation.
As a pioneer Managing Director, he has provided a foundation for the Company.
The Board extends its best wishes to Engr Yahaya in his new posting at Kaduna Electric.
Source: https://energynewsafrica.com
Ghana’s President Nana Akufo-Addo has told labour unions in the West African country that calls for the removal of taxes on petroleum products are not workable.
According to the Ghanaian leader, part of the revenues from the taxes on petroleum products is what is used to pay the salaries of some of the seven hundred thousand public sector workers on the government’s payroll.
President Akufo-Addo, who was speaking to Ghanaian workers on May Day, noted that “removing taxes on petroleum products will reduce government revenues by some four billion Cedis (GH¢4 billion).
“At this time, when we are determined to expand government revenues to increase our capacity to finance our development, can we afford to reduce tax revenues by GH¢4 billion?” he asked.
Ghanaian workers, through their umbrella body the Trades Union Congress (TUC), recently, demanded that the government removes taxes on petroleum products to cushion consumers from the rising cost of fuel.
Responding to their demand, President Akufo-Addo said the government is implementing measures that would help stabilise fuel prices.
“We are addressing the issue of fuel price increases by implementing measures that are succeeding in stabilising the exchange rate, a key determinant of fuel prices.
“Government is also working hard to ensure reliable supply and availability of petroleum products, thereby, preventing shortages, a phenomenon which is being experienced in some other neighbouring countries. By the same token, we are keeping the lights on in Ghana,” he emphasised.
Additionally, President Akufo-Addo said intense efforts are being made to rehabilitate the Tema Oil Refinery to enable it to contribute to stabilising petroleum prices, which should see the light of the day very soon.
Source: https://energynewsafrica.com
The Government of The Gambia has announced a reduction in prices of petrol (PMS) and diesel (AGO) at the pumps for May.
Consumers will now buy petrol at 69.52 dalasis (equivalent to $1.29) and diesel at 64.78 dalasis (equivalent to $1.20).
Previously, a litre of petrol was sold at 70.52 dalasis (equivalent to $1.30) dalasi while diesel was sold at 75.78 dalasis (the equivalent to $1.40).
A statement issued by the West African nation’s Ministry of Petroleum and Energy said the reduction is geared towards easing the effects of the price hikes on the general public, especially during this extended holiday period.
The statement said the Government of The Gambia would continue to mitigate these external pressures on the pump prices by absorbing some of the shocks.
“With no certainty of the normalisation of geopolitical, the Government would like to assure the public and businesses that various measures will still be in place to ensure energy security, sustainable retail price and long term price stability,” the statement said.
Source: https://energynewsafrica.com
The Management of Ibadan Electricity Distribution Company (IBEDC) has celebrated its esteemed customers and Nigerians with a peaceful and joyful Eid-Fitr.
The Company, in a goodwill message signed by the Chief Operating Officer (COO), Engr John Ayodele, congratulated Muslims for the successful completion of the Holy Month of Ramadan, which marks the end of the fasting period.
Engr Ayodele, while reflecting on the lessons of Ramadan such as empathy, unity and mutual respect, said the fasting may have ended but it is important to sustain the virtues, ideals and values beyond the month of Ramadan, considering the benefits to individuals and the country at large.
He explained that IBEDC has put stringent measures in place to ensure good service delivery during the holidays.
“We are aware that our customers are looking forward to enjoying power supply during the holidays, so our technical crew are available to rectify any faults that may arise during this period, and our customer care line 0700123999 will remain active to respond to complaints and reports promptly.
The COO also admonished consumers not to engage quacks to fix faults on any electrical installations and appliances around them.
“It is illegal and dangerous for anyone to trade, live or work near electricity installations or even tamper with them. Motorists are also advised to avoid driving under the influence of alcohol and observe traffic rules to prevent collision with electrical poles and other accidents,’’ he said.
Engr Ayodele further encouraged customers to take advantage of the company’s hassle-free channels of payment to pay bills and vend such as Quick teller, Payarena, Jumia, Watu, Buypower and ATM to avoid disconnection during the holiday period.
