Here are the Ghanaian businessmen who own 51% shares in the Power Distribution Services

Here are the Ghanaian businessmen who own 51% shares in the Power Distribution Services

On Tuesday (July 30, 2019) the government suspended the concession agreement with Power Distribution Services (PDS), bringing back the Electricity Company of Ghana (ECG) to be in full control of power distribution.
   
   
   
       
       
           
               
                   

On Tuesday (July 30, 2019) the government suspended the concession agreement with Power Distribution Services (PDS), bringing back the Electricity Company of Ghana (ECG) to be in full control of power distribution.

               
           
               
                   

The government explained that the decision followed the “detection of fundamental and material breaches of PDS’ obligation in the provision of Payment Securities (Demand Guarantees) for the transaction which has been discovered upon further due diligence.”

               
           
               
                   

After the news broke, Ghanaians have been speculating on the composition and credibility of the Ghanaian local consortium holding 51% of the shares in the Power Distribution Services (PDS) Ghana Limited.

               
           
               
                   

Some have suggested that a group of barbers at Osu in Accra are the ones behind it.

               
           
               
                   

Who are behind PDS?

               
           
               
                   

According to Graphic Online, the Ghanaian local consortium holding the 51% of the shares in PDS are TG Energy Solutions Limited (TG), a lead local consortium sponsor with 18%, Santa Baron Ventures Limited (Santa), a local technical lead with 13%, GTS Engineering Services Limited (GTS), a local financial lead with 10% and TBK Ghana Limited (TBK), a local financial sponsor also with 10%.

               
           
               
                   

These companies are owned by the people below:

               
           
               
                   

Philip Asare Kwame Ayesu (Chairman)

               
           
               
                   

Kwabena Boateng Aidoo

               
           
               
                   

Kwame Ofosu Bamfo

               
           
               
                   

Mike Twum Barimah

               
           
               
                   

The remaining 49% shares are for two foreign companies, Manila Electric Company Limited (Meralco), a Filipino company with 30% shares and Aenergia, an Angolan company with 19% shares.

               
           
               
                   

The two foreign companies are the Technical Lead for the Consortium and by extension PDS, Graphic Online understands.

Source: Here are the Ghanaian businessmen who own 51% shares in the Power Distribution Services

- gist culled from pulseng