The Co-chair of the Ghana Extractive Industry Transparency Initiative, Dr. Steve Manteaw, has highlighted a significant revenue increase in the Electricity Company of Ghana (ECG).
According to him, the rise in revenue is directly linked to both private sector participation and the full deployment of digital infrastructure, marking a turning point for the energy sector’s financial health.
“Revenue collection has always been a challenge in the power distribution sector, but the recent private sector interventions have shown substantial performance in terms of revenue mobilisation,” Manteaw stated in an interview on Joy News’ PM Express on October 21.
He referenced ECG’s collaboration with companies like PDS which had previously piloted projects in areas such as Techiman and Dansoman, leading to improved revenue outcomes.
He expressed little surprise at the revenue surge, attributing it to previous efforts; “Anytime we’ve introduced private sector participation, especially in last-mile revenue assurance, we’ve seen significant jumps. What we’re witnessing now is a result of sustained efforts, aided by digital infrastructure.”
The digitalisation efforts rolled out in the past year played a pivotal role in the turnaround, with the revenue increasing from ¢700 million to ¢1.3 billion monthly, according to Dr Manteaw.
“The numbers speak for themselves. We’ve seen an additional ¢600 million in revenue, and even if you factor in 10% for operational costs, the added ¢60 million still justifies the partnership with the private entity,” he added.
Despite his ideological stance against privatisation, Dr Manteaw expressed optimism about the local involvement in ECG’s success, saying, “I’m anti-privatisation, but when it’s a Ghanaian entity leading the charge, I’m excited because whatever profits remain in the country, benefiting our economy.”