Energy Minister Reveals ECG’s Massive Financial Burden
The Electricity Company of Ghana (ECG) is in deep financial trouble, owing a staggering GH¢67 billion to contractors as of March 2025, according to Energy Minister John Abdulai Jinapor. He shared this alarming figure during a meeting with Parliament’s Energy Committee, highlighting the company’s struggle to manage its debts.
The debt includes unpaid bills to independent power producers and suppliers, worsened by past mismanagement and unapproved purchases. A government report revealed that ECG overspent its 2023 budget by GH¢7.3 billion, mainly on cables bought without proper approval, adding to the financial mess.
Jinapor also pointed out that Ghana Water Company hasn’t paid ECG for electricity in seven months, further straining the company’s finances. The minister insisted that ECG must collect these dues to avoid relying on taxpayer money to cover losses.
To tackle the crisis, Jinapor has cut ECG’s budget by 50%, from GH¢500 million to GH¢250 million, to prioritize paying power producers. He also vowed to reform ECG’s procurement process to prevent future overspending and ensure better financial management.
The minister’s disclosures come amid ongoing investigations into missing ECG containers, with over 1,300 unaccounted for, adding to the company’s challenges. Jinapor promised swift action to hold those responsible accountable and stabilize Ghana’s energy sector.