13 February 2018: Compagnie Ivoirienne d’Électricité (CIE), the power production subsidiary of Eranove, a leading West African energy and utility company and an Emerging Capital Partners’ (ECP) investee company, has strengthened its cooperation with the Electricity Company of Ghana (ECG) following a recent 48-hour working visit.
CIE’s thriving economic model, which has a long-term AA + financial rating with a positive outlook and a stable outlook in the short term with an A1 + rating, served as a role model to the ECG who looked to draw inspiration from its electrical power distribution offering. Ghana already benefits from this export but equally has regional ambitions in the power sector, aiming to become a hub. During the visit, ECG sought to learn lessons from CIE’s well-established practices, from the organisation of its energy distribution operations to its managerial policy that has been specifically adapted to the modern, Africa model. Indeed, ECP has worked with Eranove to promote a decentralised, African-led management model across its subsidiaries, including CIE, that fosters ownership and accountability.
Hurley Doddy, Co-CEO, ECP, has since commented on the visit that, “It is encouraging to see ECP’s investments fuel the growth of energy production companies that are now leaders in their sector and to see them make important steps towards fostering cross-country collaboration to fill Africa’s power gap.”
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