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Showing posts with the label Third World Network-Africa

Mismanagement of economy part of ECG’s woes – Yao Graham

 Dr. Yao Graham, Coordinator of Third World Network-Africa, has linked the challenges facing the Electricity Company of Ghana (ECG) to broader mismanagement of the Ghanaian economy. Ghanaian-themed art His remarks come in response to President John Dramani Mahama’s commitment to privatizing power distribution in Ghana, aimed at improving efficiency in the energy sector. Speaking on  Channel One TV’s The Big Issue  with Selorm Adonoo, Dr. Graham highlighted the mismatch between electricity tariffs and the declining value of the Ghanaian cedi, which has significantly impacted ECG’s operations. He explained that ECG collects revenue in cedi but must pay Independent Power Producers (IPPs) in dollars, creating a financial strain on the company. Dr Graham also criticized the contracts signed with IPPs, arguing that they have been unfavourable to the state and have exacerbated ECG’s challenges. He emphasized the need to address these systemic issues rather than resorting to priv...