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PRESS RELEASE - 8TH ANNUAL GENERAL MEETING (AGM) OF GRIDCo

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8th ANNUAL GENERAL MEETING (AGM) OF GHANA GRID COMPANY LIMITED
LABADI BEACH HOTEL
The Ghana Grid Company Ltd. organised its 8th AGM on December 8, 2017, at the Labadi Beach Hotel, Accra; to take stock of the year under review and strategise for the way forward.

In attendance were the Deputy Minister of Energy, Mr. Joseph Cudjoe, who represented the Minister of Energy, as well as representatives of the various stakeholders and shareholders.

The Board Chairman, Amb. Kabral Blay-Amihere, applauded the previous Board, Management as well as all Staff for a good year (2016) in terms of profits. He stressed on the quick payment of monies owed to GRIDCo by its customers, citing the build-up in receivables as the major contributing factor to the stalling of projects yet to be embarked on by the Company.

In his report, the Chief Executive Officer of GRIDCo, Ing. Amoako-Baah, indicated that the company’s improved financial performance in 2016, was mainly due to the increase in the power that was transmitted.

Nonetheless, he reiterated the huge impact the debts owed by its customers was making on the company and said, “Management continues to pursue defaulting customers to recover huge outstanding service charge.”

The Deputy Minister of Energy, in his remarks on the GRIDCo 2016 Annual Report, commended the efforts and hard work of members of the Board and Staff of the Company. He was excited about the prospects of the projects GRIDCo had embarked on and were planning on embarking on. He pledged that the Ministry would do everything in its power to help mitigate the Company’s cash flow problems in order to ensure the company performed better in the years to come.

Posted: Sep 28 2016

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