An audit report by the renowned auditing firm, PwC, has uncovered some troubling revelations in the financial records of the nation's power distributor, the Electricity Company of Ghana (ECG).
The audit report, which examined ECG's books for the 3rd quarter of 2024, revealed significant inconsistencies in the total revenue collected by the company.
For example, the audit report highlighted a substantial variance between the collection amounts recorded in the cash waterfall mechanism (CWM) - a system designed to ensure the equitable distribution of revenues collected by the company - and the ECG Cash Settlement Platform Report.
It was discovered that the total revenue generated for the 3rd quarter in the CWM was approximately GH¢600 million less than the amount reported on the company's platform report. "We found that the collection amounts in the CWM were lower than those in the ECG Cash Settlement Platform Report.
