President Akufo-Addo has appointed Kofi Tutu Agyare as the Chairman for the newly constituted board of the Volta River Authority.

He is the Managing Partner at Nubuke Investments, an FSA registered asset management and advisory firm focused solely on Africa, which he founded in 2007.

Inaugurating the board, the Energy Minister, Dr Mathew Opoku Prempeh, said the current cost of power does not promote industrialisation and stressed that electricity must be made more affordable.

“We have to work with the regulatory agencies to ensure we generate efficiently, distribute efficiently, and make it affordable for Ghanaians; one of the things we are doing is that for the next four years, we have told Ghanaians that we do not want dumsor and that we are doing Dumsor and is the VRA mandate that we ensure that dumsor is a thing of the past," he added.

The new Board Chairman holds a number of positions, and is currently the Head of European Emerging Markets and a member of the Investment Bank Board.

He is also the co-Chair of the African Acquisition Committee at the Tate Modern Museum in London. He has a degree in Mathematics and Computing from University of Ghana, Legon and a 21-year career with UBS Investment Bank.

Speaking at the ceremony, Mr. Tutu Agyare said some challenges identified need urgent attention.

He assured the board that he will ensure generation of power takes precedent over all other issues.

The new VRA board has the Chief Executive Officer of VRA, Ing. Emmanuel Twum Antwi–Darkwa, Kwame Anyimadu–Antwi, Dr Joyce Rosaline Aryee, Richard Obeng Okrah and Most Rev. Cyril K. Ben Smith, PhD. as members.

The rest are Mr Musa Badimsugru Adam, Solomon Adjetey Sowah and Madam Janet Anane.