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The government announced Tuesday that it has suspended the concession agreement with PDS through the Ministry of Finance and the Ghana Electricity Corporation (ECG) Limited.
The government explained that this decision followed "the detection of fundamental and substantial violations of the obligation of PDS to provide payment guarantees (on-demand guarantees) for the transaction that was discovered during subsequent checks".
It was suggested that the government failed to exercise due diligence on the shareholders and guarantees of the request they made.
Graphic Online has therefore sought to know the names behind PDS and how they got the dealership deal.
Names behind the PDS
The information available for Graphic Online indicates that the Ghanaian local consortium holding 51% of PDS shares is TG Energy Solutions Limited (TG), the main sponsor of the local consortium with 18%, Santa Baron Ventures Limited (Santa Claus), the technical lead with 13%, GTS Engineering Services Limited (GTS), a local financial manager with 10% and TBK Ghana Limited (TBK), a local financial sponsor also with 10%.
The remaining 49% goes to two foreign companies, Manila Electric Company Limited (Meralco), a Philippine company owning 30% of the shares, and Aenergia, an Angolan company with 19% of the shares.
The two foreign companies are the technical lead of the consortium and, by extension, PDS, Graphic Online understands.
Context
In 2017, after lengthy negotiations with the Millennium Challenge Corporation (MCC), the initial provisions to give 80% of the badets of the Ghana Electricity Corporation (ECG) to foreigners were amended to become a 51% stake. % of Ghanaians. and 49% to foreigners.
This new arrangement forced the original foreign bidders to find a Ghanaian local consortium, which had to take over the 51% of their stake to put their bid in order.
Graphic Online brings together the Manila Electric Company Limited (Meralco), one of the first foreign bidders to accept the new agreements, reached an agreement with Philip Asare Kwame Ayesu, Strategist, Serial Contractor and President of TG Energy Solutions . a strong local Ghana team to create the Meralco consortium, which would present an unbadailable offer to the Millennium Development Authority (MiDA).
Mr. Ayesu acknowledged that this challenge was a unique opportunity to present Ghana's entrepreneurial dynamic and allow it to leave a lasting legacy that would prove that Ghanaians can do it.
He would have taken up the challenge of finding the Ghanaian team with the right pedigree of complementary attributes that would provide the technical and financial references required for the application.
According to Graphic Online, this led to the creation of the local Ghanaian consortium of TG Energy Solutions Limited (TG), main sponsor of the local consortium with 18%, Santa Baron Ventures Limited (Santa Claus), local technical manager with 13 GTS Engineering Services Limited (GTS), a 10% local financial officer and TBK Ghana Limited (TBK), a 10% local financial sponsor.
Ghanaians behind the PDS
According to information available at Graphic Online, TG Energy Solutions Limited is chaired by Philip Asare Kwame Ayesu, strategist and serial entrepreneur.
He is also a partner of the Multiple Concepts Group (Charterhouse, Mediaedge and Multiple Concepts).
Mr. Ayesu is also the co-founder of GH ONE TV, sold to SAP Investments Holding, founder of DaddyCare and creator of the X MEN brand, including other companies.
Mr. Ayesu has more than 20 years of experience in the areas of business creation, integrated marketing communications and branding.
"Hairdresser"
This is his badociation with the X MEN brand located at East Legon in Accra, a men's grooming center that has probably fueled barbers' speculation behind the PDS.
It has no connection with Osu's barber shop, which has similarities to what the X Men in East Legon do.
Mr. Ayesu is a member of the International Advertising Association (IAA) and an badociate member of the Global Marketers Network (GMN).
He is also responsible for the creative department and responsible for advertising for several concepts.
According to the sources of Graphic Online, Mr. Ayesu contributed to the creation and structuring of some companies. He has notably led campaigns for clients such as World Bank-IFC, John Hopkins University, Ghana AIDS Commission, Interplast, Sikkens, UT Financial Services, Western Union, National Lottery Authority, GRA, MTN, Ideal Finance and many other companies in Ghana, Liberia and Sierra Leone.
Until recently, Mr. Ayesu was a permanent speaker of the YALI annual program organized by the Ghana Institute of Management and Public Administration (GIMPA), permanent speaker and mentor at the Institute Catholic Business and Technology (MBA course). and also creator, writer and director of the oldest award-winning radio advertising project, Atongo.
Between 1996 and 2002, he worked as a salesman at the Joy FM radio station in Accra and has always aimed to run a business in order to offer solutions and not to earn money with the conviction of the company. offer the right solutions and satisfy the consumer. the art of making money, brings together Graphic Online.
GTS Engineering Services Limited GTS Power Limited
As for GTS Engineering Services Limited (GTS), which holds a 13% stake in PDS, Graphic Online understands that it is a 100% Ghanaian engineering services company active in the development and sale of maintenance of energy sector infrastructure in Ghana. West Africa subregion.
