VRA should remain a public asset – GITFiC boss on Otumfuo’s privatisation calls

The Chief Executive Officer of the Ghana International Trade and Finance Conference (GITFiC), Selasi Koffi Ackom, says the Volta River Authority (VRA) should remain a public asset and be clothed with more power and authority instead of diversifying it.

This comes following calls by the Asantehene, Otumfuo Osei Tutu II, on government to diversify some agencies in the power sector like the Electricity Company of Ghana (ECG) and VRA for efficiency.

“In as much as I support diversification as a matter of principle, VRA cannot be diversified as asserted by His Royal Majesty, the Otumfuo Osei Tutu (with all due respect) in his recent public address,” Mr Koffi Ackom stated.

“VRA should remain a public asset but with more power and autonomy.”

He further explained that managers of the Authority have proven “very competent” in managing the affairs.

“There’s been prudent management of the authority in several spheres. If given the full support needed, the current managers of the VRA are capable of forging sustainable partnerships and expand their frontiers for massive profitabilities.”

He emphasised that not only will it become autonomous in West Africa but also Africa if VRA is made autonomous.

“VRA has the capacity of becoming a backbone not only within the West Africa subregion but Africa as a whole even so possibly within the context of the AfCFTA. Industrialization is meaningless without sustainable a transformative energy transition. This is where VRA comes in.”

He concluded that VRA goes beyond hydropower and stands for diverse energy generation.