The Ghanaian government, with support from the World Bank, is set to acquire one million modern meters to improve revenue collection and expand access to electricity across the country.

Minister-designate of Finance, Dr. Mohammed Amin Adam, made this announcement during a fireside chat at the ongoing World Bank Group/International Monetary Fund (WBG/IMF) Spring Meetings in Washington, USA.

The procurement of these new meters is part of a broader strategy to boost revenue collection, enhance operational efficiency in the electricity value chain, and address persistent challenges in the sector.

In a related development, Mr. Sam Dubik Mahama, Managing Director of the Electricity Company of Ghana (ECG), emphasized the importance of consumers promptly settling their bills to improve the company's operational efficiency.

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The Programme-for-Result financing instruments of the World Bank represent an innovative approach to strengthening institutions, building capacities, and enhancing partnerships.

This approach links the disbursement of funds directly to the achievement of specific, measurable outcomes.

The Minister highlighted that Ghana currently has about seven different types of meters that are not compatible with each other.

The new partnership with the World Bank aims to procure meters that will harmonize the system, improving efficiency and effectiveness in the country's electricity sector.

“We want to be able to harmonise and standardise our metering system, and under the PforR the World Bank is supporting us to procure one million standardised meters that would help in improving on the collection,” he said.

He expressed confidence in the Programme-for-Result (PforR) scheme also aiding Ghana in achieving universal electricity access by the end of 2024, and bridging the energy sector financing gap of approximately US$1.9 billion.

Currently, the country has achieved 88.85 percent electricity access, slightly below the 90 percent industry standard, which is a key goal of the Sustainable Development Goals (SDGs).

SDG seven aims to ensure access to affordable, reliable, and sustainable energy for all, with the African Development Bank (AfDB) estimating that around 90 million people should be connected to electricity annually by 2030.

The World Bank and AfDB have collaborated to reach approximately 300 million Africans, including Ghanaians, with electricity by 2030 through distributed renewable energy systems and grids. This initiative aims to connect the 600 million Africans currently lacking access to electricity, addressing significant barriers to healthcare, education, productivity, digital inclusivity, and job creation.

To support this effort, the World Bank, through its concessional arm for low-income countries, the International Development Association (IDA), plans to invest up to US$35 billion, as announced by Mr. Ajay Banga, the Bank’s President.

“We at the African Development Bank will make sure that we’re able to provide 50 million [people] access [to electricity] by 2030,” said, Dr Akinwumi Adesina, AfDB Group President.