Politicians 'milk' ECG through inflated procurement deals – ACEP boss alleges

Politicians and politically connected individuals are allegedly benefiting from inflated procurement deals at the Electricity Company of Ghana (ECG), with some items reportedly purchased for as much as seven times their normal market price.

The allegation was made by the Executive Director of the Africa Centre for Energy Policy (ACEP), Ben Boakye, who said procurement abuses and excessive spending are among the major problems draining ECG’s finances.

Speaking on JoyNews’ Newsfile on Saturday, September 12, 2026, Boakye argued that the company’s financial troubles go beyond technical and commercial losses.

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“The fundamental truth around this is that ECG is an essential part of the spoils of election,” he alleged.

“And that is where politicians milk. So when they appoint somebody to go manage it, that is where they share the business, they share the money,” he stated.

According to him, some of what is described as financial losses at ECG may actually represent money benefiting individuals and businesses that take advantage of weaknesses within the company.

“What we consider as a loss, it's actually a benefit to many people who are lined up to actually milk it. And that's the bare truth,” he said.

He identified procurement as a major source of the alleged financial leakages, claiming that ECG sometimes pays several times the normal market price for goods.

“When you pick an item that is procured by ECG, if you get an item that you can buy for one cedi on the shelf, ECG will buy it an average of seven cedis,” he claimed.

Boakye blamed the alleged price inflation partly on procurement practices such as sole sourcing.

He further alleged that some private suppliers have been asked to increase their quoted prices before contracts are awarded.

“I've seen people, private people, who have gone in; they will quote their price, and somebody in there will tell you that make it X amount before we give it to you,” he said.

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Asked whether the increased amount was intended to create benefits that would later be shared, Boakye replied: “Absolutely, yes.”

He warned that ECG may struggle to become financially sustainable if attention is focused only on power losses and revenue collection while procurement and spending problems remain unresolved.

He questioned how ECG could remain financially healthy if goods available at much lower prices on the open market are allegedly purchased at several times their actual cost.

DR/MA

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