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PDS Saga: US Embassy rejects Minority call for probe

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ABC News Ghana can authoritatively report that the US Embassy in Ghana has dismissed a request by the Minority in parliament for a separate probe into issues of alleged fraud in the PDS-ECG concession arrangement.

The Minority in a letter signed by its leader, Haruna Iddrisu, and submitted to the Embassy on Wednesday by its Ranking Member on Foreign Affairs Committee Okudzeto Ablakwa, demanded a separate probe by the US embassy into the PDS-ECG concession deal on the basis that they(the minority) do not trust the government to carry out a fair investigation.

However, this request has been shot down by the Embassy who is of the strong conviction that the Government of Ghana is in a position to conduct an independent probe into the matter and amicably resolve the challenges that have confronted the concession agreement in a transparent manner.

The US Embassy in its response said “The U.S. Government strongly supports the decision taken by the Millennium Development Authority (MiDA) Board of Directors to authorize and hire an independent investigator to conduct a forensic audit of the claimed material breaches in order to fully establish the facts of the matter. Only then can all relevant parties make a transparent and evidence-based decision that is in the best interest of the citizens of Ghana”.

It went on to establish that, “the United States’ interest is in a transparent, well-run transaction that meets international standards for private sector participation, investment, and operations. The U.S. Government expects that MiDA, PDS, and the Government of Ghana will continue to work together to implement the bold solutions and partnership of the MCC compact that has been fostered to enhance the reliability of the country’s power network and improve the lives of millions of Ghanaians.”

The government took a decision to suspend the concession agreement after it found evidence of alleged fraud perpetrated by the private entity, PDS.

Investigations have been commenced by the government in earnest with separate delegations meeting with the Qatar based reinsurance company Al Koot and the US government to delve deeper into the matter at hand.

Despite the suspension, both parties, ECG and PDS have arrived at a consensus on a temporal management structure to ensure smooth operations and continuous delivery of service to the customer.

PDS under the concession arrangement was to make the business of power distribution in the country more efficient.

Find below the details of the US Embassy response stating their position.

U.S. Embassy’s Response

The Millennium Challenge Corporation (MCC) Ghana Power Compact was signed in 2014 and is a $498 million investment in the transformation of the country’s energy sector through private sector participation and key policy and institutional reforms that will provide more reliable and affordable power to the Ghanaian people. The MCC Ghana Power Compact is expected to benefit an estimated 9.7 million Ghanaians over the next 20 years.

The 20-year concession of the Electric Company of Ghana Ltd (ECG) to private operator Power Distribution Services Ghana Ltd (PDS) aims to improve the operations, maintenance, and service to the millions of customers within Ghana’s southern distribution network. The concession does not shift the ownership of ECG’s distribution network to PDS or any other entity. The distribution network remains the property of the Government of Ghana, and under the financial structure of the concession, at all times, Ghanaian investors will hold a minimum of 51% of the ownership interests in PDS.

On July 30, 2019, the Government of Ghana, through the Ministry of Information, announced the suspension of the 20-year concession, citing alleged “material breaches” of its agreement with PDS. We believe, and our partners in the Government of Ghana agree, that private sector participation is essential to restoring the financial health of Ghana’s energy sector.

The U.S. Government strongly supports the decision taken by the Millennium Development Authority (MiDA) Board of Directors to authorize and hire an independent investigator to conduct a forensic audit of the claimed material breaches in order to fully establish the facts of the matter. Only then can all relevant parties make a transparent and evidence-based decision that is in the best interest of the citizens of Ghana.

The United States’ interest is in a transparent, well-run transaction that meets international standards for private sector participation, investment, and operations. The U.S. Government expects that MiDA, PDS, and the Government of Ghana will continue to work together to implement the bold solutions and partnership of the MCC compact that has been fostered to enhance the reliability of the country’s power network and improve the lives of millions of Ghanaians.

 


Source: abcnewsgh.com

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Business

Ndoum resigns from board of Gold Coast Brokerage; changes company’s name

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The Chairman of Groupe Nduom, Dr. Papa Kwesi Nduom has resigned from the Board of Gold Coast Brokerage Limited.

A statement from the Ghana Stock Exchange to Citi Business News confirmed the announcement.

