E E I I I ELECTRICITY COMPANY OF GHANA I I GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT I FINANCED BY: I INTERNATIONAL DEVELOPMENT ASSOCIATION (IDA) CREDIT NOS: 4356-GH, 47300-GH AND 56290-GH; AFRICA CATALYTIC GROWTH FUND (ACGF) GRANT NO. TF 090450; AFRICAN I DEVELOPMENT FUND (ADF) LOANS NOS. 2100150015548 AND 2100150030894 AND ELECTRICITY COMPANY OF GHANA UMITED'S I COUNTERPART FUND I PROJECT FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2018 I I I I I I E E [ 'I ELECTRICITY COMPANY OF GHANA UMITED GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT I 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 I contents ITEM E Transmittal Letter 1 I Independent Auditor's Report 2 Statement of Financing and Expenditures 3 I Statement of Financial Position 4 I Notes to the Financial Statements 5 I Statement of Approved Allocation of Credit Facilities Summary of Movements in IDA Credit Facilities 6 7 I Summary of Movements in ADF Loan Facilities 8 E Details of IDA Credit Expenditures 9 Details of ADF Loan Expenditures 10 Details of Electricity Company of Ghana (ECG) 11-17 Limited's Contributin I IDA Special Account Financial Statements 18 E ADF Special Account Financial Statements 19 E I 'I 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: seacauditgh@yahoo.com I I Our Ref. No. SAC.3/90/VOL.3/16 23rd May 2019 INTERNATIONAL DEVELOPMENT ASSOCIATION I 1818 STREET, NW. WASHINGTONG, D.C. 25433 U.S.A. E Dear Sir, I ELECTRICITY COMPANY OF GHANA LIMITED I GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT FINANCED BY: (i) INTERNATIONAL DEVELOPMENT ASSOCIATION (IDA) I (ii) CREDIT NOS. 4356-GH, 47300-GH AND 56290-GH AFRICA CATALYTIC GROWTH FUND (ACGF) GRANT NO. TF 090450; I (iii) (iv) 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 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. Ii 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. I ' Yours faithfully, I STATE ENTERPRISES AUDIT CORPORATION • • F.B. SENAHIA ACTING MANAGING DIRECTOR C p I E S€AC State Enterprises Audit Corporation 4.. Floor, Republic House, Kwame Nkrumah Avenue, P. o. Box M198, Accra, Ghana. I Tel: 233 302 680157, Fax: 233 302 680156, E-Mall: seacauditgh@yahoo.com INDEPENDENT AUDITORS' REPORT TO THE INTERNATIONAL DEVELOPMENT ASSOCIATION I ' (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 I 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. I 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 I financial statements. It is our responsibility as auditors to form an independent opinion, based on our audit of the statements and report to you. I 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 I financial statements, and of whether the accounting policies used are appropriate to the Company's circumstances, consistently applied and adequately disclosed. I 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 I statements. Opinion E 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 I 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 ~b ? ~')lj a." 0 , J CL FY"7l ~1.