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The Volta River Authority (VRA) has told Citi Business News it
has begun processes to handover majority of its non-power commercial assets to private companies to manage.

This according to the VRA, is part of moves to maximise fully, the business potential in most of its commercial assets in the country.

If the processes are completed by the middle of next year, the Akosombo Hotels, Kpong Farms among others, will go into private hands.

The Chief Executive Officer of VRA, Kweku Awotwi, disclosed this to Citi Business News and justifies why the move is crucial for the company.

“It might save us some money from a staff point of view, but what we are really looking for is to create value,” Mr. Awotwi said. “So today those lands sit on my books [and] I don’t use them. They are sitting at a market value on my accounts if I could find a property developer to develop my land in Akuse where we could get rent or income that could bring value to me, train my work force it might even help me cut my overheads. And that’s what we are trying to do.”

Mr. Awotwi revealed that VRA has actually done that for four of the six non-power areas. “And in terms of the business plans we started to identify or come up with a process to identify partners for those four that we’ve done.

“Already there are a lot of interest in Akosombo [and] Akuse areas in particular, we have many lands we could use for hospitality,” he added.
 
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