“Our offices will also remain open during the public holidays from 9 am-3 pm; you can also email us at [email protected],” he added.
Ghana’s energy sector state-owned institutions recorded cumulative losses of about Gh¢ 9.1 billion between 2018 and 2020.
These losses were recorded by eight energy sector agencies namely Tema Oil Refinery (TOR), Northern Electricity Distribution Company (NEDCo), Ghana Grid Company (GRIDCo), Bulk Oil Storage and Transporation Company (BOST), Volta River Authority (VRA), Volta Aluminium Company (VALCO), Ghana National Petroleum Corporation (GNPC) and Electricity Company of Ghana (ECG).
The agencies recorded losses of GH¢3.7 billion in 2018, GH¢2.9 billion in 2019 and GH¢2.5 billion in 2020.
Except Bui Power Authority (BPA) and Ghana National Gas Company (GNGC) which recorded profits in 2018, 2019 and 2020, Volta River Authority recorded a profit of Gh¢156.5 million in 2020, while GNPC booked a profit of Gh¢539.2 and Gh¢204.35 in 2018 and 2019.
Bui Power Authority recorded profits of Gh¢238.1million, Gh¢209.7 million and Gh¢314.1 in 2018,2019 and 2020 while Ghana National Gas Company booked profits of Gh¢183.04 million, Gh¢81.58 million and Gh¢217.46 in the same period.
The figures were contained in the State Ownership Report (SOR)
titled ‘The state of the energy and extractive sectors of Ghana’ prepared by State Interest and Governance Authority (SIGA).
Commenting on the State Ownership Report at a press conference in Accra, Executive Director of the African Centre for Energy Policy (ACEP), Benjamin Boakye, said the report has revealed how bad it is for government to continue to conduct business, particularly in areas where it is supposed to regulate.
He said the power sector remains unsustainable and a major threat to economic growth; noting that urgent steps are required to stop the debt accumulation and ensure the settlement of existing debt more sustainably.
In 2020 and 2021 alone, Mr Boakye said the government’s settlement for the energy sector under-recoveries was more than GH¢14 billion – GH¢6.8 billion in 2020 and GH¢7.2 billion in 2021, a situation that he stressed must not be allowed to continue.
The inability to control under-recoveries, he explained, also undermines the objective of the Energy Sector Levy Act (ESLA)–a special purpose vehicle that issues long-term bonds to resolve the sector’s indebtedness.
“Currently, levies paid under ESLA barely settle coupon payments, transaction and administrative costs. Outstanding bonds to be settled at maturity amounts to GH¢8.7 billion,” he added.
According to him, there is an urgent need to restructure the energy sector institutions.
“Agencies that can be efficiently managed by the private sector and regulated by the state do not need to exist as government agencies are susceptible to political interference and the generation of unwarranted losses, he said.
“Addressing the challenges could free resources for development and realign government priorities toward growth. It remains injurious for billions of debts to be created in the energy sector, whose value exceeds direct investment in infrastructure. For example, the US$1.2 billion spent to pay for under-recoveries in 2021 in the power sector alone could have been useful for building roads and other critical infrastructure,” he recommended.
He further said management and functions of the state’s energy sector institutions require urgent review to reduce the government’s exposure to losses.
“The State Interests and Governance Authority (SIGA) must accelerate its review of the SOE’s performance and determine which of them require divestiture, particularly those competing with the private sector in areas where regulation can achieve the same result.
“SIGA must immediately reform appointment, recruitment and other corporate governance practices to comply with acceptable corporate standards,” it further stated.
Source: energynewsafrica.com
The founder and Chief Executive Officer of TSAVO Oilfield Services, a leading Kenyan energy consultancy company, Mrs. Elizabeth Rogo, has been appointed board member of the National Oil Corporation of Kenya.
Mrs. Rogo has vast experience within the upstream, middle stream and downstream segments of the energy industry.
She is an engineer by profession with over 21 years of experience in the energy industry.
