ELECTRICITY COMPANY OF GHANA - World Bank · 2019. 8. 29. · ELECTRICITY COMPANY OF GHANA UMITED GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT FINANCED BY: IDA CREDIT NOS. 4356-GH,

E E I I I I I I I I I I I I I I I I E

ELECTRICITY COMPANY OF GHANA

GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT

FINANCED BY:

INTERNATIONAL DEVELOPMENT ASSOCIATION (IDA) CREDIT NOS: 4356-GH, 47300-GH AND 56290-GH; AFRICA CATALYTIC

GROWTH FUND (ACGF) GRANT NO. TF 090450; AFRICAN DEVELOPMENT FUND (ADF) LOANS NOS. 2100150015548 AND

2100150030894 AND ELECTRICITY COMPANY OF GHANA UMITED'S COUNTERPART FUND

PROJECT FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2018

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' I I I E I I I I I E

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ELECTRICITY COMPANY OF GHANA UMITED

GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT FINANCED BY: IDA CREDIT NOS. 4356-GH , 4730-GH AND 56290-GH; ACGF GRANT NO. TF 090450; ADF LOAN NOS. 2100150015548 AND 2100150030894 AND ECG CONTRIBUTIONS

contents

Transmittal Letter

Independent Auditor's Report

Statement of Financing and Expenditures

Statement of Financial Position

Notes to the Financial Statements

Statement of Approved Allocation of Credit Facilities

Summary of Movements in IDA Credit Facilities

Summary of Movements in ADF Loan Facilities

Details of IDA Credit Expenditures

Details of ADF Loan Expenditures

Details of Electricity Company of Ghana (ECG) Limited's Contributin

IDA Special Account Financial Statements

ADF Special Account Financial Statements

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S€AC State Enterprises Audit Corporation 4th Floor, Republic House, Kwame Nkrumah Avenue, P. o. Box M198, Accra, Ghana. Tel: 233 302 680157, Fax: 233 302 680156, E-Mail: [email protected]

Our Ref. No. SAC.3/90/VOL.3/16

INTERNATIONAL DEVELOPMENT ASSOCIATION

1818 STREET, NW.

WASHINGTONG, D.C. 25433 U.S.A.

Dear Sir,

ELECTRICITY COMPANY OF GHANA LIMITED

GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT FINANCED BY:

INTERNATIONAL DEVELOPMENT ASSOCIATION (IDA) CREDIT NOS. 4356-GH, 47300-GH AND 56290-GH

23rd May 2019

(i)

(ii) (iii) (iv)

AFRICA CATALYTIC GROWTH FUND (ACGF) GRANT NO. TF 090450; AFRICAN DEVELOPMENT FUND (ADF); AND ELECTRICITY COMPANY OF GHANA LIMITED COUNTERPART FUND

I AUDIT OF PROJECT FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2018

I • Ii

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At the request of the Director of Finance, Electricity Company of Ghana Limited, we

have carried out the audit of Electricity Company of Ghana Limited's portion of the

above credit lines and grants for the year ended 31st December 2018.

We did not observe any significant weaknesses in the internal controls and as such

we have not issued a management letter.

/

We have the pleasure of submitting our report on the assignment for your information.

Yours faithfully, STATE ENTERPRISES AUDIT CORPORATION

F.B. SENAHIA ACTING MANAGING DIRECTOR

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S€AC State Enterprises Audit Corporation 4 .. Floor, Republic House, Kwame Nkrumah Avenue, P. o. Box M198, Accra, Ghana. Tel: 233 302 680157, Fax: 233 302 680156, E-Mall: [email protected]

INDEPENDENT AUDITORS' REPORT TO THE INTERNATIONAL DEVELOPMENT ASSOCIATION (IDA) IN CONNECTION WITH THE AUDIT OF THE DISBURSEMENTS OF ELECTRICITY COMPANY OF GHANA LIMITED'S PORTION OF IDA CR. NOS. 4356-GH, 47300-GH AND 56290-GH; AFRICAN CATALYTIC GROWTH FUND (ACGF) GRANT NO. TF090450 AND AFRICAN DEVELOPMENT FUND (ADF)LOAN NOS. 2100150015548 AND 2100150030894 AND ECG CONTRIBUTIONS

We have audited the attached Project Financial Statements of Electricity Company of Ghana Limited's portion of IDA Credit Nos. 4356-GH, 47300-GH and 56290-GH; ACGF Grant No. TF090450 and ADF Loan Nos. 2100150015548 and 2100150030894 and ECG Contributions for the year ended 31st December 2018 on pages 3 to 11 and the Special Account Statements on pages 12 to 13. The project financial statements have been prepared under the historical cost convention and on the basis of the accounting policies set out on page 5 of this report.

Respective responsibilities of the Management of Electricity Company of Ghana Limited and the Auditors. The Management of Electricity Company of Ghana Limited is responsible for the preparation of the project financial statements. It is our responsibility as auditors to form an independent opinion, based on our audit of the statements and report to you.

