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    DDEP: Non-participation will prolong efforts to revive economy – Ofori-Atta

    We need IMF bailout in March or economy will crash – Ofori-Atta to pensioners

    Idris Elba adds Ghana to the list of African countries he wants to partner with

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    Pensioners to picket at Finance Ministry over DDE

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    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

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    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

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    Huawei Equips 500 Traders in FinTech

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    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

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Oteng Gyasi resigns as ECG board chair

bycitibusinessnews
September 19, 2014
in Business, Top Stories
Tony Oteng Gyasi, Former AGI President

Tony Oteng Gyasi, Former AGI President

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The board chairman of the Electricity Company of Ghana (ECG), Tony Oteng Gyasi has resigned from his position.

Citi Business News sources within government confirmed that Oteng Gyasi, who is also the MD of Tropical Cables and Conductors Limited tended in his resignation letter week but the President is yet to respond to his letter.

Our sources say he cited health reasons in his letter of resignation, but some insiders suggest there could be more to his resignation than meets the eye.

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Oteng Gyasi was appointed as ECG board chairman exactly a year ago in September 2013.

His resignation comes at a time when the power sector is going through challenges.

The country is going through another load shedding exercise, with the ECG coming under fire for not releasing a schedule.

Ghanaian households and businesses have endured a 2-week load shedding, attributed to the lack of gas supplies from Nigeria due to a strike by workers in the gas sector.

The Volta River Authority (VRA) had announced that as much as 500 megawatts of electricity would be shed as a result of the shortfall in gas.

The resignation of Oteng Gyasi may also be seen as a setback for the company.

The world bank in a June 2013 report titled ‘Energizing Economic growth in Ghana, criticized the previous  ECG board, noting that an organization of the size of ECG should have a ‘first rate board.’

By: citifmonline.com/Ghana

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