• Contact US
  • Advertise With US
  • Privacy & Policy
  • Submit Station
Sunday, August 17, 2025
Kumasi Mail
Advertisement
  • Home
  • News
    • All
    • Education
    • Health
    • Manhyia
    MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

    MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

    Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

    Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

    Reject all incumbent NPP executives seeking re-election-Butey to delegates

    NPP grants general amnesty to suspended members, reaffirms commitment to unity

    Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

    Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

    Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

    Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

    Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

    Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

    Justice Torkornoo files injunction against petitions seeking her removal

    Reinstate suspended CJ immediately, give her fair hearing – Commonwealth lawyers

    Gov’t imposes daily fine on DSTV over failure to submit pricing data

    Gov’t imposes daily fine on DSTV over failure to submit pricing data

    Deputy Defence Minister pays emotional tribute to late Dr. Omane Boamah

    Deputy Defence Minister pays emotional tribute to late Dr. Omane Boamah

    • Health
    • Education
  • Election 2024
  • Politics
  • Business
  • Showbiz
  • Opinion
  • Sports
  • World
  • Media
  • Manhyia
  • History
No Result
View All Result
  • Home
  • News
    • All
    • Education
    • Health
    • Manhyia
    MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

    MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

    Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

    Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

    Reject all incumbent NPP executives seeking re-election-Butey to delegates

    NPP grants general amnesty to suspended members, reaffirms commitment to unity

    Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

    Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

    Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

    Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

    Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

    Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

    Justice Torkornoo files injunction against petitions seeking her removal

    Reinstate suspended CJ immediately, give her fair hearing – Commonwealth lawyers

    Gov’t imposes daily fine on DSTV over failure to submit pricing data

    Gov’t imposes daily fine on DSTV over failure to submit pricing data

    Deputy Defence Minister pays emotional tribute to late Dr. Omane Boamah

    Deputy Defence Minister pays emotional tribute to late Dr. Omane Boamah

    • Health
    • Education
  • Election 2024
  • Politics
  • Business
  • Showbiz
  • Opinion
  • Sports
  • World
  • Media
  • Manhyia
  • History
No Result
View All Result
Kumasi Mail
No Result
View All Result
  • Home
  • News
  • Election 2024
  • Politics
  • Business
  • Showbiz
  • Opinion
  • Sports
  • World
  • Media
  • Manhyia
  • History
Home Business

ACEP warns of impending financial crisis in Ghana’s power sector

Kumasi Mail by Kumasi Mail
October 9, 2024
in Business
0
ACEP highlights financial unstainability challenges in Ghana’s power sector
Share on FacebookShare on Twitter

The Africa Centre for Energy Policy (ACEP) has raised an alarm over the looming financial crisis in Ghana’s power sector, which experts believe could plunge the country into another debt crisis if not addressed promptly.

Speaking at a media capacity-building workshop in Kumasi, Kodzo Yaotse, Lead for Petroleum and Conventional Energy at ACEP, warned that the financial challenges facing the power sector are akin to a “ticking time bomb.

” According to Yaotse, the sector’s issues could soon exacerbate the country’s already precarious debt sustainability, risking further financial instability.

“The power sector’s financial troubles are not far off from pushing Ghana into another debt crisis,” Yaotse said, highlighting the sharp rise in sector debts. “If we do not act quickly, the situation will worsen, and we’ll have to sacrifice critical social investments just to keep the lights on.”

He criticized the Electricity Company of Ghana (ECG) for its poor financial management, stating that the company’s inability to properly account for its revenues and make payments within the cash waterfall mechanism is a key factor driving the financial strain.

He emphasized the need for urgent reforms to improve the efficiency and transparency of ECG operations.

“In the short to medium term, ECG must be held accountable for the revenue it collects. It’s not enough to say ECG will generate accounts; there must be proper financial oversight to ensure payments are made according to the prescribed system,” Yaotse added.

He also revisited long-standing discussions about the role of the private sector in improving ECG’s operational efficiency.

While clarifying that the aim is not to privatize ECG, Yaotse stressed the importance of private sector involvement in managing ECG’s assets and infrastructure under strict regulatory oversight.

“ECG remains a strategic asset to Ghana, but the way it is managed does not reflect best practices seen in power industries elsewhere in the world. We need to consider a more robust role for the private sector in managing the company’s operations,” he remarked.

Yaotse proposed a financial restructuring model that involves leveraging local pension funds and other patient capital to finance the sector’s growing needs. He acknowledged that these funds have been affected by recent debt exchange programs but suggested that with proper innovation, they could be directed towards stabilizing the power sector.

“The pension funds have patient capital that can be invested in this sector. We need to create the right framework for them to become partners in resolving these challenges,” he noted.

The workshop also addressed the growing tension between ECG and its regulator, the Public Utilities Regulatory Commission (PURC).

Yaotse lamented that the current system of “government regulating government” has rendered the PURC toothless in holding ECG accountable, with constant back-and-forth conflicts undermining the regulatory framework.

