Serious concerns have been voiced by Energy Minister John Abdulai Jinapor regarding purported fraudulent practices within the Electricity Company of Ghana (ECG), including the inappropriate auctioning of vital equipment intended for the business. On Sunday, February 16, 2025, Jinapor stated on Hot Issues on TV3 that ECG has not been able to timely pass necessary equipment from the port, resulting in inefficiencies and monetary losses. He brought up the startling example of a $500,000 electrical equipment container that was left uncleared and then sold at a significantly reduced price at auction. "A container valued at approximately $500,000 was imported, according to the security report I obtained after consulting with the port. Since ECG was unable to clear it, someone managed to purchase it at auction for 100,000 cedis.
"It will cease. It will stop, I mean. We must do all it takes to prevent it, regardless of how controversial it may be. Public indignation over Jinapor's disclosures has led to demands for an examination into ECG's bidding and procurement procedures. The government is being urged by numerous stakeholders to enact strict regulations in order to guard against financial mismanagement and safeguard public assets. In addition to the bogus auction, Jinapor disclosed that ECG has 3,000 containers that are currently stranded at the ports, with the company's tardiness costing GHS 1.5 billion in demurrage. All of this is a result of their involvement in what I refer to as extremely pointless purchases. Approximately 3,000 containers are currently stacked at the ports, resulting in demurrage of GHS 1.5 billion.
Jinapor formed a committee to look into ECG's procurement procedures during the Akufo-Addo administration in order to allay these worries. The committee's job is to evaluate the financial losses brought on by poor management and procurement violations. A committee has been established to look into ECG's purchases and the price of the containers that are piled at the ports. "The committee is performing admirably," he stated. According to Jinapor, preliminary committee results indicate that ECG's previous management did not adhere to appropriate procurement procedures. According to the initial reports I've received, "there is massive rot at ECG," he continued. Ghana's Agriculture Minister Eric Opoku declares that cocoa growers will now receive 70% of the world market price.




Source: dailynewsghana.net