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25.10.2019 Editorial

ECG Shares Best Option

By Daily Guide
ECG Shares Best Option
LISTEN OCT 25, 2019

What next now that the PDS storm is over?  Attention would be expectedly locked on what the next step would be and whether this would be a better option.

Asiedu Nketia, the opposition National Democratic Congress (NDC) scribe, has already mocked at the restricted tendering option as fraught with dirty manoeuvres. He is already making it sound as though that option has been settled on.

We can bet the NDC is praying for government to take that leap so they can package special election year propaganda for the gullible.

We cannot afford not to look before leaping especially as the PDS brouhaha has taught us important lessons in corporate governance. We must count ourselves lucky that we have been able to get rid of what was obviously not in our interest for which the President and his team must be showered with plaudits.

Ghanaians too must be commended for their patience and not giving in to the litany of propaganda spewed by the NDC.

Whatever is decided upon must show signs of serving our overall interest. For us, therefore, considering the asset outlay of the Electricity Company of Ghana (ECG) something in the neighbourhood of $4 billion, we should simply float shares for Ghanaians to buy.

That would not only offer another opportunity for Ghanaians to offload their idle monies it presents for the country a homegrown channel of enhancing the operations of the ECG.

Ghanaians have the financial muscle to invest in the ECG and must be encouraged to so. That is our preference and we think that if the subject is presented to us as a people most, if not all, would side with the proposal.

A company with a financial clout as ECG is worth investing in. The consequences of not to doing so would be regrettable.

Another return to a foreign investor would restore the noisy baggage of suspicions which accompanied the discarded PDS arrangement.

This is an option which would encourage us as a people to imbibe the spirit of buying shares and learning about its workings.

We must have confidence in our local institutions and what better way to do than ECG which for the first time would be floated for public patronage.

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