The newly appointed Chief Executive Officer (CEO) of Volta River Authority (VRA), Engineer Obeng Kenzo, is on a strategic mission to recover all debts owed the government entity that exists to power economies and raise the living standards of Ghanaians.
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.
Engineer Edward Obeng Kenzo, New Crusading GUIDE learnt, has been travelling in and out of the country engaging both internal and external partners in 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.
VRA is on a mission for growth with a good record of operational growth and profit earning. It recorded profit of ¢110.893 million in 2022, based on Auditor General’s 2022 Report. In 2021, the Authority registered a profit of ¢112.758 million.
According to the 2022 Auditor General Report, total income increased by 34% to ¢5.628 billion in 2022, from ¢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 VRA also increased by 36.1% from ¢8.631 billion in 2021 to ¢11.751 billion in 2022 due to an increase in trade and other receivables.
Similarly, current liabilities recorded an increase of 26.2% from ¢6.861 billion in 2021 to ¢8.659 billion in 2022. This was due to an increase in trade payables from ¢6.404 billion in 2021 to ¢8.363 billion in 2022.
From all indications, VRA appears well-positioned to make profit, an indication of good and quality leadership at the helm of affairs.
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’ 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.
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: provides 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.
Departments: Hydro Generation, Engineering Services, Technical Services, Environment & Sustainable Development, Commercial Services, Thermal Generation, Strategic Projects among others.
