The chairman of the National Economic Dialogue, Dr. Ishmael Yamson, has strongly defended the partial privatisation of the Electricity Company of Ghana (ECG), stating that the state-owned power distributor will collapse if not privatised.
Speaking in an interview on TV3’s Hot Issues on March 9, 2025, Dr Yamson argued that the company as it is now crippled with financial mismanagement and inefficiencies will not be able to sustain.
“I am 100% in support of privatising the distribution of energy. Did you see the figures on revenue leakage alone? it won’t happen in any private company, you won’t survive,” he stated.
Ghana’s power sector has been hit with supply challenges, growing debt and financial challenges. While the government has proposed to include private sector participation in ECG’s operations, concerns have been raised about how efficient that could solve ECG’s challenges, especially following the botched Power Distribution Services (PDS) deal.
But Dr. Yamson believes privatization is the solution to ECG’s current mess. “If privatization is the answer then we should do and it is the answer,” he added.
“The private sector does not joke with its money. If you invest 10 cedis, you make sure every pesewa is accounted for. ECG, on the other hand, keeps losing revenue and blaming low tariffs instead of fixing its inefficiencies,” he observed.
He further cautioned that if ECG is not privatised to resolve its revenue challenges, ECG will suffer financial collapse.
“One day, ECG will come to a standstill. Nobody will lend them money, and they will simply collapse. If we don’t privatise now to plug the revenue leakages, we will pay the price later,” he cautioned.
Source:
3news.com
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