The Energy Minister John Abu Jinapor made things crystal clear about electricity companies during a press conference at the Presidency in Accra. He firmly stated they have zero plans to sell ECG or NEDCo after the Cabinet approved the 2025 Economy Policy and Budget. These power companies will stay under current ownership despite facing massive financial troubles across the energy sector.
Cabinet discovered the energy sector carries over GH¢80 billion in debt, yet ECG can only collect about GH¢8 billion from customers. Even if they grabbed every penny they're owed, they'd still face a GH¢70 billion shortfall, plus the debt keeps growing daily. The infrastructure has deteriorated badly, and what officials previously called excess capacity has shrunk dramatically, forcing them to plan for capacity increases right away.
Mr. Jinapor explained that they need around $700 million worth of liquid fuel because their gas supply falls short of requirements. He dismissed claims about ongoing load shedding as completely false, making the opposition's demand for a published schedule pointless. The country actually exports about 300 megawatts to neighboring nations like Burkina Faso and Benin, proving it has enough power despite running a fragile system.
ECG should collect over GH¢2 billion monthly but only manages to gather GH¢1.5 billion, creating a monthly shortfall of GH¢500 million or roughly GH¢6 billion yearly. The government plans to tackle these problems through partnerships focused on local content led by private sector participation. Officials believe this approach offers the best solution since it will happen through competitive, transparent processes giving priority to Ghanaian entrepreneurs and businesses.
Cabinet discovered the energy sector carries over GH¢80 billion in debt, yet ECG can only collect about GH¢8 billion from customers. Even if they grabbed every penny they're owed, they'd still face a GH¢70 billion shortfall, plus the debt keeps growing daily. The infrastructure has deteriorated badly, and what officials previously called excess capacity has shrunk dramatically, forcing them to plan for capacity increases right away.
Mr. Jinapor explained that they need around $700 million worth of liquid fuel because their gas supply falls short of requirements. He dismissed claims about ongoing load shedding as completely false, making the opposition's demand for a published schedule pointless. The country actually exports about 300 megawatts to neighboring nations like Burkina Faso and Benin, proving it has enough power despite running a fragile system.
ECG should collect over GH¢2 billion monthly but only manages to gather GH¢1.5 billion, creating a monthly shortfall of GH¢500 million or roughly GH¢6 billion yearly. The government plans to tackle these problems through partnerships focused on local content led by private sector participation. Officials believe this approach offers the best solution since it will happen through competitive, transparent processes giving priority to Ghanaian entrepreneurs and businesses.