--'1 .r 2 ~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 ! ELECTRICITY COMPANY OF GHANA LIMITED GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT E 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 E Statement of Financial Position as at 31st December, 2018 2018 2017 NOTES $ I ASSETS $ Non-Current Assets I Accumulated Project Cost 2(a) 205,092,706 196,958,740 £ Current Assets .' Advance to Sub-DA Account of Ministry of Energy Bank Balance - DA to IDA Credit No. 47300 2(b) 2(b) 393,086 5,077 200,000 5,077 I - DA to IDA Credit No. 56290 2{b) 2,701,083 3,670,490 I Total Assets 208,191,953 200,834,307 FINANCED BY: I IDA Credit No. 4356 - GH 64,991,428 64,991,428 IDA Credit No. 47300 - GH 65,106,167 65,106,167 I Ministry of Energy IDA Grant ACGF Grant No. TF090450 4,335,046 18,191,691 4,335,046 18,191,691 ADF Loan No. 2100150015548 20,106,853 20,106,853 I ADF Loan No. 2100150030894 ECG's Contributions 14,383,041 16,841,261 9,022,285 14,843,516 Interest Earned 366,831 366,831 I DA to IDA Credit No. 56290 Total 3,869,635 208,191,953 3,870,490 200,834,307 I I I ECG DIRECTOR OF FINANCE ECG MANAGING DIRECTOR I E 4 • I I, I ELECTRICITY COMPANY OF GHANA UMITED GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT I 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 I Notes to the Flnandal Statements for the year ended 31st December, 2018 I 1 ACCOUNTING POLICIES I (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 ii 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 E recognised and amortised at the point of commissioning, capitalization and transfer of asset. (C) Foreign Currency Transaction I 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 I' United Stetes Dollars are converted into United States Dollars at the exchange rate ruling ii at that date I 2 ASSETS (a) Non-current Assets I Accumulated Project Cost consists of the following: 2018 2017 $ $ I Land and Building Distribution Assets 4,311,390 194,629,900 4,311,390 187,271,399 Motor Vehicles 1,891,746 1,200,839 E Computers and Accessories Training and Consultancy 448,918 3,810,752 364,360 3,810,752 Total 205,092,706 196,958,740 I , (b) Current Assets IDA Designated Account - Ecobank 5,077 5,077 • IDA Designated Account - Merchant Bank Advance to Sub-DA - Ministry of Energy Total 2,701,083 393,086 3,099,247 3,670,490 200,000 3,875,567 ' • 5 E I I ELECTRICITY COMPANY OF GHANA UMITED GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT I 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 I Statement of approved allocation of Credit Fadlltles as at 31st December, 2018 SDR I 1.0 1.1 IDA Credit No. 4356-GH Broard Allocation of Credit Facility 38,190,000 (i) l{a) Works and Goods - Components Bl{a) and B2{a) 23,230,000 E (ii) 2(b) Goods and Consultant's Services (iii) 4{b) Training under B2(a) 1,120,000 750,000 (iv) l{b) Works under Cl(a) 11,800,000 ! (v) 3{b & c) Consultant's Services 1,290,000 38,190,000 I 2.0 IDA Credit No. 4730-GH SDR 46,200,000 I 2.1 Broard Allocation of Credit Facility (i) Works and Goods l{a) 45,400,000 (ii) Goods and Consultants 2(b) 500,000 I (iii) Training 4(b) 300,000 46,200,000 I 3.0 IDA Credit No. 56290-GH SDR 42,700,000 I 3.1 Broard Allocation of Credit Facility (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 • 'b'h 42,700,000 • UAC 'E 4.0 ADF Loan No. 2100150015548 UAC 12,190,000 5.0 ADF Loan No. 2100150030894 28,600,000 ' • 6.0 ACGF Grant No. TF 090450 USD 15,000,000 ' • ..r 6 ' .. •:• .. .. ----- - •• .. ,~ ,S\ .. .. .. .. .. GHANA ENERGY DEVELOPMENT AND ACCESS PROJECT FINANCED BY: IDA CREDIT NOS. 4356-GH AND 47300-GH; ACGF IM4!1 r.l 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 Undisbursed Description of Expenditure Cat. Approved Disbursements Disbursements Cummulative Disbursements Balance Allocation As At 01/01/2018 In the year 2018 At 31/12/2018 At 31/12/2018 SOR SOR $ SOR $ SOR $ SOR Works and Goods, Part D l(a) 45,400,000 46,088,296 65,036,117 - 46,088,296 65,036,117 (688,296) Consultant Services, Part D 2(b) 500,000 10,007 14,121 10,007 14,121 489,993 Training, Part D 4(b) 300,000 99,971 141,070 99,971 141,070 200,029 DA-02 Designated Account (60,336) (85,141) (60,336) (85,141) 60,336 46,200,000 46,137,938 65,106,167 - - 46,137,938 65,106,167 62,062 7 ·--------- .......... - ........ 