Dr. Theo Acheampong, a Political Risk Analyst, has supported the push for privatization in the power sector to ease the financial burden on consumers, particularly in light of the looming power crisis due to fuel shortages.
President John Dramani Mahama recently set up a technical team to explore solutions for the energy challenges, and he has suggested the potential privatization of the Electricity Company of Ghana (ECG) to tackle inefficiencies in the country’s power distribution system.
Mahama believes that involving the private sector in managing ECG could address longstanding problems, such as operational inefficiencies, financial mismanagement, and inadequate service delivery.
During a meeting with a World Bank delegation on January 8, 2025, Mahama emphasized that privatization could be part of a larger strategy to modernize and improve the energy sector, assuring stakeholders that any decisions regarding ECG would involve extensive consultations to balance public interest with the need for better performance.
In an interview on The Big Issue on Channel One TV, Dr Acheampong also stressed the need for fundamental changes to address ECG’s ongoing management issues.
“I think some form of privatisation would have to be done fundamentally with the way the ECG has been run,” Dr Acheampong stated.
He pointed out that the mismanagement over the last couple of years has left much to be desired.
“Either than that, what happens is that we, the citizens, will end up still paying the cost of this mismanagement through the bills that are brought to us,” he added.
Dr Acheampong stressed that addressing this issue is one of the major challenges the current administration must tackle within the next six months to a year.
He acknowledged that the process would not happen overnight but emphasised the importance of taking steps towards privatisation to ensure a more efficient and cost-effective power sector.
The power crisis, commonly referred to as “dumsor,” has been a persistent issue in Ghana, causing frequent power outages and significant economic disruptions.
Privatisation is seen as a potential solution to improve the management and efficiency of the power sector, ultimately reducing the financial burden on consumers.
Source: Citinewsroom