“The current arrangement, where the regulator is essentially another government entity, is problematic. This setup weakens the ability of the PURC to enforce its mandate, and the ongoing power struggles between ECG and its regulator are a reflection of that dysfunction,” Yaotse observed.

The media workshop aimed to equip journalists with the knowledge to advocate for financial sustainability in the power sector, focusing on the critical role of accountability and transparency in averting a full-blown crisis.

Source: www.kumasimail.com/IJB/Kumasi

Tags: Africa Centre for Energy PolicyKodzo Yaotsetopstory
ShareTweetSend
Previous Post

Ghana’s Health sector urgently needs cybersecurity boost – experts warn

Next Post

GFA President Kurt Okraku blasts Black Stars over poor performances

YOU MAY LIKE

Alex Nartey Esq. Condemns rift between NIA-GRA, calls for swift presidential intervention
Business

Alex Nartey Esq. Condemns rift between NIA-GRA, calls for swift presidential intervention

Haruna Named Fintech CEO of the Year for Driving Innovation at Mobile Money LTD
Business

Haruna Named Fintech CEO of the Year for Driving Innovation at Mobile Money LTD

Strong Cedi Keeps Ghana Cocoa Prices Steady Despite Global Gains- COCOBOD CEO
Business

Strong Cedi Keeps Ghana Cocoa Prices Steady Despite Global Gains- COCOBOD CEO

Regulatory action against DStv set for August 7 – Sam George affirms
Business

Regulatory action against DStv set for August 7 – Sam George affirms

Cocoa handlers demand wage increase, plan strike over unfair pay
Business

Gov’t increases Cocoa producer price to $5,040 per tonne for 2025/2026 Season — Ato Forson Announces

Next Post
GFA President Kurt Okraku blasts Black Stars over poor performances

GFA President Kurt Okraku blasts Black Stars over poor performances

Video: NAPO needs prayers for accusing imams, Pastors and NDC for promoting LGBTQ+ in schools –Prof Jane Naana

Video: NAPO needs prayers for accusing imams, Pastors and NDC for promoting LGBTQ+ in schools –Prof Jane Naana

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LATEST NEWS

MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

Ashanti NPP group alleges Kennedy Agyapong demanded GH¢5m From Dr. Bawumia to support 2024 campaign

Ashanti NPP group alleges Kennedy Agyapong demanded GH¢5m From Dr. Bawumia to support 2024 campaign

Reject all incumbent NPP executives seeking re-election-Butey to delegates

NPP grants general amnesty to suspended members, reaffirms commitment to unity

Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

Kennedy Agyapong Urges National Unity to Procure Safe Presidential and Airforce Aircraft Following Tragic Helicopter Crash

Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

Abronye DC Alleges Former Ghana High Commissioner to India Hates Dr. Bawumia Over Exposed Corruption

Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

Ghanaians Didn’t Want Bawumia as NPP Flagbearer- H.E Asomah Cheremeh

Justice Torkornoo files injunction against petitions seeking her removal

Reinstate suspended CJ immediately, give her fair hearing – Commonwealth lawyers

Gov’t imposes daily fine on DSTV over failure to submit pricing data

Gov’t imposes daily fine on DSTV over failure to submit pricing data

Deputy Defence Minister pays emotional tribute to late Dr. Omane Boamah

Deputy Defence Minister pays emotional tribute to late Dr. Omane Boamah

  • Trending
  • Comments
  • Latest
52-Year-old man arrested in Nsawam for possessing suspected EC Biometric Device

52-Year-old man arrested in Nsawam for possessing suspected EC Biometric Device

Ghana Airforce Z-9 Helicopter Goes Missing en Route to Obuasi, Rescue Efforts Underway

Ghana Airforce Z-9 Helicopter Goes Missing en Route to Obuasi, Rescue Efforts Underway

Asokore Mamponhene Nana Boakye Ansah passes away

Asokore Mamponhene Nana Boakye Ansah passes away

EPA CEO calls for Immediate action to restore polluted water bodies in Ashanti region

EPA CEO calls for Immediate action to restore polluted water bodies in Ashanti region

Hello world!

1
NCA promises lower data prices by year-end

NCA promises lower data prices by year-end

1
COVID-19: Information Ministry justifies GHC150K spent on staff

COVID-19: Information Ministry justifies GHC150K spent on staff

1
EC to conduct mop-up registration August 1-3

EC to conduct mop-up registration August 1-3

1
MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

MTN Ghana CFO Urges Students to Lead, Prepare and Persevere at Youth Summit

Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

Antoinette Kwofie Urges Young People to Dream Big at Tamale Youth Empowerment Summit

Ashanti NPP group alleges Kennedy Agyapong demanded GH¢5m From Dr. Bawumia to support 2024 campaign

Ashanti NPP group alleges Kennedy Agyapong demanded GH¢5m From Dr. Bawumia to support 2024 campaign

Reject all incumbent NPP executives seeking re-election-Butey to delegates

NPP grants general amnesty to suspended members, reaffirms commitment to unity

Facebook Twitter Youtube Instagram
Kumasi Mail

About US

Advertise With US

Submit Station

© 2024 KumasiMail.com