FINANCIAL ENGINEER, Ato Benson has exposed what he considers to be an “empty” argument put forward by the vice president of policy think tank, IMANI Ghana, Kofi Bentil, on the controversial Power Distribution Services (PDS) power concession deal.
Mr. Bentil had written a piece following announcement about the suspension of PDS by Akufo-Addo’s government that “PDS is a motley crew of persons who should have US$500 million in investment over 5 years, but don’t!”
He went on to say “that fact is making them even shy to show their faces, which also is strange because without knowing clearly who they are, we have handed them US$4 billion of national assets and GH¢120 million every week in revenues!!! See what we are?”
According to him, PDS is “a vehicle created by the motley crew described above, to pretend they have the money and expertise needed. Our leaders have also chosen to pretend they do, and thus handed them our assets.”
He added that “now they are pretending to be managing our power, without paying the power producers etc. Seeing the calamity ahead (example: no one knows who their key management and technical officers are, apart from Mr. Ayesu and a certain Lawyer), We have recently pretended to suspend them, when they are really still in place, as we pretend to be finding out things we already know, in an effort to show people that we are indeed working hard when indeed it’s all pretense!”
But Ato Benson believes the argument from Mr. Bentil shows that he lacked knowledge on the PDS transaction.
In direct response to the argument put forward by the IMANI official, Ato Benson, said without mincing words that “it’s obvious some people attain the highest level of education and still remain empty.”
He noted that “for such people, they shroud their emptiness in baseless commentary about every subject and are often motivated by envy and petty cash from their pitiful sponsors.”
Explaining the nature of the PDS transaction and the individuals and organizations involved in it, he said “one does not need to be an FBI agent to know and appreciate the caliber of people and entity that constitutes PDS, especially for a lawyer.”
“Just as an example, one of the partners and his various businesses (Sikkens & Alisa Hotel), spanning building materials and hospitality, have been household names in Ghana for decades. Entrepreneurs need not be experts in particular fields.
He cited Rockefeller who had no knowledge in petroleum but built a petrochemical empire in the United States.
Apart from Kwame Ofosu-Bamfo, who is the sole distributor of Sikkens paints in Ghana through his firm – Bamson Company Limited, which was established in 1983, the local PDS consortium members include TG Energy Solutions Limited (TG), a lead local consortium sponsor, Santa Baron Ventures Limited (Santa), GTS Engineering Services Limited (GTS) and TBK Ghana Limited (TBK) and are backed by foreign technical firm, Meralco, a Filipino power company.