A self-acclaimed data hub on X (formerly Twitter) @Datanomics has alleged that the government of Ghana has collateralized GHC24bn worth of the Energy Sector Levy Act (ESLA) for a GHC6bn upfront loan.

The ESLA is a levy imposed on consumers in Ghana to help fund various initiatives and projects in the energy sector, including debt repayment, infrastructure development, and subsidies for fuel and electricity.

This claim was made on March 30, 2024, in response to a TV3 report stating that the government instructed the Electricity Company of Ghana (ECG) to generate one billion Ghana Cedis monthly to compensate energy sector stakeholders.

As per the tweet, the Electricity Company of Ghana (ECG) is facing a significant burden because the proceeds from the ESLA levy have reportedly been used as collateral for an upfront loan by the current government.

ESLA generates a substantial annual sum of Gh¢3.5 billion, which theoretically should be adequate to address various financial challenges coupled with its consequences , including the ongoing nationwide power outages (dumsor) being experienced.

The tweet reads, "ESLA accrues Gh¢3.5bn annually. From its 2015 introduction, the Akufo-Addo/Bawumia gov’t has raked in Gh¢24bn. Gov’t orders ECG to raise Gh¢1bn monthly to pay industry players.

This comes after they’ve mortgaged ESLA for a $1bn (Gh¢6bn) upfront loan. This dumsor is unforgivable!!"