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VRA NEWS Second Quarter 2018

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VRA NEWS Second Quarter 2018 NEWS Newsletter Volume 14: April - May - June - 2018 CHIEF EXECUTIVE OUTLINES STRATEGY FOR THE ‘NEW VRA’ he Chief Executive of execution of the six the Volta River (6) strategic themes T Authority, Mr. termed: Emmanuel Antwi-Darkwa has reiterated the ‘BRAISE’ the need for the Authority to undergo acronym for: a rigorous restructuring and •Build, nurture re-orientation exercise. and develop VRA’s This according to him is to ensure Human Capital a rapid turn-around of VRA’s Restore VRA’s fortunes, if it is to remain relevant • and competitive in the emerging Finances energy market. •Advance Internal He made the comment when he and External addressed Staff during the Business Process Authority’s 57th Anniversary; • Improve celebrated on the theme; the Operational & “NEW VRA, Powering the Project future”. Implementation Efficiencies The Strategy is the Sustain VRA’s • Ing. Emmanuel Antwi-Darkwa ‘BRAISE’ Position as a Market Leader According to the Chief, the key •Ensure Development in a IN THIS ISSUE issues to VRA’s recovery: low Sustainable Manner. asset utilization, decline in the Board Chairman Speaks On ‘New VRA’ p 3 Authority’s market share in the Cont. on pg.2 Power Market, competition from KTPS To Run On Gas p 6 IPPs, short-term leadership gap, EDRMS Takes Off Fully p 13 weak financial performance, has informed the formulation and Fire Experts Inspect Kpong p 16 Generating Station VRA Takes Over Management Of Five (5) Mini Grids p 17 VRA NEWS ► CHIEF EXECUTIVE OUTLINES STRATEGY FOR THE ‘NEW VRA’ - cont’dContd. from pg.1 expanding our business portfolio with – Build, nurture and develop and operational processes to ensure B the view to growing sales and VRA’s Human Capital: The we reduce our administrative and profitability: “Meeting the Needs and objective is to ensure Staff in the operational cost and still operate in Expectations of the Energy ‘NEW VRA’ would undertake an efficient and effective manner: Consumer” their activities with a private “Meeting the Needs and Expectation sector mindset. That the Staff of the Customer”. equipped with the required skills E - Ensure Development in a and knowledge, would promote a Sustainable Manner: The idea is to – Improve Operational & Project customer satisfaction and I take advantage and invest in the Implementation Efficiencies: The value-driven natural/renewable energy resources in culture. In Ghana to addition, the remain Leaders strategy is to in the climate Restore Build, Nurture inure to a VRA’s & Develop change agenda, succession Finances VRA’s this is referred plan that B Human Capital to as: would cater for Advance Internal R “Leadership in and External the Climate the gaps Business Change created as a Processes A result of a Agenda” rapidly aging Improve Already work force: Operational & “Strengthen Project Management our Human Implementation I has shown Resource to Efficiencies commitment to Realize our implement Ensure Strategic Sustain VRA’s S various Development initiatives Intent” Position in a as Market E including a Sustainable Leader Manner 3-year R – Restore Financial VRA’s Recovery Finances: The purpose is to Programme (FRP) and provide effective financial rational is to optimize operational Organizational Restructuring by the management across all levels of costs through competitive year 2020. The Executive and the the organization to ensure we procurement of all goods, works and Corporate Strategy Department have strengthen our balance sheet, services; optimizing inventory therefore initiated various staff sustain financial liquidity to levels, implementing “best consultations and townhall meetings guarantee our short to long term practices”, developing bankable to sensitize and bring staff up to speed financial sustainability, and in projects etc., to become: A Model of on the programme. The onus now lies the long run wean off from Excellence for Power Utilities in on us to rise above the occasion and Government of Ghana’s Africa. collectively work towards the financial support: ‘VRA Beyond singular purpose of making the VRA Aid’. the Resilient, Sustainable and Growing Multi-Business Holding S- Sustain VRA’s Position as a Company. A – Advance Internal and Market Leader: The aim is to ensure External Business Process: the ‘NEW VRA’ is able to compete Mainstreaming technology favourably in the emerging energy including IT in all our business market by diversifying and 2 | [email protected] / www.vra.com VRA NEWS ► BOARD CHAIRMAN SPEAKS ON ‘NEW VRA’ As part of the activities marking VRA’s 57th Anniversary, the Board Chairman, Mr. Kweku Awotwi, was done at the time. Unfortunately, bring on board our people, our granted an interview to Israel that was curtailed. expertise and our knowledge. Laryea on a range of issues. According to him, the new Hopefully, they will bring their Below are excerpts from the approach is to build VRA into a capital and best