Samson Addea has voiced strong support for the government’s initiative to introduce private sector participation in the Electricity Company of Ghana (ECG), asserting that the move could significantly stabilize power delivery and benefit the country as a whole.
Speaking on Nyankonton Mu Nsem, Mr. Addea highlighted that Ghana’s recurring financial reliance on the International Monetary Fund (IMF) is deeply linked to the power utility’s heavy debt burden and persistent operational inefficiencies.
While the government has clarified that it is not pursuing a full sale of ECG, it is actively exploring public-private partnerships and concession models designed to curb losses and streamline operations.
Supporting this strategy, Mr. Addea argued that even if full privatization is off the table, introducing private expertise and capital into specific segments of the company would still go a long way toward resolving the nation’s energy crises.
”The ECG has consistently made losses and the decision to allow private sector participation had been on the table for a very long time. I think the private sector participation was crucial and I believe we have to support it. If a state-owned enterprise like ECG cannot make profits, it should also not make losses. If you examine the policy coordination instrument we had signed with the International Monetary Fund (IMF), we have been advised to put measures in place that will prevent us from coming to them again for the 19th time. We go to the IMF for $3 billion and yet when you evaluate the losses of ECG, it’s around $3 billion, meaning it is a major source of causing losses for the state. And that is why the privatisation of some aspects has been proposed. It will be to our own benefit if we achieve that.”
By: Rainbowradioonline.com/Ghana
