Outgoing U.S. Ambassador to Ghana, Virginia Palmer, has issued a stark warning about the Electricity Company of Ghana’s (ECG) deepening financial crisis, suggesting the situation poses a significant threat to the country’s economic recovery and energy stability.
In a yet-to-be-aired interview on The Point of View with Bernard Avle on Channel One TV, Ambassador Palmer revealed that the extent of ECG’s financial hemorrhage is worse than previously believed. Referencing recent comments by Finance Minister Dr. Cassiel Ato Forson, she noted that the company is losing approximately $2.2 million annually — a figure she said matches the scale of Ghana’s entire IMF support programme.
“The ECG is bleeding the exchequer, and it’s bleeding more than we thought. There are losses either at the electricity poles or in the counting rooms, and they are enormous,” she remarked.
Palmer emphasized that these inefficiencies are not just technical or financial issues but represent a fundamental obstacle to ending power outages (commonly known as dumsor) and ensuring reliable electricity for Ghanaians.
She praised President John Dramani Mahama’s recent decision to form a panel to assess the ECG and recommend reforms, calling it a “positive step” and expressing anticipation for its findings.
“These reforms are essential,” she stressed, “not just to fix the books but to secure the future of Ghana’s energy sector and economic resilience.”
Palmer’s remarks add urgency to growing calls for a radical overhaul of ECG operations as the country grapples with mounting energy sector debts and ongoing power instability.
