Allow private sector participation in ECG, GRIDCo to make them viable - Otumfuo to government

Asantehene, Otumfuo Osei Tutu II, has called on the Akufo-Addo government to confront the realities of the economic landscape and focus on implementing policies that stimulate the growth of industries, thereby fostering job creation and attracting increased investment.

In addition to his call for policy prioritisation, the Asantehene proposed diversifying public enterprises such as the Volta River Authority (VRA) and the Ghana Grid Company (GRIDCo) by engaging the private sector.

He emphasised that involving private entities would ensure vital financial investments and the injection of fresh ideas, competencies, and resources necessary for their sustainability.

According to the revered king, without such reforms, both the government and the Ghanaian populace would fail to reap the benefits of these state-owned enterprises.

These remarks were delivered during the commissioning of a 430-kilometre natural gas pipeline by Genser Energy on Wednesday, April 17.

“It’s about time that the government realises that it’s not going to work for the government to be involved in setting up companies without involving the private sector.

The government should confront policies and involve the private sector and you can attract more investors into the country which will create more employment.

“VRA and others are all government establishments, let’s give it out and diversify them into the private sector and get more money there and get the right people to do it.

GRIDCo and others let’s give them the money and get the qualified people, diverse government from it and let them work.

Electricity Company is in a situation where we don’t know, but that also must be diversified and given to the private sector.

“Why are we still holding on when we don’t have the money?

We’re hanging onto industries we cannot maintain and run.

“It’s about time we face reality and decide on what government should be doing and what the private sector should be doing.

This is a testimony of the private sector, and they were able to attract investors," he said.

Meanwhile, the government says the inauguration of the pipeline represents a significant step forward in bolstering the nation's power sector, enhancing its capacity and reliability.