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Felix Kwakye Ofosu, the Minister in charge of Government Communications, has made a startling revelation about the Electricity Company of Ghana’s (ECG) imprudent expenditure.
According to Kwakye Ofosu, the previous managers of the power distribution company engaged in transactions that have resulted in unnecessary costs. “Do you know that the ECG, as we speak, they have about 3000 containers sitting at the Tema Port. They have bought items that they will not require in the next 10 years, some of which will expire in 5 years. And because of that, they are attracting demurrage of GHC1.5b annually. Is that useful expenditure?” he questioned.
Kwakye Ofosu’s comments came during a discussion on the 2025 Budget Statement and Economic Policy, where the state of the economy was a major topic of debate. The new government has been critical of the previous administration’s handling of the economy, while the Minority in Parliament has accused the current government of manipulating figures to paint a bleak picture.
Kwakye Ofosu emphasized that the economy is indeed in a precarious state due to mismanagement by the previous administration. “Look at the level of indebtedness of state institutions. Look at the arrears. As of now, $67 billion is what has been verified. ECG alone, they have GHC68 billion on their books. How can you have a situation like that?” he queried.
He stressed that the economy is in terrible shape and urged against downplaying its severity. “Look, this economy is in terrible shape. Let no one try to water it down,” he asserted.
It’s worth noting that the Energy Minister, Hon. John Abdulai Jinapor, had previously inspected 2,500 uncleared ECG containers at the Tema Port, highlighting the need for improved resource management and inter-agency coordination.
Story by Lawrence Odoom/Phalonzy
