In a country grappling with chronic power sector debt, the second part of a forensic audit by PricewaterhouseCoopers (PwC) has uncovered a fresh dilemma: the Electricity Company of Ghana (ECG) under-declared GHS 5.3 billion in revenue in 2024 alone. The revelation casts a long shadow over Ghana's struggling power sector, already plagued by liquidity crises and recurring threats of supply cuts.
ECG, Ghana's largest power distributor, has long been at the centre of the country's energy sector woes, struggling to settle debts owed to power producers such as the Volta River Authority (VRA), Bui Power Authority (BPA), and Independent Power Producers (IPPs). Yet, PwC's findings suggest that ECG's financial shortfalls may be, at least in part, self-inflicted.
Billions unaccounted for The audit, covering January to December 2024, follows an earlier PwC review of ECG's final quarter of 2023, which identified GHS 567 million in revenue discrepancies. But the latest figures reveal a far deeper structural issue: in just one year, unreported revenue ballooned to GHS 5.3 billion, suggesting chronic inefficiencies in ECG's accounting practices-or worse, deliberate financial mismanagement.
At the heart of the problem lies ECG's fragmented revenue collection system.
