ECG justifies GHS2 billion payment by government to settle it debt

The Electricity Company of Ghana (ECG) has clarified issues surrounding the government’s payment of debts owed the company.

Announcing in statement copied to and signed by its Managing Director, Kwame Agyeman- Boadu said, the government had “averagely paid GHC2 billion directly to ECG’s suppliers (i.e VRA, IPPs and GRIDCo) to defray GoG’s indebtedness to ECG.”

It added that government had also paid an amount of GHC4.14 billion to various fuel suppliers and power producers.
The ECG’s clarification follows the Minority’s dismissal of government’s claim that it had settled arrears owed the ECG.

The Minister of Energy, Peter Amewu at a press briefing organized by the Information Ministry also confirmed the payment.
“The Government of Ghana has given government credit balance of GHS500 million to pay for electricity bills for January to April 2020”, he said.

Mr Kwame Agyeman- Boadu noted that, the company extended its appreciation to the government for its intervention, saying the “company’s balance sheet is now stronger than before”.

Find the full statement.