Basis of Opinion We conducted our audit in accordance with International Standards on Auditing. An audit includes examination on a test basis, of evidence relevant to the accounts and disclosures in the financial statements. It also includes assessment of the significant estimates and judgements made by management in the preparation of the project financial statements, and of whether the accounting policies used are appropriate to the Company's circumstances, consistently applied and adequately disclosed.

We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give us reasonable assurance that the financial statements are free from material misstatements whether caused by fraud or other irregularity or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the financial statements.

Opinion In our opinion, the project financial statements audited by us are in agreement with the underlying acounting records in all material respects, conform with International Accounting Standards and give a true and fair view of the financial postion of the Ghana Energy Development and Access Project as at 31st December 2018, the statement of Financing and Expenditures and the statement of movements on the Special Accounts for the year then ended.

Additionally, in our opinion funds provided for the project have been utilised in accordance with the Ghana Energy Development Credit Agreement with due attention to economy and efficiency, and only for the purposes for which they were provided.

STATE ENTERPRISES AUDIT CORPORATION

~ F.B. Senahia ACTING MANAGING DIRECTOR ICAG/P/1394

4TH FLOOR REPUBLIC HOUSE KWAME NKRUMAH AVENUE ACCRA

' DATE: n ? ~')lj a." 0 , J CL • ~b FY"7l ~1.--'1

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~r.-. ......................... - ...... .. ELECTRICITY COMPANY OF GHANA UMITED GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT FINANCED BY: IDA CREDIT NOS. 4356-GH, 4730-GH AND 56290-GH; ACGF GRANT NO. TF 090450; ADF LOAN NOS. 2100150015548 AND 2100150030894 AND ECG CONTRIBUTIONS

Statement of Financing and Expenditures for the year ended 31st December 2018

AFDB Loan ECG'S 2018 No. CONTRIBUTION Totals

2100150030894

$ $ $

Financing

Disbursements in the year:

Loan drawdowns 5,360,756 - 5,360,756

ECG's contribution - 1L997L745 1L997L745

5L360L756 1L997L745 7L358L501

Expenditures

1 CATEGORY 1 Works and Goods - 1,997,745 1,997,745

2 AFDB CATEGORY 1 Works and Goods 5L360L756 - Sl360l756

s,3&0,1s& 1,997,745 7,358,501

3

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FINANCED BY: IDA CREDIT NOS. 4356-GH, 4730-GH AND 56290-GH; ACGF GRANT NO. TF 090450;

ADF LOAN NOS. 2100150015548 AND 2100150030894 AND ECG CONTRIBUTIONS

Statement of Financial Position as at 31st December, 2018

NOTES

ASSETS

Non-Current Assets

Accumulated Project Cost 2(a)

2018

$

205,092,706

2017

$

196,958,740

£ Current Assets

' .. I I I I I I I I I I E I •

Advance to Sub-DA Account of Ministry of Energy

Bank Balance - DA to IDA Credit No. 47300

- DA to IDA Credit No. 56290

Total Assets

FINANCED BY:

IDA Credit No. 4356 - GH

IDA Credit No. 47300 - GH

Ministry of Energy IDA Grant

ACGF Grant No. TF090450

ADF Loan No. 2100150015548

ADF Loan No. 2100150030894

ECG's Contributions

Interest Earned

DA to IDA Credit No. 56290

Total

ECG DIRECTOR OF FINANCE

4

2(b)

2(b)

2{b)

393,086

5,077

2,701,083

208,191,953

64,991,428 65,106,167

4,335,046 18,191,691 20,106,853 14,383,041 16,841,261

366,831 3,869,635

208,191,953

200,000

5,077

3,670,490

200,834,307

64,991,428

65,106,167

4,335,046

18,191,691

20,106,853

9,022,285

14,843,516

366,831

3,870,490

200,834,307

ECG MANAGING DIRECTOR

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FINANCED BY: IDA CREDIT NOS. 4356-GH, 4730-GH AND 56290-GH;ACGF GRANT NO. TF 090450;


Notes to the Flnandal Statements for the year ended 31st December, 2018

1 ACCOUNTING POLICIES

(a) Presentation of financial statements The project statement of financial position have been prepared In the United States Dollars

(b) Accounting Concept and Convention The project statement of financial position and the supporting statements have been

prepared under historical cost and are In accordance with applicable accounting standard

No provision for depreciation has been made In the project financial statements In respect of

non-current assets. However any diminution in the value of non-current assets will be

recognised and amortised at the point of commissioning, capitalization and transfer of asset.

