In a bid to revamp the country’s ailing energy sector, the Minister of Energy and Green Transition, John Jinapor, has inaugurated a seven-member technical committee to spearhead the privatisation of the Electricity Company of Ghana (ECG). The committee, comprising energy experts and key stakeholders, has been tasked with devising a comprehensive plan to transition ECG to private sector management within a month.
The move is aimed at improving operational efficiency and service delivery, which have been longstanding challenges for the state-owned electricity distributor. Speaking to the media after the committee’s inauguration, Mr Jinapor assured the nation that the government has no intention of selling ECG outright, but rather seeks to involve the private sector in its management. “We want this to be done in a transparent, effective, and responsible way,” he stated.
The committee’s mandate includes consulting extensively with all relevant stakeholders, including workers, staff, unions, consumers, and other interested parties. This inclusive approach is designed to ensure that the privatisation process is transparent and accountable. Mr Jinapor underscored the urgency of the task, warning that the energy sector is “bleeding” and requires swift action to prevent collapse.
The technical committee’s findings and recommendations are expected to chart a new path for ECG’s management, addressing inefficiencies and ensuring reliable power distribution across the country. Energy experts have welcomed the move, citing the potential benefits of private sector participation in improving operational efficiency and reducing debt.
Dr. Theo Acheampong, a petroleum economist, noted that privatisation could lead to the introduction of advanced technologies, streamlining of processes, and improved billing accuracy. However, he cautioned that the process must be transparent and accountable to prevent vested interests from exploiting the system.
The Ghanaian government’s decision to privatise ECG is part of a broader effort to reform the energy sector and address its financial challenges. The energy sector debt currently stands at over US$3 billion, with ECG’s debt to Independent Power Producers (IPPs) alone amounting to US$1.82 billion.
As the technical committee begins its work, stakeholders are eagerly awaiting the outcome. The privatisation of ECG is expected to have far-reaching implications for the energy sector, and the government’s commitment to transparency and accountability will be crucial in ensuring a successful outcome.
In the coming weeks, the committee’s progress will be closely monitored, and its recommendations will be eagerly anticipated. As Ghana takes this major step towards energy sector reform, the nation remains hopeful that the privatisation of ECG will mark the beginning of a new era of efficiency, reliability, and sustainability in the energy sector.
The success of the privatisation process will depend on the government’s ability to balance the need for private sector participation with the need for transparency, accountability, and social responsibility. As the nation looks to the future, one thing is clear: the privatisation of ECG is a critical step towards reforming the energy sector and ensuring a brighter future for generations to come.
Source: Africa Publicity
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