We'll Stay Off as Politicians and Allow Experts Develop ECG Privatization Framework within 6-Months - Jinapor

Accra, Ghana - 13 Jan, 2025 - Ghana's Energy Minister-designate, John Abdulai Jinapor, has announced plans to establish a comprehensive framework for private sector participation in the Electricity Company of Ghana (ECG) within six months.

To achieve this, a seven-member committee will be formed to explore privatization options for the ECG, paving the way for increased efficiency and investment in the country's energy sector 

The move aims to address the struggling state-owned entity's longstanding challenges, including inefficiencies, financial losses, and growing debt.

Speaking during his vetting before Parliament's Appointments Committee on Monday, Jinapor emphasized the need for private sector participation to enhance ECG's financial and operational sustainability. He believes privatization could provide the necessary resources, expertise, and efficiency to turn around ECG's fortunes and improve electricity supply across the country.

The committee's primary task will be to examine and propose viable models for private-sector involvement. Jinapor outlined a non-partisan approach to the process, stressing the importance of neutrality and expertise in the committee's composition.

“We believe there should be private sector participation. What we intend to do is to form a seven-member committee, comprising technical experts, legal minds, financial analysts, industry players, and even a consumer representative,” he stated.

“We will stay off as politicians and let them develop a framework in a transparent, open, and frank manner. Once we get the buy-in of Ghanaians, we can proceed with a Request for Proposal (RFP) or competitive tender process. Our approach ensures we incorporate private sector expertise while safeguarding national interests.''

“My target is to push for six months, but I do not want to stampede the committee. However, give or take, within this year, we should complete the framework,'' added.

Source: Lead News Online