Asantehene Urges Government To Diversify Ownership Structure Of State Companies

• Asantehene Otumfuo Osei Tutu has advised the government to diversify the ownership structures of state companies
• He said to overcome the harsh economic conditions in the country, the government has to attract private investment and participation in state companies to drive growth
• He was speaking at the commissioning of Genser Energy's 430km natural gas pipeline intended to bolster Ghana's power sector

Asantehene Otumfuo Osei Tutu II has urged the government to diversify the ownership structure of certain state companies to drive investment and growth in their respective sectors.

The Ashantis overlord referred to the Volta River Authority (VRA), the Ghana Grid Company (GRIDCo), and the Electricity Company of Ghana.

According to Asantehene, involving the private sector in the ownership structure of these companies would secure essential financial investments into the companies and ease the burden on the public coffers.

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He said this at the commissioning of Genser Energy's 430-kilometre natural gas pipeline, intended to bolster the country’s flailing power sector.

He noted that, considering the country's harsh economic conditions, prioritising public-private partnerships should ease pressure on the government.

The Asantehene said the government must seek to attract more private sector investments in public projects to grow local industries and create more employment.

He added that the involvement of the private sector in such projects would also attract more qualified hands in the management of state companies and infrastructures.

Asantehene lashes out at Ashanti MPs

Asantehene Otumfuo Osei Tutu II lashed out at Ashanti Region Members of Parliament, telling them to work towards developing the region.

Otumfuo Osei Tutu II was speaking at the launch of the 'Heal Komfo Anokye' project.

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The initiative, part of the legacy projects commemorating the 25th anniversary of the king's enstoolment, aims to mobilise $10 million for the comprehensive refurbishment of the 70-year-old medical facility.

During the official launch event, Otumfuo Osei Tutu II expressed deep concern over KATH's deteriorating state, emphasising the hospital's historical significance and role in healing countless individuals.

The king passionately called on every household in the Ashanti Region to commit to the cause by contributing GH¢200 monthly.

His Majesty underscored the community's collective responsibility to restore the hospital's functionality.

Otumfuo builds a conference facility at Manhyia

Earlier, YEN.com.gh reported that Otumfuo Osei Tutu II has built an ultra-modern multi-purpose conference centre at the Manhyia Palace in Kumasi.

The Asantehene commissioned the 2000-seat capacity centre named Otumfuo Osei Tutu II Jubilee Hall on Monday, April 15, 2024.

According to the Otumfuo Foundation, the conference hall has a 2000-seat capacity, offices, a kitchen, 60 (30 male and 30 female) washrooms, and a 400-seat cocktail hall.

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The facility has a parking space that can accommodate 150 cars at a time.

Source: YEN.com.gh