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      Ghana needs GHS6bn to employ 74k unemployed health workers – Akandoh

      Health minister accuses LHIMS contractors of blackmail, unveils new digital system

      49-year-old fisherman arrested for allegedly defiling 13-year-old girl at Mumford

      Fisherman who defiled 13-year-old girl sentenced to 10 years in prison

      OSP invites DVLA boss over alleged GH¢4m bribe claim

      OSP invites DVLA boss over alleged GH¢4m bribe claim

      Canal+ to launch high-speed fibre internet in Ghana

      Canal+ to launch high-speed fibre internet in Ghana

      New vehicle DP sticker numbers at port and the GH¢4million cash bribery allegation by DVLA boss

      New vehicle DP sticker numbers at port and the GH¢4million cash bribery allegation by DVLA boss

      Two jailed 70 years for kidnapping, robbery

      Three men jailed 20 years each for armed robbery

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      Tiwa Savage: I wasn’t happy being African

      Tiwa Savage: I wasn’t happy being African

      Highlife legend Daddy Lumba pass away at 60

      Court rejects attempt to halt Daddy Lumba’s burial amid widowhood dispute

      Kumasi vigil for Daddy Lumba postponed indefinitely

      Kumasi vigil for Daddy Lumba postponed indefinitely

      Shatta Wale’s Lamborghini seized by EOCO in joint FBI operation

      Man named by EOCO in Shatta Wale Lamborghini seizure serving 7 years in US jail over $4million fraud

      Shatta Wale’s Lamborghini seized by EOCO in joint FBI operation

      Shatta Wale’s Lamborghini seized by EOCO in joint FBI operation

      Thousands turn up for Daddy Lumba vigil

      Thousands turn up for Daddy Lumba vigil

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      Women AFCON – Ghana beat Algeria to reach semi-final

      Highlights: Black Queens beat Egypt 4-0 to qualify for 2026 WAFCON

      Kotoko fans angry over club’s decision to sell Amoah

      Kotoko fans angry over club’s decision to sell Amoah

      Kotoko crashed out of CAF Confederation Cup after 5–1 defeat to Wydad

      Kotoko crashed out of CAF Confederation Cup after 5–1 defeat to Wydad

      Live Streamed: Asante Kotoko vs WAC

      Live Streamed: Wydad Athletic Club vs Kotoko

      Ghana nominated for National Team of the Year in 2025 CAF Awards

      Ghana nominated for National Team of the Year in 2025 CAF Awards

      Belgium keen on handing Ghana’s Francis Amuzu call up

      ‘I am not an opportunist’: Francis Amuzu denies chasing World Cup spot with Black Stars switch

      Belgium keen on handing Ghana’s Francis Amuzu call up

      I want to play for Ghana with or without World Cup – Francis Amuzu

      Kotoko 0-1 Wydad: There were mistakes and they affected us- Karim Zito

      Kotoko 0-1 Wydad: There were mistakes and they affected us- Karim Zito

      Police investigate ‘unnatural’ death of Senegalese goalkeeper in Kumasi

      Police investigate ‘unnatural’ death of Senegalese goalkeeper in Kumasi

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      Ghana needs GHS6bn to employ 74k unemployed health workers – Akandoh

      Health minister accuses LHIMS contractors of blackmail, unveils new digital system

      Staring at women’s breasts makes men live longer, healthier —Study

      6 Women die of breast cancer daily

      Ghana needs GHS6bn to employ 74k unemployed health workers – Akandoh

      Ghana needs GHS6bn to employ 74k unemployed health workers – Akandoh

      Single women contributed more to the spike in HIV/AIDS than men – Study

      Ghana AIDS Commission alarmed as youth abandon condoms

      Frustration in health facilities as workers return to paper-based system after LHIMS shutdown

      Frustration in health facilities as workers return to paper-based system after LHIMS shutdown

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      Ghana records 42 new HIV infections every day – AIDS Commission

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        This Ashanti Prince designed and built a signal station in Trinidad for the British in 1883

        This Ashanti Prince designed and built a signal station in Trinidad for the British in 1883

