ACEP Director calls for comprehensive forensic audit of ECG’s operations from 2021 to 2024

Ben Boakye, Executive Director of the Africa Centre for Energy Policy (ACEP), has called for a comprehensive forensic audit of the Electricity Company of Ghana (ECG) covering 2021–2024.

This follows a PricewaterhouseCoopers (PwC) audit that revealed GHS 1.1 billion in under-declared revenue and discrepancies in ECG's Cash Waterfall Mechanism (CWM).

Boakye also highlighted ECG’s GHS 9 billion exchange rate losses in 2023, raising concerns about questionable currency sourcing practices. He criticized ECG for buying dollars at inflated rates and bypassing the Bank of Ghana.

ACEP has requested further details under the Right to Information (RTI) Act but has faced delays.

Boakye emphasized that a forensic audit could address ECG’s operational inefficiencies and financial mismanagement, paving the way for sector-wide reforms.