President John Mahama has indicated that government may soon revisit the plans to introduce private sector participation into the Electricity Value Chain.
According to the President, Ghana has already received favourable responses from the Works Bank and the IMF, which are currently holding discussions with a technical team from n the way forward.
In his opening remarks at a crunch meeting with Chief Executive Officers of Independent Power Producers today January 13,2025, President Mahama said it is important to open a new chapter in the sector.
“The bull in the China Shop, the stickman of the Powe Sector. You can’t run electricity utility and make 40% technical and commercial loses and continue to think that you have a viable business”.
He noted with concern that the continuous losses of ECG requires private participation for efficient and effective running of the company for the benefit is all.
” That’s why I have said that we are looking at introducing private sector participation. If you remember the Millennium Challenge Compact, we had agreed that in the last portion of distribution, billing and metering, we are going to introduce private sector participation” he emphasized
The meeting was attended by representatives from Sunun, Asogli, CEN Power, amongst others.
President Mahama before his closed door meeting intended to illicit first hand information he is ready to fix the problems but Ghanaians need to know the reality facing the nation.
” I thought that it was important that I meet you as President and tell you that I care about your concerns and why you are going through and to say that we’re going to work together with you to see how we can resolve the issues in the power Sector” he stressed
President Mahama emphasized the need for a holistic look at the whole power value chain
“The first issue is to deal with the issue of the whole power value chain. We must start from the downstream all the way upstream. And the next is to see how we bring more efficiency to your sector in terms of power so we can pass any benefit to the Ghanaian people” he expressed
