Articles
ECG Holds 28th AGM – Reports Major Financial Turnaround
La Palm Beach Hotel – 30th July 2026
The Electricity Company of Ghana (ECG) has posted a dramatic improvement in its financial performance for 2025, cutting its after-tax loss by nearly 70% and signalling that a year of deep structural reform is beginning to pay off.
The figures were unveiled at the company’s 28th Annual General Meeting (AGM) held at the La Palm Royal Beach Hotel in Accra on Thursday 30th July, 2026, the first of such meeting ECG has convened since 2018, bringing together government officials, sector regulators, independent power producers and interest groups to take stock of the company’s performance over the years.
ECG’s loss after tax fell from GHC8,255.80 million in 2024 to GHC2,521.20 million in 2025, even as revenue climbed 16.2% to GHC22,109 million. The improvement follows a wave of reforms launched last year aimed at restoring financial discipline and strengthening governance and accountability across the company.
As a result, ECG has been able to meet its financial obligations to power producers more consistently with the notable exception of independent power producer Karpowership.
Despite the progress, the Board of Directors will not recommend a dividend payment to the company’s sole shareholder for the 2025 financial year, citing the scale of retained losses still on the books.
Speaking at the AGM, the Deputy Minister of Energy and Green Transition, Hon. Richard Gyan-Mensah, commended the company’s steady improvement, describing it as vindication of government’s decision to pursue reform.
“Government has always believed that the financial health of ECG has a direct implication on the production, distribution and efficient service in the power sector,” he said, adding that “without a financially healthy ECG, there cannot be a sustainable energy sector.”
Hon. Gyan-Mensah said ECG had demonstrated the potential to become not merely a viable utility, but one of the best power companies on the continent. He urged the company to build on the momentum and convert it into real, sustained profitability while also sharpening its focus on customer service.
“As we strengthen our finances and improve infrastructure, there should also be an improved customer service to make the transformation complete,” he said. “Just as there will be no sustainable energy sector without ECG, the company cannot thrive without satisfied customers.”
The ECG Board Chairman, Ing. Dr. William Amuna told the shareholders that the Board had overseen the implementation of government’s reform agenda and remained fully committed to securing the company’s long-term financial sustainability.
He outlined a four-channel strategy now being actively pursued by Management, built around:
• Debt reduction
• Tariff full cost recovery
• Loss reduction and improved collections
• Growth of other income streams
He announced to the house that this strategy has been endorsed by the Board and is being actively pursued by Management.
ECG’s Managing Director, Ing. Kwame Kpekpena, attributed the improved position to a combination of internal reforms and favourable external conditions; chief among them being the stability of the Cedi, which generated a foreign exchange gain of GHC12,159 million for the company.
He also pointed to strong operational gains, with ECG’s customer base expanding to 5,851,762 by the end of the year, and prepaid customers now forming the clear majority of that base at 53.49%.
“This deliberate structural shift delivers immediate operational advantages, directly accelerating our revenue collection, strengthening our working capital and significantly enhancing the overall efficiency of our billing and collection workflows,” Ing. Kpekpena said.
Looking ahead, he said ECG had set six strategic priorities for the coming year, with continued investment in its people, safety culture, and digital platforms forming the foundation for the next phase of performance.
The AGM drew wide representation from across Ghana’s energy and governance landscape, including the Ministry of Finance, the State Interests and Governance Authority (SIGA), the Public Utilities Regulatory Authority (PURC), GRIDCo, the Volta River Authority (VRA) represented by the Chief Executive, Ing. Edward Ekow Obeng-Kenzo, independent power producers and the ECG Workers Union.
Also in attendance were Kofi Kapito, Founder and CEO of the Consumer Protection Agency, and Dr Steve Manteaw, Policy Analyst and Co-Chair of the Ghana Extractive Industries Transparency Initiative (GHEITI).
By Nana Kwesi Coomson, Principal Communications Officer, Head Office
Ashanti West – 5th September 2026
Traditional authorities of Nhyiaeso, a suburb of Kumasi, have pledged support to the Electricity Company of Ghana to protect lands serving as utility corridors in the area.
Chief of the community, Nana Osei Yaw Frimpong II, assured of ending encroachment of utility corridors and enforcing the right-of-way laws within his jurisdiction.
The Kumasi Nhyiaesohene made the assurances during a courtesy call on the management of the Ashanti West Region on Wednesday, September 2, at the Regional Office in Adum.
“Electricity cannot get to our homes and businesses without poles and transformers, so if you want to install a transformer at designated utility corridors within my jurisdiction and you notice anyone has encroached or if you see anyone selling beside your poles or under your wires, kindly report to my office and we will ensure the right thing is done,” he pledged.
The support from the traditional authority comes at a time when utility companies like the Electricity Company of Ghana (ECG) and Ghana Grid Company Ltd (GRIDCo) are battling the menace of heavy encroachment on lands earmarked for the construction of electricity infrastructure.
The visit afforded the chief the opportunity to interact with Ashanti West Management and deepen existing relations between ECG and traditional authorities in the Ashanti Region.
Nana Osei Yaw Frimpong II also commended ECG for improved service delivery in areas under his jurisdiction, like Ahodwo, parts of Adum, Darkodwom, Danyame, Ridge, KATH, Ridge Condos, and surrounding areas.
“Electricity has become a necessity for every household, and without electricity, businesses and, to a larger extent, the economy will collapse, so as traditional authorities, we have to support you to do your work diligently. If the light stays on, our people will also benefit tremendously, and I must say that in recent times, the power has been stable, so keep up the good work,” he said.
Ing. George Amoah, General Manager for ECG Ashanti West Region, welcomed the assurance and promised further collaboration with traditional authorities to serve the region.
“As the Kumasi Nhyiaesohene, your territory is critical to our operations, as it is located in the central part of Kumasi, with individuals encroaching on our right of way with their buildings. These individuals end up writing to ECG to relocate our infrastructure at an extra cost to the company, so pledging to support us and ending this menace is a step in the right direction,” he said.
Ing. Amoah noted that the electricity distributor is fully aware of the load growth in areas like Ridge, Danyame, Ahodwo, and the Adum Central Business District, with numerous high-rise buildings replacing smaller buildings, and is assured of an improved power supply for commercial activities in the area.
Ing. Amoah announced that ECG has upgraded some power transformers at the Ridge Bulk Supply Point, and GRIDCo is currently upgrading their power transformer as part of efforts to meet the growing demand of power in the greater Kumasi and Ashanti regions.
“We have also started a project to install two new 500 kVA transformers within the Adum Central Business District to meet the growing demand for electricity in Adum,” he added.