(C) Foreign Currency Transaction Transactions denominated in currencies other than the United States Dollars are converted

into United States Dollars and recorded at the exchange rate ruling at the value date of the

transactions. Balances at the balance sheet date dominated in currencies other than

United Stetes Dollars are converted into United States Dollars at the exchange rate ruling

at that date

2 ASSETS

(a) Non-current Assets

Accumulated Project Cost consists of the following:

2018 2017

$ $ Land and Building 4,311,390 4,311,390 Distribution Assets 194,629,900 187,271,399 Motor Vehicles 1,891,746 1,200,839 Computers and Accessories 448,918 364,360 Training and Consultancy 3,810,752 3,810,752 Total 205,092,706 196,958,740

(b) Current Assets

IDA Designated Account - Ecobank 5,077 5,077 IDA Designated Account - Merchant Bank 2,701,083 3,670,490

Advance to Sub-DA - Ministry of Energy 393,086 200,000

Total 3,099,247 3,875,567

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FINANCED BY: IDA CREDIT NOS. 4356-GH, 4730-GH AND 56290-GH; ACGF GRANT NO. TF 090450;


Statement of approved allocation of Credit Fadlltles

as at 31st December, 2018

SDR

1.0 IDA Credit No. 4356-GH 38,190,000

1.1 Broard Allocation of Credit Facility

(i) l{a) Works and Goods - Components Bl{a) and B2{a) 23,230,000

(ii) 2(b) Goods and Consultant's Services 1,120,000

(iii) 4{b) Training under B2(a) 750,000

(iv) l{b) Works under Cl(a) 11,800,000 (v) 3{b & c) Consultant's Services 1,290,000

38,190,000

SDR 2.0 IDA Credit No. 4730-GH 46,200,000


(i) Works and Goods l{a) 45,400,000

(ii) Goods and Consultants 2(b) 500,000 (iii) Training 4(b) 300,000

46,200,000

SDR 3.0 IDA Credit No. 56290-GH 42,700,000


(i) 1. Goods, Non Cons Svcs, Cons Svcs 40,821,200

(ii) 3. CS, Gds, OC for Proj Mgmt 455,500 (iii) 8. Re-financing PPF for Sankofa Project (Pl 152670) 1,423,300

42,700,000

UAC

4.0 ADF Loan No. 2100150015548 12,190,000

UAC

5.0 ADF Loan No. 2100150030894 28,600,000

USD

6.0 ACGF Grant No. TF 090450 15,000,000

6

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GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT FINANCED BY: IDA CREDIT NOS. 4356-GH AND 47300-GH; ACGF GRANT NO. TF 090450;ADF LOAN NOS. 2100150015548 AND 2100150030894 AND ECG CONTRIBUTIONS

Summary of Movement in IDA Credit No. 4730-GH

for the year ended 31st December, 2018

Description of Expenditure Cat.

Works and Goods, Part D

Consultant Services, Part D

Training, Part D

DA-02 Designated Account

l(a)

2(b)

4(b)

Approved

Allocation

SOR

45,400,000

500,000

300,000

46,200,000

Disbursements Disbursements

As At 01/01/2018 In the year 2018

SOR $ SOR $

46,088,296 65,036,117 -

10,007 14,121

99,971 141,070

(60,336) (85,141)

46,137,938 65,106,167 - -

7

.. .. .. .. IM4!1 .. r.l

Undisbursed

Cummulative Disbursements Balance

At 31/12/2018 At 31/12/2018

SOR $ SOR

46,088,296 65,036,117 (688,296)

10,007 14,121 489,993

99,971 141,070 200,029

(60,336) (85,141) 60,336

46,137,938 65,106,167 62,062

·--------- .......... - ........ iHANA ENERGY DEVELOPMENT AND ACCESS PROJECT INANCED BY: IDA CREDIT NOS. 4356-GH, 56290-GH AND 4730-GH; ACGF ,RANT NO. TF 090450;ADF LOAN NOS. 2100150015548 AND 2100150030894 AND CG CONTRIBUTIONS

ummary of Movement in IDA Credit No. 56290-GH

>r the year ended 31st December, 2018

1escription of Expenditure Cat. Approved

Allocation

SOR

,oods, Non Cons Svcs, Cons Svcs 1 40,821,200

S, Gds, OC for Proj Mgmt 3 455,500

.e-financing PPF for Sankofa Proj 8 1,423,300

)A56290-GH DA-A -

42,700,000

Disbursements Disbursements

As At 01/01/2018 In the year 2018

SDR $ SOR $

- - - -

176,271 246,260

1,425,176 1,991,042

2,753,100 3,846,218

- - 4,354,546 6,083,519

Disbursement behind schedule as Loan will expire in September, 2019

8

Undisbursed Cummulatlve Disbursements Balance

At 31/12/2018 At 31/12/2018

SOR $ SOR

- - 40,821,200

-176,271 246,260 279,229

1,425,176 1,991,042 (1,876)

2,753,100 3,846,218 (2,753,100)

4,354,546 6,083,519 38,345,454

I I ';' ' .,.,,. •·• I ,,. l':1'!9 .,. a:;• •~ 19 I

:ICITY COMPANY OF GHANA LIMITED ENERGY DEVELOPMENT AND ACCESS PROJECT :ED BY: IDA CREDIT NOS. 4356-GH, 5629-GH AND 4730-GH; ACGF NO. TF 090450;ADF LOAN NOS. 2100150015548 AND 2100150030894 AND NTRIBUTIONS

ry of Movements in ADF Loan No. 10030894 for the year ended 31st December, 2018

Cummulative :ion Disbursement Disbursement Disbursement

Approved AsAt in the As At ture category Allocation 01/1/2018 Year 2018 31/12/2018