Dr. Papa Kwesi Nduom is resigning from the Board together with Patrick Kobina Anumel.

They are being replaced by Dr. Olivia Anku-Tsede, Mr. Joseph Kusi-Tieku as well as Mr. Kwesi Abedu Wilson.

It is unclear what has led to the resignation of the two from the Board of Gold Coast Brokerage.

Meanwhile, the statement from the Ghana Stock Exchange has equally indicated the change of name of the company to Teak Tree Brokerage Limited.

Gold Coast Brokerage is a licensed brokerage firm offering stock brokerage, investment advisory & Treasury management services.

It is licensed by the Securities & Exchange Commission as a Broker-Dealer and registered as a Licensed Dealing Member of the Ghana Stock Exchange (GSE) as well as a Central Securities Depository participant.

Gold Coast Brokerage is a member of Groupe Nduom which is a family business group of Ghanaian and American Origin.

The company was incorporated on June 8, 2012 and started operations on July 1, 2012, to continue the tradition of service excellence from our mother company Gold Coast Securities.

This was as a result of a regulatory directive to separate the Fund Management license and the Broker-Dealer license.

Meanwhile, the name of the company has been changed effective Monday, September 9, 2019. Here is a news desk report on the announcement.

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Top 5 online shops in Ghana

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Online shops in Ghana are now getting much better and sophisticated. With the increase in demand for digital products, convenience and the rise in peoples’ trust in the online business, a lot for online shops have been created.

Unlike years back, when most people fear to buy things online, today, people feel ease to key their credit cards on the internet stores to purchase any goods they want with a high percentage believe that they will get their products. We have seen the coming into being of many online shops in Ghana for the past years. Each day, new Ghanaian online shops are being created and these stores offer a wide variety of products that anyone from Ghana and beyond can buy have it shipped to wherever he/she stays in Ghana.

ALSO READ: Standard Chartered Bank Branches and Contact in Ghana

The like of Jumia and that of Kikuu has been the talk of the day. Most people feel like these two popular stores are the only shops in Ghana that offer great products at a cheaper price. But little do they know there are others that can compete with these stores. In this post, we are going to look at these Ghanaian owned online shops you can buy from. So without wasting further time lets dive to the point.

Below are some of the online stores you can buy from in Ghana:

  • Jumia
  • Kikuu
  • Zoobashop
  • Superprice
  • Melcom Ghana

Now let’s look at these sites in details. What they sell and how you can purchase from the site.

Jumia Ghana

Jumia is currently one of the leading online shops in Africa selling all categories of products. It has operations in almost all the Africa countries including Ghana. Jumia Ghana has grown to the stage where all their products can easily be accessed from every corner of the country.

jumia shop

 

With its best delivery method and supportive staff, customers turn to love them most. Jumia Ghana offers a variety of products ranging from Phones & Tablets, Electronics, Computing, Fashion, Home & Office, Health & Beauty, Gaming, Accessories, Clothing, Grooming & Healthcare Kits, Diapering, Grocery. etc. It has recently added a section for travel that allows one to book hotels. If you are from the capital city, you can use the Jumia food section to order food and get it delivered to your location within the city.

Kikuu

Kikuu is a Chinese based store with operations in Ghana. Kikuu has been one of my favourite stores for online shopping. the products offer on this shopping site are amazing because of the price, the time taken to get the goods in Ghana, and the payment method used for buying items. A lot of people have fallen for this site also.

kikuu

The Kikuu shop is well patronized by students and unemployed graduates. Most students use this site for their benefit. I got to know of this site way back in 2016 when I was in the university through a female friend. This friend of mine by then knew of this shop which she uses to make some decent amount of money on campus.

During that time, the store was not all that popular among the students. So most people who were aware of it bought products at cheaper prices and then sold them to their colleague students at a profit margin. What makes Kikuu the best is the fact that they have their agents all over the regions and district capitals of Ghana.

Once you shop on this store, you are given a tracking page most especially when you use the app. With the tracking, you get to know the status of your order at any checkpoint.

Zoobashop

Another great e-commerce shop in Ghana that has been in the system for some time now is the Zoobashop.

