ECG will not be sold - Mahama insists

ECG will not be sold - Mahama insists

President John Dramani Mahama has reiterated that the Electricity Company of Ghana (ECG) would not be privatized.

According to Mahama, “government has no intention of privatising ECG… the agreement under the Millennium Challenge Compact is to leverage private sector participation at the client level to assist in resolving client complaints and revenue collection”. President Mahama in his Worker’s Day speech also assured staff of the electricity distributor that their jobs are safe and they would not be sacked as has been reported in sections of the media.

Meanwhile government is considering a concession option for the ECG by the middle of this year of which the state would enter into a long-term contract: 20 – 30 years with the private partner, where the private partner would have the exclusive right to operate, maintain and carry out investments in ECG for a defined number of years.

READ ALSO: BNI rumoured to be searching for producer of “terrorist” movieThe private partner would have the responsibility for the operation and maintenance of all assets and investment during the period.The state would retain full ownership of ECG as the asset holding company; at the end of the concession period, control of ECG reverts to the state unless the central bank decides to extend or re-tender the concession.

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