In a significant move to address Ghana’s longstanding power distribution challenges, President John Dramani Mahama has hinted at the potential privatization of the Electricity Company of Ghana (ECG). Apexnewsgh reports
During a meeting with a World Bank delegation at his private office in Accra, Mahama emphasized the need for private sector involvement to tackle operational inefficiencies, financial mismanagement, and poor service delivery within ECG.
Mahama stressed that reforms are urgent, warning that failure to address the issues plaguing ECG would lead to major problems across the entire power value chain. He believes that privatizing ECG’s distribution operations could introduce the efficiency required to modernize the energy sector and meet Ghana’s increasing energy demands.
The President’s proposal is not entirely new, as Ghana has previously engaged with the Millennium Challenge Corporation (MCC) Compact, which highlighted the importance of an efficient energy distribution system in driving national development goals. Mahama reassured stakeholders that any decision to privatize ECG would be approached cautiously, with extensive consultations to balance public interest and the sector’s need for improved performance.
Mahama expressed his desire to engage with the World Bank, leveraging their expertise in implementing this initiative.
This move is expected to be a key aspect of his administration’s efforts to transform Ghana’s energy sector, building on his previous experience in managing energy crises and spearheading infrastructure development.
Source: Apexnewsgh.com
