Mr. John Boadu, the recently appointed Director General of the State Interests and Governance Authority (SIGA) paid a working visit to GRIDCo on Friday, March 22, 2024.
Ing. Mark Baah, Director, Corporate Strategy Department & Advisor to the Chief Executive on the Implementation of the Ghana Wholesale Electricity Market (GWEM), welcomed Mr. Boadu on behalf of the Chief Executive, who was out of office on an equally important assignment. He indicated how pleased Management and staff were for such an important visit.
“I am pleased to have finally made this much-awaited visit since my appointment. I have noticed with keen interest, how over the years, GRIDCo has been among the very compliant State-Owned Enterprises (SOEs). No wonder GRIDCo remains among the top institutions at the Public Enterprises League Table (PELT). I am here to know firsthand, your challenges, offer support where it is most needed, and importantly, for us to chart the way forward,” remarked Mr. Boadu at the meeting.
Ing. Baah led the delivery of a presentation on GRIDCo’s operations, highlighting challenges, including encroachment on the Right of Way and galamsey activities. The presentation also touched on constraints on the transmission network now and going into the future and GRIDCo’s difficulties in securing funding for the construction of much-needed transmission lines because of cash flow challenges.
“GRIDCo is a very viable Company on paper. However, poor payments by ECG our main customer have contributed to our financial woes. Such a situation adversely impacts our maintenance activities and our ability to procure much-needed spare parts and equipment, said Mr. Samuel Nkansah, Director Finance. He urged players in the industry to appreciate GRIDCo’s role in the value chain, as he looks forward to an improved situation, especially on how – together with the PURC and other players – to make the Cash Waterfall Mechanism (CWM) work well, again.
The SIGA boss was impressed by GRIDCo’s activities, despite the challenges but expressed worry about the hitches in the smooth running of the CWM. He also underscored the need for more education on GRIDCo’s operations and challenges. He indicated SIGA’s readiness to keep partnering with GRIDCo for further improvement.
After touring the System Control Centre (SCC), Mr. Boadu commended the Management and staff of the Company for the professionalism applied in handling their work. He was particularly impressed about the existence of GRIDConsult, noting, “promote it more, to share the wealth of knowledge and expertise accrued from the VRA-GRIDCo way of working.
The visit formed part of a roadshow to some players in the electricity industry, by the Management of SIGA, not only to introduce their new boss but also to familiarise themselves with situations on the ground in these institutions and offer assistance in the process.
In attendance were GRIDCo Management staff and a cross-section of Management staff from SIGA.
GRIDConsult is the business development arm of GRIDCo, which offers tailor-made solutions to client requirements to meet their needs in Engineering and Project Management, Operations and Maintenance Support, Technical Training, and Customized Services.
SIGA was established on 7th June, 201 under the SIGA ACT 2019 (ACT 990) with the mandate to oversee and administer the performance of State-Owned Enterprises (SOEs), Joint Venture Companies (JVCs), and other State Entities (SOEs) in Ghana.