UAC UAC $ UAC $ UAC

001 15,180,000 6,494,285 9,022,285 3,334,875 4,747,891 9,829,160

002 12,510,000 - - 429,800 &12,866 429,800

003 910,000 - - - - -

28,600,000 6,494,285 9,022,285 3,764,675 5,360,756 10,258,960

9

$

13,770,176

612,866

-

14,383,041

I •,-.· W 0 .\?llf

Undlsbursecl Balance As At 31/12/2018

UAC

5,350,840

12,080,200

910,000

18,341,040

••• I ·"•• ~~~;,:;,,. ·~ ,., .•

I .,,.

St• .'if. .. .. •• .. .. - .. .. :ITV COMPANY OF GHANA LIMITED

:NERGY DEVELOPMENT AND ACCESS PROJECT

D BY: IDA CREDIT NOS. 4356-GH, 4730-GH AND 56290; ACGF

10. TF 090450;ADF LOAN NOS. 2100150015548 AND 2100150030894 AND

,TRIBUTIONS

f ADF Loan No. Cr. No. 2100150030894 Expenditure for the year ended 31st December 2018

, 1 (a): Works and Goods

te

.8

.8

l8

l8

LS

LS

LS

LS

18

18

18

18

18

18

18

18

Beneficiary

Jiangsu Zhongchao Holding Jiangsu Zhongchao Holding

Jiangsu Zhongchao Holding

Jiangsu Zhongchao Holding

Sub Total

Best & Crompton Engineering Best & Crompton Engineering Best & Crompton Engineering Best & Crompton Engineering

Sub Total

T & D Power Solutions







T & D Power Solutions Sub Total

Grand Total

Project Description

Supply of conductors, cables and accessories Lot 1 Supply of conductors, cables and accessories Lot 1

Supply of conductors, cables and accessories Lot 1

Supply of conductors, cables and accessories Lot 1

Supply of distribution transformers and switches Supply of distribution transformers and switches Supply of distribution transformers and switches Supply of distribution transformers and switches

Supply & Installation of a switching station & Interconnecting circuit at Asankragua Supply & Installation of a bulk supply point & Interconnecting circuita at Juabeso Supply & Installation of a switching station & Interconnecting circuit at Asankragua Supply & Installation of a bulk supply point &

Interconnecting clrculta at Juabeso Supply & Installation of a bulk supply point & Interconnecting circulta at Juabeso Supply & Installation of a bulk supply point & interconnecting clrcuita at Juabeso Supply & Installation of a switching station & Interconnecting circuit at Asankragua Supply & Installation of a switching station & Interconnecting circuit at Asankragua

10

Reference

RG N0053703 RG N0053704

RG N0053705

DPN00020

DPNOOOOS DPN00017A DPN00021 DPN00021

DPN00013

DPN00016

DP N00014

DPN00015

DPN00018

DP N00023

DPN00024

DPN00025

.. r• .. .. .. .. .. ra

Amount Amount $ UAC

1,232,116 862,953 684,509 479,418

838,523 575,225

558,302 395,623

3,313,450 2,313,219

169,980 118,622 112,685 79,346

1,023,800 731,025 127,975 92,662

1,434,440 1,021,656

83,037 57,170

184,963 127,345

43,308 29,835

77,366 53,298

35,380 25,440

71,958 52,102

68,802 49,817

48,053 34,793 612,866 429,800

5,360,756 ~[764,675

I .,. f,i. I''• .till F:,• • • ,dll ,"J•u •• •

','!i."11111\ \'~ •1• ...... 1'''9 1'9 .... .,. r•

:ITV COMPANY OF GHANA LIMITED :NERGY DEVELOPMENT AND ACCESS PROJECT D BY: IDA CREDIT NOS. 4356-GH, 4730-GH AND 56290; ACGF 10. TF 090450;ADF LOAN NOS. 2100150015548 AND 2100150030894 AND ITRIBUTIONS

OF ELECTRICITY COMPANY OF GHANA LIMITED's CONTRIBUTION '.\ Cr. No. 47300 for the year ended 31st December 2018

'1 (a): Works and Goods Value Date Installation

27/02/2018 Disbursement to Shenzhen Farad Electric Co. Ltd for supply and Installation of 33kv and llkv feeders to connect substations in Ashanti Region (GHC 112,911.20)

19/03/2018 Disbursement to Siemens Limited for construction of one (1) primary substation and upgrade of two(2) existing substations In Ashanti Region (GHC 2,057,701.88)

23/05/2018 Disbursement to Shenzhen Farad Electric Co. Ltd for supply and Installation of 33kv and llkv feeders to connect substations in Ashanti Region (GHC 380,480.08)

