The Chairman of the Board of the Electricity Company of Ghana (ECG), Alexander Afenyo-Markin, has rejected demands for the dissolution of the company’s board, describing them as unjustified and misplaced.
These calls, led by the Africa Centre for Energy Policy (ACEP), have centered around allegations of mismanagement and escalating financial losses within the state utility provider.
ACEP claims that ECG’s revenue losses surged from GH¢295 million in 2017 to a staggering GH¢9.7 billion by 2022, attributing the situation to inefficiencies in the company’s management.
In response to these concerns, ACEP has advocated for the removal of the ECG board as a necessary step to rectify the company’s worsening financial condition.
The organization argues that the leadership’s inability to curb the ballooning losses suggests a failure of governance that could only be remedied through significant changes at the top.
However, during the recent appointment of David Asamoah as ECG’s acting Managing Director, Afenyo-Markin emphasized that dissolving the board was not a viable solution to the challenges facing the company.
Instead, Afenyo-Markin advocated for greater stakeholder engagement and collaborative reforms to enhance ECG’s operations.
“I think that is a misplaced position,” he stated.
“We must place our shoulders to the wheel for reforms… ECG can be very efficient if we subject ourselves to reforms… involving engaging all stakeholders internally and communicating these to external stakeholders.”
He concluded by warning against a “blame game” approach, insisting that teamwork within the sector would better address the company’s issues than dismissing the board.