practice, which interview: Resilient, Sustainable and Growing would give us the platform to oard Chairman of the Volta Multi-Business Holding Company, leverage outside the country. River Authority (VRA), Mr. comprising of hydro, thermal and Doing this he said, will offer VRA B Kweku Andoh Awotwi, has non-power subsidiaries. He said, the the capacity to aggressively go out expressed optimism that plans idea is to make VRA a much more beyond our frontiers to secure new to restructure VRA into a profitable company with better businesses, on the back of the West Multi-Business Holding Company running efficiencies across board. African Power Pool, which is slowly has great potential to succeed. He explained that the old ways of connecting all the countries with According to him, though there are doing things will not work and so high voltage transmission lines. no guarantees in life, his certainty is there was the need to make VRA This, ultimately, he said, should confirmed by more efficient, more competitive among others, help address some of the caliber of our real liquidity Board Members challenges. appointed to On the lead the Non-Power organization. He subsidiary, he said, these are stated that, they men and women were in the with in depth process of understanding re-registering of the issues, them, putting in and a good sense new of the Management commercial Boards and environment. He eventually added, the starting the keenness on the process of part of finding partners for them. Government to Mr. Awotwi with Israel Laryea push the agenda as well as the desire Responding to the question on of the Management team who whether Staff of VRA had been actually understand the need for the and more customer phasing”. involved in the drive towards the restructuring gives me a lot of hope. Mr. Awotwi stated that ‘the ‘NEW VRA’, the Board Chairman The Board Chairman made the introduction of Independent Power stated that, the involvement of the remark on “Joy News Prime”, when Producers into the system has Staff is critical at least to the extent he granted an interview to Israel knocked the Authority of its of knowing what was going on. He Laryea,” as part of activities monopoly status although it still explained that the Staff will be fully marking the Authority’s 57th produces about half of the country’s apprised once plans are concretized Anniversary celebration. power.’ In that case, the idea of the enough to be communicated to Speaking on the restructuring of ‘NEW VRA’ is to partner with the them. the organisation into the ‘NEW private sector in a joint venture. “We All things being equal, if we do VRA’, he noted that restructuring will contemplate the idea that they things right; we shall succeed in VRA had actually been long in are the majority partners with about creating a VRA that is financially gestation, adding that several efforts 51% shares; but we would be sustainable, has the capacity to to restructure had been made in the substantial minority partners in compete favourably in the energy past. He stated that during his time running them”, he added.” He was market and has the ability to sustain as Chief Executive, similar efforts emphatic VRA would not be just a its position as the market leader, he were made. A lot of ground work 10/15% passive investor as we will said. [email protected] / www.vra.com | 3 VRA NEWS ► SENIOR KENYA MILITARY OFFICERS VISIT AGS Nathaniel Ekue Mensah, General Services Department/Akosombo military delegations over the years. “It is amazing to paying working visits learn that this Plant was to the AGS. constructed in the 1960s and is He told the delegation still working in a manner that that “As part of VRA’s meets modern trends within the audacious vision to energy sectors across the become a Model of world”. He disclosed that the Excellence for Power team’s visit to Ghana was to Utilities in Africa, it afford them the opportunity to was embarking on an enhance their knowledge of the initiative that would social, political and economic Ing. Kenneth Arthur making a presentation to one of enable VRA show sectors of the country. the military officers. leadership in the climate change Chief Technician Engineer wenty-Nine Senior Military agenda by investing in Renewable (Operating), Mr. Foster Officers from the National Energy. Temeng, conducted the guests T Defense College of Kenya The leader of the Kenyan Military around the generating facility. have paid a familiarization delegation and visit to the Akosombo Generating Deputy Station (AGS). Commandant of Receiving the Kenyan delegation the Kenyan who were accompanied by 9 Defence Staff Ghanaian Military Officers, Plant College, Manager of the AGS, Ing. Kenneth Brigadier Simon Arthur, acknowledged that the M. Wachira, Authority over the years has built a commended very strong mutual relationship VRA for the way with the Ghana Armed Forces the station has resulting in a number of foreign been operated The delegation in a group picture with VRA Officials.
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