Selasi Koffi Ackom, the Chief Executive Officer of the Ghana International Trade and Finance Conference (GITFiC), believes that rather than diversifying, the Volta River Authority (VRA) ought to continue to be a public asset and be endowed with greater power and authority.
This is in response to requests made by Otumfuo Osei Tutu II, the Asantehene, for the government to diversify and increase the efficiency of some power sector institutions, such as the Electricity Company of Ghana (ECG) and VRA.
“With all due respect, His Royal Majesty, the Otumfuo Osei Tutu, stated in his recent public address that VRA cannot be diversified, even though I support diversification as a matter of principle,” Mr. Koffi Ackom said.
“VRA ought to stay a public asset, but with increased authority and independence.”
He went on to say that the Authority’s managers have shown themselves to be “extremely competent” at running the show.
In a number of areas, the authority has been handled sensibly. The current VRA managers are capable of forming long-lasting alliances and extending their boundaries for enormous profitabilities if provided the complete backing required.
He emphasized that if VRA is become independent, it will become autonomous not just in West Africa but also throughout Africa.
“VRA possesses the potential to serve as a pillar not only in the West Africa subregion but also throughout Africa, potentially even in the framework of the AfCFTA. Without a dramatic energy transition that is sustainable, industrialization is pointless. Here’s when VRA becomes useful.
He came to the conclusion that VRA represents varied energy generation and goes beyond hydropower.
