ECG is bleeding more than we thought – Outgoing US ambassador raises alarm

Outgoing U.S. Ambassador to Ghana, Virginia Palmer, is worried about the Electricity Company of Ghana (ECG). She believes the financial situation is worse than previously thought.

In an upcoming interview on The Point of View with Bernard Avle, she warned that ECG's losses threaten Ghana’s economic stability. Urgent reforms are needed to address these issues.

“The ECG is bleeding money,” she stated. “When Finance Minister Dr. Cassiel Ato Forson spoke at the Economic Dialogue, he mentioned $2.2 million a year in losses.” These losses occur either at electricity poles or in accounting processes.

Palmer’s comments reflect growing calls for transparency and efficiency in Ghana’s power sector. They also highlight how ECG's financial troubles impact Ghana’s program with the International Monetary Fund (IMF).

She pointed out that technical and commercial losses from faulty infrastructure and revenue leakages harm the country’s fiscal health. This undermines efforts to provide reliable electricity.

Ambassador Palmer's assessment adds to demands for structural reforms at ECG. Her tenure has focused on collaboration with Ghana on economic and energy issues.

It ends amid calls for greater accountability and effective leadership in the utility sector.