31/05/2018 Disbursement to Shenzhen Farad Electric Co. Ltd for supply and installation of 33kv and llkv feeders to connect substations in Ashanti Region (GHC 58,356.00)

31/05/2018 Disbursement to Shenzhen Farad Electric Co. Ltd for supply and installation of 33kv and llkv feeders to connect substations in Ashanti Region




Sub-total

.DF Loan No. 2100150030894 for the year ended 31st December 2018

Value Date Installation

30/01/2018 Jewalk Company Limited - Low voltage network improvement works in Ashanti Region Danyame Lot 22 (GHC 57,065.03)

15/02/2018 Royal Sentry - Low voltage network improvement works In Ashanti Region Abuakwa Lot 5 (GHC 57,508.27)

15/02/2018 Archives Limited - Low voltage network improvement works in Ashanti Region Kwabre Lot 3 (GHC 46,916.01)

15/02/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 3 (GHC 61,327.65)

11

Reference Amount in F/C $

GEDAP AF A3/10 LOTl 25,543

GEDAPAF A2/10 465,723







651,059

Reference Amount in F/C $

137,474 12,893

33,385 13,010

33,391 10,614

33,386 13,874

r,,1

I I l'i"• l'l8 e,• Sat S,8 •g• a• .. - .. •• •• 1''19 a. .. ft8 FW Fe 15/02/2018 Darex Construction & Electrical Ltd - Low voltage network Improvement works In Ashanti Region

Suame Lot 8 (GHC 110,293.10) 01/03/2018 Ans Construction Services - Low voltage network Improvement works in Ashanti Region

Suame Lot 9 (GHC 56,315.16) 08/03/2018 Electrical Solutions Limited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 2 (GHC 22,027.95) 08/03/2018 Glory Lord Ghana Limited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 16 (GHC 17,670.50) 09/03/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region

Abuakwa Lot 4 (GHC 77,994.59) 09/03/2018 Sbinc Solution Limited - Low voltage network improvement works in Ashanti Region

Abuakwa Lot 8 (GHC 99,961.68) 09/03/2018 SB Dynamics Services - Low voltage network improvement works In Ashanti Region

Abuakwa Lot 6 (GHC 109,119.40) 09/03/2018 Boyka Engineering Limited - Low voltage network Improvement works in Ashanti Region

Kwabre Lot 4 (GHC 107,073.34) 12/03/2018 Stone Electrical Works Limited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 23 (GHC 86,066.67) 12/03/2018 Naflin Consult Limited - Low voltage network improvement works in Ashanti Region

Suame Lot 6 (GHC 139,673.67) 12/03/2018 Electro Power Engineering Limited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 18 (GHC 38,288.38) 12/03/2018 Renowned Electrical Contractors Ltd - Low voltage network Improvement works in Ashanti Region

Ayigya Lot 1 (GHC 75,968.42) 12/03/2018 Fordkof Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region

Manhyia Lot 2 (GHC 58,274.21) 12/03/2018 Glatricks Engineering Limited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 14 (GHC 36,419.46) 12/03/2018 Unto Abraham Company Limited - Low voltage network Improvement works In Ashanti Region

Manhyia Lot 1 (GHC 57,285.48) 12/03/2018 Ghameric Enterprise - Low voltage network improvement works in Ashanti Region

Suame Lot 10 (GHC 94,535.44) 13/03/2018 Foreen Electrical Eng. Ltd - Low voltage network Improvement works in Ashanti Region

Abuakwa Lot 1 (GHC 116,530.89) 13/03/2018 V. V. S. Limited - Low voltage network improvement works In Ashanti Region

Ayigya Lot 3 (GHC 67,173.59) 13/03/2018 Modes Power Services - Low voltage network improvement works in Ashanti Region

Abuakwa Lot 2 (GHC 106,310.11)

12

33,394

33,506

33,499

33,498

33,515

33,548

33,513

33,547

33,512

33,516

33,510

33,517

33,545

33,508

33,511

33,519

33,520

33,518

33,507

24,951

12,738

4,982

3,997

17,643

22,612

24,683

24,220

19,469

31,595

8,661

17,184

13,182

8,238

12,958

21,384

26,363

15,197

24,050

I l"I'91"••·-·- .. -----~----aqr.r, 13/03/2018 Sapato Company Umited - Low voltage network Improvement works in Ashanti Region

Manhyia Lot 4 (GHC 71,916.31) 13/03/2018 Osei Kwaku Afriyie Co. Ltd - Low voltage network Improvement works in Ashanti Region

Danyame Lot 13 (GHC 66,828.87) 13/03/2018 Joe & Sam Electrical Engineering - Low voltage network Improvement works in Ashanti Region

Danyame Lot 5 (GHC 44,456.89) 13/03/2018 Elios Company Umited - Low voltage network improvement works in Ashanti Region

Suame Lot 5 (GHC 96,897.96) 16/03/2018 Dexter Engineering Umited - Low voltage network Improvement works in Ashanti Region

