Ben Boakye, Executive Director of the Africa Centre for Energy Policy, accused politicians and their allies of profiting from procurement practices at the Electricity Company of Ghana (ECG) during a JoyNews’ Newsfile interview on Saturday, September 12.
Boakye said ECG’s financial troubles stem not only from technical and commercial losses but also from inefficiencies and alleged abuses in procurement. He described the state‑owned power distributor as part of the “spoils of election,” adding that when politicians appoint managers, they “share the business, they share the money.”
According to Boakye, some items purchased by ECG cost far more than their market value. He cited an example where an item that could be bought for one cedi on the open market was procured by ECG for an average of seven cedis, attributing the price gap to procurement problems and sole sourcing. He further claimed that private companies already play significant roles in ECG’s operations, collecting revenue and performing maintenance, and that some of these firms have become richer than ECG itself because of the contracts they receive.
Boakye rejected the notion that the government alone bears ECG’s financial burden, arguing that consumers already pay for inefficiencies through higher tariffs. He said any meaningful reform must go beyond ownership debates and tackle procurement, expenditure and the broader network of interests surrounding the utility.
He concluded that ECG’s challenges are a form of “chronic capitalism” operating around a state‑owned company and urged a frank, intentional approach to address the problems in the sector.
