La Palm Royal Beach Hotel, Accra – 31st July 2026
The Electricity Company of Ghana (ECG) is beginning to see positive results from sweeping reforms aimed at restoring the Company’s financial health, strengthening governance and improving service delivery, the Chairman of the Board of Directors, Ing. Dr.William Amuna, has announced.
Speaking at the Company’s Annual General Meeting, Ing. Amuna said ECG made significant progress in 2025 despite operating in a difficult economic environment, recording improved financial performance while laying a solid foundation for long-term sustainability.
According to him, the Board’s first task after assuming office was to undertake a comprehensive review of ECG’s operations to better understand the challenges confronting the Company.
“The review identified critical issues including high system losses, growing debt and excessive inventory levels,” he said. “These findings shaped our strategic priorities and culminated in the development of our five-year corporate strategy, Transforming ECG: Empowering the Future of Energy.”
The strategy, he explained, is driving reforms designed to modernise the Company, improve operational efficiency and position ECG to meet Ghana’s growing energy needs.
One of the clearest signs of progress, the Chairman noted, was the Company’s financial performance. ECG increased its revenue by 16.2 per cent to GHS22.1 billion in 2025, while reducing its loss after tax from GHS8.26 billion in 2024 to GHS2.52 billion. Total assets also grew by 8.5 per cent to GHS82.75 billion.
Although the Company continues to face financial challenges, Ing. Amuna described the improved results as evidence that the difficult but necessary reforms being implemented by the Board and Management are beginning to yield results.
He revealed that ECG also reduced by 35 per cent the amount owed to Independent Power Producers (IPPs) compared to the previous year, reflecting the Company’s commitment to meeting its obligations under the Cash Waterfall Mechanism and restoring confidence within Ghana’s power sector.
Beyond improving the Company’s finances, the Board has also intensified efforts to strengthen corporate governance.
During the year, the Board approved a number of key governance instruments, including a Corporate Governance Framework, a Board Charter, a Conflict of Interest Policy and a Code of Conduct for Board Members.
“The Board remained committed to the principles of accountability, transparency and integrity throughout the year, even as the Company navigated significant operational and financial challenges,” Ing. Amuna stated.
The Board also approved the nationwide rollout of ECG’s SAP Enterprise Resource Planning (ERP) system to improve efficiency, backed the renegotiation of selected Power Purchase Agreements to reduce costs and directed Management to strictly comply with procurement regulations and the Cash Waterfall Mechanism Policy.
Cost-saving measures introduced during the year including the renegotiation of major service contracts, the decoupling of electronic payment platforms and the termination of underperforming supply contracts generated substantial savings for the Company.
Another major achievement, according to the Chairman, was ECG’s successful conclusion of the Power Distribution Services (PDS) arbitration, which prevented a potential financial liability of more than US$300 million.
Looking ahead, Ing. Amuna said the Board remains optimistic about ECG’s prospects despite prevailing challenges.
He announced that the Company will continue investing in projects that improve network reliability and customer service, including the deployment of Supervisory Control and Data Acquisition (SCADA) systems and drone technology for network inspection and maintenance.
Cybersecurity will also remain a key priority as ECG expands its digital services and technology-driven operations.
While acknowledging that debt management, tariff alignment and improving revenue collection remain critical priorities, the Chairman expressed confidence that ongoing collaboration with Government, regulators and industry stakeholders will create a more sustainable future for the electricity distribution sector.
“Our outlook for 2026 is cautiously optimistic,” he said. “We expect continued revenue growth, sustained investment in our network and stronger collaboration across the energy sector to support ECG’s transformation journey.”
Ing. Amuna expressed appreciation to the Government of Ghana, the Ministry of Energy and Green Transition, the Ministry of Finance, the Public Utilities Regulatory Commission (PURC), the Energy Commission, the State Interests and Governance Authority (SIGA), as well as ECG’s generation and transmission partners for their continued support.
He also paid tribute to ECG employees across the country for their dedication and resilience in delivering electricity to millions of customers despite the challenges faced by the Company.
He reaffirmed the Board’s commitment to building a financially stronger, more efficient and customer-focused utility.
“We remain committed to transforming ECG and empowering the future of energy,” he said.