Suame Lot 3 (GHC 57,032.82) 19/03/2018 Power Links Limited - Low voltage network improvement works in Ashanti Region

Asokwa Lot 6 (GHC 58,496.14) 20/03/2018 Naskan Investment - Low voltage network improvement works in Ashanti Region

Danyame Lot 10 (GHC 99,948.60) 20/03/2018 Cross lndustria Exchange - Low voltage network Improvement works in Ashanti Region

Danyame Lot 12 (GHC 57,518.97) 20/03/2018 Godafo Electrical Co. Ltd - Low voltage network Improvement works In Ashanti Region

Danyame Lot 9 (GHC 17,912.16) 20/03/2018 America West Umited - Low voltage network improvement works in Ashanti Region

Manhyia Lot 3 (GHC 58,992.49) 20/03/2018 Benchmark Engineering Umited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 21 (GHC 64,197.34) 20/03/2018 Nafa Investments - Low voltage network improvement works in Ashanti Region

Suame Lot 1 (GHC 62,442.52) 21/03/2018 Crestline (1982) Umited - Low voltage network Improvement works in Ashanti Region

Kwabre Lot 2 (GHC 55,027.17) 21/03/2018 Mighty Power Electrical Umited - Low voltage network Improvement works in Ashanti Region

Kwabre Lot 5 (GHC 85,252.38) 21/03/2018 Odupon Electricals Company Umited - Low voltage network Improvement works In Ashanti Region

Danyame Lot 24 (GHC 49,851.92) 21/03/2018 Abraham Turning Point Enterprise - Low voltage network Improvement works in Ashanti Region

Ayigya Lot 2 (GHC 65,366.67) 21/03/2018 Dynamic Resoursce Ghana Ltd- Low voltage network Improvement works in Ashanti Region

Danyame Lot 15 (GHC 43,393.77) 21/03/2018 Kwamens Electrical Engineering- Low voltage network Improvement works in Ashanti Region

Danyame Lot 11 (GHC 87,043.93) 21/03/2018 Jewalk Company Limited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 22 (GHC 59,176.13)

13

33,549

33,546

33,582

33,579

33,514

33,603

33,588

33,618

33,596

33,593

33,590

33,601

33,604

33,605

33,599

33,616

33,607

33,609

137,474

16,270

15,119

10,057

21,921

12,907

13,240

22,620

13,018

4,054

13,351

14,529

14,132

12,460

19,304

11,288

14,801

9,826

19,710

13,399

I I 1'41 ,,. • ::,a ,:,,-~ •• I •~• .,. • :.iia ,·~ .'. . .... .,,;;a

··,'·59

22/03/2018 Osemos Electrical Construction - Low voltage network Improvement works in Ashanti Region Kwabre Lot 1 (GHC 74,174.66)

22/03/2018 Katech Engineering Works - Low voltage network Improvement works in Ashanti Region Danyame Lot 20 (GHC 85,771.36)

22/03/2018 Boat Electrical Engineering Umited - Low voltage network Improvement works in Ashanti Region Danyame Lot 25 (GHC 55,776.76)

22/03/2018 King Nyanka Enterprise - Low voltage network Improvement works in Ashanti Region Asokwa Lot 4 (GHC 85,266.31)

22/03/2018 Quanta Electrical Company - Low voltage network Improvement works in Ashanti Region Ayigya 5 (GHC 40,636.13)

23/03/2018 Eagle Electrical Ventures - Low voltage network Improvement works in Ashanti Region Ayigya Lot 4 (GHC 91,245.90)

28/03/2018 Theophilous Kusi Umited - Low voltage network Improvement works in Ashanti Region Asokwa Lot 1 (GHC 60,449.18)

20/04/2018 Tower Rock Umited - Low voltage network improvement works In Ashanti Region Danyame Lot 19 (GHC 59,798.53)

25/04/2018 Myfriend Electrical Company Ltd - Low voltage network Improvement works in Ashanti Region Danyame Lot 3 (GHC 22,188.05)

04/05/2018 Sublime Investments - Low voltage network improvement works in Ashanti Region Danyame Lot 1 (GHC 19,930.34)

07/05/2018 Roxno Electrical Engineering - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 7 (GHC 118,473.00)

07/05/2018 Western Construction Limited - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 9 (GHC 91,132.73)

08/05/2018 AKBY Umited - Low voltage network improvement works In Ashanti Region Suame Lot 2 (GHC 43,184.96)

22/05/2018 Jewalk Company Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 22 (GHC 67,877.33)

27/06/2018 Unto Abraham Company Limited - Low voltage network Improvement works in Ashanti Region Manhyia Lot 1 (GHC 30,000.00)

13/07/2018 Unto Abraham Company Limited - Low voltage network Improvement works in Ashanti Region Manhyia Lot 1 (GHC 40,000.00)

13/07/2018 Boat Electrical Engineering Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 25 (GHC 80,241.13)

19/07/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 3 (GHC 50,000.00)

19/07/2018 Renowned Electrical Contractors Ltd - Low voltage network Improvement works In Ashanti Region Ayigya Lot 1 (GHC 50,000.00)

14

.. .. -33,622

33,606

33,591

33,620

33,594

33,608

33,589

137,474

137,474

137,474

137,474

137,474

137,474

137,474

211,389

297,247

289,009

137,474

137,474

- .. 16,832

19,463

12,657

19,349

9,221

20,699

13,718

13,568

5,034

4,519

26,860

20,661

9,789

15,365

6,649

8,535

17,122

10,663

10,663

..

