We’re working around the clock to reduce losses - GWCL

Ghana Water Company Limited Logo Ghana Water Company Limited

Tue, 10 May 2022 Source: www.ghanaweb.com

GWCL made a loss of GH¢938 million in 2020, Finance Ministry

GWCL working to become world-class utility company

GWCL, COCOBOD, and Ghana Airports Company Limited, made a combined loss of over Ghc1.5 billion in 2020

The Ghana Water Company Limited (GWCL) has stated that the company is working to avert significant losses.

Director of communications for GWCL, Stanley Martey, noted that every water industry globally makes losses but the GWCL adopted some “mechanisms”.

Speaking in an interview Martey noted that, “when it comes to our [GWCL], it is something that we have been working on for a very long time and it is not because we’re requesting for a proposal now but, we have been leveraging on technology, deploying a lot of mechanisms to enable us to reduce the loses.”

“In every water industry globally, there’s an acceptable loss range between 20% and 25% but, ours [GWCL] now go beyond 25%. In 2017, it was around 54%, currently, as I speak, it is around 40 and 45%."

"We’re still working hard to ensure that we reduce it further and with our vision of becoming a world-class utility, we can also fall within the range that the world-class utility fall. So, we’re working around the clock to ensure this is done,” he said.

Martey however calls for more investment into the company to help institute more meters for consumers.

“We need to invest more and we’re investing into new meters, we’re investing into zonal meters, investing into bulk meters, and even domestic meters. Most customers will confirm that we have changed their old meters into new smart digital meters and that we expect that they’ll read accurately.”

The Ministry of Finance in a recent release on non-performing State-Owned Enterprises (SOEs) reported a GH¢5.3 billion loss in the operations of the GWCL in the 2020 fiscal year.

GWCL was top of the list of non-performing state-owned enterprises with a loss of GH¢938 million.

GWCL, COCOBOD, and Ghana Airports Company Limited, made a combined loss of over Ghc1.5 billion.

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Source: www.ghanaweb.com
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