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 Undisbursed 1escription of Expenditure Cat. Approved Disbursements Disbursements Cummulatlve Disbursements Balance Allocation As At 01/01/2018 In the year 2018 At 31/12/2018 At 31/12/2018 SOR SDR $ SOR $ SOR $ SOR ,oods, Non Cons Svcs, Cons Svcs 1 40,821,200 - - - - - - 40,821,200 - S, Gds, OC for Proj Mgmt 3 455,500 176,271 246,260 176,271 246,260 279,229 .e-financing PPF for Sankofa Proj 8 1,423,300 1,425,176 1,991,042 1,425,176 1,991,042 (1,876) )A56290-GH DA-A - 2,753,100 3,846,218 2,753,100 3,846,218 (2,753,100) 42,700,000 - - 4,354,546 6,083,519 4,354,546 6,083,519 38,345,454 Disbursement behind schedule as Loan will expire in September, 2019 8 I I ';' ' .,.,,. •·• I ,,. l':1'!9 .,. a:;• •~ 19 I I •,-.· W 0 .\?llf ••• ·"•• 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 Undlsbursecl Approved AsAt in the As At Balance As At ture category Allocation 01/1/2018 Year 2018 31/12/2018 31/12/2018 UAC UAC $ UAC $ UAC $ UAC 001 15,180,000 6,494,285 9,022,285 3,334,875 4,747,891 9,829,160 13,770,176 5,350,840 002 12,510,000 - - 429,800 &12,866 429,800 612,866 12,080,200 003 910,000 - - - - - - 910,000 28,600,000 6,494,285 9,022,285 3,764,675 5,360,756 10,258,960 14,383,041 18,341,040 9 I .,,. St• .'if. :ITV COMPANY OF GHANA LIMITED .. .. •• .. .. - .. .. .. .. .. .. .. .. :NERGY DEVELOPMENT AND ACCESS PROJECT r• ra 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 Beneficiary Project Description Reference Amount Amount $ UAC .8 Jiangsu Zhongchao Holding Supply of conductors, cables and accessories Lot 1 RG N0053703 1,232,116 862,953 .8 Jiangsu Zhongchao Holding Supply of conductors, cables and accessories Lot 1 RG N0053704 684,509 479,418 l8 Jiangsu Zhongchao Holding Supply of conductors, cables and accessories Lot 1 RG N0053705 838,523 575,225 l8 Jiangsu Zhongchao Holding Supply of conductors, cables and accessories Lot 1 DPN00020 558,302 395,623 Sub Total 3,313,450 2,313,219 LS Best & Crompton Engineering Supply of distribution transformers and switches DPNOOOOS 169,980 118,622 LS Best & Crompton Engineering Supply of distribution transformers and switches DPN00017A 112,685 79,346 LS Best & Crompton Engineering Supply of distribution transformers and switches DPN00021 1,023,800 731,025 LS Best & Crompton Engineering Supply of distribution transformers and switches DPN00021 127,975 92,662 Sub Total 1,434,440 1,021,656 Supply & Installation of a switching station & 18 T & D Power Solutions Interconnecting circuit at Asankragua DPN00013 83,037 57,170 Supply & Installation of a bulk supply point & 18 T & D Power Solutions Interconnecting circuita at Juabeso DPN00016 184,963 127,345 Supply & Installation of a switching station & 18 T & D Power Solutions Interconnecting circuit at Asankragua DP N00014 43,308 29,835 Supply & Installation of a bulk supply point & 18 T & D Power Solutions Interconnecting clrculta at Juabeso DPN00015 77,366 53,298 Supply & Installation of a bulk supply point & 18 T & D Power Solutions Interconnecting circulta at Juabeso DPN00018 35,380 25,440 Supply & Installation of a bulk supply point & 18 T & D Power Solutions interconnecting clrcuita at Juabeso DP N00023 71,958 52,102 Supply & Installation of a switching station & 18 T & D Power Solutions Interconnecting circuit at Asankragua DPN00024 68,802 49,817 Supply & Installation of a switching station & 18 T & D Power Solutions Interconnecting circuit at Asankragua DPN00025 48,053 34,793 Sub Total 612,866 429,800 Grand Total 5,360,756 ~[764,675 10 I .,. f,i. I''• :ITV COMPANY OF GHANA LIMITED .till :NERGY DEVELOPMENT AND ACCESS PROJECT F:,• • • ,dll ,"J•u •• • ','!i."11111\ \'~ •1• ...... 1'''9 1'9 .... .,. r• r,,1 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 Reference Amount in F/C $ 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) GEDAP AF A3/10 LOTl 25,543 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) GEDAPAF A2/10 465,723 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) GEDAP AF A3/10 LOTl 86,107 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) GEDAP AF A3/10 LOTl 13,188 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 GEDAP AF A3/10 LOTl 25,548 19/12/2018 Disbursement to Shenzhen Farad Electric Co. Ltd for supply and installation of 33kv and llkv feeders to connect substations in Ashanti Region (GHC 29,025.00) GEDAP AF A3/10 LOTl 6,021 19/12/2018 Disbursement to Shenzhen Farad Electric Co. Ltd for supply and installation of 33kv and llkv feeders to connect substations in Ashanti Region (GHC 92,026.26) GEDAP AF A3/10 LOTl 19,092 19/12/2018 Disbursement to Shenzhen Farad Electric Co. Ltd for supply and installation of 33kv and llkv feeders to connect substations in Ashanti Region (GHC 47,415.60) GEDAP AF A3/10 LOTl 9,837 Sub-total 651,059 .DF Loan No. 2100150030894 for the year ended 31st December 2018 Value Date Installation Reference Amount in F/C $ 30/01/2018 Jewalk Company Limited - Low voltage network improvement works in Ashanti Region Danyame Lot 22 (GHC 57,065.03) 137,474 12,893 15/02/2018 Royal Sentry - Low voltage network improvement works In Ashanti Region Abuakwa Lot 5 (GHC 57,508.27) 33,385 13,010 15/02/2018 Archives Limited - Low voltage network improvement works in Ashanti Region Kwabre Lot 3 (GHC 46,916.01) 33,391 10,614 15/02/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 3 (GHC 61,327.65) 33,386 13,874 11 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) 33,394 24,951 01/03/2018 Ans Construction Services - Low voltage network Improvement works in Ashanti Region Suame Lot 9 (GHC 56,315.16) 33,506 12,738 08/03/2018 Electrical Solutions Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 2 (GHC 22,027.95) 33,499 4,982 08/03/2018 Glory Lord Ghana Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 16 (GHC 17,670.50) 33,498 3,997 09/03/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 4 (GHC 77,994.59) 33,515 17,643 09/03/2018 Sbinc Solution Limited - Low voltage network improvement works in Ashanti Region Abuakwa Lot 8 (GHC 99,961.68) 33,548 22,612 09/03/2018 SB Dynamics Services - Low voltage network improvement works In Ashanti Region Abuakwa Lot 6 (GHC 109,119.40) 33,513 24,683 09/03/2018 Boyka Engineering Limited - Low voltage network Improvement works in Ashanti Region Kwabre Lot 4 (GHC 107,073.34) 33,547 24,220 12/03/2018 Stone Electrical