The Electricity Company of Ghana is likely to be privatised imminently following the numerous challenges it has faced over the years.
President John Dramani Mahama announced on Wednesday, January 8, during an interaction with a delegation from the World Bank at his private office in Accra.
During the meeting, President John Dramani Mahama indicated the possibility of privatizing the Electricity Company of Ghana (ECG) as part of efforts to address inefficiencies in the country’s power distribution system.
President Mahama believes that involving the private sector in managing ECG could help resolve the longstanding challenges being experienced by the company including operational inefficiencies, financial mismanagement, and inadequate service delivery.
Mr. Mahama, “If we don’t fix the Electricity Company of Ghana, we will continue to have a major problem with our whole power value chain. So, going ahead with privatising the last point of electricity distribution, bringing in private sector efficiency is something we want to take up again. We want to speak with the World Bank to get the expertise to be able to do that.”
Mahama also assured stakeholders that decisions regarding ECG’s future would involve thorough consultations to balance public interest with the need for improved performance.
Reflecting on Ghana’s participation in the Millennium Challenge Corporation (MCC) Compact during his tenure as Vice President, Mahama emphasized the importance of efficient energy distribution in achieving the nation’s development goals.
According to him, any move towards privatization would focus on ensuring a sustainable energy sector capable of meeting the growing demands of Ghana’s economy.
