Business News of Tuesday, 21 January 2025
Source: www.ghanawebbers.com
The Electricity Company of Ghana (ECG) has introduced advanced measures to combat power theft and reduce revenue losses, leveraging national digital infrastructure such as the Ghana Card and Ghana Post GPS.
The Loss Reduction Project (LRP), launched in 2023, replaces old meters with advanced smart prepaid meters linked to customers’ identities and locations. These meters detect illegal tampering and improve digital payment efficiency.
Power theft and outdated systems have contributed to significant revenue losses, averaging 27% annually in recent years. However, ECG has seen a 30% revenue increase since implementing the LRP. The company aims to reduce losses to below 20% by 2025.
Digital advancements enhance tracking, billing, and resource planning, while challenges persist. ECG must sustain investments in technology to ensure efficient operations and financial stability.