November 03, (THEWILL) – Future Energies Africa (FEA) Limited has completed the acquisition of Kano Electricity Distribution Company (KEDCO) as its new core investor.
The firm announced the takeover on Tuesday, in a statement signed by its Head, Corporate Communications, Sani Bala Sani.
KEDCO distributes electricity to Kano, Katsina and Jigawa States.
The statement read: “Management is pleased to announce that Future Energies Africa (FEA) Limited has completed the acquisition of KEDCO as its new core investor, inaugurated its Board of Directors and reappointed Ahmed Dangana as the Managing Director/CEO.
“The new Board, led by its Chairman, Engr. Adamu Ibrahim Gumel, arrived at the KEDCO headquarters today, Tuesday 2nd November 2023, to complete the takeover process and familiarization with the management and staff.
“The Board Chairman while addressing staff, shared his vision of making KEDCO one of the leading DisCos in the Country. He also hinted at plans to address challenges faced by KEDCO through creating a modernized electricity distribution system that will enhance service delivery, create a friendly customer atmosphere and reduce ATC&C losses for improved operational efficiency.
“He also assured staff of the security of their jobs and pledged commitment to staff welfare and working conditions, while urging all on continued commitment and hard work towards achieving the renewed vision.
“Members of the Board include Engr. Adamu Ibrahim Gumel (Chairman); other directors are Habib Ahmed Daura, Shehu Malami Sabo, Hillary Dukor, Kingsley Ohiri, Alex Okoh (DG BPE) represented by Amaechi C. Aloke as an alternate on the Board, and Ahmed Dangana, MD/CEO. Management is optimistic that the Board will bring their wealth of experience in modernising operations and steering KEDCO to achieving its full potential.”
About the Author