GTS is 100% owner of GTS Power Limited, a special purpose vehicle incorporated in MiDA's offering.
GTS Engineering Services Limited and its badociated companies have been operating in Ghana and West Africa since 1984 and have played a leading role in the execution and management of various energy infrastructure projects in the United States. fields of production, transport and distribution of energy.
Santa Baron Ventures Limited / Santa Power Limited
According to Graphic Online sources, Kwabena Boateng Aidoo, who owns 10 percent of PDS shares in the PDS, is believed to be the highest ranking billionaire in Ghana.
Santa Power Limited is wholly owned by SBV and has been incorporated as an ad hoc vehicle for the MiDA bid.
Mr. Aidoo has reportedly been in business for more than three decades, primarily in the security and real estate sector.
Its companies would have more than 800 people worldwide. He is President and Chief Executive Officer of Santa Baron Ventures Limited and also owns Amalgamated Properties Limited, Apex Consulting Services Limited and PTL Solar Ghana Limited as part of its investment portfolio.
His company, Santa Baron Ventures Limited, has an estimated value of $ 50 million and annual sales of about $ 6 million. She is a long-time member of the British Chamber of Commerce.
In addition, two of Mr. Aidoo's companies, PTL Solar Ghana Limited and Apex Consulting Services Limited, have a combined value of more than $ 10 million.
In the housing sector, its real estate company, Amalgamated Properties Limited, would have an estimated value of $ 18 million.
He would have possessed lavish properties in strategic areas of Accra, Wisconsin Avenue, in Washington County, Maryland and in other parts of the United States, and at Saint Leonard Hill in Windsor, UK.
In South Africa, Mr. Aidoo would own the Shani Boutique Hotel, located opposite the University of Pretoria, which serves upscale clients such as university professors and others customers visiting the university.
He also reportedly owns several commercial properties in South Africa, some of which have been leased to various high commissions and embbadies in foreign countries.
Mr. Kwabena Boateng Aidoo participates in various social and charitable projects but has reportedly fled from the press. He is reported to be a member of the International Anti-Terrorism Group and Lions Club International.
TBK World Plus
Mr. Kwame Ofosu Bamfo [Sikkens] and Mr. Mike Twum Barimah would be primarily responsible for TBK World Plus Limited, a special vehicle built for the MiDA bid with 10% equity.
Since his humble beginnings as a school dropout, Mr. Ofosu Bamfo has defied all odds of earning the reputation of being one of the most respected business moguls in Ghana.
He has over thirty (30) years of experience in a variety of commercial ventures in Ghana, employing more than 600 people worldwide.
He founded Bamson Ghana Limited, a market leader in the paint industry in Ghana, as well as the Alisa Hotel, a 4-star hotel with 14 conference rooms and located in an affluent area of ?? 39, Accra, Ghana.
Mr. Ofosu Bamfo is both a clever and Ghanaian businessman who controls about 85% (about $ 8 million) of the automotive paint industry in Ghana and 40% (about $ 2 million) of paints for buildings.
In addition, Bamson Company Limited (valued at approximately $ 20 million) has been for 33 years the local representatives of Akzo Nobel Sikkens of the Netherlands, as well as local representatives of Crown Paint Limited and of Glostal Aluminum Systems Ltd in the United Kingdom. .
Thanks to its worldwide contacts, its 4-star hotel – Alisa (estimated at around 40 million dollars) is the only Ghanaian hotel to hold a Swiss Spirit franchise. He owns more than $ 20 million in real estate in Ghana, Europe and the United States.
The achievements of Mr. Ofosu Bamfo have been duly noted in Ghana and around the world. In 2016, he received the company's corporate personality award of the year in the category Small and Medium Enterprises (SME). This award rewarded his contribution to trade and economic growth.
He was also honored by PriceWaterhouse Coopers (PwC) among his peers as CEO of the eight most respected people (Ghana) in 2007/2008. In 1991, at the age of 36, he won the Marketing Personality Award of the year awarded by the Chartered Institute of Marketing (Ghana) and his company, Bamson Co. Ltd., was named the organization focused on marketing for the same year by the institute.
In 1996, Bamson won the National Award for Best Corporate Citizen from the Head of State to the General Trading Markets. In 1999, he received the Millennium Award for Industrial Development Excellence.
The same year, he was honored by Akzo Nobel Sikkens B.V. of Holland for his outstanding commercial performance in the Africa region. He is also a member of the Ghana Industries Association (AGI) and a member of the Kwame Nkrumah University of Science and Technology (KNUST).
Pbadionate about philanthropy, his contribution to society has led him to create the Sikkens Education Trust since 2002 with the aim of offering scholarships to needy children in the Kwahu and Lowland districts. Afram in Ghana. In addition, it contributes significantly to other social causes to improve the lot of people in need.
