Ambassador Palmer: ECG losses threaten Ghana’s economic stability

Outgoing U.S. Ambassador to Ghana, Virginia Palmer, has raised concerns about the Electricity Company of Ghana (ECG). She is calling for immediate reforms to stabilize the utility provider.

In an upcoming interview on The Point of View with Bernard Avle, she described ECG’s financial state as alarming. She noted that the company is experiencing massive losses. “The ECG is bleeding more than we thought,” she said.

Palmer referenced comments from Finance Minister Dr. Cassiel Ato Forson. He mentioned losses of $2.2 million a year, similar to the scale of the IMF program. These losses occur either at electricity poles or in counting rooms.

Ambassador Palmer welcomed President John Dramani Mahama's recent actions to address these issues. She was pleased to see him announce a panel to evaluate ECG and suggest necessary reforms.

She emphasized that these reforms are crucial for Ghana’s economic stability. They are also needed to resolve ongoing power outages known as dumsor. Palmer warned that continued losses could threaten broader energy sector goals.

“I’m committed to backing Ghana’s future MCC eligibility,” she stated.