President John Dramani Mahama has announced the potential privatization of the Electricity Company of Ghana (ECG) as a strategy to address inefficiencies in the nation’s power distribution system.
During a meeting with a delegation from the World Bank on Wednesday, January 8, 2025, at his private office in Accra, Mahama outlined his administration’s commitment to improving the energy sector.
He argued that involving the private sector in ECG’s operations could enhance efficiency, resolve financial mismanagement, and ensure better service delivery to consumers.
“If we don’t fix the Electricity Company of Ghana, we will continue to have a major problem with our whole power value chain,” Mahama stated. “Going ahead with privatizing the last point of electricity distribution, bringing in private sector efficiency, is something that we want to take up again. We want to speak with the World Bank to get the expertise to be able to do that.”
Mahama reflected on Ghana’s engagement with the Millennium Challenge Corporation (MCC) Compact during his tenure as Vice President, which focused on enhancing energy sector efficiency. He emphasized that a modernized and sustainable energy distribution system is crucial for Ghana’s economic growth and development.
The President assured stakeholders that any decision to privatize ECG would be preceded by extensive consultations. The goal, he stressed, would be to balance public interest with the need for operational improvements.
“Decisions regarding ECG’s future will not be rushed. Stakeholder engagement will be key to ensuring that this move benefits the country as a whole,” Mahama added.
