Suspension of PDS was to Protect ECG’s US$3 Billion Assets- Prez. Akufo-Addo

President Nana Akufo-Addo has justified the government’s decision to suspend its concession agreement with Power Distribution Services.

He said the decision was in the interest of the public as it was important to protect the assets of the Electricity Company of Ghana which is worth some $3 billion.

Addressing the Ghanaian community in Angola as part of his two-day visit to that country, President Akufo-Addo said the delegation sent to Qatar have held meetings over the matter and are on their way back to Ghana to report the outcome of the deliberation

We decided that the first thing to do was protect the public assets by suspending the participation of this private sector operator and returning the control of the assets to ECG while the process of investigation will be carried out. Two days ago, I sent a delegation to Qatar which is the origin of the guarantee to go and find out exactly what the situation is then we know exactly where we are…It was necessary for us to act in that manner to protect the public assets. ECG assets are in excess of GHC 3bn. These are not assets that you take lightly.”

Speaking on why the government decided to make the suspension public, Akufo-Addo said it was to ensure transparency.

“It is better that these matters are brought into the public space for the country to know exactly what is going on and therefore be able to hold the government to account for their stewardship,” he added.

This is the first time the President is commenting on the mater since it started about three weeks ago.