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.

Some of the people having shares in the Power Distribution Services

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.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Africa’s richest man Aliko Dangote seeks to raise an additional $1.1 billion to complete his refinery project by 2023

Africa’s richest man Aliko Dangote seeks to raise an additional $1.1 billion to complete his refinery project by 2023

8 African countries where Rihanna plans to launch her luxury Fenty Beauty products

8 African countries where Rihanna plans to launch her luxury Fenty Beauty products

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Haiwezi, my wife is prettier - Omanyala turns down Huddah’s advances

Haiwezi, my wife is prettier - Omanyala turns down Huddah’s advances

Here are the top 10 cities in Africa where the most rich people live

Here are the top 10 cities in Africa where the most rich people live

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

5 African countries with the cheapest gas prices in 2022

5 African countries with the cheapest gas prices in 2022