Energy Minister Raises Alarm Over ECG’s GHS 567 Million Revenue Discrepancy

Ghana’s Minister of Energy and Green Transition, John Abdulai Jinapor, has expressed deep concerns over financial irregularities in the Electricity Company of Ghana’s (ECG) latest financial report for January 2025.

His concerns follow an audit by PricewaterhouseCoopers (PwC), which uncovered a staggering GHS 567 million revenue shortfall for the period between October and December 2023.

Speaking on TV3, Jinapor alleged that ECG under-reported cash collected from customers. He revealed that although the company collected GHS 1.5 billion, it only declared GHS 1 billion—an apparent violation of the cash waterfall mechanism policy.

“ECG collects approximately GHS 1.5 billion, yet GHS 500 million remains unaccounted for, which is a breach of the policy,” he stated.

Jinapor also highlighted the impact of various deductions, including charges from banks and payment platforms, which further reduce ECG’s available financial resources.

He stressed the importance of ECG adhering to proper financial procedures by depositing all collected funds into a holding account, allowing the cash waterfall mechanism committee to distribute them accordingly. Failure to comply, he warned, could affect ECG’s ability to meet statutory payments, settle levies, and compensate power generators.