President Akufo-Addo's initiative to renegotiate contracts not in Ghana's interest lauded

The Co- Chair of the Extractive Industries and Transparency Initiative, Dr Steve Manteaw has hailed President Akufo-Addo's announcement of the review of all the power agreements entered into by the previous administration. 

President Akufo-Addo Tuesday in his maiden state of the nation address hinted that he would prioritise, renegotiate, defer or cancel outright, contracts that are not in the nation's interest. 

Dr Manteaw told Radio Ghana that the move must be made tactically in order not to incur extra cost for the nation. 

He added that those who initiated any power purchasing agreement without an exit clause should be made to face the consequences.

On the decision to list the ECG and GRIDCO on the Ghana Stock Exchange, Dr Manteaw said it is long overdue but that it should be based on commercial consideration and not politically motivated.

GBC