President-elect John Dramani Mahama has expressed concern over the current governance and operational inefficiencies at the Electricity Company of Ghana (ECG), citing alarming commercial and technical losses exceeding 32%.
Speaking on the pressing issues facing the energy sector, Mahama underscored that these unsustainable losses are significantly undermining the stability of the sector and pose a serious threat to Ghana’s broader economic health.
In his remarks, Mahama warned that unless immediate reforms are implemented, the energy sector’s persistent issues could derail progress made through the country’s debt exchange programme and its ongoing agreement with the International Monetary Fund (IMF).
He emphasized that the mounting losses at ECG risk exacerbating Ghana’s debt burden, potentially reversing the gains made in stabilizing the national economy.
“The energy sector has the potential to undo all the work we’ve done through the debt exchange and the IMF programme,” Mahama cautioned.
“Debt continues to accumulate, and ECG’s governance is currently in disarray, leading to losses that no utility company can sustain.”
Mahama further stressed that the sector’s financial troubles could threaten the viability of ECG itself if not addressed urgently, highlighting the need for comprehensive reforms across the entire electricity value chain.
“No utility company can survive with 32% technical and commercial losses and continue to be a viable entity,” he stated.
“As soon as possible, we must implement wide-ranging reforms to stabilize ECG and safeguard the country’s energy future.”
By: Shadrack Odame Agyare | Metrotvonline.com | Ghana
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