Commenting on her appointment, Executive Chairman of African Energy Chamber, NJ Ayuk said Rogo’s experience is critical in boosting oil and gas exploration, production and exploitation to help Kenya address energy poverty and accelerate economic growth.
Kenya’s over four billion barrels of proven crude oil reserves and a largely underdeveloped natural gas sector would be vital to improving energy access in the country.
The appointment of Rogo as a board member of the National Oil Corporation is a game-changer in that direction.
With fossil fuels accounting for 32.5 per cent of Kenya’s energy mix, Rogo’s experience in oil and gas production would help shape the country’s direction in optimising oil production to meet domestic energy needs.
Despite having massive oil reserves, Kenya is a net oil and fuel importer and spends large amounts of money on the importation, a development that is straining the country’s economy.
In addition, with recent geopolitics development such as the Russian-Ukraine war increasing the global prices for crude oil, the vulnerability of Kenya’s economy to global price volatility has further intensified, highlighting the need for Kenya to up its game in exploiting domestic energy resources “and forces like Rogo are vital in enabling Kenya to achieve this.”
Moreover, with a lack of adequate investments having restrained the growth of Kenya’s hydrocarbons segment over the past years, Rogo’s experience in growing strong strategic partnerships with TSAVO Oilfield Services and as a Business Development Manager with Weatherford would be critical in helping the National Oil Corporation of Kenya to attract foreign direct investments to enhance midstream and downstream infrastructure development.
In addition, with Kenya seeking to optimise the monetisation of its oil resources to drive GDP growth, which the World Bank anticipates would expand by five per cent in 2022, Rogo’s sales and marketing experience with Baker Hughes would help the National Oil Corporation to optimise the marketing of petroleum products.
“The AEC applauds the Kenyan government for its continued efforts in ensuring gender diversity within the energy sector. We believe forces like Elizabeth Rogo will help this NOC become a world-class corporation that meets our energy needs of the future but also remain instrumental in ensuring energy poverty is addressed in Kenya and across the African continent by 2030 through the exploitation of domestic resources,” states NJ Ayuk, Executive Chairman of AEC said, adding that “The AEC is also confident that Kenya’s energy sector is headed for success with the appointment of a strong fighter and role model like Rogo.
“Stakeholders like Rogo will be influential in helping Africa to develop its narrative of what a just and inclusive energy transition looks like. This is what we will also be discussing at the upcoming African Energy Week.”
Source: https://energynewsafrica.com
The African Development Bank (AfDB) Group has released $180 million to Rwanda to finance rural electrification projects mainly in the south of the country.
Of the $180 million, $140 million represents a loan from the African Development Bank’s (AfDB) sovereign window while the other $40 million is from the Growing Together in Africa Fund, a $2 billion facility funded by the People’s Bank of China (PBC) and administered by the AfDB.
The funding is for the implementation of the Transmission System Strengthening and Last Mile Connection Project (TSRLMC).
This project aims to increase access to electricity in rural areas of Rwanda, and it is part of the Rwanda Universal Electricity Access Program (RUEAP) which will be implemented in 2024.
Under the TSRLMC, the Rwandan government plans to build more than 1,000km of medium voltage lines and 3,300 km of low voltage lines to facilitate access to electricity down to the last mile.
It will also build 137km of high voltage lines and six substations to reinforce the network.
The project will also install or upgrade over 1,200 distribution transformers and related infrastructure.
According to the Rwandan government’s projections, the TSRLMC will provide access to electricity to 77,470 households.
The project will also benefit 75 schools, eight health centres and 65 administrative centres while providing 125MW of clean electricity from hydroelectric plants.
The construction and management of the future infrastructures are expected to create 455 permanent jobs and 760 part-time jobs, 30 per cent of which will be for women.
“This project will improve the quality of life of the population by facilitating better access to education and health. It will also stimulate private sector growth, thus contributing to Rwanda’s social and economic transformation programme, which aims to transform it from a developing country to a middle-income country by 2035,” Aissa Touré-Sarr, AfDB Group Country Director for Rwanda, said.