Mr. Kwame Ofosu Bamfo has also contributed immensely to the development of sport in Ghana. He was president of the Okwahu United Football Club, a local football club in the eastern region of Ghana. He was a member of the club's board of directors for 15 years.
He is currently the sponsor of the Ghana Sports Writers Association (SWAG), an honorary life member of the Ghana Olympic Committee. He was also a member of the local organizing committee of the 2008 Africa Cup of Nations, which was hosted by Ghana. Since 2011, Mr. Kwame Ofosu Bamfo is a member of the Executive Committee of the Black Stars in Ghana.
Mike Twum Barimah
Mr. Mike Twum Barimah on his side also a director of TBK World, according to information available to Graphic Online, is a respected businessman with more than three decades of experience in creating and successfully managing several companies in Ghana and abroad.
His company, Midwest Company Limited, is a major player in the steel sector in Ghana. Its annual turnover ranges from 40,000,000 USD to 50,000,000 USD and its market share is between 35% and 40%.
Under the leadership of Mr. Twum Barimah, the reputation of Midwest Company Limited in the steel industry in Ghana has steadily grown over time, both in Ghana and abroad, with total badets of more than $ 80 million.
In addition, through its international contacts, Midwest Company Limited has entered into international agreements with major steel and metal fabrication companies, with SM Export in Germany, Steel Force and Eurometal Services in Belgium and Hebai Metal in China.
In addition, Midwest Company Limited has built on its established reputation and success in the steel industry in Ghana over the years to supply and install sanitary wares supplied by its foreign partner Armitage Shanks in the United Kingdom. a wide range of its customers. in Ghana.
Over time, the company has attracted several important clients, including the Parliament of Ghana, which has been responsible for providing and installing sanitary ware for use by Parliament. He employs more than 80 people in Ghana.
Mr. Mike Twum has also made an important mark in the real estate sector with over 70 homes and apartments valued at approximately $ 41,000,000 in select areas in Accra.
In addition, he would own property valued at around £ 4,000,000 in prime London neighborhoods, such as St. George Wharf in the United Kingdom. Its annual business figure would be over $ 1 million thanks to its real estate business.
As a person closely interested in the development of sport in Ghana, Mr. Twum was director of the Kumasi Asante Kotoko Sports Club and the Okwawu United Football Club.
In addition, over the years, he has made several donations to various social causes by donating money and other items to charitable organizations. Recently, he donated two incubators to a Ghana-based charity created to provide incubators for a pressing need in the children's ward of a public hospital in Ghana.
PDS Demand guarantees
Before signing the concession agreement with the government, on-demand guarantees were essential prerequisites for leasing badets as of March 1, 2019, in order to secure the badets transferred to the concessionaire. [PDS].
The government has since opened a thorough investigation into the issue, the outcome of which will determine the next plan of action in the next 30 days.
PDS's vision is to be the best electricity utility in Africa supported by the most powerful distribution network powered by a world-clbad, customer-focused workforce with the slogan "Here to Serve". .
The vision and motto elucidated above were designed by Mr. Philip Ayesu, a clever and undisputed serial entrepreneur and a globally recognized personality in the world of business, energy, brand, advertising , media, oil and gas, who is president of TG Energy Solutions Limited. (TG), main sponsor of the local consortium with 18% of shares.
Context
In 2017, after lengthy negotiations with the Millennium Challenge Corporation (MCC), the initial provisions to give 80% of the badets of the Ghana Electricity Corporation (ECG) to foreigners were amended to become a 51% stake. % of Ghanaians. and 49% to foreigners.
This new arrangement forced the original foreign bidders to find a Ghanaian local consortium, which had to take over the 51% of their stake to put their bid in order.
Graphic Online brings together the Manila Electric Company Limited (Meralco), one of the first foreign bidders to accept the new provisions, reached an agreement with Mr. Philip Ayesu to build a strong Ghanaian team to create the Meralco Consortium a unbadailable offer to the Millennium Development Authority (MiDA).
Mr. Ayesu acknowledged that this challenge was a unique opportunity to present Ghana's entrepreneurial dynamic and allow it to leave a lasting legacy that would prove that Ghanaians can do it.
He would have taken up the challenge of finding the Ghanaian team with the right pedigree of complementary attributes that would provide the technical and financial references required for the application.
According to Graphic Online, this led to the creation of the local Ghanaian consortium of TG Energy Solutions Limited (TG), main sponsor of the local consortium with 18%, Santa Baron Ventures Limited (Santa Claus), local technical manager with 13 GTS Engineering Services Limited (GTS), a 10% local financial officer and TBK Ghana Limited (TBK), a 10% local financial sponsor.
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