Works Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 23 (GHC 86,066.67) 33,512 19,469 12/03/2018 Naflin Consult Limited - Low voltage network improvement works in Ashanti Region Suame Lot 6 (GHC 139,673.67) 33,516 31,595 12/03/2018 Electro Power Engineering Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 18 (GHC 38,288.38) 33,510 8,661 12/03/2018 Renowned Electrical Contractors Ltd - Low voltage network Improvement works in Ashanti Region Ayigya Lot 1 (GHC 75,968.42) 33,517 17,184 12/03/2018 Fordkof Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region Manhyia Lot 2 (GHC 58,274.21) 33,545 13,182 12/03/2018 Glatricks Engineering Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 14 (GHC 36,419.46) 33,508 8,238 12/03/2018 Unto Abraham Company Limited - Low voltage network Improvement works In Ashanti Region Manhyia Lot 1 (GHC 57,285.48) 33,511 12,958 12/03/2018 Ghameric Enterprise - Low voltage network improvement works in Ashanti Region Suame Lot 10 (GHC 94,535.44) 33,519 21,384 13/03/2018 Foreen Electrical Eng. Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 1 (GHC 116,530.89) 33,520 26,363 13/03/2018 V. V. S. Limited - Low voltage network improvement works In Ashanti Region Ayigya Lot 3 (GHC 67,173.59) 33,518 15,197 13/03/2018 Modes Power Services - Low voltage network improvement works in Ashanti Region Abuakwa Lot 2 (GHC 106,310.11) 33,507 24,050 12 I l"I'91"••·-·- .. 13/03/2018 -----~----aqr.r, Sapato Company Umited - Low voltage network Improvement works in Ashanti Region Manhyia Lot 4 (GHC 71,916.31) 33,549 16,270 13/03/2018 Osei Kwaku Afriyie Co. Ltd - Low voltage network Improvement works in Ashanti Region Danyame Lot 13 (GHC 66,828.87) 33,546 15,119 13/03/2018 Joe & Sam Electrical Engineering - Low voltage network Improvement works in Ashanti Region Danyame Lot 5 (GHC 44,456.89) 33,582 10,057 13/03/2018 Elios Company Umited - Low voltage network improvement works in Ashanti Region Suame Lot 5 (GHC 96,897.96) 33,579 21,921 16/03/2018 Dexter Engineering Umited - Low voltage network Improvement works in Ashanti Region Suame Lot 3 (GHC 57,032.82) 33,514 12,907 19/03/2018 Power Links Limited - Low voltage network improvement works in Ashanti Region Asokwa Lot 6 (GHC 58,496.14) 33,603 13,240 20/03/2018 Naskan Investment - Low voltage network improvement works in Ashanti Region Danyame Lot 10 (GHC 99,948.60) 33,588 22,620 20/03/2018 Cross lndustria Exchange - Low voltage network Improvement works in Ashanti Region Danyame Lot 12 (GHC 57,518.97) 33,618 13,018 20/03/2018 Godafo Electrical Co. Ltd - Low voltage network Improvement works In Ashanti Region Danyame Lot 9 (GHC 17,912.16) 33,596 4,054 20/03/2018 America West Umited - Low voltage network improvement works in Ashanti Region Manhyia Lot 3 (GHC 58,992.49) 33,593 13,351 20/03/2018 Benchmark Engineering Umited - Low voltage network Improvement works in Ashanti Region Danyame Lot 21 (GHC 64,197.34) 33,590 14,529 20/03/2018 Nafa Investments - Low voltage network improvement works in Ashanti Region Suame Lot 1 (GHC 62,442.52) 33,601 14,132 21/03/2018 Crestline (1982) Umited - Low voltage network Improvement works in Ashanti Region Kwabre Lot 2 (GHC 55,027.17) 33,604 12,460 21/03/2018 Mighty Power Electrical Umited - Low voltage network Improvement works in Ashanti Region Kwabre Lot 5 (GHC 85,252.38) 33,605 19,304 21/03/2018 Odupon Electricals Company Umited - Low voltage network Improvement works In Ashanti Region Danyame