Hubtel refutes $25 million payment claim from ECG project

Oct 1, 2024 - 23:48

Accra, Ghana - Hubtel has responded to recent claims made by civil society organizations (CSOs) regarding its work with the Electricity Company of Ghana (ECG), denying allegations that it received a $25 million payment.

According to Hubtel, the amount was merely a cost limit set by the ECG Board at the project's inception.

In a statement released on Monday September 30, 2024, Hubtel asserted that the false claims are an attempt to discredit its achievements in boosting ECG's revenue collection and commercial operations.

Clarifying the financial aspects, Hubtel revealed that only $12 million (approximately GH¢171 million) has been utilized to overhaul ECG's outdated systems as part of the project. This disclosure aims to set the record straight and alleviate concerns surrounding the project's finances.

Hubtel's collaboration with ECG dates back to 2007, and the company has been instrumental in plugging payment processing leakages and growing monthly revenues.

Find the full statement below.