' ., ... - - - .. - - - - - ...... - ..... ! ... 19/07/2018 Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region

Abuakwa Lot 10 (GHC 50,000.00) 20/07/2018 Power Links Limited - Low voltage network improvement works in Ashanti Region

Asokwa Lot 6 (GHC 50,000.00) 27/07/2018 Renowned Electrical Contractors Ltd - Low voltage network Improvement works in Ashanti Region

Ayigya Lot 1 (GHC 50,000.00) 31/07/2018 Unto Abraham Company Limited - Low voltage network Improvement works in Ashanti Region

Manhyia Lot 1 (GHC 31,901.27) 06/08/2018 Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region

Abuakwa Lot 10 (GHC 50,000.00) 07/08/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region

Abuakwa Lot 3 (GHC 50,000.00) 09/08/2018 Renowned Electrical Contractors Ltd - Low voltage network improvement works in Ashanti Region

Ayigya Lot i (GHC 25,823.13) 09/08/2018 Sbinc Solution Limited - Low voltage network improvement works in Ashanti Region

Abuakwa Lot 8 (GHC 30,000.00) 10/08/2018 Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region


Abuakwa Lot 3 (GHC 17,167.55) 17/08/2018 Sbinc Solution Limited - Low voltage network improvement works in Ashanti Region

Abuakwa Lot 8 (GHC 30,000.00) 17/08/2018 Kwamens Electrical Engineering- Low voltage network Improvement works in Ashanti Region

Danyame Lot 11 (GHC 30,000.00) 27/08/2018 Kwamens Electrical Engineering- Low voltage network Improvement works in Ashanti Region

Danyame Lot 11 (GHC 30,000.00) 03/09/2018 Sbinc Solution Limited - Low voltage network improvement works in Ashanti Region

Abuakwa Lot 8 (GHC 147,552.25) 04/09/2018 Kwamens Electrical Engineering- Low voltage network Improvement works in Ashanti Region

Danyame Lot 11 (GHC 72,149.52) 25/09/2018 Quanta Electrical Company - Low voltage network Improvement works in Ashanti Region

Ayigya 5 (GHC 40,00.00) 26/09/2018 Boyka Engineering Limited- Low voltage network Improvement works in Ashanti Region

Kwabre Lot 4 (GHC 50,000.00) 27/09/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region

Abuakwa Lot 4 (GHC 60,000.00) 04/10/2018 Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region

Abuakwa Lot 10 (GHC 50,000.00)

15

137,474

211,389

137,474

211,389

137,474

137,474

137,474

211,389

137,474

137,474

139,797

150,179

211,389

151,898

152,890

16,332

164,245

164,245

172,722

10,663

10,658

10,645

6,792

10,642

10,637

5,493

6,381

10,633

3,648

6,361

6,361

6,355

31,219

15,256

8,384

10,474

12,565

10,423

I l:t~ •• - - .. •• •• .. - .. .. - .al 10/10/2018 Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region


Abuakwa Lot 4 (GHC 30,000.00) 24/10/2018 Darex Construction & Electrical Ltd - Low voltage network Improvement works in Ashanti Region

Suame Lot 8 (GHC 30,000.00) 24/10/2018 Glatricks Engineering Limited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 14 (GHC 20,000.00) 25/10/2018 Naskan Investment - Low voltage network improvement works in Ashanti Region

Danyame Lot 10 (GHC 20,000.00) 01/11/2018 Naflin Consult Limited - Low voltage network improvement works in Ashanti Region

Suame Lot 6 (GHC 316,901.46) 09/11/2018 Boyka Engineering Limited - Low voltage network Improvement works in Ashanti Region

Kwabre Lot 4 (GHC 50,000.00) 12/11/2018 Electrical Solutions Limited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 2 (GHC 56,085.46) 13/11/2018 Odupon Electricals Company Limited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 24 (GHC 74,908.42) 15/11/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region

Abuakwa Lot 4 (GHC 33,321.70) 16/11/2018 Darex Construction & Electrical Ltd - Low voltage network Improvement works in Ashanti Region

Suame Lot 8 (GHC 30,000.00) 16/11/2018 Darex Construction & Electrical Ltd - Low voltage network Improvement works in Ashanti Region

Suame Lot 8 (GHC 30,000.00) 20/11/2018 Glatricks Engineering Limited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 14 (GHC 30,491.45) 06/12/2018 Darex Construction & Electrical Ltd - Low voltage network Improvement works in Ashanti Region

