The Electricity Company of Ghana ECG will soon be compelled to install prepaid meters across the country to reduce inefficiencies in the system and revenue losses bedeviling its operations.
The power distributor is estimated to lose between 30 and 40 percent of expected revenue from the power it distributes, according to the World Bank, leading to huge debts that have hampered its operations over the years.
Speaking at the launch of the Direct Savings and Loans Company in Accra, the Vice President, Dr. Mahamudu Bawumia, indicated that financial institutions are carrying large debts on their books from the energy sector, arising largely from the failure of the ECG to recover costs for power consumed and the time may be right to take some radical but essential measures to resolve it.

Extra! Extra!

Get news delivered right to your inbox.

We will never share your email or spam you.