Lot 24 (GHC 49,851.92) 33,599 11,288 21/03/2018 Abraham Turning Point Enterprise - Low voltage network Improvement works in Ashanti Region Ayigya Lot 2 (GHC 65,366.67) 33,616 14,801 21/03/2018 Dynamic Resoursce Ghana Ltd- Low voltage network Improvement works in Ashanti Region Danyame Lot 15 (GHC 43,393.77) 33,607 9,826 21/03/2018 Kwamens Electrical Engineering- Low voltage network Improvement works in Ashanti Region Danyame Lot 11 (GHC 87,043.93) 33,609 19,710 21/03/2018 Jewalk Company Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 22 (GHC 59,176.13) 137,474 13,399 13 I I 1'41 22/03/2018 ,,. ::,a • ,:,,-~ •• I •~• .,. .'.. .... .. .. - - .. .. • :.iia ,·~ .,,;;a ··,'·59 Osemos Electrical Construction - Low voltage network Improvement works in Ashanti Region Kwabre Lot 1 (GHC 74,174.66) 33,622 16,832 22/03/2018 Katech Engineering Works - Low voltage network Improvement works in Ashanti Region Danyame Lot 20 (GHC 85,771.36) 33,606 19,463 22/03/2018 Boat Electrical Engineering Umited - Low voltage network Improvement works in Ashanti Region Danyame Lot 25 (GHC 55,776.76) 33,591 12,657 22/03/2018 King Nyanka Enterprise - Low voltage network Improvement works in Ashanti Region Asokwa Lot 4 (GHC 85,266.31) 33,620 19,349 22/03/2018 Quanta Electrical Company - Low voltage network Improvement works in Ashanti Region Ayigya 5 (GHC 40,636.13) 33,594 9,221 23/03/2018 Eagle Electrical Ventures - Low voltage network Improvement works in Ashanti Region Ayigya Lot 4 (GHC 91,245.90) 33,608 20,699 28/03/2018 Theophilous Kusi Umited - Low voltage network Improvement works in Ashanti Region Asokwa Lot 1 (GHC 60,449.18) 33,589 13,718 20/04/2018 Tower Rock Umited - Low voltage network improvement works In Ashanti Region Danyame Lot 19 (GHC 59,798.53) 137,474 13,568 25/04/2018 Myfriend Electrical Company Ltd - Low voltage network Improvement works in Ashanti Region Danyame Lot 3 (GHC 22,188.05) 137,474 5,034 04/05/2018 Sublime Investments - Low voltage network improvement works in Ashanti Region Danyame Lot 1 (GHC 19,930.34) 137,474 4,519 07/05/2018 Roxno Electrical Engineering - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 7 (GHC 118,473.00) 137,474 26,860 07/05/2018 Western Construction Limited - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 9 (GHC 91,132.73) 137,474 20,661 08/05/2018 AKBY Umited - Low voltage network improvement works In Ashanti Region Suame Lot 2 (GHC 43,184.96) 137,474 9,789 22/05/2018 Jewalk Company Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 22 (GHC 67,877.33) 137,474 15,365 27/06/2018 Unto Abraham Company Limited - Low voltage network Improvement works in Ashanti Region Manhyia Lot 1 (GHC 30,000.00) 211,389 6,649 13/07/2018 Unto Abraham Company Limited - Low voltage network Improvement works in Ashanti Region Manhyia Lot 1 (GHC 40,000.00) 297,247 8,535 13/07/2018 Boat Electrical Engineering Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 25 (GHC 80,241.13) 289,009 17,122 19/07/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 3 (GHC 50,000.00) 137,474 10,663 19/07/2018 Renowned Electrical Contractors Ltd - Low voltage network Improvement works In Ashanti Region Ayigya Lot 1 (GHC 50,000.00) 137,474 10,663 14 ' .,. . . - - - .. - - - - - ...... - ... . . . . .! 