The Chiefs and People of Bui in the Banda District of the Bono Region has installed Mr. Fred Oware, the Chief Executive Officer (CEO) of the Bui Power Authority (BPA), Managers of the Bui Dam as the Nkosuahene (Development Chief) of the area.
Oware was given the stool name ‘Oseadeeyo Semanhyia Oware Ababio I’ for his undying love for residents and his commitment towards the development of communities – Bator, Bui, Dokokyina, and resettlement areas around the 400 megawatts dam site.
Nana Kwadwo Wuo II, the Chief of Bui presented Mr. Oware with a traditional stool, regalia, and a citation at a ceremony held at Bui, and said the CEO deserved the honour for his commitment towards the socio-economic progress of residents.
Earlier, Mr. Oware handed over an ultra-modern Innovative Centre to provide Science and Technology education to the young people in the Dam’s catchment area.
He personally funded the establishment of the ‘Fred Oware Innovative Centre’ (FOIC) which is designed to afford pupils at the BPA Basic School an opportunity to undertake their ICT and science-related practical lessons in a more serene and advanced environment.
It has Robotic, Science and ICT laboratories, and Library, and would further offer assistance to the youth in the area to experience hands-on learning in creative development and technology.
Mr Oware, a financial expert with more than 40 years of working experience attended the University Of Ghana School Of Administration where he read Finance and Accounting after obtaining his ‘O’ level and ‘A’ level certificates from the Prempeh College and Apam Secondary School.
He spent a little over a decade at the Merchant Bank Ghana Limited in corporate finance, fund management, stockbroking, leasing, banking, and project management.
During this period, Mr. Oware was exposed to intensive training in the United States of America, the United Kingdom, Switzerland, Hong Kong and other places.
Between 1985 and 1995, he was one of the key players to revolutionize Ghana’s financial markets and offered pioneering roles either as the CEO or the Director in the establishment of the Ghana Stock Exchange, leasing market, discount houses/money markets and the promotion of the non-banking financial industry.
Mr Oware has held board-membership positions in several institutions including Ghana Airways, Ghana Leasing Company, the Ghana Stock Exchange, Media Commission, Ghana News Agency and others.
Other public service assignments that he has been part of include membership of the Chinery-Hesse Committee on Article 71 Office Holders’ Emolument and the President’s Investment Advisory Council.
As an entrepreneur, Mr. Oware has established and nurtured successful private investments in the print media, tourism and hospitality industries.
As the first CEO of the BPA, he was very instrumental in negotiating for the financial support for the Bui Hydro-electric Project and also leveraged on his vast experience in the corporate world to set up the structures/systems required for BPA’s efficient delivery of its mandate.
In May 2009, he was replaced as the CEO of the BPA but returned to that position in 2017, and his focus since then has been the diversification of the Authority’s operations to include the generation of other renewables and also demonstrate in clear terms the benefits of the Bui Hydro-electric Project to persons directly affected by its development.
Mr Oware’s resolve and passion to achieve that vision is unwavering, as his drive has resulted in the development of a mini hydro-power plant at Tsatsadu in the Volta Region and a 50MW solar project which is about 75 per cent complete, acquisition of another solar site at Yendi in the Northern Region.
He also spearheaded the implementation of a livelihood empowerment programme where business modules have been created for 816 Project Affected Persons (PAPs) who are being established to operate as independent business enterprises, the establishment of a scholarship scheme for needy but brilliant students, the offering of employment opportunities to qualified PAPs in the Dam’s operational area.
His unending love and dedication for the progress of others underpinned the establishment of the FOIC with his own resources to unearth the potential of the people within the Bui enclave.
Mr. Oware said he always believes that the best gift to humanity is the ability to unearth the potential of its race.