The Chief Executive Officer (CEO) of the Volta River Authority (VRA) Engineer Obeng Kenzo has embarked on a strategic mission to recover all debts owed VRA.
The move forms part of efforts to strengthen the financial position of VRA and invigorate its operations as the most important energy firm in the country.
It’s quite exuberant that the CEO, Engineer Edward Obeng Kenzo has been traveling in and out of the country engaging both internal and external partners in an effort to recover all debts owed VRA.
Since assuming office, Mr. Obeng Kenzo has stepped up efforts at promoting operational growth aimed at strategically positioning VRAs operations to help sustain energy production and meeting the energy needs of the people of Ghana.
The VRA is sincerely on a mission for growth with a good record of operational growth and profit earning.
It recorded a profit of GH₵110.893 million in 2022, based on Auditor General’s 2022 Report. In 2021, the Authority registered a profit of GH₵112.758 million.
According to the 2022 Auditor General’s Report, total income increased by 34% to GH₵5.628 billion in 2022, from GH₵4.199 million in 2021. The increase in total income was due to a 38.7% increase in revenue from power sales.
Current Assets of the VRA also increased by 36.1% from GH₵8.631 billion in 2021 to GH₵11.751 billion in 2022 due to an increase in trade and other receivables.
Similarly, current liabilities recorded an increase of 26.2% from GH₵6.861 billion in 2021 to GH₵8.659 billion in 2022. This was due to an increase in trade payables from GH₵6.404 billion in 2021 to GH₵8.363 billion in 2022.
It is quite remarkable that we are seeing a state agency like VRA well-positioned to make a profit, an indication of good and quality leadership at the helm of affairs.
This is an indication that when you put good leaders in strategic positions, they deliver and that is what we are seeing today.
Edward Ekow Obeng-Kenzo is an accomplished Business Executive, focused on supporting cross functional teams in achieving exceptional, mission critical results in highly competitive environments that demand continuous improvement to increase return on investment (RoI) and deliver customer satisfaction.
Obeng-Kenzo has 24 years of experience in the power sector. He holds a Master’s Degree in Public Administration (MPA) and a Bachelor of Science Degree (BSc Hons) in Mechanical Engineering from the Kwame Nkrumah University of Science and Technology.
He is a member of the Ghana Institution of Engineering (GIE).
Prior to his appointment into his current position, Obeng Kenzo served as the Director, Thermal Generation SBU, Plant Manager, Tema Thermal Power Complex (TTPC), Operations Manager, TTPC and Project Manager, Tema Thermal 2 Power Project, (49.5MW Siemens Emergency Power Plant).
Key responsibilities include providing strategic direction and leadership to the departments in the Engineering and Operations branch to innovate and improve their efficiencies to ensure VRA stays a market leader. Enditem
Source: Ghana Eye Report
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