Former Managing Director of the Electricity Company of Ghana (ECG), Samuel Dubik Mahama, has emphasized that private sector involvement already exists within ECG's operations, specifically at the metering level.

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Speaking on Channel One TV's 'The Point of View' with Bernard Avle, Mahama questioned the necessity for further privatization, noting that significant progress has been made during his tenure.

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“I do admit that there are a few inefficiencies in the company, and in the same way, there are a few efficiencies. Now before you do any private sector privatization, what are the benchmarks? Let’s not forget there is already private sector participation in ECG," Mahama stated.

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He highlighted a loss reduction initiative under which ECG collaborated with seven local metering companies, eliminating the need for large capital expenditure on meter procurement.

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Mahama further explained, “What we then did was to give them a locality to install their meters. And that is private sector participation. If you do the math very well, you realise that it saved us a lot. More than almost 50% in how much you now have to borrow and all those administrative costs.”

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Addressing broader financial challenges facing ECG, Mahama pointed to foreign exchange constraints. “The first one is forex… you buy the electricity in dollars and you come to sell it in cedis. And you go and look for requisite dollars to go and pay,” he said.

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He raised concerns about the sustainability of the current model, particularly the capacity to secure sufficient foreign exchange to pay Independent Power Producers (IPPs).

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