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ECG concession: No layoffs, Bawumia assures workers
Speaking in Washington at an IMF spring meeting, Bawumia explained that the Akufo-Addo administration is renegotiating the deal to ensure that Ghanaians become the majority shareholders.
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"It has to be majority Ghanaian owned. Secondly we have to have an assurance that there will be no lay-offs at ECG as a result of the concession and also it will be managed by Ghanaians. So those are the elements that we have insisted on and also we have gotten an understanding on these elements,” he said.
Under the Compact II agreement, the US government is pushing Ghana to privatise ECG for 25 years in order to benefit from a cash injection of $498 million.
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The agreement has gathered strong opposition from the Trades Union and The Public Utilities Workers Union who argue that the concession is not in the interest of Ghana.
Their key concern is that many ECG staff will be fired when ECG is privatized.
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