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documents and reportsMiDA ORGANISES ROAD SHOW FOR PSP TRANSACTION IN ECG
As Deputy Power Minister urges investors to take advantage of networking opportunities from roadshow.
Accra, April 18, 2016. The Millennium Development Authority, MiDA, has organised a Road Show for prospective investors seeking to manage, operate and invest in Ghana’s largest power distributor, Electricity Company of Ghana (ECG). The Roadshow, held in Accra, is an event under the Private Sector Participation in ECG activity within the ECG Financial and Operational Turnaround (EFOT) Project, which is one of six major projects under the Ghana Power Compact Programme.
Over 150 participants, including ministers of state, government officials, representatives from the Ministries of Power, Finance, Justice and Attorney-General, Gender, Children and Social Protection, management officials of ECG, PURC and Energy Commission attended the event. Local and foreign organisations that have expressed interest in the Private Sector Participation (PSP) in ECG transaction, development partners and financial institutions were also present.
In his welcome address, Ing. Owura Sarfo, Chief Executive Officer of MiDA, expressed his pleasure that so many of the invitees had honoured the request to attend the Roadshow. “I see today’s event as part of the process to positively transform Ghana’s Power sector” he said. Ing. Sarfo explained that the Road Show was to provide more information on the transaction and to give prospective investors an opportunity to meet other investors, form strong alliances and to also facilitate the promotion of local content requirement in the PSP transaction.
Launching the Road Show, Hon. John Jinapor- Deputy Minister for Power, commended MiDA for putting the event together and reiterated government’s commitment to the PSP in ECG transaction. He said “government’s objective for the PSP in ECG is to have a technically and financially sound ECG, which is key to making Ghana’s power sector a vital engine of the country’s development.” “I urge everyone present here to take advantage of the networking opportunity provided here to deliberate on ways to collaborate and take advantage of the opportunities that the project presents particularly with regards to local content requirements.” Hon. Jinapor said.
As part of processes towards selecting a concessionaire for the transaction, MiDA recently published, in the Ghanaian and foreign print media, a request to pre-qualify (RfQ) for selection of a concessionaire to operate, manage and invest in ECG. A presentation explaining the RfQ process was delivered by Julius Kpekpena, Chief Operating Officer of MiDA. He explained that the RfQ spells out the criteria to qualify companies that have expressed interest in the PSP in ECG transaction. Companies that have expressed interest in the transaction, also known as bidders, will be shortlisted following the RfQ to submit their proposals on how they intend to operate the concession under the terms and conditions highlighted in the Request for Proposals (RfP)
Mr Kpekpena also said that submissions for both the RfQ and the RfP will be reviewed by an independent panel of reviewers constituted for each process. He emphasized that MiDA is waiting to receive the credentials of nominated panel members from agencies and institutions with expertise in reviewing procurement processes of this nature.
Prospective investors or bidders who attended the event acknowledged that the roadshow had been worthwhile and are looking forward to the processes leading to the award of the concession to the winning bidder.
