Gov’t has no intention of privatizing ECG – Mahama

President John Dramani Mahama has hit out at persons spreading rumours that government is planning to privatise the country’s major power-distribution institution, the Electricity Company of Ghana (ECG).

President Mahama described those rumours as “absolutely untrue”.

“Government has no intention of privatizing ECG,” underscored President Mahama.

“ECG is still a 100 per cent government owned entity and will remain a 100 per cent government owned entity.”

Reports were rife after the signing of the Second Millennium Challenge Compact last year that ECG’s operations will completely be handed to private investors.

But speaking during the commissioning of a 165-MVA substation by Enclave Power on Tuesday, President Mahama said the world over private sector participation is being encouraged in the areas hitherto controlled by the state.

“This is leading to increased investment from the financial sector and the capital market and it is introducing efficiency into the operations in those sectors.”

Power can be no different, he mentioned.

He said government will allow private sector participation as a concession in the distribution of power.