President-elect of the repblic of Ghana, John Dramani Mahama has raised concerns about the current governance at the Electricity Company of Ghana (ECG), particularly regarding its high level of commercial and technical losses, which exceed 32%.
He argued that these unsustainable losses are severely damaging the sector and must be addressed immediately to secure the country’s energy future.
Mahama warned that failure to tackle these challenges could undermine progress achieved through the debt exchange programme and the ongoing International Monetary Fund (IMF) agreement.
He emphasised the urgency of reforming the ECG to ensure the sector’s stability and prevent any adverse impact on the nation’s broader financial commitments.
“The energy sector can derail everything that we have done with regard to the debt exchange and with regards to the IMF programme because debt continues to pile up there. ECG’s governance is in a very bad way and so they are making commercial and technical losses of more than 32 per cent.”
“No utility company can survive with 32% of technical and commercial losses and continue to be a viable utility.. so as quickly as possible we need to do reforms in the whole electricity value change.”
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