ECG Is Owed GHS5.7bn: MD Reveals SHOCKING Details

The Managing Director of the Electricity Company of Ghana (ECG), Samuel Dubik Mahama, has revealed that the company is owed GHS5.7 billion in debt.

He made this revelation on the Ghana Tonight show on TV3 on March 22, 2023.

The ECG has been intensifying its debt recovery exercise since March 20, 2023. As part of the exercise, the company has introduced a digitalized system to monitor the amount of money received from the debt recovery exercise.

According to Mr. Mahama, the ECG has been able to collect between GHS40 to GHS50 million daily since the exercise started. He added that the company would continue to intensify its efforts to collect the debts owed to it.

As part of the debt recovery exercise, the ECG has been disconnecting homes and industries over debts.

The company has also been visiting institutions such as Parliament, the Ghana Airport Company Limited (GACL), and the Ghana Broadcasting Corporation (GBC) to recover debts owed to it.

Speaking to journalists after the exercise on March 20, the External Communications Manager of ECG, Laila Abubakar, explained that the national task force is in charge of the state-owned enterprises, ministries, departments, and agencies.

She added that the task force had visited Parliament, where they were owed GHS13 million. Parliament had committed to paying GHS8.5 million, and evidence of payment was shown.

The task force also visited the Ghana Airport Company, which owed GHS28 million in arrears.

The company made an instant payment of GHS10 million when the task force arrived, and they were given 48 hours to make the full payment.

The Ghana Broadcasting Corporation also owed in arrears of about GHS6 million, but they explained that they wouldn’t be able to pay the full amount instantly due to the way they run their operations.

However, ECG’s point is that there has been no movement on the debt that is remaining.

In conclusion, the ECG’s debt recovery exercise is aimed at recouping the GHS5.7 billion owed to the company. The company has introduced a digitalized system to monitor the amount of money received from the debt recovery exercise.

It has also been disconnecting homes and industries over debts and visiting institutions to recover debts owed to it. The ECG is expected to report on a timely basis how much it has recouped from this exercise.