LIVESTREAMING: Minority briefs media on PDS concession deal

Government of Ghana in the late hours of Tuesday, July 30 announced the suspension of the contract with Power Distribution Services barely six months after the company took over from the Electricity Company of Ghana.

In a statement signed by Information Minister Kojo Oppong Nkrumah, it disclosed that “the decision follows the detection of fundamental and material breaches of PDS obligation in the provision of Payment Securities (Demand Guarantees) for the transaction which have been discovered upon further diligence. The Demand Guarantees were key prerequisites for the lease of assets on 1st March 2019 to secure the assets that were transferred to the concessionaire.

But the Minority reacting to this has urged government to terminate the contract as they suspect a fraudulent act.

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