It offers products ranging from home appliance, phones, groceries, food and drinks, beauty, fashion, baby products, books & games, kids and toys. This site was once among and still belong to the largest market online shop in Ghana.

zoobashop

Zoobashop has a well define product categories which allows you to easily navigate through the site to find what so ever product you want. Check the site here to see for yourself.

Melcom Ghana

Melcom shopping Centre is not a new deal to many since they are already familiar with their local brick and mortar stores. Every ordinary Ghanaian knows of this shopping Centre.

Melcom in its quest to be among the business that serves customers both online and offline created the Melcom online shopping Centre.

 

melcom online

This online shop serves as the digital presence of the Melcom Shopping Centre. On this shop, you can easily order goods and service that you could have order offline when you visit the physical shop outlet.

Thanks to the internet and the coming into existence of the Melcom online shop, today you can sit in the comfort of your home and order these same products then get them delivered to your home with no extra cost.

SuperPrice

 

Just like zoobashop.com, the superprice online shopping site also offers great products that you can easily add to your cart. electronics products and other items such as cloths include the Zoobashop.

superprice

The website has a wide variety of items such as smartphones, Men’s Fashion, Women’s Fashion, Kids & Baby Fashion, TV Audio & Video, Home & Living, Beauty & Perfumes, Sports & Fitness, Landline Phones, Books & Other Categories.

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Ecobank Branches in Accra

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Ecobank Ghana is a commercial bank in Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator. Ecobank Ghana is a member of the Pan-African Ecobank chain

With over 1,300 branches in 36 countries, Ecobank has one of the biggest branch networks on the continent. While you can enjoy Ecobank banking services online, on your mobile and at ATMs, the bank continues to offer friendly advice and support for your everyday banking in their branches.

All their branches are designed to easily meet their customers’ banking needs. They have tailored each branch interior to clearly identify how they efficiently serve their customers.

Key features:

  • For Classic customers – a welcoming, inclusive and accessible teller experience
  • For Advantage customers – dedicated touchscreen spaces offering extra support
  • For Premier customers – special lounges, wherever possible
  • Direct banking spaces, including ATM galleries and Internet access points, for quick electronic banking.

In Ghana, Ecobank has 67 branches network with 230 ATMs across the country. The list below is the branches of Ecobank in Accra:

    
Ecobank Abeka Branch
Akweteyman
030 700 1497
Ecobank Haatso Branch
Accra
030 221 3999
Ecobank Ghana Limited (Head Office)
Accra
030 221 3999
Ecobank Tema Motorway branch, Gyau Towers
Tema
030 330 5510
Ecobank - Silver Star, Airport Branch
Accra
030 276 7404
Ecobank Dansoman branch
Accra
030 232 6580
Ecobank - Darkuman Branch
Accra
030 221 3999
ECOBANK ABEKA-LAPAZ BRANCH
030 223 0061
EcoBank Ghana - Kotobabi Branch
Accra
030 221 3999
ECOBANK SAKUMONO BRANCH
030 221 3999
Ecobank Okponglo Branch
Accra
030 292 2401
Ecobank Abeka Branch
Akweteyman
030 700 1497
Ecobank A&C Mall Branch
ANC shopping center
Accra
Ecobank Tudu Branch
Accra
026 778 3452
Ecobank - Madina Branch
Madina
030 221 3999
Ecobank Tesano
030 221 3999
ECOBANK KWABENYA BRANCH
Dome
030 240 9241
Ecobank Westlands Branch
Accra
030 241 4872
Ecobank Legon Main Branch
University of Ghana campus, Near Alumni Office, Accra
Ecobank Mile 7 Branch
Nsawam Road
Ecobank - Spintex Branch
Accra
030 221 3999
ECOBANK ASHAIMAN BRANCH -
Accra
Ecobank - Accra Mall Branch
030 282 3053
ECOBANK EAST AIRPORT BRANCH
Accra
030 221 3999
Ecobank Roman Ridge Branch
Accra
030 224 1883
Ecobank - Osu Branch
Accra
030 268 1167
Ecobank Labone Branch
Accra
Ecobank Weija Branch
Accra
030 285 3202
Ecobank - Ring Road Branch
Accra
030 224 4007

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