Suame Lot 8 (GHC 22,484.89) 10/12/2018 Naskan Investment - Low voltage network improvement works In Ashanti Region

Danyame lot 10 {GHC 20,000.00) 11/12/2018 Archives Limited - Low voltage network improvement works In Ashanti Region

Kwabre Lot 3 (GHC 50,000.00) 19/12/2018 Fordkof Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region

Manhyia Lot 2 {GHC 40,000.00) 19/12/2018 Osei Kwaku Afriyie Co. Ltd - Low voltage network Improvement works in Ashanti Region

Danyame Lot 13 {GHC 30,000.00) 19/12/2018 Katech Engineering Works - Low voltage network improvement works in Ashanti Region

Danyame Lot 20 {GHC 30,000.00)

16

.. - .. 173,492

185,792

185,895

185,983

185,768

194,954

202,767

202,306

201,483

201,308

233,022

201,869

232,983

240,806

241,219

252,722

243,337

253,018

250,274

- .. 16,580

6,260

6,260

4,174

4,174

66,136

10,435

11,705

15,635

6,954

6,261

6,261

6,362

4,673

4,154

10,381

8,298

6,224

6,224

P'l!!I

I ··:1 .;. 8?,i,1'111.· . ,,.,. .. - .. - - .. .. .. 19/12/2018 Tower Rock Limited - Low voltage network improvement works in Ashanti Region

Danyame Lot 19 (GHC 50,000.00)

.. .. 19/12/2018 Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region

Abuakwa Lot 10 (GHC 79,577.11) 27/12/2018 Jewalk Company Limited - Low voltage network Improvement works in Ashanti Region

Danyame Lot 22 (GHC 37,941.56) 31/12/2018 Dexter Engineering Limited - Low voltage network Improvement works In Ashanti Region

Suame Lot 3 (GHC 30,000.00)

Sub-total 17

.. - .. 252,893

243,381

243,319

245,643

.. ... 10,373

16,509

7,869

6,221

1,346,686

..

ra 1··.:• ,.,:c.:1 •. ::;a .,;,;;..:,a .;,,,a '2 ·~- '.~ ··• '<9 ,1-'llf • l '"'''.}lill ., .• ,,. a;;?;a - - - ~ - - - - -({~- ·zr:~ -,;~\~ -0·t:J• ··i::y9 -~ ···'-({?'. -t~ -r~-- ~ -:Ufc'"'9 ···(•.,,.



FINANCED BY: IDA CREDIT NO. 4356-GH, 4730-GH AND 56290-GH; ACGF GRANT NO. TF 090450;


Movement on Special Bank Account No. 0011134404638703/702 attached to

IDA 47300 held at Ecobank for the year ended 31st December 2018

Value Date Particulars

01/01/2018 Balance as per bank statement and cash book.

31/12/2018

31/12/2018

Receipts

Transfer from IDA-Application No. ECG/IDA/GEDAP Sub-Total

Total receipts

Payments

Total Payments

Bank Charges

Balance per bank statement and cash book

18

Amount $

5,077

5,077

5,077

..

I .~ I a I a>JI a·:I a?I p;~a Si:• -. ~ - - _. .. 11118 - - _.. P!ll

ELECTRICITY COMPANY OF GHANA LIMITED GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT

FINANCED BY: IDA CREDIT NO. 4356-GH, 4730-GH AND 56290-GH; ACGF GRANT NO. TF 090450; ADF LOAN NOS. 2100150015548 AND 2100150030894 AND ECG CONTRIBUTIONS

Movement on Special Bank Account No. 0251346251029 attached to IDA 56290 held at Universal Merchant Bank for the year ended 31st December 2018

Value Date Partla1lars

01/01/2018 Balance as per bank statement and cash book.

Receipts

27/02/2018 Transfer from !DA-Application No. ECG/IDA/GEDAPAFll03 15/05/2018 Transfer from !DA-Application No. ECG/IDA/GEDAPAFII04

Sub-Total

Total receipts

Payments 09/03/2018 Advance to Ministry of Energy 19/06/2018 Advance to Ministry of Energy 27/08/2018 Advance to Ministry of Energy 23/10/2018 Toyota Ghana Company Limited -for supply of project vehicles 26/10/2018 Fairgreen Limited - for supply of desktop and laptop computers and accessories 26/11/2018 Advance to Ministry of Energy

31/12/2018 Total Payments

31/12/2018 Bank Charges

31/12/2018 Balance per bank statement and cash book

19

Amount $

3,670,490

169,315 85,290

254,605 3,925,095

169,315

84,802

103,160

690,907

84,558

89,926

1,222,668

1,344

2,701,083

Documents

ELECTRICITY COMPANY OF GHANA - World Bank · 2019. 8. 29. · ELECTRICITY COMPANY OF GHANA UMITED GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT FINANCED BY: IDA CREDIT NOS. 4356-GH,