In a revelation that has sent shockwaves through the nation, Energy Minister John Jinapor has uncovered massive procurement breaches at the Electricity Company of Ghana (ECG), highlighting a trend of reckless financial mismanagement that has strained the company’s resources.
Jinapor disclosed that, in 2023, ECG planned for procurement expenses under a whopping GH¢1 billion.
However, the actual spending ended up surpassing this figure by a staggering GH¢7.3 billion, totaling GH¢8.3 billion—an eye-watering 700 percent over-budget overspend.
“This is a clear case of financial mismanagement that has crippled ECG’s finances,” Jinapor iterated, calling attention to the alarming disparity between planned and actual procurement costs.
To put it in perspective, ECG had budgeted GH¢1.397 billion for procurement in 2014, but their actual spending soared to GH¢8.2 billion, far exceeding their authorized budget.
The same pattern was repeated in 2023, where planned expenditures were almost tenfold their actual spending.
Jinapor also pointed out that this spending spree was not an isolated incident but part of an ongoing issue.
In 2022, ECG spent GH¢1.3 billion on procurement, only for the amount to surge again in 2023 to a figure that left many questioning the company’s financial oversight.
In addition to the financial breaches, Jinapor confirmed that National Security Operatives have arrested 14 individuals—10 Chinese nationals and 4 Ghanaians—in connection with the missing 1,300 containers belonging to ECG.
These containers, which were supposed to contain vital equipment, have gone missing, adding to the mounting crisis facing the company.
Jinapor promised swift action to hold those responsible for these breaches accountable. He stated that the government would not rest until the missing containers were found, and that anyone connected to the scandal would face prosecution.
“Wherever they are, we will trace them,” Jinapor declared. “Those apprehended will not just face prosecution—we will go to court, seek an order to sell their assets, and use the proceeds to reinvest in the grid system to make power delivery more reliable.”
The Energy Minister’s comments come after an investigative report revealed the massive scale of the procurement problems and the missing containers at the Tema Port.
Despite the revelation, Jinapor confirmed that no Indian nationals were arrested in connection to the missing goods, as previously suggested in media reports.
