Over GHC400m Missing in ECG’s Monthly Revenue – Jinapor
Energy Minister-Designate Highlights Revenue Leakages and Efficiency Concerns at ECG
- John Jinapor, the Energy Minister-designate, has raised alarm over significant revenue leakage within the ECG
- Jinapor revealed that while ECG generates approximately GHC1.3 billion in monthly revenue
- Jinapor emphasized the need for enhanced efficiency at the company
John Jinapor, the Energy Minister-designate, has raised alarm over significant revenue leakage within the Electricity Company of Ghana (ECG).
During his vetting by Parliament’s Appointments Committee on January 13, 2025, Jinapor revealed that while ECG generates approximately GHC1.3 billion in monthly revenue, only between GHC850 million and GHC900 million is properly allocated to the cash waterfall mechanism, leaving nearly GHC400 million unaccounted for.
Jinapor attributed this issue to multiple contracts signed by ECG, which he said have contributed to inefficiencies.
He also highlighted the presence of 2,500 containers currently stuck at the ports, further complicating the situation.
“The main problem with ECG is not just about collection or how they administer the funds. They collect around GHC1.3 billion every month, but only GHC850 million to GHC900 million goes into the cash waterfall mechanism, meaning that almost GHC400 million is not accounted for,” Jinapor explained.
He further noted that ECG’s signing of contracts worth GHC9 billion has led to a situation where containers sit idle at the ports, accumulating a demurrage cost of GHC1.2 billion.
Jinapor emphasized the need for enhanced efficiency at the company to ensure better adherence to the cash waterfall mechanism and address the financial gaps.
