The new Chief Executive Officer (CEO) of the Volta River Authority (VRA), Ing. Edward Obeng Kenzo, has embarked on a strategic mission to recover all debts owed to the institution.
This initiative is part of a broader effort to strengthen VRA’s financial position and invigorate its operations, ensuring its continued role as Ghana’s leading energy provider.
Since assuming office, Ing. Obeng Kenzo has been traveling both within and outside the country to engage with internal and external partners to recover the outstanding debts. These efforts aim to enhance the financial stability of the VRA and ensure that it remains well-positioned to meet Ghana’s growing energy needs.
Ing. Obeng Kenzo has made it clear that the recovery of debts is central to promoting operational growth and securing the long-term sustainability of the VRA’s energy production.
Financial Growth and Profit
VRA’s financial performance under Ing. Obeng Kenzo’s leadership has shown promising growth. The authority recorded a profit of GH¢110.893 million in 2022, as indicated by the Auditor General’s 2022 Report. In 2021, the VRA also registered a profit of GH¢112.758 million.
The 2022 Auditor General Report revealed that the total income of VRA increased by 34%, rising to GH¢5.628 billion in 2022, up from GH¢4.199 billion in 2021. This increase in revenue was primarily driven by a 38.7% rise in power sales revenue, highlighting the continued demand for electricity in Ghana.
Ing. Obeng Kenzo’s leadership is focused on further strengthening VRA’s position in the energy sector, ensuring that it remains a key player in meeting the country’s energy needs while improving its financial standing.