The Institute for Energy Security (IES) has backed calls by the Asantehene, Otumfuo Osei Tutu II for the government to diversify the Electricity Company of Ghana (ECG), Volta River Authority (VRA), and the Ghana Grid Company (GRIDCo).

According to the Executive Director, Nana Amoasi VII, the Asantehene’s call is in the right direction and long overdue.

“The eminent king didn’t ask that we bring in foreign investors so this means the privatisation can bring together local people with expertise and can invest to boost the institutions. Also, they should not just invest and sit to wait for profit from ECG but be involved in all operations,” he said.

• Read also: Allow private sector participation in ECG, GRIDCo to make them viable – Otumfuo to government

The Asantehene on Wednesday highlighted the need for the privatisation of the power distribution companies to ensure essential financial investments.

He made these remarks during the commissioning of a 430-kilometre natural gas pipeline by Genser Energy, aimed at bolstering the nation’s power sector.

• Read also: Here’s why Dr. Steve Manteaw supports Otumfuo’s call for ECG, GRIDCo divestiture

In an interview on Adom FM’s morning show, Dwaso Nsem on Monday, Nana Amoasi VII stated that the government should see Asantehene’s call as an opportunity for extensive dialogue.

“We must be clear and careful on what we want to do thus whether it will be full privatisation or a PPA so we don’t repeat the PDS situation. So Otumfuo’s call has opened the gateway for extensive conversation,” he added.