According to the pan-African financial institution based in Abidjan, Ivory Coast, the recently allocated additional funding will support works in southern Rwanda, mainly in the localities of Gisagara, Huye, Nyamagabe, Nyanza, Nyaruguru and Ruhango.
The project will also increase access to the grid in the towns of Nyarugege, Nyamata, and Kigali Hub “as well as in other localities in the country where increasing commercial activity has increased the electricity demand,” the AfDB says.
The TSRLMC has already secured $84.2 million in financing from the African Development Fund (ADF), the concessional lending window of the AfDB Group, in 2021.
Rwanda currently has an electricity access rate of 49 per cent, according to Power Africa.
Source: energynewsafrica.com
“Government has, therefore, designated a free zone area for the development of petroleum and petrochemical refineries, storage and transportation facilities for the export of products to largely African markets. This requires collaboration with the private sector to achieve the objectives of the Hub,” he emphasised.
The Deputy Minister for Energy stated that the government established the Ghana Petroleum Hub Corporation which was necessitated by investors’ demands for the removal of ‘regulatory fatigue, red tapes and long lead times in project development’.
That, he said, was to facilitate the issuance of permits and licences to potential investors “and to play a rapid response role in addressing the challenges investors encounter in delivering on projects.”
In a related development, the Deputy Minister for Energy, Dr Mohammed Amin Adam, in a brief ceremony, officially opened Ghana’s pavilion at the OTC at the NRG Park in Houston Texas.
The OTC, an annual event, provides energy professionals with the opportunity to meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters and has expanded technically and globally with the Arctic Technology Conference, OTC Brasil and OTC Asia.
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com
Source: https://energynewsafrica.com 
Bui Power Authority recorded profits of Gh¢238.1million, Gh¢209.7 million and Gh¢314.1 in 2018,2019 and 2020 while Ghana National Gas Company booked profits of Gh¢183.04 million, Gh¢81.58 million and Gh¢217.46 in the same period.
The figures were contained in the State Ownership Report (SOR)
titled ‘The state of the energy and extractive sectors of Ghana’ prepared by State Interest and Governance Authority (SIGA).
Commenting on the State Ownership Report at a press conference in Accra, Executive Director of the African Centre for Energy Policy (ACEP), Benjamin Boakye, said the report has revealed how bad it is for government to continue to conduct business, particularly in areas where it is supposed to regulate.
He said the power sector remains unsustainable and a major threat to economic growth; noting that urgent steps are required to stop the debt accumulation and ensure the settlement of existing debt more sustainably.
In 2020 and 2021 alone, Mr Boakye said the government’s settlement for the energy sector under-recoveries was more than GH¢14 billion – GH¢6.8 billion in 2020 and GH¢7.2 billion in 2021, a situation that he stressed must not be allowed to continue.
The inability to control under-recoveries, he explained, also undermines the objective of the Energy Sector Levy Act (ESLA)–a special purpose vehicle that issues long-term bonds to resolve the sector’s indebtedness.
“Currently, levies paid under ESLA barely settle coupon payments, transaction and administrative costs. Outstanding bonds to be settled at maturity amounts to GH¢8.7 billion,” he added.
According to him, there is an urgent need to restructure the energy sector institutions.
“Agencies that can be efficiently managed by the private sector and regulated by the state do not need to exist as government agencies are susceptible to political interference and the generation of unwarranted losses, he said.
“Addressing the challenges could free resources for development and realign government priorities toward growth. It remains injurious for billions of debts to be created in the energy sector, whose value exceeds direct investment in infrastructure. For example, the US$1.2 billion spent to pay for under-recoveries in 2021 in the power sector alone could have been useful for building roads and other critical infrastructure,” he recommended.
He further said management and functions of the state’s energy sector institutions require urgent review to reduce the government’s exposure to losses.
“The State Interests and Governance Authority (SIGA) must accelerate its review of the SOE’s performance and determine which of them require divestiture, particularly those competing with the private sector in areas where regulation can achieve the same result.
“SIGA must immediately reform appointment, recruitment and other corporate governance practices to comply with acceptable corporate standards,” it further stated.
Source: energynewsafrica.com