        Songo, the African tribe where children are raised by their uncles

        Songo, the African tribe where children are raised by their uncles

        Manhyia puts a ban on funerals in Asanteman

        Details of the symbol of authority of the Ashanti Region, the Asanteman flag

        The story of the Ghanaian professor emeritus who did not attend secondary school

        The story of the Ghanaian professor emeritus who did not attend secondary school

        The intriguing history of the ancient Egyptian bust that looks like Michael Jackson

        The intriguing history of the ancient Egyptian bust that looks like Michael Jackson

        Meet the African tribe that offers free sex to guests

        Meet the African tribe that offers free sex to guests

        Meet Kobena Sekyi, the educated elite who never wore European clothing

        Meet Kobena Sekyi, the educated elite who never wore European clothing

        This African tribe from Togo and Benin were experts in penis enlargement way before plastic surgery

        This African tribe from Togo and Benin were experts in penis enlargement way before plastic surgery

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        Who is the real Yaa Asantewaa

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      IMF endorses ECG privatisation

      IMF endorses ECG privatisation
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      The International Monetary Fund (IMF) has endorsed the liberalisation of the operations of the Electricity Company of Ghana (ECG), the State-owned electricity distributor, for private sector participation. 

      The Fund is of the view that private sector participation would attract the much-needed investment and technical expertise to address legacy debts, making the energy sector financially sustainable.  

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      This was in the IMF July country report on the fourth review of the Ghana’s US$3 billion-three-year Extended Credit Facility (ECF) arrangement, which identified the energy sector as a major source of fiscal risk. 

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      The Electricity Company of Ghana is responsible for distributing electricity in the southern part of Ghana, covering six administrative regions: Greater Accra, Eastern, Volta, Ashanti, Western and Central. 

      According to the Fund, in the absence of any policy action, the annual energy sector shortfall is estimated to reach US$2.2 billion in 2025. 

      That reflected ECG’s large commercial and technical losses and slow electricity tariff adjustment in the face of exchange rate fluctuations and higher power generation costs, notably due to reliance on costly liquid fuels, the IMF observed. 

      “Staff welcomes the cabinet decision to open the electricity company’s operations to the private sector, and the efforts made towards the energy sector’s financial sustainability -including resuming the quarterly electricity tariff increases,” the Fund stated in its appraisal on the ECF programme. 

      The IMF observed progress in reducing the energy sector challenges including the 14.75 per cent increase in electricity tariffs in April 2025 by the Public Utilities Regulatory Commission (PURC) and compliance improvement with the Cash Waterfall Mechanism somewhat in 2025. 

      Nonetheless, the report indicated that “some IPPs received less than expected, as fuel payments and the addition of an IPP diluted Cash Waterfall Mechanism distributions.” 

      There were significant deviations between ECG’s validated and declared collections (GHS5.3 billion) and between CWM allocations and actual payments (GHS3.9 billion), the report noted. 

      To reduce the energy sector shortfall in the short term and enhance efficiency, the Bretton Woods institution recommended a full and consistent implementation of the Cash Waterfall Mechanism. 

      That implies the country ensuring regular payments to Independent Power Producers (IPPs) and fuel suppliers, addressing legacy arrears, and improving transparency, governance and accountability. 

      The IMF urged the Government to accelerate the implementation of the Energy Sector Recovery Programme measures, including conducting a multi-year tariff assessment to reflect changes in the costs of energy production by end-September 2025, enhance revenue collection and limit arrears accumulation. 

      In an earlier interview with the Ghana News Agency, Nana Amoasi VII, the Executive Director, Institute for Energy Security, said privatisation could bring in expertise, investment, and efficiency improvements that are needed to address infrastructure challenges and improve service delivery in the power sector. 

      Referring to the 2019 failed agreement with Power Distribution Services (PDS), he called for a well-designed, transparent, and best practices to avoid the pitfalls experienced in the past deal. 

      The failure of PDS to achieve certain pre-conditions led to the country missing some US$190 million in investment under the second tranche of the Millennium Challenge Corporation (MCC) power compact. 

      Ms Alice Albright, Chief Executive Officer of MCC, on Thursday, May 9, 2024, stated that the Corporation had no immediate plans, but remained opened to working with Ghana for long-term sustainability of related infrastructure and financial recovery in the energy sector. 

      source: GNA

      Tags: Electricity Company of Ghana (ECG)International Monetary Fund (IMF)

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