19/07/2018 Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 10 (GHC 50,000.00) 137,474 10,663 20/07/2018 Power Links Limited - Low voltage network improvement works in Ashanti Region Asokwa Lot 6 (GHC 50,000.00) 211,389 10,658 27/07/2018 Renowned Electrical Contractors Ltd - Low voltage network Improvement works in Ashanti Region Ayigya Lot 1 (GHC 50,000.00) 137,474 10,645 31/07/2018 Unto Abraham Company Limited - Low voltage network Improvement works in Ashanti Region Manhyia Lot 1 (GHC 31,901.27) 211,389 6,792 06/08/2018 Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 10 (GHC 50,000.00) 137,474 10,642 07/08/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 3 (GHC 50,000.00) 137,474 10,637 09/08/2018 Renowned Electrical Contractors Ltd - Low voltage network improvement works in Ashanti Region Ayigya Lot i (GHC 25,823.13) 137,474 5,493 09/08/2018 Sbinc Solution Limited - Low voltage network improvement works in Ashanti Region Abuakwa Lot 8 (GHC 30,000.00) 211,389 6,381 10/08/2018 Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 10 (GHC 50,000.00) 137,474 10,633 14/08/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 3 (GHC 17,167.55) 137,474 3,648 17/08/2018 Sbinc Solution Limited - Low voltage network improvement works in Ashanti Region Abuakwa Lot 8 (GHC 30,000.00) 139,797 6,361 17/08/2018 Kwamens Electrical Engineering- Low voltage network Improvement works in Ashanti Region Danyame Lot 11 (GHC 30,000.00) 150,179 6,361 27/08/2018 Kwamens Electrical Engineering- Low voltage network Improvement works in Ashanti Region Danyame Lot 11 (GHC 30,000.00) 211,389 6,355 03/09/2018 Sbinc Solution Limited - Low voltage network improvement works in Ashanti Region Abuakwa Lot 8 (GHC 147,552.25) 151,898 31,219 04/09/2018 Kwamens Electrical Engineering- Low voltage network Improvement works in Ashanti Region Danyame Lot 11 (GHC 72,149.52) 152,890 15,256 25/09/2018 Quanta Electrical Company - Low voltage network Improvement works in Ashanti Region Ayigya 5 (GHC 40,00.00) 16,332 8,384 26/09/2018 Boyka Engineering Limited- Low voltage network Improvement works in Ashanti Region Kwabre Lot 4 (GHC 50,000.00) 164,245 10,474 27/09/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 4 (GHC 60,000.00) 164,245 12,565 04/10/2018 Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 10 (GHC 50,000.00) 172,722 10,423 15 I l:t~ •• 10/10/2018 - - .. •• •• .. - .. Abuakwa Lot 10 (GHC 79,577.11) .. - .al Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region .. - .. - .. 173,492 16,580 P'l!!I 24/10/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 4 (GHC 30,000.00) 185,792 6,260 24/10/2018 Darex Construction & Electrical Ltd - Low voltage network Improvement works in Ashanti Region Suame Lot 8 (GHC 30,000.00) 185,895 6,260 24/10/2018 Glatricks Engineering Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 14 (GHC 20,000.00) 185,983 4,174 25/10/2018 Naskan Investment - Low voltage network improvement works in Ashanti Region Danyame Lot 10 (GHC 20,000.00) 185,768 4,174 01/11/2018 Naflin Consult Limited - Low voltage network improvement works in Ashanti Region Suame Lot 6 (GHC 316,901.46) 194,954 66,136 09/11/2018 Boyka Engineering Limited - Low voltage network Improvement works in Ashanti Region Kwabre Lot 4 (GHC 50,000.00) 202,767 10,435 12/11/2018 Electrical Solutions Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 2 (GHC 56,085.46) 202,306 11,705 13/11/2018 Odupon Electricals Company Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 24 (GHC 74,908.42) 201,483 15,635 15/11/2018 Komfather Electrical Co. Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 4 (GHC 33,321.70) 201,308 6,954 16/11/2018 Darex Construction & Electrical Ltd - Low voltage network Improvement works in Ashanti Region Suame Lot 8 (GHC 30,000.00) 233,022 6,261 16/11/2018 Darex Construction & Electrical Ltd - Low voltage network Improvement works in Ashanti Region Suame Lot 8 (GHC 30,000.00) 201,869 6,261 20/11/2018 Glatricks Engineering Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 14 (GHC 30,491.45) 232,983 6,362 06/12/2018 Darex Construction & Electrical Ltd - Low voltage network Improvement works in Ashanti Region Suame Lot 8 (GHC 22,484.89) 240,806 4,673 10/12/2018 Naskan Investment - Low voltage network improvement works In Ashanti Region Danyame lot 10 {GHC 20,000.00) 241,219 4,154 11/12/2018 Archives Limited - Low voltage network improvement works In Ashanti Region Kwabre Lot 3 (GHC 50,000.00) 252,722 10,381 19/12/2018 Fordkof Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region Manhyia Lot 2 {GHC 40,000.00) 243,337 8,298 19/12/2018 Osei Kwaku Afriyie Co. Ltd - Low voltage network Improvement works in Ashanti Region Danyame Lot 13 {GHC 30,000.00) 253,018 6,224 19/12/2018 Katech Engineering Works - Low voltage network improvement works in Ashanti Region Danyame Lot 20 {GHC 30,000.00) 250,274 6,224 16 I ··:1 .;. 19/12/2018 .,,.,. 8?,i,1'111.· .. - .. - - .. .. .. .. .. .. - .. .. ... .. Tower Rock Limited - Low voltage network improvement works in Ashanti Region Danyame Lot 19 (GHC 50,000.00) 252,893 10,373 19/12/2018 Adusi Electrical Engineering Ltd - Low voltage network Improvement works in Ashanti Region Abuakwa Lot 10 (GHC 79,577.11) 243,381 16,509 27/12/2018 Jewalk Company Limited - Low voltage network Improvement works in Ashanti Region Danyame Lot 22 (GHC 37,941.56) 243,319 7,869 31/12/2018 Dexter Engineering Limited - Low voltage network Improvement works In Ashanti Region Suame Lot 3 (GHC 30,000.00) 245,643 6,221 Sub-total 1,346,686 17 ra '2 1··.:• ·~- ,.,:c.:1 '.~ •.::;a ··• .,;,;;..:,a '<9 .;,,,a ,1-'llf • l ({~- '"'''.}lill . , .•, , . ·zr:~ a;;?;a -,;~\~ - -0·t:J• - ··i::y9 - ~ - ~ ···'-({?'. -t~ -r~-- - - ~ - - -:Ufc'"'9 - ···(•.,,. .. 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. 0011134404638703/702 attached to IDA 47300 held at Ecobank for the year ended 31st December 2018 Value Date Particulars Amount $ 01/01/2018 Balance as per bank statement and cash book. 5,077 Receipts Transfer from IDA-Application No. ECG/IDA/GEDAP Sub-Total Total receipts 5,077 Payments 31/12/2018 Total Payments 31/12/2018 Bank Charges Balance per bank statement and cash book 5,077 18 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 Amount $ 01/01/2018 Balance as per bank statement and cash book. 3,670,490 Receipts 27/02/2018 Transfer from !DA-Application No. ECG/IDA/GEDAPAFll03 169,315 15/05/2018 Transfer from !DA-Application No. ECG/IDA/GEDAPAFII04 85,290 Sub-Total 254,605 Total receipts 3,925,095 Payments 09/03/2018 Advance to Ministry of Energy 169,315 19/06/2018 Advance to Ministry of Energy 84,802 27/08/2018 Advance to Ministry of Energy 103,160 23/10/2018 Toyota Ghana Company Limited -for supply of project vehicles 690,907 26/10/2018 Fairgreen Limited - for supply of desktop and laptop computers and accessories 84,558 26/11/2018 Advance to Ministry of Energy 89,926 31/12/2018 Total Payments 1,222,668 31/12/2018 Bank Charges 1,344 31/12/2018 Balance per bank statement and cash book 2,701,083 19