Ing. Edward Obeng-Kenzo, Acting CEO of Volta River Authority
The new Chief Executive Officer (CEO) of VRA, Engineer Obeng Kenzo, has embarked on a strategic mission to recover all debts owed to VRA.
This move is 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 remarkable that the CEO, Engineer Edward Obeng Kenzo, has been traveling in and out of the country, engaging both internal and external partners in efforts to recover all debts owed to VRA.
Since assuming office, Mr. Obeng Kenzo has stepped up efforts to promote operational growth aimed at strategically positioning VRA’s operations to help sustain energy production and meet the energy needs of the people of Ghana.
VRA is sincerely on a mission for growth, with a solid record of operational growth and profit earnings. It recorded a profit of GH¢110.893 million in 2022, based on the 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, up from GH¢4.199 billion 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 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 to see state agencies like VRA well-positioned to make a profit, which is an indication of good and quality leadership at the helm. This shows that when good leaders are placed 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 also a member of the Ghana Institution of Engineering.
Prior to his appointment to his current position, Obeng Kenzo served as the Director of Thermal Generation SBU, Plant Manager at the Tema Thermal Power Complex (TTPC), Operations Manager at TTPC, and Project Manager for the 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 efficiencies, ensuring VRA remains a market leader.
Departments: Hydro Generation, Engineering Services, Technical Services, Environment & Sustainable Development, Commercial Services, Thermal Generation, Strategic Projects, among others.