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Privatization of ECG Government begins evaluation of ECG assets

A memo signed by the Director of Finance at ECG, Frank Anokwafo directed the General Managers of ECG in Accra West branch, Eastern, and Western Regions to prepare for a thorough declaration and revaluation of the assets of the company.

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Government has appointed auditing firm KPMG to undertake the evaluation of fixed assets of the Electricity Company of Ghana (ECG) as part of moves to privatize the company.

A memo signed by the Director of Finance at ECG, Frank Anokwafo, directed the General Managers of ECG in Accra West branch, Eastern, and Western Regions to prepare for a thorough declaration and revaluation of the assets of the company.

READ MORE: ECG to disconnect gov't institutions owing bills

The memo noted that government has contracted Messrs KPMG as “consultants to undertake a physical inventory and revaluation of the company’s fixed assets in fulfillment of its policy of carrying out this exercise every five years and also to assist in determining appropriate values to be assigned them for the impending concession arrangement.”

"The consultant and his team will be visiting your region and a number of districts from 20th June 2016 to 1st July 2016 to do a physical inventory of both movable and immovable property i.e. vehicles, substations, switchgear, computers, electricity networks and all others," according to the memo.


In addition, the memo ordered the release of the regional and district engineers to assist the team of evaluators in locating the networks and various substations as well as switchgear in the regions.

It also called for the release of "transport officers to assist the team to identify all vehicles in the regional and district offices; the release of a human resource officer to assist the team in identifying structures in the region."

"The provision of first class accommodation (including meals) to the team which includes expatriates," it added.

The memo also urged the General Managers of ECG across the country to support the exercise with all “the necessary attention and seriousness it deserves.

READ MORE: ECG to begin mass disconnection exercise

The directive is part of president Mahama’s effort to “fix” the challenges in the distribution of energy in the country.

“You fix a situation by taking risks. It is a risk we took when we deregulated telecommunications. If you are not ready to take risks then the world is not ready to make progress,” president Mhama explained at an ICT expo in Accra.

Meanwhile, ECG will begin a nationwide disconnection exercise today Monday 20 in a move to recover debt owed it by consumers.

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